BGF appoints investor to East Midlands team
BGF, the growth capital investor, has strengthened its East Midlands team, with the appointment of Adam Huckerby as investor.
Adam joins BGF from Foresight Group, where he spent over three years in the private equity team, investing in East Midlands-based SMEs across a variety of sectors. Prior to this, Adam spent six years in PwC’s restructuring team in the Midlands.
At BGF, Adam is based in the Nottingham office and will be responsible for all aspects of the investment process, from originating and executing new investments to supporting management teams of portfolio companies.
Seb Saywood, investor in the East Midlands, said: “We’re delighted to welcome someone of Adam’s calibre to BGF. Our investor team plays a vital role in identifying exciting and entrepreneurial businesses, ripe for growth.
“Adam is an excellent addition to our team – someone who understands the nuances of the East Midlands market and our desire to support forward-thinking companies that are eager to scale up with the support of a minority investor firmly focused on taking a patient and long-term outlook to growth.”
Recent deals led by the Midlands team include the £11 million investment in wearable technology brand, MyZone, and the multi-million pound investment into Alliance Transport Technologies (ATT).
Adam said: “BGF’s approach to providing minority, flexible investments can be instrumental in helping management teams fulfil their exciting growth plans. I am delighted to be supporting the diverse, ambitious businesses we are privileged to have in our local region.”
Adam’s appointment follows the arrival of David Bellis as investor. He joined at the end of 2021, bringing more than eight years’ corporate and M&A advisory experience to the role, having previously worked at Alantra Corporate Finance and PwC.
Local Nottingham business renovates historic Humber works factory
Windows and doors manufacturer, KLG Rutland, has announced that it has almost completed the renovation work of the historic Humber works in Beeston.
The purchase and development of the site has created 4,700 sq. ft. of additional storage and warehousing space for the Nottinghamshire business. The remainder of the building is being refurbished for general industrial usage including glass processing for its sister company KLG Glass.
The completion of the project has brought new life to a building at the heart of Nottinghamshire’s industrial heritage. Thomas Humber founded his bicycle manufacturing business in 1878 and built the Humber works to scale his production rapidly. In 1887, Humber sold the business to a group of investors under the name Humber & Co Limited and the company eventually became a leading British manufacturer of motorcycles and first series-production cars.
The redevelopment of the Humber works comes at a time of growth for the business, with KLG Rutland recently investing £200,000 in new state-of-the-art plant and machinery to improve production capacity and quality. The business growth has also created 5 new jobs within the company in the past 12 months.
“For a manufacturing and installation business like ours to renovate a piece of local industrial history is just amazing,” said Terry Hill, managing director of KLG Rutland. “Being a manufacturer ourselves we recognised these sites are often demolished and used for housing, something that we didn’t want to use the historic building for.’
Record revenues and profits for SourceBio
SourceBio International, the provider of laboratory services and products, has witnessed a record year, according to final results for the year ended 31 December 2021.
Revenue increased by 82% to £92.4 million at the Nottingham-based firm, up from £50.7 million in 2020. Meanwhile gross profit grew by 77% to £36.2 million, up from £20.5 million in 2020.
The news follows SourceBio’s acquisition of LDPath Limited, a pioneer in digital scanning technology for histopathology, in March 2022.
Jay LeCoque, executive chairman, said: “I am pleased to report to shareholders record revenues and profits in an extremely busy year for SourceBio. The results have been dominated by the provision of COVID-19 PCR testing services which has been pivotal in allowing us to re-invest in our core Healthcare Diagnostics business unit, through acquisition.
“It is particularly encouraging to see our core business units meeting or beating pre-COVID-19 levels of trading. In particular, our Cellular Pathology business is seeing material month-on-month growth in volumes and revenues, fuelled by the return of elective surgeries and the Government initiatives to reduce the enormous backlog of patient waiting lists.
“This was the rationale for our recent acquisition of LDPath, which provides us with the wet laboratory and Digital capacity to accelerate growth in market share and profitability. The integration of LDPath will take the best of the best from each of SourceBio and LDPath to create an unparalleled combined new business opportunity. The Board is appreciative of the dedication and efforts from all its staff in a very challenging year and is also grateful for the support from its shareholders.”
Newsome invests in new, eco-friendly chiller rental fleet to help manufacturers get ‘summer-ready’
Temperature and humidity control experts, Newsome, are delighted to announce they have just taken delivery of a brand-new range of energy efficient chillers and air handling equipment, for both Industrial & Environmental Cooling applications.
Their new rental range is ready for hire – featuring the latest energy efficient and environmentally friendly manufacturing technology, with many of the products featuring low GWP (Global Warming Potential) Refrigerants.
Richard Metcalfe, director, Newsome, says: “With the warmer months fast approaching, our new rental equipment will enable customers to rent a brand-new chiller to keep their manufacturing processes going, whilst they carry out necessary maintenance and checks on existing equipment. Or they can be used as an emergency back-up in the event of a mini heatwave, when average temperatures exceed 30 degrees – which can result in equipment failure and downtimes.
“We’ve invested in energy efficient and environmentally friendly rental equipment, to provide our customers with the most cost-effective systems available,” he concluded.
Renting temperature control equipment, as alternative to buying, can provide multiple benefits:
- ‘Try before you buy’ – if you are unsure as to what equipment your business may need, you can use a rental system to gauge what would be the most suitable product for you.
- The option to keep your manufacturing process going, whilst Newsome carries out any necessary maintenance on your existing equipment.
- Renting rather than buying allows the flexibility to upscale/downscale your equipment in response to seasonal fluctuations in temperature.
- With cash flow and capital expenditure being stretched, hiring energy efficient temperature control equipment avoids the need for a substantial, initial outlay and enables you to take advantage of fixed monthly costs.
- Tax Relief – Rental expenditure is 100% allowable against corporation tax and will reduce what you pay. What’s more, rental equipment is not considered as an asset, so does not need to be included on the balance sheet.
Property consultancy reveals raft of East Midlands promotions
A property consultancy has made 27 promotions in the East Midlands as part of the firm’s ongoing growth.
Fisher German made the raft of promotions, including one partner promotion and three progressions within the partnership, across its offices in Ashby and Newark.
Sam Parton, who is part of the firm’s Infrastructure Services Division and is based in Ashby, has been invited to join the partnership.
He joined Fisher German as a graduate in August 2010 and initially assisted with the management of various rural estates before moving across to work in utilities and infrastructure in 2012.
He has since worked his way up through the business, and in 2017 took over the role of manager of the Exolum Pipeline System contract, leading a team which completes the land agency and pipeline protection administration for approximately 2,000 km of cross-country oil pipelines.
As part of his role as partner, Sam will also be leading a team involved in the delivery of a Nationally Significant Infrastructure Project (NSIP) in the East of England.
Fisher German has made a total of 54 promotions across its 25 offices, including seven progressions within the partnership, as part of its career progression framework which gives employees a clear pathway to advance within the business.
Sam said: “I’m extremely proud to have been invited to join the partnership. I joined Fisher German as a graduate and have always aspired to make it into the partnership, which is something that the firm has strongly supported.
“There is a clear pathway for progression in place for those who want to advance in their careers with line managers being extremely supportive, encouraging and willing to have open and honest conversations with colleagues about what they want to achieve.
“I have worked with some fantastic clients on some challenging projects over the years and I look forward to the challenges ahead, including a large-scale project in the East of England.
“It’s an extremely interesting time for the infrastructure sector as we move towards net zero, and I look forward to continuing to support the growth of this area of the business.”
Fisher German senior partner Duncan Bedhall said: “I would like to congratulate all of those within the firm who have received promotions.
“The high number that have been awarded is recognition of our continued growth and the success of our career progression framework, which gives all colleagues an opportunity to advance in the firm if they aspire to do so.
“I am confident that this success will continue moving forward as we are awarded an increasing number of contracts by both new and existing clients and we are looking ahead to some exciting new projects on the horizon.”
Not long remains until the Property & Business Investment Lincolnshire Expo – register now!
With just a few weeks to go until the Property & Business Investment Lincolnshire Expo, register now for the highly anticipated event.
The free to attend expo, for which Business Link is a proud partner, will take place on Wednesday 27 April 2022 at The Bentley Hotel, Lincoln, providing everything you require for a great day of networking and business generation.
A well targeted event aimed at the Construction, Property, Business, Investment, Finance, Professional Services and related B2B markets, exhibitors include Aspbury Planning Ltd, Belvoir, Business Lincolnshire, BSP Consulting, Delta Simons, the Federation of Small Businesses, J Tomlinson, NatWest, Willmott Dixon, and YMD Boon, to name a few.
To see the full list of who is exhibiting click here.
Opening at 9am, the expo will also host a seminar, and as the exhibition closes, it will roll directly into an informal, open buffet style network lunch – tickets for the lunch are just £25 plus vat and can be ordered and paid for directly online. Spaces for the lunch are limited, so order as soon as possible to avoid disappointment.
Tina King, of Business Shows Group, said: “It’s been a long time in the making thanks to the pandemic, but we are finally nearly there, The Property & Business Investment Lincolnshire Expo is gearing up to be one of the best to date!”
To attend the event, register for free here.
To generate opportunities by exhibiting at the event, click here.
Purchase tickets to the networking lunch here.
Meet more potential clients in one amazing cost effective day, than it would take months out on the road.
Duo of new directors at Nicholsons
Nicholsons Chartered Accountants have promoted Steve Robinson and Kate Brown to director.
Steve joined Nicholsons in 2013 as a senior accountant, before becoming an associate director in 2021. Although Steve works in general practice, he has excelled with his expertise in taxation, pensions and audit.
Steve had the following to say: “Since I joined, it’s been an aim of mine to become a director so I’m delighted to not only achieve this, but I’m really grateful for the support and trust that Nicholsons have given me over the years.”
Kate joined Nicholsons in 2021 as an associate director, after working at a previous firm as a partner. As a Chartered Accountant and Chartered Tax Adviser, she specialises in advising clients on how to maximise profitability and growth, and takes a real hands-on approach with all her clients.
Kate said: “Having seen the firm’s growth, success and strategic delivery over the years, I’m looking forward to this new chapter in my career, working alongside all the directors to ensure that our clients receive the best service possible, but also that as a firm we’re on the cutting edge of new technologies and processes.”
Richard Hallsworth, director at Nicholsons, said: “We’re delighted with the appointments of Steve and Kate to director. They both have their own areas of expertise, and place client care at the centre of their work. Their appointment marks a really exciting time for Nicholsons as we look to the future and both Steve and Kate will help us drive ahead to achieve our goals.”
Eco-friendly residential development gets green light
Housebuilder William Davis Homes has been given the go-ahead to build 70 eco-friendly homes in the Nottinghamshire village of Sutton Bonington.
Rushcliffe Borough Council has approved a planning application for the development, which will have a strong focus on energy saving and the environment.
By exceeding the requirements of current building regulations, the site’s carbon dioxide emissions will be 75% lower and energy use will be cut by 42% kilowatt hours – equivalent to almost 80,000 average washing machine cycles.
David Dodge, development director for William Davis, said: “We’re delighted that planning permission has been granted for this scheme. We are particularly pleased to create a range of homes which have a rural setting, but are served by high-speed broadband and are exceptional in their energy efficiency.”
The plans for land off Park Lane, on the southern edge of the village, have been shaped by consultation with the parish council, borough council and local residents, alongside input from the previous landowner and an independent design review.
The site will have a range of dwellings, designed to suit the character of Sutton Bonington. There are 49 three, four and five-bedroom homes – plus a range of affordable one and two-bedroom apartments, two bedroom bungalows and two and three-bedroom houses.
Special features include:
- A tree-lined entrance avenue
- A higher proportion of public open space – with a central green and other areas for recreation and leisure, and areas set aside to support biodiversity
- A community orchard, where local residents will be able to pick apples, pears, walnuts and cherries
- A new village pond incorporating a pedestrian boardwalk
- Solar panels and electric car charging points for all properties
- A series of embedded energy-saving measures, giving homes the highest A efficiency rating (the national average is D)
- Full fibre to all properties, for ultrafast broadband connectivity
LLEP chair will not seek re-election at end of current term
The chair of the Leicester and Leicestershire Local Enterprise Partnership (LLEP) has told directors and officers that he will not seek re-election at the end of his current term.
Kevin Harris paid tribute to work completed by colleagues during his four years as chair as he informed them that he would stand down when his current term ends this month.
Mr Harris’ final LLEP Board meeting as chair is on April 12. He has chaired the LLEP since 2018, having spent the prior four years as deputy chair.
His time as chair coincided with delivery of a host of major strategic projects. These include the further development of regional enterprise zones, including Space Park Leicester and the ongoing Pavilion 4 at Sport Park on the LUSEP campus.
Mr Harris also led the LLEP’s role in the successful East Midlands Freeport bid, as well as its response to both the pandemic and the Government’s recent Levelling Up White Paper.
Mr Harris said he was proud that the decision at the time to move ahead with many of the initiatives originally incorporated into the Local Industrial Strategy, and now part of the recently developed LLEP Economic Growth Strategy, was paying dividends. Both pieces of work were produced despite increasing uncertainty in the external environment.
Mr Harris said: “Developing the Local Industrial Strategy was an important stage for the LLEP in enabling us to focus on our strengths and what makes us unique.
“It framed our thinking for the Economic Growth Strategy in terms of how and where we can build a post-Pandemic future which is innovative, inclusive, productive and sustainable.
“There’s undoubtedly lots of change still to come. We recognise that and remain bold in shaping our response to the future.
“But I’m proud that the LLEP is well set up to meet the challenges and the end of this current term therefore feels a natural point to hand the baton on to a new chair.”
Mr Harris will remain on the LLEP Board until the AGM, likely to take place in October, as he seeks to ensure a smooth transition.
Subject to Board agreement on April 12, LLEP vice-chair Andy Reed OBE will serve as interim chair until the AGM and the appointment of a permanent replacement.
Mr Reed said: “Kevin has chaired the LLEP with huge commitment and focus during a challenging period of continual change. He is right to draw attention to the ongoing importance of the Industrial Strategy he helped to drive forward.
“The national conversation continues around the role of LEPs, in relation to County Deals and the wider Levelling Up agenda, and I look forward to working with local partners on that through to October.
“In the meantime, it’s an appropriate time to reiterate our appreciation of Kevin and the LLEP team for all they have done already.”
The LLEP has invested more than £500m in Leicester and Leicestershire since incorporation in 2011, creating more than 6,900 jobs in the process.
In December, Mr Harris led the launch of the Economic Growth Strategy – a key strategic document which focuses on innovation, productivity, sustainability and inclusivity in the years through to 2030.
As well as his work with the LLEP, Mr Harris is a board member of the Midlands Engine and the East Midlands Chamber of Commerce. He is also Leicester managing partner and regional accounting head for RSM UK.
Land deal sealed for Leicestershire housing development
Specialist land development and property consultancy Mather Jamie has completed the sale of land which will be developed for housing in the village of Wymeswold in North Leicestershire.
The 5.2 acre greenfield site was bought to market by Mather Jamie acting as the sole agent working co-operatively with Rainier Developments who had promoted the site for housing and successfully obtained Outline Planning Permission for 65 dwellings.
The land has been sold on an unconditional basis to private housebuilder Dandara who expect to start work on site later in 2022 to create much needed new housing in this rural village location.
Mather Jamie was first instructed by the landowners in 2018 and during this period have advised their clients at all steps along the way with selection of a suitable land promoter, monitoring of the planning promotion exercise and thereafter managing the sale process in such a way as to maximise the value achieved, finally guiding the landowners through the legal aspects of the sale process in under six weeks.
Mather Jamie senior associate director, Gary Kirk, said: “The rise in house prices over recent months means there is high demand for this type of greenfield development site.
“This is creating unprecedented opportunities for the owners of land that has development potential to seek advice from experts like ourselves who have an in depth understanding of the planning requirements to build developments in rural areas.
“We are delighted to have been successful in matching our vendor with Dandara as we know they will be sensitive to the needs of local community and environment.”
Chris Higgins, land & development director at Dandara, said: “At Dandara we create beautiful homes in desirable locations.
“The development is in a tranquil location at the edge of Wymeswold village meaning buyers will have excellent facilities on hand, as well as being midway between Nottingham and Leicester, providing good employment opportunities.
“It’s also within easy reach of a brilliant village primary school and this, coupled with the new play area we are creating, means it will appeal to families. We’re sure the development will be a welcome addition to the community for local buyers.”
Joshua Sinnett from Rainier Developments added: “We are pleased to have completed the sale of the land at Wymeswold to Dandara which will help support their ambitious growth plans across the East Midlands. Having promoted the land on behalf of the landowner since 2019 the site will provide much needed family housing in this sought after Leicestershire village.”
