Council pushing forward with plans to sell Nottingham Forest City Ground land
Nottingham City Council is pushing forward with plans to sell the land Nottingham Forest’s City Ground stands on.
At a meeting of the Executive Board, it was agreed to put the freehold up for sale to the club.
Council documents indicate it is looking to complete the disposal in 2024/25.
It follows confirmation from the leader of Nottingham City Council, Councillor Neghat Khan, that the council had agreed, in principle, terms for the sale of the land to Nottingham Forest.
She added: “This allows the club to press ahead with its ambitious plans to expand the stadium, while securing a significant capital receipt for the council.”
Nottingham Forest, however, has said that any decision to purchase the freehold will be entirely conditional on the football club first being granted the relevant permissions that will allow it to realise its plans for a larger stadium capacity, world-class hospitality spaces and associated real estate development. Decisions on these plans will be in the hands of Rushcliffe Borough Council.
The news comes after negotiations for a lease extension reached an impasse earlier in the year, with the council requesting a larger sum for the lease.
Derby firm merges with accountancy group
Derby-based accountancy firm Ashgates has announced a strategic merger with Stoke-on-Trent headquartered accountancy group, DJH.
The merger springboards DJH group into the East Midlands, expanding its footprint alongside its existing 10 offices across the Midlands, North-West, and Yorkshire regions.
The new partnership provides Ashgates clients with access to additional specialist in-house services offered across the DJH group, including enhanced R&D and capital allowances teams, commercial funding, dedicated corporate finance, estate planning, and HR.
Directors Tony Lymn, David Newborough, Steve Martin, Ian Johnson, and Gavin Booth will continue to lead the Ashgates team and will all remain shareholders. Jonathon Williamson will also be promoted to Director, having developed his career with Ashgates. Jon Wolliter will continue to head up Ashgates IT, supporting clients with IT solutions.
Tony said: “We are delighted to join forces with DJH. This partnership will strengthen both firms’ capabilities and provide our clients access to additional specialist services. It will also allow continued investment in the learning and development of our team, creating opportunities for them to grow and flourish.”
Scott Heath, Chief Executive Officer of DJH, said: “Ashgates is a great cultural fit, sharing our team-first, client-centric approach. They have built a business based on delivering exceptional business advice.”
He continued: “Founded on principles of progressive thinking and building strong client relationships, Ashgates has a comprehensive range of services, including IT support and solutions, further expanding what we offer across the Group. We’re excited about the opportunities this partnership with Ashgates will create for our teams and clients alike.”
Ashgates will retain its name and brand, and its offices will remain at 5 Prospect Place, Pride Park.
Internally, the partnership will give Ashgates more support in relation to its own HR, recruitment, and training and development.
Private equity investor exits investment in educational specialist
The East Midlands team of LDC, the private equity investor which is part of Lloyds Banking Group, has led the successful exit of its investment in educational specialist The Edwin Group to Quad Partners after a three-and-a-half-year partnership.
The Edwin Group is a values-led business, employing a team of education specialists who work nationally with schools and multi-academy trusts to safely recruit and retain the highest quality leaders, teachers and support staff.
The group is one of the UK’s largest providers of supply teachers to primary, secondary and special educational needs schools across the Vision for Education, ABC Teachers and Smart Teachers brands.
In the last 12 months, The Edwin Group has recruited over 11,000 teaching and support staff and delivered continuing professional development (CPD) to equip them with the skills they need to support schools and their young people.
Further underpinning The Edwin Group’s three strategic pillars to recruit, retain and reduce workload, are staff wellbeing specialists Still Human, curriculum enrichment services Commando Joe’s and Enrich Education, safeguarding platform Llama ID and strategic HR and leadership services from Edwin People.
LDC backed the management buyout of The Edwin Group in December 2020 from Tes Global.
Following the carve-out, the management team, led by CEO Liam Roberts and the core team of Darren Starling, Will Washington and Fiona Baker, pursued an ambitious growth strategy underpinned by four acquisitions and the expansion of the Group’s services.
The business now works with over 4,500 schools across the UK and opened nine new locations during the investment period.
The growth has been accompanied by significant investment in The Edwin Group’s people. During the partnership, the Group bolstered its senior team by appointing Sarah Monk as Chief Strategy Officer, Charlie Afif as Chief Information Officer, Diane Sequeira as Director of Product, Lucy Fox as Director of Strategic Partnerships, Hannah Dimech as Director of Marketing and Lyndsay Greathead as Director of HR.
US-based specialist education investor Quad Partners will now support The Edwin Group on the next stage of its growth journey, as the business continues to broaden its support for schools to address challenges linked to the recruitment and retention of teachers.
Liam Roberts, CEO at The Edwin Group, said: “With the team at LDC’s support, we are now better equipped than ever to meet schools’ and multi-academy trusts increasingly complex needs.
“Importantly, we’ve been able to grow the business and expand our range of products and services without losing sight of our values or our commitment to excellent customer service. We’re looking forward to embarking on this next chapter, working with more schools and multi-academy trusts, to positively impact the lives of young people.’
David Bains, Partner and Head of the East Midlands and East of England at LDC, added: “We were delighted to back a team who had a strong vision for an education services business.
“Almost four years later the same team has created a business that helps schools and multi-academy trusts with their evolving needs and challenges, whilst it has invested in its people, acquired and diversified its services and bolstered its ESG credentials. I wish them every success in the future.”
LDC was advised by Grant Thornton (corporate finance), EY Parthenon (commercial due diligence), BDO (financial due diligence) and Browne Jacobson (legal due diligence).
Nottingham-headquartered financial planning business makes acquisition in Kent
Nottingham-headquartered financial planning business, Wren Sterling, has snapped up Howe Maxted Financial Services.
Based in Sidcup in Kent, the Howe Maxted Group consists of Howe Maxted Financial Services and Howe Maxted General Insurance which is being acquired separately by JM Glendinning.
Wren Sterling now operates from 14 offices covering 12 locations across the UK with other deals at advanced stages, which will further grow its network.
James Twining, Wren Sterling’s CEO, said: “I’m delighted to welcome Howe Maxted Financial Services with their distinguished heritage and enduring client relationships. The team comprises very impressive professionals with the right blend of experience and enthusiasm for delivering for their clients.
“They have built a strong business through loyal client relationships and an excellent referral culture with the general insurance business that was part of the same group.
“Kent is a location we have targeted for some time because of its wealth and proximity to London, which will allow our teams to work closely together and help grow our business organically. The proposition that we have built for Wren Sterling clients will also be a great fit for Howe Maxted’s client, including Magnus, our discretionary fund management business.”
John Austin and David Baker, Directors of Howe Maxted Group, said: “With origins dating back over a century we are proud to have provided quality solutions to thousands of clients over many generations.
“Wren Sterling offers an enhanced range of financial planning services, shared values, and greater opportunities to benefit our clients for many years to come. Our focus remains on delivering personalised, high value planning services to clients within the security and framework of a national organisation.’’
Sir John Peace appointed independent chair for Greater Carlton Town Board and launches consultation on £20m fund
Sir John Peace has been appointed as the Independent Chair to lead the newly established Greater Carlton Town Board, an initiative set to empower local communities and shape the future of Greater Carlton and the surrounding areas with £20 million in endowment-style funding over the next decade.
The first meeting of the board was held on Wednesday 10 July at Carlton Le Willows Academy to discuss the next steps in delivering the long-term plan for the area. The board has agreed to launch a consultation, which opened on Monday 15 July, to ask residents for their views on how the money will be spent.
In March, Greater Carlton, including Carlton Hill, Netherfield, Gedling, Colwick, Burton Joyce, Stoke Bardolph, Mapperley and Mapperley Top, were selected to receive Long-Term Plan for Town funding from the government. The establishment of the Greater Carlton Town Board is a pivotal step towards community-driven decision-making, placing local people at the forefront of shaping their town’s future.
The Independent Chair will play a crucial role in leading the Greater Carlton Town Board, bringing together diverse interests and facilitating consensus to develop a comprehensive 10-year vision for Greater Carlton. Following an advertisement for expressions of interest and subsequent assessment of applications, Sir John Peace was appointed as Chair.
Sir John Peace has a long and distinguished business career at the highest levels covering the technology, financial services, and retail sectors. He was formerly Chairman, Chief Executive, and Founder of Experian plc; Chief Executive of GUS plc; Chairman of Standard Chartered plc; and Chairman of Burberry plc—all FTSE 100 companies.
Other board members have also been appointed, including the local MP for Gedling, Michael Payne, the Leader of Gedling Borough Council, Councillor John Clarke MBE, Nottinghamshire County Councillor Keith Girling as well as local business leaders and community representatives.
Sir John Peace, Independent Chair of the Greater Carlton Town Board, said: “I am very pleased to have been appointed as the interim Chair of the Greater Carlton Town Board. We have an opportunity to make a real difference to the lives of people living in Carlton and the surrounding areas with this funding.
“I am looking forward to hearing from residents about their ideas for the area. I will make sure that the board is fully focused on the needs of the local community, and we will put together a plan that is led by the community that will create growth in the area. I very much look forward to the opportunities that will arise from this project.”
Leader of Gedling Borough Council, Councillor John Clarke MBE, said: “We are incredibly pleased that Sir John Peace has agreed to chair this important board. He has a great track record of success in business, he knows the area well, and like us, he cares about the residents and businesses in Carlton and the surrounding areas.
“We will now start the hard work of creating a real plan that will be community-led. It will be their voices that decide where this money goes, and I am very excited about the possibilities that this project will bring. We have been desperate for investment in these areas, so it’s now time for us to get on with the task of improving the Greater Carlton area.”
Property consultancy appoints Environmental, Social and Governance partner
A property consultancy has announced a new role which will see it at the forefront of devising and delivering Environmental, Social and Governance (ESG) strategies.
Fisher German has appointed Rachel Bridge as ESG Partner at the firm.
Rachel, who joined Fisher German in 2007, has spent her career within the firm’s infrastructure services division, and has extensive experience in Account Management as well as managing infrastructure assets.
She has strong knowledge of the importance of green energy and the transition to Net Zero as well as the ESG challenges being faced by businesses.
Rachel is the current chair of the Pipeline Industries Guild, has governance experience, and led the sustainability workstream in the Guild’s 2025 strategy
She takes an active role in mentoring young professionals, champions Equality, Diversity and Inclusion (EDI) in everything she does and is also a Science Technology Engineering and Maths (STEM) ambassador in her spare time, championing careers in the industry to young people.
The newly-created role will see Rachel advise clients on their ESG strategies, ensuring their property meets both legislative requirements and internal ESG targets.
Rachel is based in Ashby and will be working across the firm’s network of 26 offices.
Rachel said: “I’m extremely pleased to take on the new role of ESG Partner at Fisher German.
“We are seeing an increasing number of companies make corporate ESG targets outside of legislation, and having a dedicated Partner working in this area demonstrates Fisher German’s understanding of its importance.
“Finance and ESG are intrinsically linked, and having a strong strategy in place can attract investment, save on energy costs and support with the recruitment and retention of talent as people look to work for responsible businesses.
“At Fisher German we have acted for landowners on more than 150 solar parks, 80 anaerobic digesters and 600 farm and commercial-scale wind projects, we advise on 750,000 acres of estate land and have a 99.4 per cent success rate in planning applications.
“I will be working closely with our planning, agri business, natural capital and sustainable energy teams to help service clients from across the business.”
Liberty Stones, Divisional Managing Partner for Advisory Services at Fisher German, added: “ESG criteria plays a crucial role in our decision making, and in building lasting value for our clients. We are delighted to have a dedicated Partner working with our people and clients to prioritise ESG.”
Aggregate Industries names new CEO
A new Chief Executive Officer has been appointed to lead Leicestershire-based Aggregate Industries UK, part of the global Holcim group.
Earlier this year it was announced that current CEO, Dragan Maksimovic, had been appointed as Region Head West Europe overseeing the leadership of the Holcim businesses in the UK, France, Belgium, Germany and Spain.
Holcim group has now announced Lee Sleight as the new CEO of Aggregate Industries UK. He will take up his position on 1 August 2024.
Lee joined the business in 2021 as Managing Director of the readymix concrete division and in his time there transformed the business. Last year he moved to take up the role as Managing Director of the aggregates division.
Lee has more than 20 years of experience in the construction industry holding various senior leadership positions.
Outgoing CEO and Holcim Region Head West Europe Dragan Maksimovic, said: “Firstly, I’d like to congratulate Lee on his appointment. He will make an excellent CEO.
“I have worked closely with him for the last few years and he has a proven track record in leading and transforming businesses. I am confident he will continue to drive the business forward while delivering on our ambitious plans of decarbonisation and green growth.”
Lee Sleight, Aggregate Industries UK new CEO, said: “It is a very proud moment for me to be chosen to lead this fantastic business. Having been with the company for a number of years I know first-hand how amazing the people who work here are.
“I am now really looking forward to working with our teams around the country in order to deliver on our ambition to be the UK’s leading supplier of sustainable construction materials and to keep progressing on our journey to a net zero future.”
Kaziwe Kaulule will succeed Lee as Managing Director of the company’s aggregates division. Kaziwe joined AIUK in October 2023 as Director of Strategic and Commercial Growth, having previously been CEO of Holcim’s South Africa and Zimbabwe businesses.
Inflation stays stable at Bank of England’s target
Inflation has held steady at the Bank of England’s 2% target, according to new figures from the Office for National Statistics (ONS).
Measured by the Consumer Prices Index (CPI), which rose by 2% in the 12 months to June 2024, the same rate as the 12 months to May 2024, it means prices in June increased at the same rate as May.
The largest upward contribution came from restaurants and hotels, where prices of hotels rose more than a year ago; the largest downward contribution came from clothing and footwear, with prices of garments falling this year having risen a year ago.
Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, rose by 3.5% in the 12 months to June 2024, the same rate as in May.
Martin Sartorius, Principal Economist, CBI, said: “The fact that inflation is stable at the Bank of England’s target will be welcome news for many households as we start to see things return to normal after period of high price growth. However, it’s worth noting that many have yet to feel the benefit of lower inflation due to the high level of prices, particularly for food and energy bills.
“Today’s data paves the way for an interest rate cut next month, which would begin to provide some relief for firms and households that are struggling with high borrowing costs.
“Going forward, the Bank’s Monetary Policy Committee will be mindful of potential upside risks to inflation in the near-term as the domestic growth outlook improves. They are also likely to move carefully as they assess the impact of the first rate cut in four years.”
Greggs to create new National Distribution Centre in Kettering
Tritax Symmetry has announced plans for a new National Distribution Centre for Greggs plc at Symmetry Park, Kettering.
The planning application details proposals for 311,551 sq ft of logistics space on a 25.1-acre plot. The unit will be designed to a BREEAM ‘Very Good’ standard, achieving an EPC A rating and meeting Net Zero Carbon in Construction requirements.
The initiative is part of Greggs’ strategic growth plan, announced in 2021, which set out ambitious expansion targets requiring investment in significant supply chain capacity.
Greggs currently has 2,500 shops and its longer-term growth plans target an estate of significantly more than 3,000 shops in the UK. This investment will bolster its capacity to directly supply ambient and chilled products to a growing portfolio of shops.
Tritax Symmetry is also seeking planning permission for an additional 100,000 sq ft to enable Greggs to expand the site further. The centre will be a key part of Symmetry Park, Kettering, which extends to 136 acres in total and benefits from outline planning permission for 2,310,000 sq ft of logistics floor space overall.
Subject to planning, Greggs expects its National Distribution Centre on Symmetry Park, Kettering, to be operational in the first half of 2027.
Tritax Symmetry is being represented by BNP, Cushman and Wakefield, and DTRE. Wright Silverwood is representing Greggs.
Gateley continues revenue growth streak
Gateley has hailed a “good financial performance” in its audited results for the year ended 30 April 2024 (FY24), as the professional services group extends its unbroken record of revenue growth since IPO in 2015.
The business increased revenue by 6% to £172.5m, while delivering an underlying profit before tax of £23m (slipping from £25.1m in the previous year) after reinstating the payment of employee bonuses of £4.5m.
Gateley said this was “in recognition of our people’s contribution to a resilient outturn and our more positive outlook as we move into FY25.”
During the year, the company continued execution of its M&A strategy with the July 2023 acquisition of Richard Julian and Associates Limited (RJA).
Rod Waldie, CEO of Gateley, said: “I am pleased with our FY24 outturn given our cautious view of market conditions during the Period, particularly around the turn of the calendar year in H2. Our people have worked hard to deliver another year of growth via our increasingly diverse and resilient business model, combining complementary legal and consultancy services.
“During the Period we continued to make organic and acquisitive investments in both our legal and consultancy services and in related systems. RJA Consultants was acquired onto our Property Platform in July 2023, adding further expertise and capacity to our quantity surveying and project management offering. It is already performing ahead of the board’s expectation.
“Our legal services class actions team, established in May 2023, launched its first case in late February 2024. Our investment in this team is a high-profile example of the type of investment that we are looking to make to enhance our returns over the medium to longer-term.
“Our M&A and lateral hire pipeline remains encouraging and we are committed to further enhancing each of our Platforms as suitable opportunities arise, aided by our net cash position and ample headroom in our banking facilities.
“Looking forward, we are encouraged by strengthening transactional activity levels, which began in Q4 FY24. Our immediate outlook is best characterised as cautiously optimistic. Our resilient and financially robust foundation, allied to our unbroken track-record of growth, underpins our confidence to continue our long-term strategy of investment in people and systems.
“This strategy has worked well for us since IPO in 2015 and through disciplined application of it, we ensure that the Group remains well-positioned for further growth and enhanced returns for all stakeholders.”
