Fast growing independent veterinary group secures £3m funding
ThinCats, the Leicestershire-based alternative lender to mid-sized SMEs, has supported South Yorkshire and Lincolnshire based independent veterinary group, The Pet Vet, with £3.1m in growth funding.
Founded in 2011, The Pet Vet remains a vet-owned, independent practice, bucking the trend of corporatisation in this sector. The organisation is led by Managing Director, Dr Mel Fuller.
With surgeries across South Yorkshire and Lincolnshire, each of their 4 sites is purpose built and equipped with the latest technology.
Dr Mel Fuller, Managing Director at the Pet Vet, said: “The funding secured from ThinCats will enable us to deliver our ambitious plans to improve and expand the services we offer. Every surgery will benefit from the funding, further enhancing our workplace environment, customer experience and patient care, and aligning with one of our core Values: ‘We strive to be better everyday’.”
Ben Kimball, director business development, ThinCats, said: “It is fantastic to support ambitious businesses like The Pet Vet, but it is even more rewarding given I have known the business for over 8 years, and understand their importance to the local communities they operate in. It was great to work with the team at Parsons on the transaction, and we look forward to seeing The Pet Vet go from strength to strength.
Dr Rob Jones, owner and chairman at The Pet Vet, said: “We are delighted to secure this funding as we aim to continue on our strong growth trajectory over the next few years. Our success can be attributed to the hard work of our knowledgeable team and our passion for delivering excellent patient care. Thanks to ThinCats we can look to provide our services to even more families in the future.”
The funding, advised by Parsons Accountants, will help fund the next phase of growth as the management team look to double the size of the business. Legal support for ThinCats was provided by Andrew Curtis & Marie Pugh at Clarion Solicitors.
LPT is recruiting two non-executive directors
Leicestershire Partnership NHS Trust (LPT) is recruiting two non-executive directors to fill current vacancies and join the trust board.
The trust is looking to recruit local candidates who live in the Leicester, Leicestershire or Rutland area to share their commercial and financial expertise to chair the Finance & Performance Committee and the Audit Committee.
“We are keen to recruit local candidates in order to make a positive difference to the lives of the one million people served by the trust,” said Cathy Ellis chair of LPT. “As a non-executive director you get to help influence how the NHS improves the health and wellbeing of local people.”
LPT delivers services around mental health, community health and learning disabilities to children, young people, and adults of all ages, across Leicester, Leicestershire and Rutland. Our vision is to create high quality, compassionate care and wellbeing for all.
The health of people across Leicester, Leicestershire and Rutland varies considerably. LPT and its partners in the Integrated Care System are working to improve the health and wellbeing of the population.
Cathy continues: “We are proud of our staff and how they have stepped up to great since the launch of our Step up to Great strategy in 2019. We know that staff have embraced it to focus on nine key improvement areas, which has led to positive changes in quality and safety, despite the Covid pandemic.
We know we have more to do. Through our refreshed Step up to Great strategy we will focus together with local and regional partners on great health outcomes, through great care, a great place to work and being an important part of our community. The Trust Board plays a key role in achieving this vision.”
The trust is looking for candidates from a diverse background with relevant financial or commercial expertise gained at a senior strategic level in a large, complex organisation ideally with financial and business qualifications.
The deadline for applications is Friday 18 March 2022 and people interested can have an informal and confidential discussion with Cathy Ellis before submitting an application.
Expanding vintage clothes wholesaler takes pair of Pride Park units
An expanding vintage clothes wholesaler has ended its search for new premises by settling on a twin-set of warehouse units on a prime Derby business park.
Fox Vintage Wholesale, international suppliers of on-trend vintage clothing, has completed its relocation to two adjoining warehouses at Pride Park.
The property transaction was handled by William Speed of Salloway Property Consultants, who was “thrilled” to assist the growing Derby company: “It is great to see the success of an up-and-coming company lead to the expansion of its property requirements.
“Fox Vintage is a family run business with three siblings being the directors who have seen their company take off over the past couple of years. I am sure the new premises will provide an ideal platform for the company to continue its success story.”
Roxie from Fox Vintage was excited to start a new era for the business: “We had just outgrown our previous premises and were struggling for space. This new property really provides us with what’s required to grow the business and put into action a lot of new ideas that have been bubbling for the past couple of years.”
William Speed added: “These units are part of the high spec Ivygrove development at Royal Scot Road on Pride Park which remains Derby’s premier business park. In a short period of marketing, there was considerable demand and the letting to Fox was completed quickly.
“The market for such units has emerged from the pandemic period in very good health and we are finding demand is outstripping supply by some margin.”
New City Masterplan set to transform University estate
Travis Perkins hails “outstanding” 2021 financial performance
The CEO of Northampton-headquartered Travis Perkins says the company has delivered “an outstanding financial performance” for 2021.
According to full year results for the year ended 31 December 2021, revenue hit $4.6bn, up 24% versus 2020 (£3.7bn), and 10.6% ahead of 2019.
The company said this performance “reflects the extensive work undertaken to enhance the customer proposition, through investment in network capacity and technological capability, coupled with the robust recovery in both the RMI and new house building markets.”
Meanwhile the firm noted that actions taken to restructure the business and improve operational effectiveness, coupled with disciplined management of increasing inflation and product availability challenges, enabled the business to deliver an adjusted operating profit of £353m, up from £128m in 2020, and 19% ahead of 2019.
Nick Roberts, Chief Executive Officer, said: “2021 has been a year of significant operational and strategic progress for the Group, completing our portfolio actions and subsequently setting out our ambition to be the leading partner to the construction industry.
“Whilst the rapidly recovering market created challenges around inflation and product availability, we have navigated them well to deliver an outstanding financial performance, enabled once again by the hard work of our fantastic colleagues.
“The Group has built a strong platform for growth and, given robust end market demand and a positive start to the new year, we remain confident of making further progress in 2022.
“We continue to develop new capabilities to complement our market leading positions and we see exciting opportunities in both new and adjacent markets, driven by our desire to be at the forefront of delivering change and decarbonisation within our industry. The long-term fundamentals of our end markets continue to be robust and the Group is well placed to invest in growth opportunities to create value for all of our stakeholders.”
Study Inn Group secures £22.6m Paragon funding for 270-bed Nottingham student scheme
Student accommodation provider Study Inn Group has secured a £22.6 million finance facility from Paragon Development Finance to support its new state-of-the-art scheme in Nottingham.
The funding has assisted the acquisition of the site on Triumph Road and the development of the 270-bed Purpose Built Student Accommodation (PBSA) scheme.
This is the tenth facility Paragon has provided to Study Inn Group, supporting the development of over 2,100 PBSA bed spaces across the UK. The funding was led by Paragon senior relationship director Simon Dekker and senior portfolio manager Craig Seaborne.
The deal is the first to feature Paragon’s stabilisation loan facility, which covers the period following the completion of a development until the scheme has seasoned with student occupancy for up to two academic years. Once the development is complete, the scheme will be refinanced onto an 18-month stabilisation facility.
The launch of the stabilisation facility means that Paragon can support a developer through the full lifecycle of a PBSA development, from acquisition of a site without planning and pending approval, the development phase and onto a stabilisation facility post practical completion and opening of the scheme.
Study Inn’s five-storey development boasts communal facilities such as study space, wellness spa, sauna, steam room, hot beds, gym, yoga studio, games room, lounge and a big screen cinema room. There will also be 24/7 onsite management, room cleaning and linen services, superfast Wi-Fi and bicycle parking.
The development, which is adjacent to the University of Nottingham’s Jubilee Campus, will be ready in time for the 2022/23 academic year. It is Study Inn’s second site in Nottingham, having opened 288 rooms in Talbot St, adjacent to Nottingham Trent University, in 2020.
Marcus Hook, group finance director at Study Inn, said: “As a committed lender, Paragon Development Finance support has been integral to this scheme. Triumph Road will deliver a world class experience for students, with en-suite rooms complemented by top end facilities. Given its proximity to the University of Nottingham, we are confident this development will prove popular with students.
“Paragon’s technical understanding of the development process and the pressures facing developers make them an ideal partner and we are pleased to be working with them again.”
Paragon Development Finance senior relationship director Simon Dekker added: “We were delighted to have been able to continue our relationship with Study Inn and support the developer in serving the student market. The company has forged an excellent reputation in this space, putting student welfare and experience at the heart of its developments.
“The stabilisation feature means we can support PBSA developers from the start of their schemes to finish; from funding the purchase of development land or a building to convert, to the development costs, to the period after the development is complete and the scheme is occupied by students. This is unique in the market and shows our ability to structure our lending to support clients.”
German firm acquires Chesterfield manufacturer
SIMONA AG has acquired PEAK Pipe Systems Limited (PEAK), based in Chesterfield, from BRIDGSTOCK Limited, a family-run holding company, also headquartered in Chesterfield.
PEAK is one of the UK’s leading manufacturers of polyethylene pipe systems. For more than 50 years, PEAK has been providing innovative solutions for the growing UK infrastructure market, with a particular emphasis on electric and water utility sectors, as well as aquaculture. The company employs 66 people and generates revenue of approximately €40 million p.a.
The acquisition will underpin SIMONA Group’s strategic realignment, the aim being to achieve a strong focus on applications, while supporting the Group in its efforts to achieve its growth targets in the infrastructure and aquaculture markets within the EMEA region. Furthermore, the Group’s product portfolio in the UK will be expanded significantly as a result of the acquisition.
Matthias Schönberg, chairman of the Board of SIMONA, said: “PEAK opens up growth potential for us in the infrastructure, aquaculture and renewable energy markets, which we intend to cultivate in a targeted manner with the help of our EMEA business-line organisation launched in 2021.
“Boasting a solid level of profitability, high growth rates, an experienced management team, dedicated employees and a strong focus on quality and customer satisfaction, the company is a very good fit for SIMONA Group. Our customers will benefit from an extended product range, fast delivery times and system solutions from a single source. We look forward to working together.”
Russ Brown, Managing Director of PEAK, said: “SIMONA has been a trusted partner of our business for over 30 years. We see synergies at all levels of our organisation – culture, products, know-how, customer focus, can-do attitude – these make us very positive about the future.
“We are also excited to explain to our customers how much more we will now be able to offer to them. The history of PEAK is a proud one, indeed the entrepreneurial spirit of Eric Bridgstock still drives us every day, we now look forward to the next chapter with enthusiasm and with a smile on our faces!”
Molly Warwick, a Bridgstock family representative, said: “When the Bridgstock family decided to sell the PEAK business the list for potential acquirers was short – based primarily on cultural fit and the passion to take the PEAK business to the next level. In SIMONA Group we are confident that we could not have found a better home for the PEAK business. We now say goodbye to our friends and colleagues knowing they are in safe hands for the future.”
SIMONA AG is a Germany-based manufacturer of thermoplastic products.
Supply chain shortages squeeze January car output but EV surge brightens outlook
UK car production fell -20.1% to 68,790 units in January, according to figures released by the Society of Motor Manufacturers and Traders (SMMT), the weakest January total since 2009.
Output was down 17,262 units against the same month last year, which itself was one of the worst Januarys on record when volumes were impacted by friction in the new post-Brexit trading arrangements, extended shutdowns and the pandemic.
Several factors conspired to drive year on year production down still further in January 2022. The sustained worldwide shortage of semiconductors was the most significant cause, exacerbated by the loss of volume arising from a major plant closure in July 2021 and production variations caused by the changeover of some popular models.
More positive, however, was the continued shift towards electrified vehicles, with zero emission battery electric vehicles now accounting for one in 11 cars made in the UK, as their production rose 37.6% to 6,326 units. Including plug-in hybrids and hybrids, electrified vehicles accounted for more than a quarter of output (27.4%, up from 25.4% in 2021).
Production for both overseas and domestic markets was down year on year, by -17.5% and -30.8% respectively, as exports accounted for more than eight in 10 cars made. The EU remained the largest destination for UK-made cars, taking 59.1% of exports, followed by China (10.4%) and the US (10.0%).
Mike Hawes, SMMT Chief Executive, said: “It’s another torrid start to the year as global supply issues and structural changes squeeze output while model changes impact production scheduling. The UK automotive manufacturing industry is, however, fundamentally strong and recent investment announcements are testament to the potential for growth, not least in terms of rising EV production.
“Long-term recovery can only be delivered, however, if global competitiveness is assured and for that we must address both inflationary and fixed costs, most obviously escalating energy prices, but also fiscal and trading costs. Every measure must be taken if we are to secure a bright, electrified future for our world-class automotive manufacturing base and the high skilled, high value jobs it creates across Britain.”
Reflecting the challenging start to the year, independent expectations for UK car production have been revised downwards from the autumn outlook by -2.4%, to approximately 979,000 units for 2022, although this would still represent a 14.4% increase on 2021’s outturn, despite the loss of some OEMs and some car production facilities switching to LCV production.
However, the future of electric vehicle production is more positive, following confirmations from several manufacturers to expand EV production in the UK. Longer term, car production is expected to exceed one million units from 2023 onwards, and surpass 1.1 million in 2027.
EMR launches personalised real-time Facebook Messenger and WhatsApp service for customers
East Midlands Railway (EMR) customers can now access customised travel information after the company launched its new messenger service.
EMR Messenger provides customers with personalised journey updates, including details of real-time disruption, alternative travel routes and busyness alerts, all delivered via the popular Facebook Messenger and WhatsApp channels.
Customers can opt-in to the service on either channel by visiting the live journey information page on EMR’s website and clicking ‘Keep Me Updated’ or alternatively by searching for EMR directly on Facebook Messenger.
Personalised WhatsApp or Facebook Messenger alerts will then keep customers fully informed about their journey, including:
Real-time messaging, disruption alerts, alternative routes, platform changes, and delay repay messaging.
Journey planning and routing around disruption and predicted issues in real-time.
Busyness alerts, based on unique forecast demand data proven to be scientifically accurate by the University of Birmingham.
Journey watch: the option to select regular journeys and sign up for ‘push only’ updates, meaning customers will be informed if anything might affect their journey.
Customers using the service on Facebook Messenger will also be able to access extra information, including:
Now & Next: a snapshot of the journey, on demand, including current arrival times, interchange details and multi-modal information all in one place.
Last mile support: welcome message before arriving at their destination offering onward journey support via all available transport modes (bus, e-scooters, taxi, walking, and cycling).
Customer service support: quick access to EMR’s customer service team and station facilities information.
EMR Messenger is powered by revolutionary AI and data prediction technology developed by Midlands-based company Zipabout who has pioneered the use of personalised information services for rail passengers across the UK.
The service will provide EMR with unprecedented insight into the way people use its network, enabling the planning of smarter journeys.
Neil Grabham, Customer Services Director at East Midlands Railway, said: “We are always looking at better ways to keep our customers up-to-date with the latest travel information when they take a journey with us.
“This new service will enable customers to take control and get personalised details tailored to their needs, making sure they only get the information that is relevant and important to them.”
Alex Froom, Chief Executive of Zipabout, said: “Real-time information tailored to each individual is essential to improve customer experience and confidence when travelling by rail, and EMR Messenger delivers that straight to the hands of passengers. No need for yet another travel app, just personalised support at the right time and through the channels they trust.”
University of Northampton partners with fruit manufacturer to battle plastics pollution
A new partnership has been forged to find solutions to what the United Nations has called the “disastrous” way plastic is used in farming.
In a report released in December 2021, the UN’s Food and Agriculture Organization says there is “irrefutable” evidence of the need for better management of the millions of tonnes of plastics used in the food and farming system each year.
Now the University of Northampton has teamed up with prepared fruit manufacturer Blue Skies and retailer Waitrose & Partners to launch a research and development hub that will find ground-breaking solutions to sustainability challenges, with its first focus being on environmentally-friendly alternatives to plastics.
The Fresh Produce Impact Hub (FRESHPPACT) will bring together retailers, manufacturers and agribusinesses rooted in developing or emerging economies, and work with research partners to rapidly evaluate, test and adopt the most ground-breaking solutions.
The University of Northampton’s Centre for Sustainable Business Practices will co-ordinate and project manage the initiatives that come through FRESHPPACT – focusing initially on the use of plastic in farming (agricultural mulch), packaging and workwear.
Chair of Centre, Professor Amin Hosseinian-Far, said: “Agriculture and the food industry must move away from the omnipresent use of plastic for the good of the planet. For example, thousands of tonnes of agricultural plastic often can’t be recycled as it becomes contaminated by soil ends up being burned or buried.
“For all of these problems, we are confident there are solutions – and assembling the partners and projects that will drive FRESHPPACT is a huge leap forward.”
FRESHPPACT is inviting any organisation – including but not limited to retailers, fresh produce companies, research organisations (including universities) and solutions providers – to register their interest in submitting possible projects.
