< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Lincoln events software platform raises £1.5m A Lincoln company whose events software platform was used to help plan the 2022 Birmingham Commonwealth Games has raised £1.5m to enable it to bring its technology to a wider audience and create new jobs. Iventis has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia Ventures and part of the Midlands Engine Investment Fund (MEIF), and Mercia’s EIS funds. Iventis enables teams planning events to collaborate online by bringing together satellite imagery, maps, architectural drawings and other data in one easy to use platform. The company has worked on a host of high-profile events including the recent Special Olympics in Berlin, the World Cup and Dubai Expo. The latest funding will enable it to further enhance its technology and bring it to a wide range of event planners. Iventis was founded by Joe Cusdin who had previously worked on the London 2012 Summer Olympics. Mercia first invested in the business in 2019. The latest funding brings the total it has raised to date to over £2.1m and will enable the company to create around six new jobs. Insurance data intelligence provider completes new fundraise led by industry veteran Nottingham-based insurance data intelligence provider, Percayso Inform, has announced a second major investment in its fast-growing business with a £2.7m fundraise led by industry veteran, Neil Utley, and its existing venture capital investor, Praetura Ventures. Since its launch in the UK insurance market three years ago, a growing number of insurers, brokers and MGAs in both personal and commercial lines have partnered with Percayso to take advantage of its smart solutions to turn insurance data into intelligence, insight and outcomes. Its 65-strong client base now includes Ageas, Covea, Direct Line, Markerstudy, Somerset Bridge, The AA and many more. And in a transformational deal for the business this year, it also acquired Cazana – now branded Percayso Vehicle Intelligence – marking a major step forward in its plans to increase its footprint across the UK motor insurance market. Lincolnshire horticultural experts secure multi-million-pound refinancing package Lincolnshire horticultural experts, Bridge Farm Group, is set to enter a new phase of growth after securing a multi-million-pound refinancing package. Bridge Farm, based in Spalding, produces ornamental plants and cut flowers. The business grows more than 70 million plants and flowers each year in 60-acres of low-carbon, water- efficient and biomass-heated glasshouses. The business sells to UK-wide supermarket and DIY retailers. In addition to its horticultural operations, Bridge Farm’s specialist bioscience division is a leader in plant research and development. The business’s team of experts are focused on the identification, cultivation, and extraction of high value functional and active molecules from plants. Established in 1988, Bridge Farm has an annual turnover of £30 million and has a workforce of 160 employees. Louise Motala, Managing Director at Bridge Farm Group, said: “This deal represents another key milestone for Bridge Farm as we continue to expand and build value in the business. “It is essential that we continue to invest to maintain our expertise in both horticulture and bioscience and this new facility affords us greater flexibility to explore wider routes to growth.” Joe CusdinFINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Alumasc to acquire ARP Group Alumasc, the Kettering-based sustainable building products, systems and solutions group, has agreed to acquire Leicester-based ARP Group, a manufacturer and distributor of specialist metal rainwater and architectural aluminium goods. The deal, worth up to £10m, comprises an initial £8.5m, with additional consideration, capped at £1.5m, payable subject to ARP’s performance over the two years ending November 2024. ARP marks the first acquisition by Alumasc since 2018 and demonstrates the group’s strategy to supplement organic growth through earnings accretive acquisitions. ARP was established in 1987 and operates from four facilities totalling over 47,000 square feet, with a team of over 70 experienced staff. ARP’s consolidated unaudited results for the year ended February 2023 showed revenue of £10.8m and adjusted EBITDA of £1.3m. Consolidated net assets were £4.5m. Training firm fuelled by investment from private equity house Private equity house Key Capital Partners has completed a £6 million investment in Fuel Learning, a specialist in the provision of leadership and management training. The deal sees Key acquire a significant minority stake in the business. Headquartered in Measham, Fuel’s 80-strong team delivers tailored leadership and management development programmes to clients within multiple sectors, including transport, retail, logistics and construction. Since 2009 Fuel has provided commercial leadership development and in 2017 became a member of the UK’s Register of Apprenticeship Training Providers (RoATP) to deliver apprenticeships through the UK Apprenticeship Levy scheme. The highly experienced management team, led by Ian Prentice (CEO), Pete Hames (FD), Sarah Appleton (client services director), Karen Priestley (leadership development director) and Kate Baker (director of levy programmes), will remain in the business and will be supported by incoming non-executive chair, Paul Venables, who was formerly the CFO of Hays plc. © stock.adobe.com/ Feerga © stock.adobe.com/ dStudio Nottingham plant-based ingredients producer secures investment Flywheel Partners has invested into Freshcut Foods, the Nottingham producer of high-added value plant-based ingredients. This substantial transaction sees Flywheel take a majority stake in Freshcut, partnering with the company’s management team who are significantly increasing their stake in the business. Freshcut supplies more than 300 bespoke products to over 40 customers that include leading foodservice brands, food manufacturers and online recipe kit providers. Established in 2003, the company employs over 320 staff across three adjacent manufacturing facilities in Nottingham. The business has experienced strong growth in recent years, solidifying its position as a market leader. To help support this growth, there has been significant investment into capacity and efficiency initiatives, which will enable future expansion. The company has benefitted from the rise in ‘flexitarianism’ where consumers are increasingly incorporating vegetables and other plant-based products into their diets for health, sustainability and financial reasons. Rising health consciousness, greater environmental awareness and climbing meat prices have encouraged many consumers to turn towards more plant-based products and diets. Multi-million pound order for Worksop manufacturer bound for Brazil Worksop-based wire rope manufacturer Brunton Shaw is celebrating the successful departure of a multi-million pound order, as two 3.5 kilometre, 329 tonne Ocean Max cables are shipped to Brazil. Manufactured at the Sandy Lane factory in Worksop, the Ocean Max cables are a best in class steel wire rope that will be used on pipe laying supply vessels in the Atlantic Ocean, off the coast of Brazil. Transported on purpose built spools, standing over 4.7 metres high, the production of the Ocean Max cables is a true international trade collaboration. The raw material steel wire is delivered from a partner factory in India and manufactured in a purpose built, half a kilometre long winding shed in Worksop, taking advantage of Brunton Shaw’s 130 years of industry experience. The finished products are then shipped to market from the Port at Goole. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS Vistry reopens East Midlands timber frame factory Vistry Group, the homebuilder, has re-opened the timber frame manufacturing plant it acquired as part of its combination with Countryside Partnerships. The relaunch of the mega facility sees it branded as Vistry Works East Midlands. The 356,000 sq ft facility has the capacity to deliver in excess of 6,000 homes per year. This, combined with Vistry’s existing two factories in Warrington and Leicester with a delivery capacity of 5,000 homes for full year 2024, creates a strong strategic asset for the group to deliver MMC at scale. Underpinned by the scale of the expanded Vistry Group business, the new factory is expected to deliver over 2,000 homes in its first year of operation, with approximately 40% of these for new sites. In addition to supplying new homes with open panel frames for the group’s mixed-tenure Countryside Partnerships business and Housebuilding business, including the provision of Housing Association and PRS units, the new MMC facility will facilitate the delivery of homes to meet the Future Homes Standard which comes into operation in 2025. Administrators of plant-based foods firm secure sale of manufacturing site The administrators of Plant and Bean Limited (P&B) have sold the company’s manufacturing site and associated equipment to Vegan Solo Consulting Limited (Vegan Solo) and Duo Renovations Ltd (DRL). P&B is a dedicated alternative protein food manufacturer based in Boston, Lincolnshire, operating from a 125,000 sq ft factory and producing vegetarian products for large brand names with placements in major supermarkets. The company entered administration on 31 May 2023 when James Clark and Howard Smith at Interpath were appointed joint administrators. Vegan Solo specialises in the production of meat-free products and is run by Heather Mills, the entrepreneur and a leading champion for the vegan movement. This purchase will add to Miss Mills’ existing portfolio which includes Vbites – a pioneer of meat-free substitutes. Like several other businesses in the sector, P&B experienced significant inflation across its cost base, primarily increases in food and energy prices. The business also suffered from several operational issues stemming from a lack of investment. New cutting-edge automotive training facilities in Derby Derby College Group (DCG) are set to receive a £3.5 million capital award from the Government’s Post 16 capacity fund. This will enable DCG to provide additional capacity for 16-19 learners and create a space that meets local and national skills requirements and is reflective of learner demand. The new state-of-the-art facilities will ensure that DCG is equipped to provide training for the changing automotive technologies including the evolving requirements for electric vehicles. The new facility will be located at the back of the current Stephenson Building on the Roundhouse site in Derby. And importantly, it will be built in the most efficient and sustainable way in order to achieve net-zero carbon emissions. Iain Baldwin, director of estate commented on the new building: “It is excellent news to be awarded this grant as this will enable us to create a building that will be totally aligned to the needs of the automotive industry.“ East Midlands Business Link MANUFACTURING NEWS Mansfield manufacturer wins 16th Scottish contract for Morrison Construction Mansfield-based Deanestor, the education fitout specialists, has been awarded its 16th contract for Morrison Construction in Scotland. The new project involves the provision of around 6,000 items of loose and fitted furniture for a primary school and community hub now under construction in Aberdeen. This contract for Greyhope School and Community Hub follows the successful completion of Countesswells Primary School – Deanestor’s latest school fitout to be delivered for the same project team. Both projects are for Aberdeen City Council, and are with main contractor Morrison Construction. Deanestor’s contract at Greyhope School is for the fitted furniture for 117 rooms which will be finished in graphite grey and white, and loose items supplied in a palette of bright colours. Items manufactured by Deanestor will include a trophy cabinet, tilt-top tables, worktops, desks, storage solutions, lockers, and teaching walls. © stock.adobe.com/ New Africa © stock.adobe.com/mayday Greyhope School & Community Hub CGI - © Halliday Fraser Munro 31 jobs saved as Nottinghamshire engineering firm sold Restructuring professionals from specialist business advisory firm FRP have completed the sale of Lindhurst Engineering in a deal that preserves 31 jobs. Sutton-On-Ashfield-based Lindhurst manufactures bespoke machines and structural fabricated products for use in the utility, construction and transport sectors. Ben Jones and Raj Mittal were appointed as joint administrators to Lindhurst Engineering Company Limited on 5 July 2023 following inflationary and cashflow pressures despite a strong order book. Following their appointment, the joint administrators completed the sale of the business and certain assets to ECS Engineering Services Limited. © stock.adobe.com/ joyfotoliakidPROPERTY NEWS Futures and United Living partner to build affordable Northampton homes Futures Housing Group, a not-for-profit housing association in the East Midlands, is working with United Living Group to build 38 affordable homes in Northampton. Futures has awarded United Living a £9.2 million contract to build the new development on Central Avenue, Northampton. The site will be made up of 20 social rent and 18 shared ownership properties, including one bed flats and two and three bed homes. The project is expected to take 18 months to complete. Lindsey Williams, Group Chief Executive of Futures, said: “I’m really pleased Futures is working together with United Living to build much needed homes for people in Northamptonshire. There’s an annual shortfall in the number of homes being built across our region and nationwide, so developments like this are very much a part of our core purpose here at Futures.” Duo of Northamptonshire logistics sites acquired by Czech firm P3 Logistic Parks has expanded into the UK through the acquisition of two logistics assets from Segro, totalling 81,000 sq m of space. One asset is located in Crick and comprises around 36,000 sq m lettable area. The second asset with more than 45,000 sq m is located in Kettering. Frank Pörschke, CEO of the Czech firm, said: “The acquisition of these two logistics assets in the UK marks a significant milestone for P3, as it expands our operations into a key market known for its robust logistics industry. “The country has always been a vital hub for international trade and commerce, and we are excited to offer our expertise and resources to meet the evolving needs of businesses operating in this region.” All units were developed from 2010 onwards to a modern Grade A institutional specification including BREEAM rating ‘Very Good’ and are fully leased out to three tenants. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Pick Everard to drive Leicester improvement programme Independent multi-disciplinary consultancy Pick Everard has been appointed to a new framework deal with Leicester City Council. Operating on an initial two-year term, with options to extend for a further two, the framework will see Pick Everard flex its range of consultancy services, working closely with the council’s Estates and Building Services (EBS) department to drive city-wide improvement programmes. Pick Everard will lead ‘Lot A’ on the Project Construction Professional Services Framework, providing multi-disciplinary consultancy across the entirety of the council’s estate, including schools and education, transport, art galleries and museums, leased premises, public and office buildings, and housing. Matt Hall, national director at Pick Everard, said: “This appointment marks a significant period for our business and Leicester City Council, which like all local authorities across the country is working hard to deliver and maintain a building stock fit for current and future sustainability standards. “As sole multi-disciplinary supplier, our aim is to deliver real value to the city, building on our previous work across a broad and varied estate, that will deliver the best possible outcomes, with high quality assets that will positively impact this generation and the next.” Matt HallPROPERTY NEWS Henry Brothers appointed by University of Nottingham on Castle Meadow Campus scheme Henry Brothers Construction has been appointed by the University of Nottingham to help develop its Castle Meadow Campus (CMC) in the city. The company has won a £7m contract to remodel and refurbish two of seven buildings on the 3.75 hectare site – preparing them for future occupation. The university plans to create an enterprise campus on the site which is located on Castle Meadow Road at the foot of Nottingham Castle and was formerly occupied by HMRC. The development has now entered its latest phase, with contractors being appointed to convert the site’s buildings and landscape to kickstart the creation of a new city centre campus for the university. Henry Brothers Construction has been appointed to strip out and refurbish buildings D and F on the site. On completion of the work in building D later this year, the facility will be used for long-term leases for the university’s industry partners, including leading global accountancy firm KPMG. The plan is for building F to also house industry partners – but predominantly innovative spin outs, start-ups, and scale ups on flexible licenses. Logistics supplier expands into Alfreton warehouse facility Ascott Transport Limited (ATL), a provider of complete solutions in the logistics and warehousing industry, has expanded into a new warehouse in Alfreton. This addition to the business follows an increase in demand for ATL’s services, which has enabled the company to expand on their existing 1.2 million sq ft warehousing footprint. The new facility comprises of 149,500 sq ft and will operate as a further satellite site which services ATL’s existing client base. The facility will provide high bay warehousing and a centralised location to service all of the UK. As the warehouse is within close proximity of Junction 28 on the M1, the new warehouse has also generated employment opportunities. Plans submitted for Edwalton retirement apartments and convenience store Developer Charterpoint and retirement housing provider Anchor have submitted a joint planning application for 77 retirement apartments at Edwalton, near Nottingham. A convenience store, which will be operated separately, is also part of the plans. Earmarked for land on the corner of Rose Way and Melton Road, the retirement scheme would provide a range of one and two-bedroom apartments in a three-storey block. The proposals also include a residents’ restaurant, lounge, outdoor dining terrace, hairdressing salon, beauty and treatment studio, guest suite, and a courtyard garden and will be operated by Anchor, England’s largest not-for-profit provider of housing and care for people in later life. The apartments will be a mix of shared ownership and rental properties – filling a gap in the market in the West Bridgford area. A single-storey convenience store is also planned for the 2.2 acre site, both accessed off Rose Way, which will be operated separately from the retirement scheme. The site has outline planning permission for development, but now Charterpoint and Anchor have submitted detailed designs for the land to Rushcliffe Borough Council. The plans for the Edwalton site have been designed by Brewster Bye Architects. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link © stock.adobe.com/ Aleksei East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Transformational projects are abound in the East Midlands, with Nottinghamshire having made its way into the spotlight repeatedly as of late. I n Nottingham and its surrounding county, major, transformational developments are moving forwards, to ensure key sites are fit for the future. Recently attention has been drawn back to the opportunities provided by the Broad Marsh area in Nottingham city centre — one of the largest and most significant city centre projects anywhere in the UK — which, while facing its fair number of ups and downs, continues to make progress in its regeneration story following the construction of the new Central Library, Bus Station and public realm improvements. It was revealed last month (July) that international architecture and design practice BDP had been appointed by Nottingham City Council to develop a master plan to realise the city’s vision for Broad Marsh, moving the proposals for the whole site towards the submission of a planning application and the start of construction on a project that will see Nottingham become a leading light in a new approach to city centre regeneration. The practice will work with www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY © stock.adobe.com/simonXT2 the council on a deliverable plan and strategy to create an exemplar, sustainable development with social value, viability and deliverability at its core. Key elements include 1,000 homes, 500,000 square feet of commercial and office space, the retention of part of the old Broad Marsh shopping centre’s structural frame to establish an innovative new space, and rejuvenation of the city’s cave network. Currently taking the spotlight at Broad Marsh, however, is the new ‘Green Heart’, for which works are to start this autumn. Developed by Townshend Landscape Architects along with Nottinghamshire Wildlife Trust, with Heatherwick Studio retained as a strategic design advisor, the ‘Green Heart’ public space is the size of a football pitch and forms the centrepiece of Nottingham City Council’s vision for Broad Marsh. It will enhance biodiversity by introducing green ecologically rich areas and diverse natural spaces providing habitats and food for wildlife, forming a green infrastructure network linking across the wider Broad Marsh area from Nottingham Castle through to the Island Quarter site (another huge regeneration zone in Nottingham) and beyond. The design carves into the site creating pathways, pocket spaces and seating for people to enjoy, bringing nature back via ecologically rich planting. A primary aim is to put the ‘marsh’ back into Broad Marsh, introducing new urban wetlands where there was once a marshland ecosystem to capture, slow and filter 18 Á East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY © stock.adobe.com/Leonid Andronov Townshend Landscape Architectswww.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY rainwater, potentially preventing flooding. Furthermore, sandstone, the rock on which Nottingham Castle was built and into which the city’s cave system was cut, will be used for paving and seating, and a long bench will pass through the planting and marsh allowing people to sit and experience nature. City Council leader, Cllr David Mellen, said: “We have made significant progress on reshaping this part of the city to make the most of this once- in-a-generation opportunity. The new Broad Marsh car park, bus station and Central Library and the transformed streets around it have helped to create a modern, welcoming gateway to the city. We have demolished a large part of the former shopping centre, and will start work later this year on turning part of that space into the Green Heart that so many people have said they want to see in this area. I’m delighted that for the rest of the site we have appointed BDP, a renowned urban design firm which will take the vision and turn it into a deliverable plan. This is a significant step towards seeing this site achieve its potential of becoming a destination in its own right and a driver of investment, jobs and growth for the whole city.” Elsewhere, the major, aforementioned, Island Quarter development continues at pace. While an initial phase has seen restaurant and entertainment venue 1 The Island Quarter open, in June a student accommodation scheme topped out, which will be home to nearly 700 students from next autumn. The student accommodation forms the second phase of the 36-acre development, with the Conygar Investment Company – the developer behind the scheme – also receiving planning permission for almost 250,000 sq ft of bioscience and laboratory space, and looking to start work on a 17-storey hotel. Homes, offices, and a hub for a new digital arts community are amongst other proposals for The Island Quarter. Leaving the city, another significant milestone has come with the Ratcliffe on Soar power station site recently receiving Local Development Order (LDO) planning permission status that could fast- track new investment, development, green industry and business projects, and potentially create thousands of permanent highly skilled jobs. The power station, owned by Uniper, will close at the end of September 2024, and the LDO could now increase the speed at which planning processes could be progressed for a range of modern industrial uses. The vision for the site sets out guiding principles by which any development could be brought forward, including: a zero-carbon technology and energy hub for the East Midlands; highly skilled, well- paid jobs; modern industry and business uses, served by on-site sustainable energy generation and storage; advanced manufacturing and low- carbon energy production, for example to produce electric car batteries; and a hub for research, development, and innovation, through links with universities, business support organisations and established industry. Leader of Rushcliffe Borough Council, Cllr Neil Clarke MBE said: “The possible range of modern manufacturing and research uses on the redeveloped site, still subject to independent planning processes, is hugely exciting. The power station is such an iconic landmark in Rushcliffe and the East Midlands, it is vital it evolves to continue to be a site of national importance. This LDO simplifies and streamlines the planning process for large sites such as this and without it there is a risk of piecemeal and unplanned developments. It sets policy to control development and raises the bar on the type of development and jobs it could attract as this potential prime investment arrives in the Borough. It’s also a flexible planning tool and can respond to changing circumstances and provides clarity, certainty and clear route through planning for investors.” The LDO being granted follows the creation of a design guide and masterplan for the site that was prepared to support the redevelopment, which will guide growth and development at the site over the coming years. These three areas of redevelopment represent just an iota of the transformational schemes taking place across Nottinghamshire and the East Midlands — a region ripe for regeneration.Next >