New, fully-funded programme to support business innovation and sustainability in Northamptonshire
The South East Midlands Local Enterprise Partnership’s (SEMLEP) Growth Hub has launched the Green Recovery and Innovation Programme (GRIP).
The effects of climate change are becoming clearer and clearer, and are currently only set to get worse. The science is unambiguous; we need to halve greenhouse gas emissions by 2030 and achieve net zero emissions by 2050 or risk facing serious consequences. Communities and businesses need to take action.
GRIP is an initiative funded by the Government via the UK Community Renewal Fund and delivered by SEMLEP’s Growth Hub available to businesses in North and West Northamptonshire. It is designed to make it as easy as possible for businesses to become more sustainable, more efficient, more innovative, and more successful.
The programme will consist of one-to-one support with a range of experts, including innovation and energy specialists, to help business leaders discuss, identify and develop their innovation and sustainability plans. After this, they will be able to attend a series of workshops designed to help boost their productivity and make their business more sustainable.
Businesses will also have the opportunity to apply for grants of up to £10,000 to spend on consultancy support and small capital items of up to £5,000 (50% private sector match required), and to support the innovations that will help make their business more sustainable.
By participating in the GRIP programme, business leaders will not only be making their organisations more innovative and sustainable, they will be making them more efficient and profitable by reducing waste and cutting costs.
Judith Barker, SEMLEP’s director of programmes and governance, said: “This programme is a timely and much-needed boost for the many companies in Northamptonshire looking to accelerate innovation and make themselves more sustainable, both environmentally and financially. We welcome expressions of interest on our website from any Northamptonshire-based business.”
Rachel Mallows, SEMLEP’s Growth Hub Board chair, said: “The Green Recovery and Innovation Programme is a wonderful demonstration that business success can and should go hand-in-hand with helping to protect the environment. It will make it easier than ever for Northamptonshire businesses to not only reduce their carbon footprint, but to evolve, grow and thrive at the same time.”
Leicestershire directors to drive awareness of modern slavery
One of the UK’s leading authorities on modern slavery is to address Leicestershire directors next month.
Justine Currell, executive director of anti-slavery charity Unseen, will be the special guest of IoD Leicestershire and South East Midlands on 7 April. The event is free to attend for everyone and will be hosted online, starting at 11am.
Unseen estimates that around 40 million people worldwide are in modern slavery. The UK has around 10,000 people in modern slavery, according to the Government.
Justine will outline her work with Leicestershire City Council to raise awareness of modern slavery issues, particularly within the textiles and fashion sectors.
She was instrumental in the Modern Slavery Act getting through Parliament and has worked closely with local authorities to raise awareness of abuse and exploitation by businesses and within supply chains. Under the Act, certain commercial organisations must publish an annual statement setting out the steps they take to prevent modern slavery in their business and their supply chains.
Justine joined Unseen in 2016 following a 28-year career in the Civil Service, culminating in leading the human trafficking agenda at the Home Office.
She will be joined at the event by Dr Roger Barker, IoD head of policy and governance, who will outline the Institute’s position on modern slavery.
Sarah Canning, chair, IoD Leicestershire and South East Midlands, said: “It is incumbent on all of us to be watchful for the appalling crimes of slavery and exploitation. As the leading organisation for directors, we want to amplify the excellent work being done but also provide business leaders with the latest information so they can consider their own positions, supply chains and employees.”
Manufacturing price expectations hit new high
UK manufacturing output grew at a brisk pace in the three months to March, but the balance of manufacturers expecting to increase prices rose to a survey record high, according to the latest monthly CBI Industrial Trends Survey.
The survey, based on 229 responses, found:
- The balance of manufacturers expecting to raise prices in the next three months rose to a survey record high in March (+80% from +77% in February, a question first asked in Jan 1975).
- Output volumes continued to grow at a robust pace in the three months to March (balance of +27% from +26% in the three months to February), with a similar rate expected in the three months ahead (+30%).
- Output increased in 10 out of 17 sectors, with growth driven by the motor vehicles and chemicals sub-sectors.
- Total order books matched the record level seen in November 2021 (+26% in March, from +20% in February, question first asked in April 1977). Export order books were above normal to the greatest extent since March 2019 (+7% from -7% in February).
- Stocks of finished goods were seen as inadequate in March but improved for the third consecutive month (-8% from -14%).
PR agency shortlisted for wellbeing award
A Northamptonshire PR agency has been shortlisted for an award in recognition of its commitment to wellbeing in the workplace.
Ballyhoo PR has been announced as a finalist in the East Midlands round of the FSB Celebrating Small Business Awards 2022 in the Wellbeing Award category. If successful at the East Midlands regional final in Leicester on Wednesday 6 April, the company will go through to a national UK final.
The FSB Celebrating Small Business Awards were established by the Federation of Small Businesses (FSB) to celebrate the achievements and contributions of small businesses and the self-employed across the UK.
The Wellbeing Award recognises businesses who have demonstrated their commitment to the health and wellbeing of their workforce by developing and implementing an effective, holistic strategy which has had a proven and significant positive impact on its workforce.
Ballyhoo PR has been recognised for creating a flexible and supportive place to work for its small team by offering a truly flexible way of working, particularly during school holidays, and by offering emotional support through regular workshops and training and one-to-one meetings.
Formerly based in Corby, Ballyhoo PR moved to its current premises at Lamport Manor in July 2021 after a period of remote working during the pandemic, and credits this move with also being a massive boost to team wellbeing.
Emma Speirs, director at Ballyhoo PR, said: “The new office has been a massive boost to the team and their mental health and wellbeing.
“Aside from the obvious benefits of moving into an office after working remotely for several months and thriving from being able to see each other and work more collaboratively in person, our new office is one of a few small, converted farm buildings in a courtyard and is in a lovely rural setting where our neighbours include a beauty salon, gym, Pilates studio and lots of horses!”
The team also have an office dog in Molly, Emma’s cockapoo who joins the team most days.
“Supporting working parents is something that I have always been hugely passionate about,” adds Emma.
“When I set up Ballyhoo PR in 2016, my children were six and three and I still hadn’t got that balance right between carrying on with my career and being there for my family. Personally, I wanted a job where I could develop and progress up the career ladder just as I had pre having kids but be there to take them to school, pick them up and have dinner with them and put them to bed.
“Starting my own business was a way doing both. As the business has grown and I have taken on employees who also happen to be parents, I wanted to create a supportive but productive working environment that allows everyone to work hard and use their hard won skills and knowledge but still be there for the sports days, school plays, drop-offs and pick-ups.
“We want to be part of, if not driving the change, to make being a working parent much easier and we are absolutely over the moon to have been shortlisted for this award. We will all be attending the event in April, which will be a wonderfully boosting experience for the team in itself.”
Construction gets underway on £12m Lincolnshire housing scheme
Work has begun on a £12m development that will create 39 new homes in Marton, Lincolnshire.
The two to four-bedroom single and two-storey homes in Stow Park Road are being delivered by E5 Living UK, which is promising a new generation of high specification eco-friendly homes including air source heat pumps for buyers looking for more sustainable heating options.
Marton Meadows is the second venture in the county for E5, which is also building nearly 100 new homes at King’s Park in Grimsby and has further sites in Market Rasen and Caistor primed for residential development.
E5 has teamed up with its King’s Park architect, the Cleethorpes-based Hodson Architects, for the project. It will be built by Kenmore Design, an experienced residential construction contractor that works across the UK, and the selling agent will be Lincoln’s Mount & Minster. The first properties are expected to come to market in the autumn.
E5 director, Kevin Stevens, said: “We are delighted to bring these much needed new homes to Marton, particularly as there’s a nationwide shortage of single storey and eco-friendly homes. People want to live cleaner and take responsibility for themselves concerning the environment we all live in.
“Our experience in Lincolnshire to date has shown that buyers are keen on the open plan contemporary style properties we deliver as they offer more flexible living and suit the way we use our homes today.”
E5 has already started building links in the community, building a new car park at the neighbouring Marton Academy and is looking to further support local charities and organisations during the build.
Andy Miles, director of Kenmore Design, said: “Working with E5 Living UK and in this area of Lincolnshire is an exciting development for us. We will be building on our supply chain network here, which will have a valuable impact on the local economy.
“E5 has a clear vision for a new generation of homes at Marton Meadows and we’re looking forward to delivering them.”
James Ward, partner at Mount & Minster, added: “It is a fantastic opportunity for environmentally conscious buyers who demand the highest standards of build quality and luxury finishes.
“E5 has really listened to what the market is asking for and the new homes in Marton will deliver this with style. I am excited to bring to market a development of extremely well designed and built high spec properties; it is a perfect fit with the Mount & Minster brand.”
Alliance Transport Technologies accelerates growth plans with multi-million pound BGF investment
Derbyshire-headquartered Alliance Transport Technologies (ATT) has attracted funding from the growth capital investor, BGF.
Alliance has pioneered the use of remanufacturing electronic components to allow commercial vehicle operators to decarbonise the maintenance of their fleets. Over the last few years, ATT has extended this expertise into Hybrid Electric Battery Technology.
Using ATTs capabilities, UK bus, coach and commercial vehicle operators are now able to significantly expand the life of the Hybrid Batteries, delivering them both cost savings, reducing their carbon footprint and levels of e-waste.
As a result, ATT has won long term service contracts to manage EV batteries with five of the largest UK National Bus Groups.
BGF’s investment will enable ATT to accelerate investment in R&D, with the opening of a new R&D centre near Coventry, and deliver ambitious expansion plans supporting fleet managers with innovative solutions to support resource efficiency, decarbonisation, and the move to EV & hydrogen over the next decade.
ATT’s growth objectives are underpinned by strong market dynamics driven by the increasing demand for remanufactured solutions as the green and circular economy agendas continue to accelerate.
Commenting on the deal, ATT CEO Ivan Gunatilleke said: “The last few years have been tough for all of us both personally and professionally. It is great to see the efforts of the entire ATT rewarded by the BGF investment. This is massive vote of confidence in a team that is committed to making a real difference.
“As a business, we’ve been growing steadily and have established ourselves as the first port of call for sustainable aftermarket solutions for our customers. ATT’s reputation has been built on our uncompromising approach to quality and a dedication to partnering with our customers to provide them with a solution that works best for them.
“The urgent need to meet carbon reduction goals and support government targets around the transition from diesel vehicles provides a significant opportunity for growth. BGFs backing means we can continue to invest heavily in the things that will make a real difference going forward. Not only research and development but also investing significantly into developing the entire ATT team and the value proposition that we can give our customers.”
The deal was led by BGF investors Aaron Baker and Elena Kovalikhina. Aaron Baker has also joined the Board as BGF director.
Thierry Bouzac has also joined the board as non-executive chairman (NXC), bringing significant experience from both the aftermarket and services sector. His appointment follows an introduction by BGF’s Talent Network.
Aaron Baker, investor at BGF, said: “In ATT, we are backing an enthusiastic and talented management team with a market-leading offering that’s helping customers reduce emissions and increase resource efficiency. In a critical year for energy transition, ATT offers cost, service and ESG benefits to customers, and is an early mover in fleet management support for hybrid and electric vehicles. We’re looking forward to supporting ATT building on the success it has had to date.”
The advisors to the transaction were Browne Jacobson (legal), Navigo (FDD), BDO (tax) for BGF and Clarkslegal (legal) for the company.
Corby investor acquires precision engineering business
Corby-based Nene Capital, an opportunity focused investor in UK SMEs, has acquired Seeco, a specialist precision engineering business based in Bedfordshire, in a deal supported by FRP Corporate Finance.
Nene Capital has acquired Seeco from its founder management team as its first transaction of 2022.
Seeco was formed in 1986 and has gone from strength to strength under the diligent stewardship of its management during the last three and a half decades.
Seeco has a long-held reputation for quality and client service, working with a range of customers as a trusted partner, with its loyal and experienced workforce giving the business considerable competitive advantage and it is Nene Capital’s aspiration to continue to support and grow the business from this robust foundation.
As part of the deal, the existing management team will remain in place for the foreseeable future and support Nene Capital to identify and appoint suitable successors in due course.
Stephen Bayliss, Managing Director of Nene Capital, said: “We are delighted to add Seeco to our growing portfolio of high performing SME’s. This has marked the culmination of what has been an extremely busy start to 2022. This recent acquisition sets out our aspiration for both pace and growth as we continue to build our high growth, high return strategies.
“Overall, we remain bullish about the UK upper SME market and our ability to continue to deliver value on a risk adjusted basis. We are actively pursuing other acquisition opportunities to continue to execute our growth aspirations.”
Simon Stringer, finance director of Nene Capital, said: “This is an exciting acquisition for Nene Capital. Seeco has built customer loyalty through a focus on quality and delivery and this has in turn established an enviable financial performance and stability. Seeco represents exactly the sort of business we are profiling for this portfolio.”
Harry Walker, partner at FRP Corporate Finance, added: “We were pleased to find the ideal home for Seeco; Nene Capital offer the business long term and supportive ownership, while facilitating a managed transition to the next phase of the business’s growth story.”
The founders of Seeco were advised on the sale by Harry Walker and Marco Piacquadio of FRP Corporate Finance, with legal advice from Simon Parrott of Sharman’s Law.
Work underway on new Eddie Stobart facilities at DIRFT
Work is underway on the construction of Eddie Stobart’s new, two-unit campus at Daventry International Rail Freight Terminal (Prologis RFI DIRFT), with cladding now being installed on the buildings. On completion, the new facilities will allow the company to further expand its road and rail operations.
Eddie Stobart has operated out of its existing facilities at DIRFT since 1997, and the plan is to vacate these properties on completion of the new units.
The build-to-suit project will see Prologis, the developer of logistics property, provide the haulier with two buildings, totalling 538,000 sq ft. Both buildings will benefit from a shared loading yard, which can be divided if needed. With a clear internal height of 18m, the buildings will also feature level access points, allowing for the loading and unloading of curtain-sided HGVs.
Sally Duggleby, vice president in the capital deployment and leasing team at Prologis UK, said: “We have a long relationship with Eddie Stobart and it’s brilliant to help them to expand their distribution operations at DIRFT. With work now underway, we are on track to complete the construction of the new buildings in Q3 2022. Our aim is to make Eddie Stobart’s transition to the new buildings as smooth as possible.”
Sally Duggleby continues: “There is a huge amount of development going on at DIRFT, including £100 million of infrastructure works and a brand-new rail freight terminal, which is set for completion in 2022.
“Since the start of the pandemic, we’ve seen just how important logistics and rail freight has been in supporting the nation and keeping vital food stocks and other much-needed consumer goods moving around the UK. We’re extremely proud that Eddie Stobart has chosen to further expand its foothold here.”
Prologis is advised at DIRFT by Savills and JLL; Eddie Stobart was advised by Roebuck Asset Management. The project is due to be completed in Q3 2022.
Yü Group outperforms forecasts in “remarkable year”
Yü Group, the independent supplier of gas, electricity and water to the UK corporate sector, has outperformed forecasts in terms of profitability, growth and forward looking contracted revenue in a tough year for the energy industry.
Its Group CEO says the company has “not only ‘weathered the storm’ but ‘blown it away’ in all key areas.”According to final audited results for the year to 31 December 2021, revenue grew to £155.4m from £101.5m in 2020. Meanwhile the company posted a profit before tax of £3.3m, up from a £1.5m loss in 2020.
Bobby Kalar, Group Chief Executive Officer, said: “We have delivered on our promise to deliver profitable growth, which is set to continue.
“2021 was a remarkable year and a stellar performance that’s seen the Group outperform forecasts in terms of profitability, growth and forward looking contracted revenue. Despite the turbulence of the global energy commodity market the business has remained focussed and disciplined underpinned by our robust hedging strategy.
“Our strategy is working well and the ‘hard yards’ have harvested rewards. With a very strong start to 2022 I’m pleased our January and February bookings, revenue and profitability have continued the momentum demonstrated in 2021.
“Our operational KPI’s used to measure and track performance drove over-performance in 2021. Revenue has increased by 53% to £155m, adjusted EBITDA and profit after tax leapt to £1.7m and £4.5m respectively, from losses in 2020, average monthly booking have jumped by 66% compared to £8.3m last year and the meter points on supply have increased by 83% in the year. I’m pleased our winning formula will continue in 2022 and beyond.
“Our inorganic strategy is contributing positively to our growth ambition. Being awarded the AmpowerUK B2B customer book in November by Ofgem, and two more customer books this year, provides an endorsement of our credentials and gives us confidence we are ready for bigger books be it via acquisition or via Ofgem’s Supplier of Last Resort process.
“We are making good progress with our Digital by Default strategy, which is seeing us design optimal processes for our customers with the launch of our digital customer portal and CRM customer journey.
“This year we will be supporting our customers transition on to our digital platform while continuing to deliver our unparalleled level of service. We now have the digital foundations in place and firmly embedded and we are looking forward to further enrichment of our data to drive profitable growth.
“It’s been a tough year for the energy industry in terms of unprecedented wholesale gas volatility causing some suppliers to exit the market, exacerbated by the effects of the pandemic. However, our results show we have not only ‘weathered the storm’ but ‘blown it away’ in all key areas.
“Our forward order book at 31 December 2021 stands at a record £157m to outflow during FY22. Our Digital by default transformation strategy is progressing well, and we’ve once again demonstrated our ability to migrate customer books onto our scalable platform. Our focus this year will be to continue the momentum of 2021 with continued emphasis on growth, profitability and further developing our already strong forward order book.
“We’ve become one of the fastest growing utility challenger brands in the UK and central to this success as always are the amazing people who I have the good fortune to work with every day. A huge thank you to all my team.”
Get a team together and make a splash for LIVES!
The iconic Lincoln Dragon Boat Festival, which takes place on 18 June on the Brayford Waterfront, will this year be raising money in aid of LIVES.
Several local firms across the region, including the reigning champions, Belton Construction, have already entered crews in what promises to be the biggest Dragon Boat Festival to date in Lincoln.
There is still plenty of time to raise a team and join in the fun! So, get your team of up to 10 paddlers, plus a drummer, together and battle it out in ornate 30 foot Chinese dragon boats over a 200m course along the Brayford Waterfront. The event promises to be colourful and great fun, no previous experience is required, just plenty of team spirit!
The teams will be encouraged to raise money for LIVES through sponsorship, raising funds for a life-saving Lincolnshire charity.
Tiffany Allen, fundraising manager from LIVES, said: “We are delighted to have received such an excellent response to our call for crews from local businesses across the region. The Dragon Boat Race promises to be a great day out and will entice some healthy competition between local businesses in order to raise these vital funds to keep our Emergency Responders on the road and continue saving lives in Lincolnshire.”
For further information and details of how to become a participating team contact Alex Bennett alex.bennett@ringroselaw.co.uk or visit https://www.ringroselaw.co.uk/about/lincoln-dragon-boat-race/
