< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Chesterfield drilling firm secures seven-figure loan to deliver green power to Ethiopia A Chesterfield-based onshore deep drilling specialist has secured a seven- figure loan to help finance its work on the construction of two ‘green’ power stations in Ethiopia. The Marriott Drilling Group has raised the funding from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF). The projects at Tulu Moye and Hawassa will be the country’s first independent power stations and will run off geothermal energy harnessed by drilling deep into the volcanic rocks below. Marriott has already invested in two new rigs that are currently being shipped to Ethiopia. The funding will provide working capital to support the ongoing operations, which will last for four years and require up to 160 technical staff. David Jones, financial controller at Marriott Group, said: “The projects at Tulu Moye and Hawassa will be critical in rolling out renewable energy to meet Ethiopia’s growing power needs. However large-scale contracts like these require us to have the right finance in place. The funding from NPIF – Mercia Debt Finance will provide additional capital to support the day-to-day operations on site.” Private equity investor acquires Leicestershire’s CTS Group Palatine has successfully exited its investment in CTS Group, the fast-growing provider of testing, inspection and geoengineering consulting services to the construction and infrastructure sectors. Leicestershire-headquartered CTS has been acquired by Oakley Capital, the pan- European private equity investor. Palatine made a partial exit from the business in 2021, with the sale of its insurance claims management division to HomeServe plc for £53m. Together the transactions represent a return of 5.8x for Palatine’s investors. Since its initial investment in 2018, Palatine has grown CTS into a leading business in the UK. Revenues have more than doubled over the last three years, through Palatine’s investment in digital transformation, talent acquisition and a highly successful buy and build strategy. With Palatine’s backing, CTS has made nine acquisitions adding complementary services and geographic scale to its offering. In parallel with the acquisition of CTS, Oakley Capital has invested in Phenna Group, a global Testing, Inspection, Certification, and Compliance sector business. CTS will become part of Phenna Group upon completion of both deals. The existing CTS management team will continue to lead the business within the wider group. Lutterworth hygiene solutions firm snapped up Enact has acquired PAL International from its family owners. Established in 1970, PAL has over forty years experience in providing hygiene solutions and infection control in healthcare, food manufacturing and industrial markets. PAL’s head office, medical grade manufacturing site and European warehouse are based in Lutterworth, Leicestershire. The business also has an office & warehouse in Dubai helping to support an extensive distribution network that covers more than 70 countries. Chris Cormack, partner of Enact, said: “We are delighted to acquire PAL and provide the investment needed to recapitalise the business. The PAL brand is recognised and trusted worldwide and has an excellent reputation in the highly regulated markets in which it operates. “We are looking forward to supporting the management team to take advantage of a number of identified market opportunities which will enable further growth and development of the PAL brand.” Enact invests transformational capital of up to £5 million into UK-based SMEs. The individuals who comprise the investor base of Enact Fund II include successful entrepreneurs, existing and former Board members of successful Yorkshire businesses and management from former portfolio companies. The single biggest investor in the Fund is the Endless and Enact partner and employee group. Enact was advised by Simon Pilling, James Cook and David Ridley of Womble Bond Dickinson and Russ Cahill of the Tax Advisory Partnership. PAL were advised by Interpath and Freeths. Tim Bateson, director at Interpath Advisory, said: “We’re delighted to have been able to conclude on this transaction, which safeguards the future of this market-leading international business. We wish the purchaser all the very best for the future.” 06-15.qxp_Layout 1 06/09/2022 10:19 Page 5Loughborough furniture business fitted out for growth following cash injection A Loughborough furniture fit-out business is looking to accelerate its growth ahead of its 25th anniversary, after securing a £250,000 loan from Lloyds Bank. Fieldhouse Furniture is a female-founded family business which specialises in bespoke large scale interior design projects for high- end student accommodation, homes, boutique hotels and workplaces in the UK and EU. The £250,000 invoice finance facility will enable Fieldhouse Furniture to access funds earlier, allowing the business to procure materials further in advance, focus on diversification into high-end student accommodation and invest in talent acquisition and development to drive growth. Next year marks 25 years since Fieldhouse Furniture was established, having grown from a small curtain maker to a £5m turnover business, employing more than 115 staff across its international operation. The firm works with well-known developers such as Watkin Jones and Gilltown to deliver the design, supply, manufacturing and fit for projects in the UK, as well as Spain, Portugal, Germany, Italy and the Netherlands. Elizabeth Wild, founder and Managing Director of Fieldhouse Furniture, said: “The funding from Lloyds Bank will allow us to protect the business against the challenges that the construction industry is currently facing while continuing to drive growth. “A key area of focus where many businesses are struggling at the moment is talent acquisition. As a family firm, it’s essential that we’re recruiting special people who are going to be a good fit, as well as ensuring that our talent strategy gives back to the local community. This funding will help us to invest in our workforce and secure the business’s future.” FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Administrators sell The Health Store The joint administrators of Health Stores (Wholesale) Limited, Chris Pole and Ryan Grant from Interpath Advisory, have completed a sale of The Health Store brand and its assets to Hunt’s Food Group Limited. Hunt’s Food Group is a leading Foodservice, Retail and Natural products supplier based in the south of England with its head office in Sherborne, Dorset. The transaction will see 17 employees at Health Stores (Wholesale) Limited’s base in Nottingham transfer to the purchaser. Chris Pole and Ryan Grant were appointed joint administrators of Health Stores (Wholesale) Limited and Tree of Life UK Limited on 22 August 2022. The companies form part of the UK’s largest independent health food and wellness products distribution platform, supplying a broad range of third party and owned brand goods, food and drink, personal care, and vitamins, minerals and supplements. Chris Pole, Managing Director at Interpath Advisory and joint administrator, said: “Hunt’s Food Group has an excellent reputation within the industry, and has broadened both its produce and service offerings in recent years to supply a wide ranging customer base. “We’re pleased to have concluded the sale of The Health Store Brand and its assets to Hunt’s Food Group, ensuring The Health Store will continue to trade and providing certainty for those employees who will transfer to the new owners. We’d like to thank all those who helped to deliver this transaction within a short timetable, and wish Hunt’s Food Group every success in the future.” © stock.adobe.com/ Pixel-Shot Intercity CEO, Andrew Jackson 06-15.qxp_Layout 1 06/09/2022 10:19 Page 6Rolls-Royce SMR signs agreement with Dutch company Derby-based Rolls-Royce SMR has signed an exclusive agreement with the Dutch development company ULC-Energy to work together to deploy Rolls-Royce Small Modular Reactor (SMR) power stations in the Netherlands. Rolls-Royce SMR and ULC-Energy believe nuclear energy can accelerate the transition to a clean, affordable, and reliable energy system in the Netherlands. ULC-Energy intends to develop nuclear projects deploying modern, state-of- the-art, modular reactors that are based on proven technology. The Rolls-Royce SMR has been selected by ULC-Energy as its SMR technology provider of choice. The Rolls-Royce SMR applies proven nuclear technology to provide affordable, secure, low carbon electricity and heat; building on capability and experience in manufacturing, energy systems and nuclear reactor design and construction. 90% of the Rolls-Royce SMR is built in factory conditions, limiting on-site activity primarily to assembly of pre-fabricated, pre-tested, modules which significantly reduces project risk and has the potential to drastically shorten build schedules. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS Loughborough University and Caterpillar reinforce strategic collaboration Loughborough University and Caterpillar have formally agreed to continue a strategic collaboration launched more than 25 years ago to accelerate innovative technologies within the off-highway powertrain sector. The collaboration began in the late 90s and led to the establishment on the University campus of the Innovation and Research Centre (IRC) with world-class facilities and expertise in the field of engines, engine sub-systems and hybrid powertrain systems development. The IRC was the first long term collaboration between Caterpillar and a university in Europe. It delivers research that addresses fundamental questions, discovering and developing new engineering processes and components applied worldwide by Caterpillar and its global supply chain. Over the years the IRC’s many projects spanning control, thermal management, aftertreatment and more recently hybridisation, materials, data analytics and digitisation have earned international academic respect, delivering commercial value as well as far-reaching economic and societal impact. Caterpillar’s collaboration with Loughborough is having a profound impact on the provision of industrial skills, providing invaluable professional development to all levels of engineers in the company through bespoke courses, as well as recruiting more UK-based graduates from Loughborough than any other university. East Midlands manufacturer awarded £1m mental health hospital contract Mansfield-based Deanestor has been awarded a £1m contract by Integrated Health Projects to provide bespoke fitted furniture and fitout services for a £60m mental health facility on the Maudsley Hospital campus in London. Due to open in 2023 and designed by IBI Group, the purpose-built New Douglas Bennett House will house acute adult inpatient services in eight wards, including four specialist wards and a psychiatric intensive care unit. Deanestor will be manufacturing bespoke furniture for 132 patient bedrooms, including wardrobes, desks, shelves, and bedside cabinets. This furniture is designed to be robust and heavy duty, and is machined and pre-assembled in Deanestor’s Mansfield factory for a strong finish. Around 3,000 items of furniture and fittings will be installed by Deanestor, such as curtain tracks, window blinds, and stainless-steel dispensers and soap dishes in the ensuite bathrooms. Deanestor is also manufacturing and installing 10 stainless steel kitchens, and furniture for utilities and ancillary facilities for staff such as offices and lounge spaces. L-R: Bas Sujis (ULC-Energy), Sophie Macfarlane-Smith (Rolls-Royce SMR), Joanna Roper CMG (UK Ambassador to the Netherlands), Alan Woods (Rolls-Royce SMR), Dirk Rabelink (ULC-Energy) Centre left to right: David Goldspink, Caterpillar vice president and general manager, and professor Nick Jennings, Loughborough University vice-chancellor, with members of Caterpillar and the Innovation and Research Centre. 06-15.qxp_Layout 1 06/09/2022 10:19 Page 7Rolls-Royce’s €1.8bn sale of ITP Aero approved The Spanish government has approved Rolls-Royce’s sale of ITP Aero to a consortium of investors led by Bain Capital Private Equity. It follows the approval of all other relevant regulatory authorities. The completion of the transaction, at an enterprise value of approximately €1.8 billion, is now expected in the coming weeks. Rolls-Royce said in a statement: “This sale, which was announced on 27 September 2021, completes our disposal programme announced on 27 August 2020, to raise proceeds of at least £2.0 billion. Upon completion, sale proceeds (excluding any cash retained by Rolls-Royce) of approximately €1.7 billion will be used to help rebuild the Rolls-Royce balance sheet, in support of our ambition to return to an investment grade credit profile in the medium term.” ITP Aero will remain a key strategic supplier and partner for Rolls-Royce across both Civil Aerospace and Defence programmes. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS EV Technology Group to open EV Centre of Excellence in Silverstone EV Technology Group has entered into terms with MEPC Silverstone Park, securing a 90,000 sq ft industrial lease at the historic motoring site. The new facility comprises EV Technology Group’s EV Centre of Excellence, and has been constructed by MEPC, and is a part of MEPC’s latest 265,000 sq ft development at Silverstone Park. It follows the recent announcement of the proposed acquisition by EV Technology Group of Fablink Group Holdings Limited, a tier one contract manufacturer in the United Kingdom, who operate seven manufacturing and assembly sites with over 750 employees. Fablink operates its ‘Streamline Automotive’ Division, which services the increasing demand in the UK for contract vehicle assembly services, especially in the electric vehicle sector. The new Silverstone facility will allow EV Technology Group and its subsidiaries to rapidly expand electric vehicle manufacturing and assembly capacity, supporting its vision of electrifying iconic brands. As EV Technology Group looks to expand its house of brands, this facility will be home to the company’s electric vehicle engineering and development hub, whilst also providing world class facilities for Streamline Automotive for vehicle assembly and finishing. Wouter Witvoet, CEO and founder of EV Technology Group, said: “Silverstone has been the home to many iconic motoring stories – and our future electrifying iconic brands here will be part of its next chapter. The site’s location puts us in the heart of the booming UK EV industry, and will allow us to scale manufacture and assembly of electric brands such as the iconic MOKE.” Image courtesy of IBI Group © stock.adobe.com/ jetcityimage 06-15.qxp_Layout 1 06/09/2022 10:19 Page 8PROPERTY NEWS Three new occupiers for Teal Trade Park On behalf of Northwood Urban Logistics, joint agents FHP Property Consultants and Phillips Sutton have secured three new occupiers for Teal Trade Park, Nottingham. Occupiers including the Wooden Floor Store, Exhausts, Tyres and Batteries (ETB), and Klarheit Aluminium Windows & Doors, have taken new leases on Phase 2 of Teal Trade Park. These further lettings complement the existing occupier line-up of Howdens, Screwfix, Toolstation, Karcher, Trent Valley Windows, Trent Vehicle Charging and PaintWell. This leaves just three remaining units of Units 8, 9 and 10, ranging from 322m? (3,483ft?) up to 370m? (4,013ft?) with the ability to combine units. Iain Taylor, director at Northwood Urban Logistics, said: “Enquiries remain strong at Teal Park since the market for trade units of this size remains on the up, particularly when you add in Nottingham’s excellent transport links with the rest of the UK.” Henry Brothers hands over new school extension in Derbyshire Contractor Henry Brothers has handed over a new extension at Glossopdale School to Derbyshire County Council. The £4 million extension is the second phase of the Council’s plan to increase capacity at the school, which can now take up to 1,440 pupils. The new space will provide an additional nine teaching spaces comprising eight standard classrooms and a demonstration science lab. It will also provide flexible options for dining and social spaces and extra staff workrooms. Ian Taylor, Managing Director of Henry Brothers Midlands, said: “Having built the main Glossopdale School, which has proved so popular, Henry Brothers is delighted to have now delivered an extension to create additional space for a further 200 students. “We have partnered with Derbyshire County Council on several school projects over recent years, helping to enhance facilities, and it’s great to see the completion of this latest scheme.” The addition, which was funded by the Council, is set into the hillside and also includes a new multi-use outdoor games area for play and PE. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Top UK supplier of sparkle and feathers moves into new Mansfield business park The UK’s leading supplier of ostrich feathers and sequins to customers like Strictly Come Dancing and the X-Factor has moved into a new Mansfield business park. Diamante Crafts has bought a 2,500 sq ft unit at Aria Park, off Sherwood Avenue, built by commercial property developers Priority Space, working with HG Sites. The family business, which sells quality arts and craft supplies, is expanding into its new larger workspace, in response to increased demand for its products from makers, designers and creatives across the UK. Its colourful ostrich feathers and own-brand diamante jewels have been sought out for Anton Du Beke stage productions, Elton John music videos and Gok Wan fashion shoots. They have added sparkle and colour to Notting Hill Carnival and the latest Dumbo film produced at Pinewood Studios. Jacqueline O’Neil, who founded the business in 2006, said: “The new unit we’ve bought at Aria Park allows us to extend our range and buy more in bulk so that we can respond quickly to increased demand for our products.” All 18 units at Aria Park have now been taken by SMEs. 06-15.qxp_Layout 1 06/09/2022 10:20 Page 9PROPERTY NEWS Polystyrene firm expands with warehouse acquisition A manufacturer of expanded polystyrene products is launching a new base in Northamptonshire after acquiring a mid-box warehouse unit. Sundolitt Ltd completed its search for a regional headquarters with the purchase of Centrix58 – a recently constructed 58,586 sq ft unit at Centrix Business Park in Corby. Eamon Kennedy, executive partner and head of commercial agency at Kirkby Diamond, acted on behalf of Sundolitt, negotiating with Burbage Realty and FHP, acting on behalf of developers NFU Mutual and Clowes Developments to complete the multi-million pound deal. Eamon said: “I was instructed by Sundolitt last year to find a freehold warehouse unit of between 50,000 and 70,000 sq ft. It took time to find the perfect property for the business because of the well-documented shortage of industrial units right across the region. We were originally looking in the Luton to Coventry M1 corridor but had to expand our search due to the lack of freehold stock. Centrix58 was initially only available on a leasehold basis, but we were able to negotiate with Burbage Realty to sell the freehold.” Detailed planning application submitted for Mansfield industrial scheme CEG and Henry Boot Developments have submitted a detailed planning application to develop a five unit industrial / logistics scheme on their 30 acre site in Mansfield. As designed the development will provide a five unit scheme totalling 430,500ft?. Units will range from 30,000ft? to 150,000ft? in size. FHP are working with M1 Agency and CPP on the scheme and anticipate that units will be delivered Q1 2024. The site is accessed directly from the A617 Mansfield and Ashfield Regeneration Route (MARR) and is well positioned to provide access to both Junction 28 and Junction 29 of the M1. Construction of new schools begins in Wellingborough Work has commenced on two educational facilities at Glenvale Park, a 3,000 home sustainable urban extension to the north of Wellingborough, Northamptonshire. The works comprise a new two-form entry primary school for up to 420 pupils as well as a 75-place nursery and community centre. Alongside these works, a new children’s play park facility will be delivered, creating a flagship recreational amenity for children living in the area. Mark Best, director of Midtown Capital, Managing Partners of Glenvale Park LLP, said: “We’re delighted that the first works have commenced on the two educational facilities at Glenvale Park, marking a significant milestone in the development’s progress as well as delivering on our commitment to generating social value for the Wellingborough area. “The primary and nursery schools will become a space to learn for children living at Glenvale Park and beyond for many years to come. We’re excited to welcome the first pupils and their families to the schools in 2023.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Glenvale Park 06-15.qxp_Layout 1 06/09/2022 10:20 Page 10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY W ith the effects of climate change more evident than ever, our region’s governing bodies setting ambitious targets for carbon neutrality, and a clear demand for businesses to reduce their greenhouse gas emissions and improve their sustainability, it is unsurprising that there is a desire for commercial property to become greener too. From using bigger windows to optimise natural light, thus minimising energy use, to incorporating renewables and efficient electrical design, to utilising less virgin materials in construction, many approaches are being taken to provide greener offices, warehouses, and other The need for more sustainable buildings is clear as the world continues to be ravaged by climate change. Here in the East Midlands, a number of developments are ready to lead the way to a greener future. A greener future facilities, and moving forwards regulations will only home in more on reducing the impact of buildings on the environment. New rules from the Government for example are pushing for buildings in England to produce significantly less CO2, requiring CO2 emissions from new build homes to be around 30% lower than previous standards, while emissions from other new buildings, including offices and shops, must be cut by 27%. A plethora of developments in the East Midlands are leading the way to a greener future such as the £9m project on Loughborough University Science and Enterprise Park (LUSEP) to create a 2,000 A greener future 16-19.qxp_Layout 1 06/09/2022 10:21 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY highly efficient heat pumps, opening triple-glazed windows, solar shading to avoid summer overheating as well as a well-insulated building fabric to minimise heat loss. Passivhaus consultants Beyond Carbon Associates have hailed the development as “an exciting, future-facing building, treading lightly on our planet’s resources using Passivhaus energy conservation, solar PV and a climate resilient design to manage future heat waves.” SportPark houses the UK’s highest concentration of sports governing bodies and national sports organisations. The latest organisation to join is UK Anti-Doping (UKAD), having relocated its central office from London in May 2021, as part of its new 2021-2025 Strategic Plan. UKAD is the anchor tenant of SportPark Pavilion 4, occupying the entire third storey. Henry Brothers Midlands are leading the project to build SportPark Pavilion 4. Managing Director, Ian Taylor, said: “SportPark Pavilion 4 is an exciting Passivhaus development which is supporting Loughborough University’s plans to decarbonise its estate to meet the Government’s zero carbon target by 2050. It also builds on Henry Brothers’ growing portfolio of environmentally sound schemes and we are very pleased to have reached this milestone in this important development for the University.” Meanwhile, a new, low-carbon council office has been given the green light to be built at the site of Top Wighay Farm near Hucknall. The construction of the flagship building will help Nottinghamshire County Council save more than a million pounds each year. The new building is a key component of the council’s ‘Investing in Nottinghamshire’ programme to reduce the number of council buildings from over 17 to 10, resulting in an annual saving of £1.35m for taxpayers and more resources for vital public services. The Top Wighay office will also generate income by leasing space to other public sector organisations and small and medium-sized businesses. The Top Wighay office is part of broader plans to build a sustainable village on the site, which already has outline planning permission. These plans will bring 805 new homes and a new primary school and are estimated to create over 1,000 new full-time jobs and boost the economy by more than £873m over a decade. At MIRA Technology Park plans have been approved for a £5m green infrastructure project linked to a Low Carbon Innovation Hub that will support tech companies as they develop low carbon technologies. Funding has been agreed to transform a building at MIRA Technology Park into a low carbon research centre, bringing with it transformational charging and testing 18 Á sq m, four-storey, fourth pavilion to expand SportPark, the multi award- winning development on the Loughborough University campus. A topping out ceremony recently took place for the scheme, which is being built to Passivhaus Classic Accreditation to significantly decrease CO2 emissions. Scheduled for completion at the end of the year, SportPark Pavilion 4 is the first Passivhaus development on the University campus and presents sports organisations with the unique opportunity to secure environmentally future-proof accommodation, tailored to their needs. It will enable occupants to reduce their carbon footprint thanks to Rula Developments’ new 190,000 sq ft warehouse unit at Junction 28 of the M1 motorway near Huthwaite 16-19.qxp_Layout 1 06/09/2022 10:21 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY infrastructure for electric and hydrogen vehicles. The investment will be made through a partnership between the Leicester and Leicestershire Enterprise Partnership (LLEP), Hinckley and Bosworth Borough Council (HBBC) and site owner MIRA Technology Park. The new Low Carbon Innovation Hub will involve the £2.5m refurbishment by HORIBA MIRA of the existing technology building, which fronts the A5. This will be supported by a £2.5m investment from the LLEP and HBBC in the installation of significant electrical vehicle (EV) and hydrogen infrastructure to aid safe testing and handling of EV and related systems at the Leicestershire Enterprise Zone site. The charging infrastructure will help engineers and scientists on the site to further research and development into battery development, hydrogen fuel cells and other low carbon and alternative fuel technologies. Finally, another green scheme recently getting the go-ahead is Rula Developments’ new 190,000 sq ft high specification warehouse unit at Junction 28 of the M1 motorway near Huthwaite in Nottinghamshire, which it will build speculatively. Detailed planning consent has been won for the proposed warehouse unit on the established Fulwood Industrial Estate and the development will be built with strong sustainability credentials, targeting BREEAM Excellent and an EPC A rating. The development has a target completion date of Q2, 2023. Representatives from Loughborough University, SportPark Pavilion 4 project team, Leicester and Leicestershire Enterprise Partnership and UK Anti-Doping at the topping out ceremony of SportPark Pavilion 4 Nottinghamshire County Council’s new, low-carbon office at Top Wighay Farm near Hucknall Artist impression of the developed MIRA Technology Park site, including the Low Carbon Innovation Hub facing on to the A5 16-19.qxp_Layout 1 06/09/2022 10:21 Page 3HIGHLY RECOMMENDED We may not be a big national law firm but our client satisfaction score is one of the highest in the UK! 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