Bidco ups offer for Clinigen
Terms have been agreed for an increased and final recommended all-cash offer for Clinigen by Triley Bidco Limited (Bidco).
Bidco – in its seventh proposal – will acquire the entire issued and to be issued ordinary share capital of the Burton pharma firm at a price of 925 pence (up from 883 pence) in cash per Clinigen share.
Bidco says that the increased final offer will not be increased further, except that Bidco reserves the right to revise the financial terms of the increased final offer if there is an announcement of an offer or a possible offer for Clinigen by a third party offeror or a potential offeror.
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.
Derbyshire Institute of Sport gives a warm welcome to new board member, David Nelson
PKF Smith Cooper’s David Nelson – who has a huge love of sport – has been appointed to the Derbyshire Institute of Sport’s board.
Keen cyclist and golfer David Nelson is Senior Partner at leading Midlands-based accountancy and advisory firm PKF Smith Cooper and has joined the board as the institute enters a new stage of sustained growth.
David has a long association with amateur sports having spent seven years as finance director at UCI Professional Cycling Team Raleigh GAC – later known as Vitus Pro Cycling – as well as running local Under 13s football team Allestree Romans FC.
David said: “Both myself and PKF Smith Cooper have been supporters of DIS for some time and have watched with great interest the success they have had over recent years.
As a gold sponsor, I am proud that we have helped fund vital training for young athletes in the region. Having been involved in amateur sport for many years, I know the dedication and commitment it takes both by the athletes themselves and the support teams around them.
With a passion for sport, I look forward to working alongside Chloe and the board at DIS to see where we can take the Institute over the coming years. With the Commonwealth Games coming up just down the road in Birmingham, there is no better time for businesses to come together to support our local athletes.”
DIS board chair Michael Kirkland said: “I am absolutely delighted David Nelson from PKF Smith Cooper is joining our board.
David brings a wealth of financial and operational experience with him which will be invaluable as we push on to our next period of growth.
Both myself and my fellow board members wish David a very warm welcome to the DIS and we look forward to working with him through 2022 and beyond.”
DIS managing director and founder Chloe Maudsley said: “A warm welcome to David Nelson, who I know will make a huge difference to us as we plan our commitments for the next few years.
I’m proud of the resilience the board members and staff have shown through the pandemic. We are now working on our plans to raise more money in 2022 and help even more athletes in Derbyshire.”
The links between PKF Smith Cooper and DIS are strong, with the DIS’s Dr Phil Clarke having held sports psychology sessions for PKF Smith Cooper staff to encourage high achievers and improve wellbeing.
Also on PKF Smith Cooper’s payroll is elite athlete and trainee accountant Alex Knibbs, aged 22 from Duffield, who became 400m British champion at the 2020 British Athletic Championship.
Alex said: “DIS has helped me greatly since I was 15 and I’m now back in Derby after studying at Loughborough University and on the DIS ambassador program, focusing on my strength and conditioning.
I have enjoyed my first few months at PKF Smith Cooper, and the team’s hard work and driven ethos reflects my attitudes on the track. I can’t thank the firm enough for supporting me in achieving my goals in athletics and starting my accounting career off the track.
DIS have been a huge part in my development as an athlete so far and I wouldn’t be the athlete I am today without them. Hopefully, with their continued support, I can work to achieve my Olympic dreams and beyond. The opportunity they give local young talented athletes is perfect for the development to reach elite level within their sports.”
* DIS had ten athletes represent Team GB at the Tokyo Olympic Games in 2021 and is aiming for a bumper turnout at next year’s Commonwealth Games in Birmingham.
Its latest initiative is the Performance Prep squads at three Derbyshire schools for youngsters aged nine to 11.
Derby firm completes fit-out projects for COVID-19 test maker
Design, refurbishment, and fit-out specialists, DSP (Interiors) Ltd Derby, have supported SureScreen Diagnostics’ expansion with the completion of fit-out projects at a number of units at their COVID-19 test production facilities across Derby and Nottingham.
The company, which is based on the Parker Industrial Estate on Mansfield Road, Derby, was recommissioned by SureScreen Diagnostics after fitting-out a separate production facility for the ‘Nutrivitality’ division of the business, which manufactures liquid nutritional supplements, at Eagle Park, Derby in late 2019.
SureScreen has been producing antibody and more recently antigen tests for COVID-19, which have been exported to 53 countries across the world. Ever-increasing demand and development of product rapidly increased the need to expand facilities over the past 12 plus months.
During this period, DSP (Interiors) Ltd Derby have been working in partnership with SureScreen to transform a number of newly acquired units into additional production, storage and processing spaces as well as refurbishment work at their Prime Parkway offices.
At the height of the second lockdown in November and December 2020, work was carried out to create racking, packing, electrical and mechanical works at two units at Eagle Park. This was followed by work to install racking at further units in Derby which was completed in between March and July 2021.
The company recently finished a turnkey design and fit-out of a third unit at Eagle Park, which started in May 2021. The speculative empty unit was transformed with the construction of a large mezzanine floor to create ground/first floor production facilities with supporting amenities including toilets and breakout space.
The team at DSP (Interiors) Ltd Derby carried out all the works including mezzanine floor, fire rating, partitions, ceilings, flooring, kitchen, toilets, furniture, mechanical and electrical.
DSP (Interiors) Ltd Derby have also been appointed as principal designer and contractor to fulfil a staged completion of extensive turnkey works at SureScreen’s newest production facility at Sherwood Business Park in Nottingham, the largest of its kind in Europe.
With work on Phases 1 and 2 now complete, DSP (Interiors) Ltd Derby are partnering with SureScreen on a number of other phases to enable them to deliver the tens of millions of lateral flow tests required by the UK Government.
Speaking about the partnership with SureScreen Diagnostics and the projects at Eagle Park, Andy Priestley, director of DSP (Interiors) Ltd Derby, said: “It’s been a pleasure to work alongside SureScreen Diagnostics on these projects. We have designed and fitted spaces that will help the company to manufacture and produce their rapid Covid-19 tests efficiently and effectively.
“It was important to complete the work as quickly as possible so SureScreen could continue their amazing work to produce Covid-19 antigen tests for the UK and the rest of the world. We look forward to continued collaboration with them on the next phase of their state-of-the-art manufacturing site at Sherwood Park.”
Alastair Campbell, director of SureScreen Diagnostics, added: “We first worked with Andy and his team on our production unit at Eagle Park, and they did a superb job for us. They have extensive experience in previous builds and fit-outs and are always extremely helpful in researching and finding solutions to meet our needs.
“DSP Interiors Derby have been key partners in our exciting expansion project. The team has done a fantastic job in such a short space of time to create the production, packing and storage spaces at our new sites.”
Customs declarations on imports from the EU – have you got to grips with changes from 1 January 2022? By James Pinchbeck, Streets Chartered Accountants
James Pinchbeck, partner at Streets Chartered Accountants and director of SBC Global Alliance, the firm’s international association of professional advisory firms, considers customs declarations on imports from the EU and the changes to them from January 2022.
HMRC has warned businesses that customs declarations on imports from the EU will change once again at the start of 2022.
Customs declarations
From 1 January 2022, businesses will no longer be able to delay making import customs declarations under the Staged Customs Control rules that have applied during 2021. Most businesses will have to make declarations and pay relevant tariffs at the point of import.
The tax authority says businesses should consider how they will make their declarations. They can either appoint an intermediary, such as a customs agent or submit the declarations themselves. Further advice is available via the Gov.uk website.
Some businesses already have a ‘Simplified Declarations’ authorisation from HMRC that allows their goods to be released directly to a specified customs procedure without having to provide a full customs declaration at the point of release.
Businesses that want to use Simplified Declarations will need authorisation to do so. It can take up to 60 calendar days to complete the checks needed for this and therefore a new application may not be authorised until late February or early March at the earliest.
From 1 January 2022, businesses must use the correct country code for the country of origin and the country of dispatch when they complete their customs declaration. HMRC says that for EU countries, the individual country code of the relevant member state should be used. The EU country code must not be used and will be removed from HMRC’s systems.
Border Controls
Ports and other boarder locations will be required to control goods moving between Great Britain and the EU. This means that unless goods have a valid declaration and have received customs clearance, they will not be able to be released into circulation, and in most cases will not be able to leave the port.
From 1 January 2022, goods may be directed to an Inland Border Facility for documentary or physical checks if these checks cannot be done at the border. It is important that those involved in transporting your goods are ready and understand how you intend to operate from January 2022.
From the start of the year, you must also submit an ‘arrive’ export declaration if your goods are moving through one of the border locations that uses the arrived export process. If you do not follow the correct process from 1 January 2022, the new system will not permit your goods to leave the country and they will be turned away as they will not hold export clearance.
If you use a service such as a courier or a freight forwarder to move your goods, you will need to check their terms and conditions about who will make the declarations and what other information they will need from you to do this.
Postponed VAT Accounting
If you are a VAT registered importer, you can continue to use Postponed VAT Accounting (PVA) on all customs declarations that require you to account for Import VAT, including supplementary declarations, except when HMRC have told you otherwise.
With further changes to be introduced from July 2022, including requirements for full safety and security declarations for all imports and for Export Health Certificates, we strongly recommended that you seek advice from professional advisers and government agencies as the new changes are introduced.
2022 Business Predictions: Nicki Robson, Managing Director, Breedon Consulting
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Nicki Robson, Managing Director, Breedon Consulting.
2021 has been a year of transformation for many businesses, but this doesn’t look set to change any time soon.
As the pandemic continues to bite and hybrid working becomes the new normal, there is a rising shift in power between employers and employees. This is amidst an increasingly difficult recruitment market, which has seen previously loyal employees have their heads turned by speculative approaches. Employers are now willing to offer significant rewards and flexible working options to attract new talent.
To counter this, 2022 is likely to be a year to focus on employee retention, and employers would be well placed to consider their retention strategies and how they differentiate their employer brand. Maintaining team morale, motivation and engagement will be key to reducing the likelihood of resignations, coupled with a focus on employee health and wellbeing.
Flexibility of approach will also be an increasingly important consideration in 2022. Flexible working options are becoming more of an expectation from employees who have recognised the improved work life balance available to them, by changes that were adopted out of necessity.
Employers who insist on returning to pre-pandemic fixed ways of working, are expected to struggle further with both employee retention and attracting new joiners, as the trend for flexible working is unlikely to disappear any time soon.
Investor injects more than £100m into the Midlands
BGF – the growth capital investor – has invested more than £100 million in the Midlands in 2021, backing some of the most entrepreneurial businesses in the region. Entering the year with a strong pipeline, BGF is aiming to build on this level of activity in 2022.
In the last 12 months, BGF’s Midlands team completed nine new investments, while continuing to provide growth capital and follow-on funding for its existing portfolio.
Investments in 2021 included £10.25 million in award-winning mobile data specialist and eSIM Mobile Virtual Network Operator (MVNO), Jola Cloud Solutions Ltd; £8.5 million in Antser, a leading innovator in social care; and £13 million in Bambino Mio a market-leading reusable nappy firm.
In 2021, BGF successfully exited 10 businesses in the Midlands, including Chase Distillery, which was acquired by global beverage and alcohol company Diageo, and Nottingham-based life sciences incubation business, BioCity.
BGF also provided follow-on funding to its investees, including Aceleron, the UK developer of sustainable and reusable battery solutions. The funding is enabling the innovative company to scale the production of its unique circular economy battery technology and expand its reach across global markets including the UK, Europe, Africa and Americas.
Andy Gregory, chief investment officer at BGF, said: “The Midlands is rich with innovative and fast-growing businesses eager to expand their footprint and realise the significant potential that exists in their sectors.
“The last 12 months have posed considerable challenges to regional, entrepreneurial companies but, despite this, they have ploughed on with ambitious growth strategies and we’re delighted to have played a part in making those scale-up plans a reality.
“This year’s success for BGF reaffirms our flexible model and point of difference in the market as business owners in our portfolio have been able to take advantage of attractive investment opportunities for themselves and BGF.”
As a whole, BGF has been extremely active in the Midlands in 2021, with three new investors joining the team last year. David Bellis, Nick Holder and Elena Kovalikhina will support new and existing portfolio companies such as Johnsons Aggregates & Recycling and leading provider of occupational health and corporate wellbeing services, Medigold Health.
Andy added: “There have been seismic changes in almost all sectors across the region, but this has also created a wealth of opportunity. The Midlands has a strong presence across a wide range of industries so is perfectly positioned in 2022 to adapt to the ever-changing landscape.”
Off-market sale completed on former petrol station and warehouse
Starfish Mansfield Ltd has purchased 192 Nottingham Road, Mansfield and 2 Stanley Road, Mansfield as an investment and for potential redevelopment.
The properties were previously used by Europcar for a car hire, car storage, car repairs, car washing and valeting site.
Michael Artemis of Starfish Mansfield Ltd said: “Pleased to have acquired this gem of a site. Another smooth and dynamic transaction all managed and facilitated by Chris Proctor of FHP.”
Chris Proctor of FHP Property Consultants, who sold the site on behalf of private clients, said: “It has been a pleasure working for the vendors of this site over the past two years, which has involved agreeing a surrender of Europcar’s existing lease on the property and then most recently an off-market sale of the property to Starfish Group.
“Both parties acted extremely pragmatic to achieve a very swift sale on the property and thanks must go to both Vik Moothia of Landsmiths and Sean Isherwood of Hawkins Hatton Corporate Lawyers.”
Sherwood mixed-use development gets underway
Hockley Developments, the Nottingham-based residential and supported living property developer, is fully underway at its mixed development in Sherwood.
The scheme will bring in a flagship Sainsburys, and a new Sherwood library (50% larger than the previous library) as well as a mixture of housing from one to four beds.
Head of construction at Hockley Developments, Paul Kennedy, said: “We are delighted to have seen the progress in Q4 last year, and the foundations in.
“Understandably, there is a lot of excitement about this development locally, which will transform this part of Sherwood, and we look forward to playing our part developing Sherwood, as well as providing some much needed housing.”
Business development manager at Hockley Developments, Rebeka Dobuma, said: “Since the hoarding went up at the end of last week, we have been getting 5-6 calls and emails every day, with people keen to find out more about the family houses that we are developing.
“We already have 40 people pre-registered for further information – these shall be released for sale later this year, and we are delighted with the response – this will be a great place to live, so close to Nottingham city centre, and with excellent schools nearby.”
Hockley Developments are currently developing at several sites in Nottingham, and expect to have new sites in Leicestershire and Northamptonshire in 2022.
Business development manager at Hockley Developments, Rebeka Dobuma, said: “Since the hoarding went up at the end of last week, we have been getting 5-6 calls and emails every day, with people keen to find out more about the family houses that we are developing.
“We already have 40 people pre-registered for further information – these shall be released for sale later this year, and we are delighted with the response – this will be a great place to live, so close to Nottingham city centre, and with excellent schools nearby.”
Hockley Developments are currently developing at several sites in Nottingham, and expect to have new sites in Leicestershire and Northamptonshire in 2022.
BrightBridge partners with Australian field service management leader Next Technik
BrightBridge, a Leicestershire-based provider of intelligent business software in the UK, is celebrating its latest solution focused partnership with Next Technik, an Australian-based creator of an innovative field service management application – NextService.
The NextService product is a ‘Built for NetSuite Native’ application, meaning it is built in, on and for Oracle NetSuite. BrightBridge can now deliver design, implementation, and support services on NetSuite solutions that integrate digitally advanced field service management functions with the cloud Enterprise Resource Planning (ERP) solution. BrightBridge is a 4-star Oracle NetSuite Partner.
Andrew Cox, technical director at BrightBridge, had been researching field service solution experts with which to partner throughout 2021, but many applications didn’t offer NextService’s far-reaching functionality, or they required additional integration layers within the architecture.
He said: “I’m very confident in the NextService product as it was developed from real-world concerns experienced by a business that wanted to exceed customer demands. Our team is excited to start eliminating the same field mobility and business visibility challenges for companies in 2022 – it’s a game changer for UK customer engagement in the field service arena.
“Having one version of the truth across a business – to learn, grow and really focus on customer outcomes – means all touchpoints need to be integrated, and this includes all two-way field service data. We can now very simply unite the areas of schedule and dispatch, real-time updates from the field and inventory or asset management into the single business NetSuite ecosystem along with all financials and back-office functions.”
Key features of NextService include scheduling and dispatch, asset management, field mobile application, preventative maintenance, installations and job requests, warranties and repairs, spare parts and inventory in the field, compliance and safety forms, service history, workflows and visual dashboards and NetSuite operational intelligence.
Tania Large, Next Technik’s global partner manager, said: “We are excited to be working with 4-star Oracle NetSuite Partner, BrightBridge, in the UK.
“With the company’s experience across a wide range of sectors where field service organisations can be found, the team shares our vision of helping businesses to grow and deliver exceptional service to their customers.
“We’re already in discussions about the first integrations of NextService into specific BrightBridge projects and we’re looking forward to building our relationship through 2022 and beyond.”
For more information, visit www.brightbridgesolutions.com, or follow BrightBridge on Twitter – @bbsolutionsltd – or LinkedIn.
Learn about Next Technik and it’s NextService application by visiting the company’s website or its LinkedIn page.
Energy firm transitions to Employee Ownership
Cost Advice Energy Specialists (Cost Advice) has transitioned to an Employee Ownership model.
Established in 1995, and previously owned by brothers Christopher and Stephen Ball, the Chesterfield-based company strives to set the benchmark for providing quality advice for commercial energy customers on the best ways for them to purchase and manage their electricity and gas.
Over its history, the business has expanded into a team of professionals who assist businesses across Britain, ranging from small independent retailers to large multi-site organisations.
On completing the transition, Stephen Ball said: “Chris and I are extremely proud of the company and how it has grown and evolved over the last 26 years, and it is important to us that we protect its legacy and ensure it remains independent.
“Employee ownership provided a way for us to do this; it’s progressive and forward-thinking and provides a way to give back to our loyal and talented workforce who have helped to make Cost Advice what it is today. The company is going from strength-to-strength and now is the perfect time to start our exciting new chapter.”
Shorts Chartered Accountants teamed up with Knights plc to act as corporate finance, tax advisors and legal representatives.
Speaking about the transition to employee ownership, Shorts Corporate Finance Partner, Andy Ryder said: “We would like to extend our congratulations to Cost Advice and its new employee owners.
“Having discussed various succession planning options with Stephen and Chris, it was clear that the EOT route would best meet their overall objectives.
“Businesses that choose the EOT route build trust and shared responsibility. and we are confident that this will result in a very positive future for the business. We look forward to seeing Cost Advice’s continuing success under their new ownership model.”
