< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Northamptonshire video capture technology company sets sights on significant acquisition A Northamptonshire video capture technology company with a global focus on the leisure sector has its sights set on a significant acquisition. Visum Technologies has entered into exclusive non-binding Heads of Terms (HoT) to acquire the entire share capital of Socrates Imaging B.V., a company based in the Netherlands, and Socrates Imaging Ltd, a company based in the United Kingdom. The deal involves a combination of cash payment and new ordinary shares in Visum totalling €2 million. Established in 1990, Socrates Imaging has a legacy in photo and video capture souvenirs within the travel and leisure market. Marc Dixon, CEO of Visum, said: “We are thrilled to announce the heads of agreement for the acquisition of Socrates Imaging. The union of our organizations, leveraging Socrates Imaging’s extensive experience, over 150 client contracts and cutting-edge technology, promises to be mutually beneficial. “This exciting partnership will enable Visum to deliver innovative capture technology, further enhancing our commitment to providing exceptional solutions to our valued customers.” Partners& boosts Midlands presence Monaco Insurance Services and Church Side Insurance Services are the latest additions to Partners&’s growing team in the Midlands. Monaco Insurance Services, based in Edgbaston, was founded in 2010 by Amrik Chote and Kay Gill. The team will report to Neil O’Sullivan, Managing Partner for the Midlands region. Church Side Insurance Services, based in Mansfield, was founded in 2013 by Dean Parrish and Damian Booker. Specialising in providing SME and mid-corporate clients with insightful and practical advice to protect their businesses, they complement the Partners& Nottingham team. Commenting on the move, Dean said: “When we started to discuss future partnerships, synergy and longevity were top of our agenda. We wanted to make sure that we could look after our customers and staff, in the same way we always had, whilst also having the knowledge and resources of an excellent company alongside us. “During our first meeting with Partners& it became quickly apparent, that they were the only company we wanted to work with.” Home staging firm secures £250,000 funding package A home staging firm based in Melbourne, Derbyshire, has secured £250,000 backing from MEIF Maven Debt Finance. Lemon and Lime Interiors was launched in 2015 and specialises in transforming high-end properties, doing everything necessary to prepare them for sale. With growth ambitions across staffing, marketing and service offering, the team have since appointed two new senior staff members in finance and marketing with further sales and operational roles and serviced locations to come. With UK mortgage rates predicted to drop and house prices starting to soften, more buyers are expected to be active on the property market. However, prices still remain high relative to earnings, and therefore, in order to sell, staging is expected to be in higher demand during 2024. With expanding services and premium agent partnerships, Lemon & Lime has supported more than 850 occupied and vacant home stagings, achieving sales up to four times faster than comparable properties – often above the asking price. © stock.adobe.com/Jacob Lund © stock.adobe.com/StockPhotoProFINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Manufacturer of recyclable plastic products sold to management team Chiltern Capital has backed the corporate carve out and sale of Strata Products, a manufacturer and distributor of fully recyclable plastic products for home, office and garden markets, to its management team. Formerly owned by Berry Global Inc, a Fortune 500 manufacturer and distributor of plastic packaging products with its UK headquarters in Northamptonshire, Strata has an established reputation with over 300 major retailers in the UK and overseas. Having decided that Nottinghamshire-based Strata was no longer a core part of its current strategy, Berry engaged Grant Thornton to manage a disposal process for the business. The management buyout was led by Jay Ilsen, CEO, who said: “Strata has a proven history of manufacturing high quality innovative plastic products, and we look forward to continuing to work closely with our trusted customer base. “With Chiltern’s support, we will drive growth in the UK through new product development, as well as continuing our expansion in Europe and North America.” Footwear wholesaler accelerates growth following seven-figure funding package A Leicestershire-based footwear wholesaler is accelerating its growth in international and domestic markets following a seven- figure funding package. T&A Holdings, whose subsidiaries include T&A Footwear Limited and Heavenly Feet Limited, will use an international trade finance package from HSBC UK to support their global growth. T&A Footwear Limited specialises in designing, manufacturing, and supplying footwear to major retailers like Sainsbury’s, George at ASDA, and Clarks. Meanwhile, Heavenly Feet Limited focuses on designing and supplying its own brand, Heavenly Feet, to a network of over 300 independent retailers, along with partnerships with prominent retailers such as Next, JD Williams, and Shoe Zone. T&A Holdings works closely with manufacturers across the Far East, including China and Vietnam. Funding from HSBC UK will enable the company to source and purchase plant-based materials as the company invests in designing and manufacturing recyclable footwear. © stock.adobe.com/ FollowTheFlow AO World saves 73 jobs with A1 Comms acquisition AO World, the electricals retailer, has swooped for A1 Comms, saving 73 jobs, following the Derbyshire mobile phone and communication solution provider’s fall into administration. AO World has acquired certain assets of A1 Comms Limited, principally the intellectual property rights in and to the websites. The consideration for these assets was £2.2m paid in cash. A statement from AO says: “As AO seeks to expand its mobile proposition, the acquisition of the brands and platforms will provide AO with expertise and synergies that will accelerate this ambition. AO is also pleased to have saved 73 jobs through the transaction.” © stock.adobe.com/ InsideCreativeHouse L-R: Chirag Makwana, HSBC UK, and David Markham, T&A Holdings. © stock.adobe.com/lArdat pics © Dave WarrenDerbyshire narrowboat manufacturer unlocks growth An Ashbourne-based narrowboat builder is expanding into a new premises thanks to financial support from HSBC UK. Oakums Narrowboats will use a £881,000 funding package to purchase a new 14,000 sq ft property in Carsington Water. The additional space will increase the business’s capacity by 350 per cent, expanding its manufacturing capability and enabling the business to build seven boats at once, compared to two currently. The funding has also streamlined operations by facilitating the import of key boat parts from overseas. The newly acquired premises will support Oakums to fulfil its ever- growing order book and reduce its waiting list. With half of the business’s customers based overseas, the funding will also facilitate further international growth for the business. The funding package allows the business to continue its fast revenue growth, which has doubled year-on-year since the business was founded in 2019. Oakums has already reached £1.4 million of revenue in the past three months and is now anticipating annual revenue to increase to £6 million as a direct result of the expansion. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS New bottling plant launched in Derby, creating 90 jobs Lidl GB has launched a new bottling plant in Derby, creating around 90 jobs. The facility will bottle water and produce a variety of soft drinks, with a production capacity of 380 million bottles per year. The plant called MEG Derby Ltd is part of Schwarz Produktion, the umbrella brand of the Schwarz Group’s production companies. MEG is one of Germany’s leading mineral water and soft drink manufacturers, and this marks their first venture in Great Britain. By localising production, the move will simplify transport logistics and significantly reduce the distance the products travel to stores, thereby improving Lidl’s carbon footprint and reducing costs. Richard Bourns, chief commercial officer, Lidl GB, said: “This new venture with MEG Derby Ltd. marks a significant milestone in our commitment to improving efficiency, reducing our impact on the environment and providing our customers with great quality products at the lowest possible prices. “Bringing production of this key product closer to home makes sense and aligns with Lidl GB’s vision of contributing positively to the local community and economy.” East Midlands manufacturer awarded £1m fitout contract for build-to-rent scheme Mansfield-based Deanestor, the fitout specialists, has been awarded a contract worth over £1m by Gilbert-Ash for the first build-to-rent scheme in Oxford. This will involve the manufacture and installation of more than 6,500 items of fitted furniture – kitchens and wardrobe sets. The £63m second phase of West Way Square in Botley will deliver 150 rental homes for Grainger plc – the UK’s largest listed residential landlord. Deanestor previously provided kitchen and bedroom furniture for phase one of this mixed use development, which created 264 purpose-built student apartments and studios, as well as retail, hotel and commercial space and other amenities. Due for completion by the end of 2024, this latest scheme is designed by architects Mountford Pigott to be net zero carbon. Commenting on this new contract win, William Tonkinson, Managing Director of Deanestor, said: “This is our first contract with Gilbert-Ash but our second on the West Way site. It follows our successful delivery of multiple fitout contracts for private rental developments across the UK, including two other Grainger schemes.” Image courtesy of Lidl GBVirtual reality teaching facility opens at the University of Nottingham This year’s cohort of second year Product Design and Manufacture students at the University of Nottingham are the first in the country to benefit from a brand-new virtual reality (VR) classroom that revolutionises the teaching of VR software. Based in the university’s Engineering Science and Learning Centre (ESLC), the classroom enables remote viewing and communication between lecturers and students in a way that’s never been done before. Containing 40, high image quality VR headsets, 35 of which are tethered overhead to individual high-power PCs with the remaining five consisting of more traditional desk-based systems with display screens, students can choose the way they want to learn and experience VR. In addition to the in-situ technology, 90 wireless headsets are available to loan to students. These can be used in any location so that they can continue their studies outside the classroom. There is also staff and student access to several 3D scanners and 360 stereoscopic cameras. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS Manufacturing M&A activity drops in 2023 UK manufacturing M&A activity fell by more than 10% in 2023 amidst tough economic headwinds, but the sector is hopeful of a rebound in 2024 as manufacturers look to mergers and acquisitions to expedite their growth plans, according to accountancy and business advisory firm BDO. BDO’s Manufacturing Deals Review reveals that 706 UK manufacturing deals were completed in 2023. This was down 11% on the 793 deals reported in 2022 as businesses battled inflationary pressures, protected cashflow and prioritised stability. Despite the drop, analysis shows that the slower activity was mostly confined to the first half of the year. In the last six months, more than 400 deals were completed with the momentum expected to continue into the next 12 months. Businesses in the engineering services subsector were the most prolific deal doers for the fifth year running, representing almost a third (28%) of all completed transactions. This was followed by businesses in the food & drink sector (14%), which saw deal volumes increase from 79 in 2022 to 102 in 2023. Roger Buckley, UK Industrials M&A Partner at BDO, said: “For many manufacturers, 2023 was about protecting cashflow and prioritising stability. The second half of the year saw an encouraging resurgence in M&A deals despite ongoing economic challenges, with the lower- and mid-market continuing to transact at volume.” Egg producer to make substantial investment in Leicestershire manufacturing site Egg producer, Noble Foods is embarking on its next venture with a substantial investment in an added-value manufacturing site. In addition to recent acquisitions in animal feed and agriculture, this strategic move, set to begin production in the summer in Leicestershire, signifies Noble Foods’ decision to diversify its offerings and expand its Consumer Foods business beyond traditional shell egg. Noble Foods aims to build on its legacy at the new 10,000 sq m manufacturing site by introducing a range of pre-prepared foods using eggs. At its peak, the site has the potential to use over 1.6 million eggs per week. Aimed at the retail, Quick Service Restaurant (QSR) and wholesale market, foods including omelettes, egg bites, and frittatas will be made at the site, with a pipeline of innovative new egg-products already in development. The Leicestershire manufacturing site will offer up to 150 jobs in its phased opening. © stock.adobe.com/ M Stocker © University of Nottingham ©: Mountford Pigott © stock.adobe.com/ janonkasPROPERTY NEWS Details revealed on new student accommodation scheme at The Island Quarter The Island Quarter could eventually be home to more than 1,000 students following the submission of proposals for a second phase of purpose-built student accommodation (PBSA) on site. Plans submitted to Nottingham City Council will see a further 383-space student block built on the Manvers Road side of the 36-acre site. Combined with the 693 beds at the adjacent Winfield Court – which will open to students for the 2024/25 academic year – The Island Quarter will boast a significant student population once both phases are complete. The proposals – designed by DAY Architectural – cover a range of accommodation types including cluster accommodation, studios and premium options, along with student community amenity facilities such as a gym, laundry room, various lounges and informal breakout areas. Following a similar material palette to Winfield Court, the designs include a combination of grey, buff and red bricks on the building’s facade alongside ribbed metal cladding. Approval gained for Leicester light industrial scheme Planners have granted consent for a new scheme in Leicester that will deliver c.30,400 sq ft of light industrial accommodation. Commercial developer, Brackley Property Developments (BPD), will redevelop a brownfield site off Blackbird Road near Leicester city centre, on behalf of Leicester City Council. The redevelopment of the Ian Marlow Centre, a former council depot, aims to meet local demand for commercial employment workspace by delivering 21 small units for start-ups and growing businesses. BPD has completed the clearance of vacant office, workshop and storage buildings on site, with construction of the new units set to begin this month. The developer won the remit from Leicester City Council to deliver the project following a competitive tendering process. The project is being supported by funding from the government’s Levelling Up Fund. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Green light for Edwalton convenience store and retirement apartments Planning permission has been granted for a new convenience store and 77 retirement apartments at Edwalton, near Nottingham. Developer Charterpoint and not-for-profit housing provider Anchor have received reserved matters planning permission from Rushcliffe Borough Council for the scheme on the corner of Rose Way and Melton Road. The 2.2 acre site will feature a single-storey convenience store, plus a three- storey retirement apartment scheme providing a range of one and two-bedroom apartments. Charterpoint has now completed on the deal to sell part of the site to Anchor, England’s largest not-for-profit provider of housing and care for people in later life. Anchor will carry forward and operate the retirement development, which will include a range of residents’ amenities and a courtyard garden, as well as 77 apartments. Charterpoint will develop the remainder of the site for the convenience store and will announce further details in due course. © DAY ArchitecturalPROPERTY NEWS Plans approved for £1m Mansfield padel complex One of the world’s fastest growing sports is set to continue its growth in England, with unanimous approval of plans for a new £1m padel complex in Mansfield. World Padel Academy (WPA) is set to develop and operate its first fully- owned UK facility located at Mansfield Town Football Club’s One Call Stadium as part of a £10m investment to promote the game in the UK. To reach this latest development milestone, WPA has been assisted by Nottingham-based architectural practice CPMG on the facility’s design and by planning consultant Grace Machin on the approval required from Mansfield District Council. The project team, which also includes BSP Consulting for highways, drainage and flood risk consultancy, has helped WPA move to the next stage in its plan to transform an unused site into a bespoke complex including four indoor padel courts on a synthetic turf playing surface. The courts will be protected by a steel portal frame structure and floodlit by the use of integrated posts as part of the surrounding fence enclosure. Also included in the complex will be a reception area, food and drink outlet, sitting areas and a retail store, some of which will be housed in converted shipping containers. Richard Flisher, managing director at CPMG, said: “Interest and participation in padel is increasing at a rapid pace across the world, so we’re very pleased to be working alongside World Padel Academy again to continue to grow the inclusive game in England. Thai restaurant chain chooses Leicester for development and distribution site A nationwide chain of Thai restaurants, Giggling Squid, has chosen Leicester as the location for its main distribution network throughout the UK. A trading name of Chokdee Limited, which itself is a wholly owned subsidiary of Giggling Restaurants Limited; the group has recently taken occupation of a warehouse unit at Elland Road Leicester for use as a menu development facility and new product development kitchen, as well as a training and national distribution centre. Andrew + Ashwell, Leicester-based commercial property specialist, has secured the deal for the lease of the building. This comprises almost 45,000 sq ft of prime modern warehouse accommodation on the well-established Braunstone Frith Industrial Estate, three miles west of the city centre. Located close to Leicester’s Outer Ring Road, as well as M1 motorway Junctions 21 and 21A, the unit includes single-storey warehousing and open-plan two- storey offices, together with ample parking, on a prominent corner site on the west side of the estate. The group aims to recruit 20 new employees from the Leicester community. Trio of lettings secured at Leicestershire business park Three Leicestershire businesses have secured new industrial premises at Armston Farm, Cosby after property consultancy, Wells McFarlane negotiated a trio of lettings. Fox County Ltd, Fuses Electrical and Magna Manufacturing will all now be based at the South Leicestershire business park as they look to facilitate expansion. Wells McFarlane’s commercial asset manager, Tina Flynn negotiated all three lettings. She concludes: “It’s always pleasing to help tenants find their ideal premises, especially when it’s to support business growth and future success but securing a hat trick of new neighbours like this is definitely unusual! “Rural business parks like Armston Farm remain popular as business owners aspire to move to more strategic and sustainable locations. We anticipate this level of demand to continue across the Midlands so encourage interested tenants or landlords with similar properties to get in touch.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Holding an ideal position in the heart of the country, the East Midlands is unsurprisingly a popular location for investing in logistics schemes. S et within the Golden Triangle, the East Midlands is a logistics powerhouse. A prime location to secure industrial/warehouse units, a number of fresh deals and developments continue to illustrate the region is in strong demand. Logicor, for example, an owner, manager and developer of European logistics real estate, recently expanded its footprint in the UK by agreeing to forward fund a 500,000 sq ft distribution warehouse on a logistics site in Derby. Planning permission has already been secured for the warehouse on Infinity Park Derby, and throughout the construction phase, and when the building is complete, there is the A golden region A golden region www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY potential to create over 1,300 jobs. The development will be sustainably built and will target EPC A and BREEAM Excellent certification. Charlie Howard, Managing Director, UK at Logicor, said: “Infinity Park Derby fits perfectly with our strategy of further growing our footprint in areas where we know demand for quality real estate continues to outstrip supply. We are looking forward to bringing to the market a highly sustainable, well- designed asset that is in a prime location for the UK.” Remaining in Derby, independent property company, Hortons’ Estate Ltd, has completed a deal for a 207,000 sq ft industrial/warehouse unit at Sinfin Commercial Park, a multi-let industrial and logistics estate near the Rolls-Royce Sinfin campus. Previously occupied by UK cycling distributor, Moore Large, the unit comprises office, production, showroom, and storage and distribution facilities. Hortons already owns and manages 21 fully occupied warehouse 2 - caption: Sinfin Commercial Park 18 Á East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY units at Sinfin Commercial Park, which it purchased in a multi-million pound deal in 2023. The latest acquisition increases Hortons’ ownership to more than 30 acres, of which the company is exploring options to let or develop eight acres of open storage and development land. Jeremy Boothroyd of Hortons said: “We are very pleased to have completed the strategic acquisition of this substantial industrial/warehouse unit. The deal not only reaffirms our commitment to Sinfin Commercial Park but gives us the opportunity to remodel parts of the estate that have significant potential. We look forward to adding a new tenant to what is already a strong list of established occupiers.” Meanwhile, in Mansfield, developers HBD, part of Henry Boot, and CEG have secured a resolution to grant planning permission for APEX; a new 392,000 sq ft logistics and manufacturing hub that could create up to 500 new jobs. The partnership will deliver five high-spec buildings at the site, formerly known as Penniment Farm, ranging from 30,000 to 150,000 sq ft and ready to occupy from Autumn 2025. Vivienne Clements, head of industrial and logistics at HBD, said: “We’re pleased to be working with CEG to deliver this latest logistics scheme – it benefits from an excellent position on the M1 and, given its sustainability credentials and the local skills base in Mansfield, we expect to see strong interest from potential occupiers. Supply of high-spec industrial stock coming forward remains low across key industrial corridors in the Midlands – we’ll be looking to bring space forward quickly to meet established demand, with the first buildings ready to occupy from Autumn 2025.” At an earlier stage of the planning process, IMA Architects have submitted a detailed planning application to Rushcliffe Borough Council for Plot A2, a 100,600 sq ft purpose-built facility at Fairham Business Park on behalf of Clowes Developments. The unit will be located between Plot A4, a 100,000 sq ft unit which is currently under construction, and the recently completed stand-alone facility for SLS Medical who are now on site and fully operational. The brand-new purpose-built manufacturing premises will be comprised of a 76,520 sq ft single storey warehouse with 24,000 sq ft office and welfare space over two storeys. At the front of the building, there will be 152 car parking spaces with 16 electric vehicle (EV) charging bays. There will also be a large service yard to the rear with two dock levellers and three level APEX in Mansfield www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY access to meet the needs of the occupier. Clowes will be providing a fully photovoltaic (PV) ready frame. The unit is expected to be ready for occupation by end of 2024. James Richards, director at Clowes Developments, said: “Since its inception, we have seen a lot of interest in Fairham Business Park. This is no doubt down to its excellent location, first rate transport links, incredible setting and overall quality and speed of delivery of the development. In total, over half of Fairham Business Park, totalling 500,000 sq ft, is now sold, rented or under offer. In the last few months, we have evolved the site from a construction site to a thriving business park with two occupiers fully operational.” Finally, Phase 1A and 1B of industrial and distribution hub, Horizon 29, in Bolsover, Derbyshire are now finished. Horizon 29 is a new distribution development located one mile from Junction 29A of the M1, and once fully complete, it will span 1,150,256 sq ft and have a total of eight warehouses, delivered over three phases by McLaren Construction (Midlands and North). Phase 1A comprises two single-storey distribution warehouses (units 1 and 2) and sustainable features including solar PVs, air source heat pumps, enhanced cladding, responsibly sourced sustainable materials, LED lighting and electric vehicle charging points. The units have been constructed to a BREEAM Rating of ‘Excellent,’ with an EPC ‘A’ Rating. Phase 1B involved the construction of units 4 and 5, alongside all subsequent mechanical and electrical works, office fit outs and external works to ongoing conference laboratory car parks. The contractor also delivered earthworks, CMC and VSC piling, concrete foundations, steel framing, lift shaft and stair installations, nets for roofing works and office elevation cladding. Gary Cramp, Managing Director of McLaren Construction (Midlands and North), said: “We are delighted that works for both Phase 1A and 1B are finally complete. Once all phases are finished, Horizon 29 will be a premier distribution centre for the region, and an ideal hub for quality tenants looking for direct and easy access to the M1 north and south. We were pleased to be working alongside BentallGreenOak and Equation Properties for the second phase of this landmark scheme.” These represent a mere handful of recent deals and developments in the East Midlands, with the region maintaining its place as a popular location for logistics property. Unit 5, Horizon 29 Next >