Nottinghamshire-based software firm, Ideagen Plc, has revealed its first acquisition of 2022, with the purchase of MailManager Limited.
The acquisition is an indicator of Ideagen’s ongoing and rapid growth strategy and was completed for an upfront cash consideration of £26.4 million.
MailManager, a London-headquartered email management provider, helps businesses manage emails more efficiently and significantly improve control, collaboration and compliance, which is complementary to Ideagen’s existing regulated collaboration suite.
Its software is designed to integrate into clients’ existing IT infrastructure to help file and search critical correspondence to improve productivity, ensure information visibility and accessibility, and to mitigate risk.
The purchase expands Ideagen’s footprint in the UK and comes less than two months after the company announced it had raised £103.5 million to fund its acquisition pipeline and accelerate further growth.
MailManager’s clients span a broad range of mid-market to enterprise accounts, and has a particularly strong footprint in the architecture, engineering and construction sector, where Ideagen sees compelling cross-sell opportunities.
Ben Dorks, CEO of Ideagen, said: “What a great way to start the new year by giving a very warm welcome to everyone at MailManager. It has a resilient business model, a quality customer base, a strong team and outstanding technology.
“MailManager joins our growing suite of leading collaboration software, enhances our ARR base and has a strong presence in key end markets where we expect to be able to drive group-wide growth.
“Our mission is to help customers effectively navigate highly regulated environments through great software and we look forward to making further complementary acquisitions from our pipeline in due course.”
MailManager has annualised recurring revenues of approximately £5.1 million as of 31st January 2022. Ideagen expects that MailManager will benefit from the Group’s operational leverage and achieve EBITDA margins comparable to the Group’s margins within the first full financial year of ownership.
The acquisition will be funded from the Group’s existing resources and is the first acquisition following the Group’s equity fundraise in December 2021. The group continues to pursue a healthy pipeline of further opportunities in line with its M&A strategy.
Local charity Notts County Foundation has appointed Raj Randhawa to its board of trustees.
Quoting a passion for harnessing the power of football to drive positive social change, Raj started his career as an education officer at Newcastle United Football Club’s academy, after which he took on the head of community role at the Lincoln City Foundation in October 2017.
Raj currently holds the position of northern grassroots officer at Kick It Out – English football’s equality and inclusion organisation, where he works alongside the Football Association (FA) to identify and support the needs of local clubs.
Raj said: “I am delighted to have joined Notts County Foundation’s board of trustees at what is a really exciting period of growth for the charity. Football is a vehicle for change and can be used to positively impact the lives of people from all walks of life.
“My belief is that Community Club Organisations (CCO’s) play an invaluable part in transforming local communities, and I look forward to supporting the direction and development of Notts County Foundation’s programmes across Nottingham and Nottinghamshire.”
In addition to his role at Kick It Out, Raj offers consultative services with a focus on education, diversity, and inclusion and anti-discrimination governance to grassroots football clubs and organisations.
Sam Crawford, head of business development at Notts County Foundation, said: “Everyone at Notts County Foundation is thrilled to welcome Raj to the board of trustees. It goes without saying but Raj’s experience and expertise will be fundamental to the development of the charity throughout 2022, especially in relation to our commitment to providing equal opportunities for everyone in our local community. I am very much looking forward to working alongside Raj and formally welcoming his to Notts County Foundation.”
Raj added: “I am so proud of the work that Notts County Foundation do for all throughout the city and county across its five ‘SHINE’ areas – sport participation, health and wellbeing, inclusion, national citizen service, and education. Having dedicated a large portion of my career to working for community-focussed organisations and charities, I appreciate and understand how valuable charities like Notts County Foundation are.”
Derby-based contractor, G F Tomlinson, has highlighted the success of its annual apprenticeship programme and role as a Cornerstone Employer as it supported 25 apprentices last year alone.
The contractor, which has headquarters in Little Eaton, Derby, operates across the East and West Midlands delivering high-value construction projects in various sectors including healthcare, education, commercial, industrial, restoration, leisure and residential.
Its annual apprenticeship programme enables G F Tomlinson to employ young people and mentor them through hands-on work in the business whilst also supporting them to achieve their professional qualifications.
One of those young persons is Ed Smith, who was employed by G F Tomlinson aged 16 whilst undertaking a level 3 course. Now aged 22 Ed has completed his HNC course (Higher National Certificate) and his HND (Higher National Diploma) in Construction in the Built Environment at Derby College, whilst working on site four days a week.
Following the completion of his studies with the college, Ed has become the first Derby College apprentice to achieve the new level 4 construction site supervisor higher apprenticeship standard.
During his time with G F Tomlinson to date, Ed has progressed to the role of assistant site manager, helping to successfully deliver high-profile schemes, including the Advanced Manufacturing Building and Biodiscovery Institute for the University of Nottingham and most recently the major extension to Barr’s Hill School in Coventry.
On his role and experience, Ed says: “I spent time getting to know all the departments, including design, estimating and quantity surveying and have since decided to progress my career within a site management role.
“One of the best things about working as an assistant site manager at G F Tomlinson is the chance to work in lots of different places, meet many different people and work on some very interesting projects.
“I’ll be studying for my degree for the next three years at Nottingham Trent University, and once I’ve got my degree I’d like to work as a project manager, eventually managing £20million plus projects.”
Another apprentice, employed by G F Tomlinson in 2019 is Tiarna Powell, who completed her HNC course at the Roundhouse with a distinction, and is now studying for her HND with the Derby College Group.
Tiarna is working four days a week, gaining hands-on experience within the quantity surveying team having worked on projects including the Blythe Valley M2 residential mixed-use scheme in Solihull and a large industrial scheme on the new Wakefield Hub for developers HBD and Yorkcourt.
She will also be starting her degree in quantity surveying at Nottingham Trent University this year.
Tiarna says: “Through my work at G F Tomlinson I have been able to start my career in quantity surveying and study at the same time to gain my professional qualifications.
“I’m grateful that I have the opportunity to meet and work with so many different people at G F Tomlinson, and have the chance to work on a range of projects including Derbyshire Care Homes and Tunstall Town Hall – both exciting restoration projects which are bringing the buildings back to their former glory, whilst providing a modern upgrade to the interiors.
“I’m looking forward to starting my degree at Nottingham Trent University this year and continuing to progress in my career at G F Tomlinson.”
Working with the D2N2 Local Enterprise Partnership as well as local businesses and education providers, G F Tomlinson’s status as a founding member of the Cornerstone Employers group sees the contractor provide opportunities for younger people to gain knowledge and experience that can help them on their path towards a career in the construction industry.
Recently, G F Tomlinson’s construction director Kevin Dodds spoke at the launch event of the Derbyshire South Career Hub – a new scheme that aims to facilitate opportunities for young students to interact with local universities and other training, education and professional organisations – as well as strengthen links between education providers and local businesses to ensure students are prepared for their step into professional careers.
Kevin Dodds says: “It is wonderful to see apprentices such as Ed and Tiarna accomplish such a strong start to their careers in the industry, and we’re proud to be able to provide that opportunity for them.
“At G F Tomlinson, we are committed to delivering social value in the areas and communities in which we work, having supported 25 apprentices in the past year – providing investment and involvement into education is a huge part of that to inspire and support the next generation.
“Through our work we are able to engage with hundreds of school pupils, college and university students via a number of means including offering construction site tours of our projects, attending careers events and welcoming apprentices and work experience placements to join our team.
“Congratulations to Ed and Tiarna for all their hard work and achieving great results in their courses so far, and we wish them the best of luck towards their successful careers in the construction industry with G F Tomlinson.”
ThinCats, the alternative finance provider to mid-sized SMEs, has appointed Rajeev Raichura as Chief Financial Officer.
Rajeev brings nearly two decades’ worth of finance experience to the role, having previously worked at IBM, Experian, Capita, and Equifax Group.
Rajeev Raichura
He joins ThinCats from FTSE company LSL property Services plc, the UK’s largest mortgage and protection distributor, where he was group finance director of the Financial Services Division. Rajeev will based at Thincats’ office in Ashby-de-la-Zouch.
Rajeev Raichura, CFO, ThinCats, said: “I’m delighted to be joining ThinCats at this exciting time. ThinCats is on a high growth trajectory, and I am looking forward to helping navigate the business through the next stages of its development. Mid-sized SMEs make a vital contribution to the UK economy, so it’s very satisfying to be in a position to support the growth plans of some fantastic businesses.”
Amany Attia, CEO, ThinCats, said: “Following a record year of lending in 2021 and a strong start to 2022, I’m very pleased to welcome Rajeev to the senior leadership team. He brings a great deal of relevant experience and expertise at a time when we are supporting increasing numbers of SMEs across the UK.”
Panattoni, the industrial real estate developer, has begun speculatively developing a 575,000 sq ft logistics park at junction 28 of the M1 in the East Midlands.
Panattoni Park J28 Central M1 will comprise two units of 345,000 sq ft and 230,000 sq ft, which are expected to be completed in the fourth quarter of this year and will be built to a BREEAM rating of ‘Very Good’ and an EPC rating of ‘A’.
The 345,000 sq ft facility will benefit from 15m clear internal height, 32 dock doors, 4 level access, 291 car parking spaces, including electric charging points for cars and vans and 49 HGV spaces. The 230,000 sq ft facility will benefit from 15m clear internal height, 22 dock doors, 3 level access, 260 car parking spaces and 41 HGV spaces.
Buckingham Group Contracting has been appointed main contractor on site.
Andy Preston, development director at Panattoni, said: “This is a key logistics location in the UK, as 71% of the UK can be reached within a 4.5-hour HGV journey. The park can serve as a centre for same day e-fulfilment operations or as a national and regional distribution hub.
“We are excited to be bringing forward Grade-A buildings in a supply-starved market and we are already having conversations with potential occupiers, struggling to find suitable existing buildings.”
Letting agents are FHP and CBRE.
Leonard Curtis Business Solutions Group has completed the sale of Crouch Logistics Limited, saving all 198 jobs.
The Leicestershire-based logistics and courier business has been sold back to management following a period of marketing in January.
Administrators Conrad Beighton and David Griffiths of Leonard Curtis were appointed by Crouch Logistics following a difficult period dealing with increasing costs of labour, driver shortages, and the COVID-19 pandemic.
Conrad said: “We have worked closely with management and key stakeholders to ensure a business and asset sale could be achieved which has also safeguarded nearly 200 jobs. In this sector the employees are fundamental to the successful operation of the business so it was critical that their transfer formed part of any sale.
“Following a short period of marketing and engagement with a number of interested parties, a sale back to management was completed on 31 January 2022.”
At its height, the company’s turnover was circa £13.1m for the year ended September 2021.
PMW Property have continued to remodel their property investment portfolio, completing the acquisition of The Curve, NG2 Business Park in Nottingham – a prime 30,000ft² HQ building occupied by VF Corporation.
Whilst the terms of the transaction have not been publicised it is understood that VF occupy the property on a lease expiring December 2025 with the annual rent being £510,000 per annum.
The move by PMW may come as a surprise to some as PMW have traditionally built their property portfolio with an emphasis on industrial properties, many of which are older in their nature.
In recent years however there has been a significant change of emphasis within the group and they have successfully completed a number of new build schemes including a trade counter scheme and complementary industrial units in Swadlincote, new warehouses at Alfreton and they are embarking on the marketing of a distribution site on the A50 which can accommodate a 130,000ft² distribution unit.
Mike Wrigley, Managing Director of PMW, said: “We work closely with a number of agents including FHP. When John Proctor offered me the opportunity at The Curve it resonated very nicely in a complementary way with our own thinking as to how we should look to acquire properties as the economy and property sector seeks to continue to evolve as we come out of the depths of the pandemic period.
“We have traditionally looked at the industrial and logistics sector as our default sector to invest in but during the pandemic the exponential growth of e-commerce and the need for businesses to reach out directly to their customers has meant that pricing in this sector and sourcing opportunities which we feel have value has been a challenge.
“We do see that the office sector is one where there will be emergence of rental and capital growth as the market regains and retains its confidence.
“The Curve attracted us as it is located on Nottingham’s best Business Park and it is let to a high quality Tenant who are best in class within their own fields with brands such as North Face and Timberland.
“We recognise that there will be changes in occupational requirements. The Curve attracted us because the internal configuration allows the building to potentially subdivide floor by floor and if necessary on a wing by wing basis and the passing rent of £17 per ft² represents good value compared with the values of new build sectors and those rents being achieved elsewhere within the city.
“We are looking forward to working with John and his team, and with VF Corporation onwardly, as working with our Tenants has always been a key component of our business model and we continue to look for more opportunities in all sectors.”
John Proctor said: “This has been a rewarding acquisition to work on as we have worked with Mike Wrigley and PMW Property for more than 20 years now and not only do we value them as Clients but we feel they are very much part of the family and we hope equally they feel the same about us.
“Knowing your Clients is a vital component in advising properly and when I saw The Curve come on to the market I thought of Mike because he is always one to spot value and essentially the market price of this asset class is under priced because of the detrimental effect of the pandemic and the fear factor attached to the ‘future of the office’ and there is therefore hypothetically greater risk but you cannot escape the fact that this building is prime and it sits within Nottingham’s best Business Park.
“The Nottingham office market continues to transact and with there being no prospect of speculative development for the foreseeable future we believe that The Curve will remain one of the best buildings within the city for some time to come.”
M1 Agency acted on behalf of the Vendor.
Flint Bishop (Derby) advised PMW Property on all legal aspects with Addleshaw Goddard LLP advising the Vendor.
Safe and Sound, the local charity that specialises in supporting children, young people and families across Derbyshire who are victims of or at risk of child exploitation, has appointed a new chairperson.
Mark Richardson, a partner at commercial property agents BB&J Commercial in Derby, has been a trustee of the long-established charity since 2020 and takes over the role from previous chairperson Allen Graham.
Mr Richardson explained: “Child exploitation is an issue which many people understandably find difficult to deal with so find it easier to ignore. Sadly, the fact is that now more than ever it is an issue that needs to be recognised.
“I have greatly valued the opportunity to learn more over the past two years about Safe and Sound’s work and was keen to take on more responsibility to lead our committed and talented board of trustees.
“My focus is to support the CEO and management team in further developing the services that we offer to help children, young people and their wider families who have been affected by child exploitation positively rebuild their lives.
“I particularly want to see Safe and Sound even further embedded within the local and regional business community.
“As business people, we all have an important role in spreading key messages across our professional networks about the increasing dangers facing young people and in supporting the charity both financially and in kind to keep our communities safe.”
Safe and Sound Chief Executive Tracy Harrison continued: “Our services and support to local young people and families are in greater need than ever and I remain incredibly grateful to all the professionals who give their time and expertise to Safe and Sound to help us in our work.
“Their role as the ‘guardians of purpose’ will make sure that all decisions put the needs of children, young and their families at the heart of everything we do and I am particularly looking forward to Mark’s leadership as chairperson as we continue to develop the charity.”
Young people on work placements at Chatsworth set up to address rising youth unemployment have praised the valuable experience with several now progressing into permanent roles.
The Devonshire Group created a number of six-month placements under the Kickstart scheme last year across the garden, catering, farmyard, textiles, collections and wider operations at its Chatsworth and Bolton Abbey Estates.
Now several of the young people who have completed their placements have been offered permanent jobs. The good news looks set to continue with further roles being offered to others due to complete their Kickstart placements over the coming weeks, while other candidates successfully used the experience as a launchpad into related employment elsewhere.
Kickstarters Beth Cartwright and Georgia Wilson, who have been taken on as Collections Assistants, found the placements were an invaluable experience.
Beth said: “I’ve really enjoyed my placement here at Chatsworth, I’ve learned lots about conservation and what goes into keeping a collection. This is something I never thought would be available to me and I’m thrilled to be staying on full time.”
Georgia added: “I have learnt so much about the work that goes into running and maintaining a heritage site such as Chatsworth. I am delighted to now have a job as a result of my placement, allowing me to continue working in a field I love, and gain new experience.”
Chatsworth’s Head of Textiles Susie Stokoe said: “ Kickstart has been a great way to bring young people into the workplace giving them the flexibility to work in positions they may not have originally thought of.”
Over in the Chatsworth Farmyard and Adventure Playground, Josh Nicholls will be joining as an apprentice and Jordan Henshaw now has a permanent job as Farmyard and Adventure Playground Assistant.
Melissa Underwood, Farmyard and Adventure Playground Manager, said: “Kickstart has been a great programme and it has been a pleasure to watch our Kickstarters grow in confidence and gain new skills in a variety of ways.”
Farmyard apprentice Josh said: “I’ve had lots of fantastic support from everyone at Chatsworth. I’m absolutely thrilled to be starting an apprenticeship and look forward to learning more about animal care.”
Jordan added: “I feel like I’ve learnt a lot. The placement has also improved my general agricultural knowledge and I enjoy sharing the farming story with visitors. I feel brilliant about gaining a permanent job and look forward to the start of lambing and the new season.”
With Sustainability such an important area for the Devonshire Group, Tom Hendry was keen to create a high quality placement for a young person in this area. Following a successful placement, Ella Thompson has now been offered a full time role.
She said: “I knew I wanted a job where my work could contribute towards supporting the community or environment and that’s what sustainability is all about. I was happy that this placement allowed me to build experience and then continue into a permanent role, as I felt very welcomed here by colleagues. I hope to continue to become more confident and get involved in more sustainable initiatives.”
Nathan Fairhead, Talent and Training Coordinator, Devonshire Group, said: “We are thrilled at the progress of our Kickstarters and the attitude they have shown to working with us. They have thrown themselves into their placements, becoming valued members of their teams. We are very excited for how their experience with us will influence their careers, especially those who will remain with us.”
The Government’s Kickstart Scheme is open to young people aged 16 to 24 who are receiving Universal Credit, and at risk of long term unemployment.
About The Devonshire Group – www.devonshiregroup.co.uk
Group revenue has increased by 35% to £127.9m at Joules, the Market Harborough-based lifestyle brand. However with Group profitability impacted by factors including the severe inflationary cost environment, the company has said it will simplify operations.
The business has also been hit by global supply chain issues and labour shortages.
In interim results for the 26 weeks ended 28 November 2021 (H1 FY22), the group posted a pre-tax profit of £2.6m, decreasing from £3.7m in the same period of the year prior.
Meanwhile store revenue increased by more than 80% to £35.5m (H1 FY21: £19.7m), reflecting a strong recovery in retail demand to almost pre-pandemic levels.
Total e-commerce sales across the Group’s websites and third-party e-commerce partners increased by 14% against the prior period, and 53% on a two-year basis, driven by Garden Trading (acquired in February 2021) and strong performance through the Group’s digital partners.
Nick Jones, Chief Executive Officer, said: “Whilst the Group experienced strong levels of customer demand that resulted in good revenue growth against the prior two comparative periods, Group profitability in the first half was impacted by various factors, most notably the severe inflationary cost environment.
“We have a clear plan of action to simplify the business, enhance efficiencies and mitigate the cost pressures that will enable the Group to convert the strong levels of customer demand into sustainable, profitable growth.
“Whilst we acknowledge that there are areas within the business where we need to simplify our operations and improve profitability, we remain very excited in our long-term growth prospects.
“We have continued to see improvements in brand awareness and customer numbers, and we are confident that our broadened lifestyle proposition – which benefits from increased product and category diversification through Friends of Joules and Garden Trading – is more relevant than ever to consumers.”
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