Technology management consultancy chooses Derby’s iHub innovation centre as new base
Specialist technology management consultancy Project4 Learning Lab is the latest hi-tech business to relocate its operation to Connect Derby’s iHub innovation centre on Infinity Park.
The company was founded by Keith Howells in 2019 after a 21-year career with Rolls-Royce, working in senior engineering leadership roles and running transformational programmes. He now inspires leaders to change their way of thinking in order to improve operational performance.
The office space and facilities available at the iHub will help the company to expand its services and team further as the business grows.
Its six dedicated areas of expertise include leadership training and development, business agility consulting, lean agile product development consulting, coaching for performance, digital enablement, and strategy deployment consulting.
The company currently employs six staff and is expanding on a growth trajectory, with revenue up three times compared to the same time last year, which was up three times on the previous year. There are plans to recruit further staff during 2022 to cope with demand.
The iHub, which has Enterprise Zone status, provides flexible workspace for start-ups, early-stage businesses and high growth SME’s looking to establish, or expand their role in the transport engineering and hi-tech sectors.
Since it was launched in 2016, the £12m facility has attracted a diverse range of businesses from across the rail, aerospace, and automotive supply industries. As well as 18 traditional office workspaces, it features 14 ground floor workshops for businesses seeking a more hybrid working environment.
This is complemented by the innovative ‘iLab’, which provides a local facility to undertake initial design, prototyping and testing of new products and services. It features an additive manufacturing cell, including vacuum casting machine, digital microscope, 3D printers and 3D AutoCAD software.
Speaking of their decision to base their business at the iHub, Keith Howells, said: “We are delighted to be at the iHub, which is perfect for our needs. It was essential for us to find a high-quality, flexible workspace, and the iHub gives us a great platform to expand our customer base and collaborate with more businesses in the planes, trains, and automobiles (PTA) sector.
“The Connect Derby staff have all been very welcoming, including the reception team and business support adviser Pauline Roessler, who provided me with invaluable advice.
“We enjoy helping businesses who want to be more agile and understand their external environment better to change and improve.
“We work from the premise that insight and impetus result in innovation and work hard to improve our clients’ speed of learning, give them the insight to act differently and deliver innovation. Going forward we plan to grow the size of the team and increase our presence in different areas and help businesses make a bigger contribution to CSR.”
Ann Bhatti, head of Connect Derby, added: “We’re excited to welcome Keith and his team to the iHub. For the last five years, the iHub has established a reputation for supporting innovative businesses like Project4 Learning Lab.
“We provide a collaborative environment for businesses to grow, and we look forward to supporting the team at Project4 Learning Lab as they continue their impressive growth.”
Nottinghamshire celebrates record year for company formations
Latest figures show that more new businesses were established in Nottinghamshire during 2021 than in any previous year – despite the continuing economic challenges resulting from the pandemic.
In total 8,810 new companies were registered in the county, bringing the total number of registered companies in Nottinghamshire to 58,780.
The statistics come from the Inform Direct Review of Company Formations using data from Companies House and the Office for National Statistics.
Nottingham formed the highest number of new businesses (3,255), followed by Mansfield (1,091) and Broxtowe (976).
John Korchak, Operations Director at Inform Direct said: “It is excellent news to see that Nottinghamshire has achieved a record year for new company formations during 2021 despite the continuing challenges of the pandemic.
“This demonstrates an active economy with entrepreneurs motivated to invest in new businesses which meet current and emerging demands for goods or services. The overall picture for the UK as a whole is also an optimistic one with the total number of companies now exceeding five million for the very first time.”
The UK saw 771,617 new businesses formed, compared to 780,760 in 2020. The overall number of UK companies totalled 5,005,147, a 3.5% increase on the total of 4,837,426 at the end of 2020. This continues a ten-year trend which shows the number of businesses in the UK doubling in that period.
Whilst company formations grew, the number of dissolutions across the UK – 606,912 during 2021 – hit a record high. Reasons for this may be that new enterprises set up early in the pandemic may no longer be operating as people have returned to full-time employment or businesses thriving pre-COVID-19 have suffered as behavioural and spending patterns have changed.
East Midlands council leaders consider options for new devolved powers and resources
The leaders of Derby City Council, Derbyshire County Council, Nottinghamshire County Council and Nottingham City Council have released a joint statement about options for devolution.
It follows the publication of the Government’s Levelling Up White Paper in which local leaders were invited to put forward a vision for improved services. If approved, authorities would be granted greater powers and more funding from Westminster, to improve services and the lives of communities and residents.
“It is clear the Government’s Levelling Up White Paper offers real opportunities for much needed investment in our region. We were pleased to be named in the White Paper as Cities and Counties which are ready for devolution of essential powers and resources, to help level up our places and economies.
“It is important we consider all options and garner wide support. We have met to consider the options available to us, and there have been initial discussions between senior council officers and Government officials. It is too early to say where these discussions will lead.
“We have made it clear that we are open to joint working, because we can see how collaboration between us and with our partners could bring significant benefits to local people. It is clear that the East Midlands has not had its fair share of government funding for a number of years, so it is important that we explore every avenue to address this issue.”
- Ben Bradley MP, Leader of Nottinghamshire County Council and Chairman of the City of Nottingham and Nottinghamshire Economic Prosperity Committee (EPC)
- David Mellen, Leader of Nottingham City Council
- Barry Lewis, Leader of Derbyshire County Council
- Chris Poulter, Leader of Derby City Council
Green light for new business park in Lincolnshire
Around 50 new jobs are one step closer as the green light is given for a brand-new business park in Lincolnshire.
Located on the outskirts of Gainsborough, the new business park named Wharton Place, will be developed by established local commercial and residential property developer, Stirlin.
Stirlin have received planning approval from West Lindsey District Council for three phases of Wharton Place, which will be their third commercial development in the area.
The site is located on Foxby Lane, adjacent to Lincoln County Council’s Business Centre, Mercury House, with easy access to the A1, M180 and A15 road networks.
Wharton Place will provide over 18,500 sq ft of new employment space across 1.3 acres, with a mix of light industrial units in sizes ranging from 1,270 sq ft – 2,500 sq ft.
The site currently has consent for Use Class E(g), with the potential to consider other uses subject to planning.
All units on the development will benefit from allocated parking, an electric sectional door, a personnel door and DDA compliant toilet facilities, as well as an eaves height of 5 metres to accommodate a mezzanine floor upon request.
Tony Lawton, Managing Director of Stirlin, says: “We are delighted to receive approval for Wharton Place. We’re seeing a significant increase in demand for modern, cost-effective industrial units for manufacturing and distribution, particularly now that more people than ever are trading online.
“This is the third plot of land in Gainsborough that we have purchased from Lincolnshire County Council, following the success of our two other developments in the area: Stirlin Place and Willoughton Place.
“Our investment in the area is a testament to the town’s growing appeal as a thriving place to live, work and invest in. We are pleased to be able to help facilitate the town’s growing business base and bring new employment to the area.”
Cllr Colin Davie, Executive Councillor for Economy at Lincolnshire County Council, says: “The sale of this land and development of the new business park will be a great and substantial addition to this part of Gainsborough. Building on and enhancing the commercial offer that is already in place nearby, including our own business centre Mercury House, the land will support businesses to start-up, re-locate and grow.”
Now that plans are approved, further details are due to be released on the first phase imminently.
Revenue rises, pre-tax profits fall and shareholders approve acquisition at Clinigen
Revenue is up, while pre-tax profits have dipped at Clinigen, the pharmaceuticals and services group, according to half year results for the six months ended 31 December 2021.
The Burton-based business posted net revenue of £238.1m, up from £215.7m in the same period of the year prior. Meanwhile profit before tax was £10.1m, down from £23.5m.
The news follows Clinigen’s shareholders voting to approve an increased all-cash acquisition of Clinigen by Triley Bidco Limited.
In December 2021, Clinigen announced an agreement on the terms of a recommended all-cash offer by Triley Bidco Limited (a company indirectly owned by Triton Investment Management Limited) for the entire issued and to be issued share capital of Clinigen. Under the terms of the original offer Clinigen shareholders would have been entitled to receive 883 pence for each Clinigen share.
On 17 January 2022 the terms of an increased and final recommended all-cash offer were announced at an increased value of 925 pence for each Clinigen share.
The increased final offer values the entire issued and to be issued ordinary share capital of Clinigen at approximately £1.3 billion on a fully diluted basis.
Shaun Chilton, Group Chief Executive Officer of Clinigen, said: “We have seen good delivery across all areas of the business during the first half of the year. Our EBITDA and net revenue growth despite the ongoing market challenges presented by COVID-19 demonstrates the benefits of our diverse and global lifecycle platform.
“Shareholders have voted to approve the increased all-cash acquisition of Clinigen by Triley Bidco Limited, which the Board has recommended, and we are excited about the next chapter of Clinigen’s growth as a private company. We will continue to focus on those areas of the business where we have sustainable competitive advantage and build out the platform to deliver more value for our pharmaceutical clients and healthcare professional customers globally.”
Major improvement plan that could create over 12,000 jobs published for A50/500 corridor
Regional transport body Midlands Connect has released a major report outlining a series of improvements to A50/A500 corridor. The upgrades are targeted at reducing congestion, supporting local businesses and promoting greener transport use – including the take up of electric vehicles.
The plans from Midlands Connect could create a £12 billion economic boost and help to unlock over 12,000 jobs. New research released alongside the report shows that drivers are losing over half an hour (37 minutes) every weekday due to congestion on this vital route.
The report, called Levelling-up Stoke, Staffordshire, Derby & Derbyshire: The road to success outlines a series of strategic recommendations for long-awaited upgrades, badly needed to alleviate bottlenecks along the 90km long A50/A500 corridor, which links Derby, Nottingham and Leicester to Stoke-on-Trent, Staffordshire and the North-West.
Large manufacturers such as JCB, Rolls-Royce, Toyota and Alstom rely on this key East-West route to keep supply chains moving and provide links to international markets – currently, traffic congestion on the A50/A500 threatens to stand in the way of business growth. The route sees between 60,000 to 90,000 vehicles passing along it every single day.
With deadlines to secure funding via the Department for Transport’s Road Investment Strategy (RIS) schemes fast approaching, Midlands Connect is working closely with local authorities and other partners to help turn its plans into reality. By putting together a phased, corridor wide approach, it is hoped that improvements can be brought forward and provide good value for money, something that has previously been a barrier to progress.
Suggested improvements on the corridor include:
On the corridor’s Western Section, running from Blythe Bridge, Staffordshire to M6 J15-16 (through Stoke-on-Trent):- Strategic improvements to M6 J15 to resolve congestion, to improve safety and facilitate better flow of traffic on M6 and A500
- Enhancements at Sideway to make traffic flow more smoothly, including strategic changes to the roundabout and lanes at the junction, as well as addressing the signalled junctions that cause traffic to build up on the route
- Technology-led improvements to improve the reliability and safety of the M6 between Junction 15 and 16
- Grade separation of the A50 and local roads at two locations in Uttoxeter, with associated slip roads to provide access and other potential enhancements to support growth and boost local active travel networks
- Enhancements to existing roundabouts at Sudbury and Blythe Bridge to increase capacity and reduce delays
- Improvements to A38/A50 Toyota junction to improve capacity, safety and general operation (recommended as immediate priority to be delivered through an appropriate source of funding).
- Widening of the A50 south of Derby, between Junction 2 for the A6 at Chellaston and Junction 3 for the A514 near Aston-on-Trent (recommended to be undertaken in RIS4).
- Building a new link road between the A50 (near junction 1) and A42 (near junction 14, Breedon-on-the-Hill). This is recommended as a long-term option to be considered for RIS5 or beyond.
Flooding hardship fund to support residents and businesses
A number of homes and businesses in Derbyshire were affected following heavy rain which fell over the weekend and into Monday, closing some roads and causing local disruption.
Derbyshire County Council has reinstated our Derbyshire Floods Hardship Funds for residents and businesses, which were first established following floods in 2019.
Residents directly affected by flooding, where water has entered their homes, can access financial help of up to £104 via a fast-track application process.
Businesses of 50 employees or less whose premises were flooded will be eligible to apply for a one-off payment of £500.
The initial pot of £20,000 could be extended if needed. Areas affected and eligible will be listed online.
Derbyshire County Council Leader Councillor Barry Lewis said: “Residents and businesses are already facing a number of financial challenges and if they are affected by the recent flooding we know this will be devastating and could have a huge impact on them.
“We realise the importance of acting immediately to help where we can, which is why we are offering this support which is available now.”
Professional services firm announces plans to acquire financial planning business
Leeds-based multi-disciplinary professional services firm, Progeny, has announced plans to acquire Chartered financial planning firm, RU Group.
The deal, subject to FCA approval, will increase Progeny’s total assets under management to over £3bn and allow the business to expand its presence in South Yorkshire and the East Midlands.
RU Group are wealth management and retirement experts with a team of 48 employees based across three offices, in Nottingham, Derby and Sheffield.
Becoming part of the Progeny business will give RU Group’s clients access to an additional range of legal, financial and professional services via Progeny’s multi-disciplinary offering.
The RU Group were established in their current form in 2003 but the origins of the business date back over 100 years.
Andy Dyke, chairman, RU Group, said: “This is a momentous milestone in the RU Group’s history, securing the future for our clients, and we’re delighted to become part of the Progeny business.
“We have built a well-established firm that is also well positioned for continued future growth, with Chartered status, a strong client-first ethos and a belief in the importance of embracing technology in the future of financial advice.
“What’s more, we are committed to creating long-term prosperity for our clients, placing them at the centre of our decision-making. For all these reasons, Progeny and RU Group are an obvious fit.”
Neil Moles, CEO of Progeny, said: “We’re very happy to welcome a firm with the prestige and heritage of RU Group into the Progeny fold.
“As a locally owned and managed company, RU Group are embedded in the communities in which they operate. They have demonstrated consistent entrepreneurial organic growth in AUM and profitability, supported by a highly qualified and well-developed team with excellent potential for the future.
“We look forward to welcoming RU Group’s clients to Progeny and offering them the chance to benefit from a vast range of additional professional services to meet all their legal and financial requirements.
“Our acquisition strategy is driven by our commitment to providing a high-quality multi-disciplinary service to clients, and our acquisition of RU Group is the next step in this strategy. We have a clear philosophy for growth, and clients – existing and future – will always be at the heart of this.
“This is a highly significant acquisition, in size and status, and we’re excited about what we can achieve together going forward.”
As a result of the deal, Ian Browne, head of advice at RU Group, will become chief of advisory services at Progeny.
On Ian’s appointment, Neil added: “Ian comes with a breadth of experience having managed large teams and worked in the industry for many years, both at Standard Life and most recently in his role at RU Group. The chief of advisory services position will be fundamental to the next stage of our growth and we are looking forward to welcoming the experience and energy that Ian will bring to the business.”
A team from Progeny’s corporate legal department acted as legal adviser to Progeny on the transaction.
RU Group were supported by their legal adviser, Ed Foulkes of Clarke Wilmott, together with Roderic Rennison and John Chapman of Catalyst Partners Ltd.
Corby redevelopment projects showcased to Government
North Northamptonshire Council projects that are spearheading further redevelopment in Corby town centre were showcased during a Government visit last week.
Minister for Levelling Up, Neil O’Brien, was taken on a tour of the sites which will benefit from a £19.9million cash injection as part of the Town Fund.
The Minister visited Chisholm House in Queen’s Square, which will be repurposed and developed into a sixth form college before touring Corby train station, which is part of a scheme to form a better connection with the town centre through active travel.
Cllr Jason Smithers, Leader of North Northamptonshire Council, said: “I’m delighted that Minister O’Brien visited North Northants to see first-hand the projects that are being developed in Corby town centre.
“The Town Fund has provided a huge cash boost to the town and these schemes will act as a catalyst for economic growth. Creating the conditions to bring prosperity is one of the key ambitions of the council and I look forward to seeing the projects take shape over the coming months.”
Minister for Levelling Up, Neil O’Brien, said: “I am truly excited by the regeneration of Chisholm House into a modern, new, carbon-neutral Sixth Form. With backing from Corby’s £19.9 million Town Deal, the Sixth Form will give hundreds of young people across Northamptonshire the opportunity to achieve their true potential.
“It was also fantastic to tour Corby station and discuss government-funded plans to improve both pedestrian and cycle links from the town centre to the station. Encouraging active travel, reducing emissions and improving safety is how we create healthy, sustainable and thriving communities across the nation.”
The Town Fund projects are:
Sixth Form College at Chisholm House – Chisholm House will be re-purposed and renovated to be a carbon neutral building using the latest innovative technologies to bring this ground-breaking and modern building to the heart of the town centre. It will attract 16 to 18-year-old, young adults from the surrounding area.
Corby Station to town centre – This project will look to improve the public realm on Oakley Road for cyclists and pedestrian usage. This main road will look to update these important links in Corby from the train station, Tresham College and the town centre, with a focus on promoting active travel along this key route.
Smart and Connected Corby – This project seeks to establish Corby as a smart and green town centre through harnessing connected and clean technologies. Using the latest connected and smart technology will enable the council to monitor flows of pedestrians, cyclists, motorists, shoppers, and visitors to understand the present and predict the future.
Multi-Purpose building – This project aims to provide permanent new accommodation for a modern Arts and Community Centre in a multi-use facility, located in a central location in Corby’s town centre.
Sharpest manufacturing price growth since 1976
UK manufacturing output growth picked up in the three months to February, but the balance of manufacturers expecting price rises in the next three months was at its highest since December 1976.
That’s according to the latest monthly CBI Industrial Trends Survey, based on responses from 224 manufacturing firms.
- The balance of manufacturers who expect price rises in the next three months rose to the highest since December 1976 (+77% in February 2022, +78% in December 1976).
- Growth in output volumes accelerated in the three months to February compared with the same period one month earlier (+26% from +14%). Output increased in 13 out of 17 sectors, with growth driven by the chemicals and food, drink and tobacco sub-sectors.
- Total order books were strong in February (+20%, from +24% in January), while export order books improved slightly and remained above their long run average (-7%, from -10% in January; average of -19%).
- Stocks of finished goods were seen as inadequate again in February, but with some improvement shown for the second consecutive month (-14% from -17%).
