< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Loughborough-based insurance brokers snapped up Insurance intermediary, Specialist Risk Group (SRG), has acquired Loughborough- based Anthony James Insurance Brokers, subject to regulatory approval. This latest acquisition further expands and strengthens SRG’s retail pillar, Specialist Risk Insurance Solutions (SRIS). Founded in 2009, Anthony James Insurance Brokers has built a strong reputation for providing comprehensive insurance services for businesses across the UK. Its expertise spans a wide range of sectors including commercial, corporate, and high- net worth personal lines, making Anthony James a valuable addition to SRG’s existing portfolio. Chairman and founder, Steve Boorman, and Managing Director, Jacob Duckworth, will continue to lead the business, aiming to accelerate growth both organically and through acquisitions. Their team of 50 staff will also transition to SRG, maintaining operations from the Loughborough and Nottingham offices as they establish and strengthen SRG’s presence in the East Midlands. Anthony James becomes SRG’s fifth acquisition since it announced its new investment partners, Warburg Pincus and Temasek, in May this year. Nottingham pet specialists’ retail division sold Private equity firm Endless LLP has announced the sale of Kennelpak’s retail business, Pets & Friends, to family-owned PSR Trading Ltd (PSR), owner of retail chain Just for Pets. This strategic move allows Kennelpak, the pet specialist wholesaler, brand owner and distributor, to accelerate the growth of its Wholesale & Distribution division. Following initial investment in July 2017, Endless has supported the Kennelpak management team in transforming Pets & Friends into a successful service-led retail proposition offering pet parents an array of pet care services underpinned with a carefully curated range of products and accessories, to satisfy all pet needs. Pets & Friends includes 19 stores, 17 grooming salons, a website and subscriptions service, a dog training centre and The Grooming Academy with locations predominantly across Nottinghamshire and Derbyshire. Pets & Friends will continue under its existing trading name, operating alongside Just for Pets. All Pets & Friends store and salon colleagues will transfer to PSR ensuring that the expertise that Pets & Friends stands for remains. Private equity investment in the Midlands rebounds in first half of 2024 Mid-market private equity investment activity in the Midlands rose slightly in the first half of 2024, despite persisting challenging macroeconomic conditions, according to KPMG UK’s latest Mid-Market Private Equity analysis. The firm’s most recent M&A study revealed that 33 mid-market transactions were completed during the first six months of the year, representing a rise of 17% when compared to 28 transactions completed during the same period in 2023. However, investment values dipped by 21% to £1.9 billion when compared to £2.3 billion invested during the first half of 2023. Nationally, mid-market private equity investment activity in the UK declined by 11%, with 321 mid-market transactions completed in the first half of 2024, compared with 360 transactions in the same period in 2023. Against pre-pandemic M&A activity (H1 2019), 2024’s figure reflects an increase in activity of 17%, suggesting the market has begun to normalise. UK companies continued to remain attractive to international buyers, with inbound deals accounting for 42% of all M&A activity during the first half of 2024 – and almost half of those buyers were US-based. © stock.adobe.com/FreedomzFINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Jobs saved after sale secured for Nottingham vehicle recovery and repair company All remaining jobs were saved at a vehicle breakdown and repair company, Nottingham Breakdown Service Ltd, following a pre-packaged sale of the company’s business and assets, after the company entered administration on 1 August 2024. Dean Nelson and Nick Lee (Business Recovery & Restructuring partners at PKF Smith Cooper) were appointed as joint administrators of the company. The sale of the company ensured that all nine remaining jobs were saved, as well as the business assets and its ongoing customer contracts. The business was therefore able to keep hold of all current customers and can continue to service its contracts going forward. With over 40 years’ experience in the industry, the business provides 24/7 breakdown recovery services and garage services, including repairs and servicing, to vehicle owners across the United Kingdom. The company’s issues arose as a result of the rising costs of overhead inflation, including increasing fuel costs, which put pressure on the company’s cash flow and working capital requirements. Nottingham financial advice firm makes acquisition to grow south coast presence Nottingham financial advice firm, Wren Sterling has completed the acquisition of the In Focus Group. The deal is Wren Sterling’s third deal of 2024 following the acquisition of TW Financial and the Howe Maxted Group in March and July respectively. The In Focus Group is led by Managing Director Nick Stewart and is comprised of two other companies previously acquired by In Focus; Certus and Hughes Carne. Nine advisers and ten support team members will transfer to the Wren Sterling Group. Wren Sterling’s Chief Executive, James Twining said: “Nick and his team have built a business through careful acquisition but also high levels of entrepreneurialism, which aligns with our strategy to give our advisers the freedom to grow their business. “As well as drive growth, acquisitions such as this enable us to bring highly talented people into our business who bring a range of expertise, experience and insights that we and our clients can benefit from.” © stock.adobe.com/Funtap Nottingham climate tech company raises £8m A climate tech company that produces advanced materials for carbon capture and other uses has closed an £8m financing round. The investment was led by Mercia Ventures and Aramco Ventures, with participation from existing investors including the Midlands Engine Investment Fund I (Equity Finance fund, managed by Foresight), the University of Nottingham, TSP Ventures, and the East Midlands Early Growth Fund (managed by the British Business Bank). Promethean Particles is a chemical manufacturing company specialising in metal-organic frameworks (MOFs), spun out from the University of Nottingham. The new investment will enable the Nottingham-based company to build a scaled-up manufacturing facility, expand the team, and implement further projects that demonstrate the potential of MOFs in energy transition applications. Dr Marina Fuentes, investment manager at Mercia Ventures, said: “Promethean Particles is uniquely positioned to capitalise on the fast-growing MOF market through their innovative manufacturing reactor technology, which addresses the bottlenecks of cost and scalability. “We are thrilled to support a highly capable team and a cutting-edge technology that has been developed over 15 years and is now ripe for commercialisation at scale.” © stock.adobe.com/wutzkoh Dean Nelson Council support helps manufacturer secure £3m contract Expert business advice from Blaby District Council has helped a Glen Parva firm secure a new £3 million contract. Business growth officer Alfred Bawak assisted bosses at Summit Engineering in obtaining financial support from the University of Derby. The £200,000 in loan and grant funding meant Summit was able to commit to buying the specialist new equipment to deliver the contract, making parts for a Leicester-based division of a global construction equipment supplier. The firm plans to invest £850,000 in a top-of the range robot welder, a hi-tech lathe and robotic stacking and loading system, an advanced vertical milling machine plus other ancillary machinery and tooling over the next two years. Manufacture will ramp up in stages with six existing jobs safeguarded and 10 new roles created. The investment also means the company can streamline and speed up processes, turning out parts in just three minutes when it used to take 15. This will enable them to exploit previously untapped markets and quote competitively for major new work. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS Alstom’s Derby facility to refurbish CrossCountry fleet in £60m upgrade Alstom has signed a contract to refurbish CrossCountry’s Voyager trains, transforming the on-board experience for customers. The contract, valued at around £60 million, will see the trains receive an interior refresh – including new seats and tables – while their exteriors will be repainted in CrossCountry’s new livery. The work will be carried out at Alstom’s historic Derby Litchurch Lane facility and encompasses 312 cars. Additional enhancements will see the trains fitted with new carpets, improved lighting and a new passenger counting system. Sustainability will be at the heart of the refurbishment; the Voyager’s new seats will be at least 95% recyclable and 98% recoverable, while lighter materials used throughout the trains will help reduce fuel and carbon emissions. Design work will commence immediately, with physical work in Derby set to commence from next year until 2027. Around 100 Alstom staff will work on the contract, supported by many more in the company’s UK supply chain. Administrators appointed to Midlands engineering business New Engineering, an engineering business which operates sites in Worcester, Derby and Kidderminster, with around 120 employees across the three sites, has entered administration. The company was formed in March 2023 following the acquisition out of administration of the business and assets of Neos Superform Limited and Neos Composite Solutions Limited. Mike Denny and Mark Firmin of professional services firm Alvarez & Marsal Europe were appointed as joint administrators of New Engineering in August. Mike Denny, joint administrator, said: “New Engineering has been experiencing significant cash pressures in recent months, exacerbated by project delays, cost inflation and limited availability of trade credit. “As joint administrators, our priority is to explore all the available options for the business at pace, and we encourage any interested parties to contact us as soon as possible.” Image courtesy of CrossCountry Image courtesy of Blaby District Council CrossCountry Voyager New Livery Visualisation£30m Automated Distribution and Manufacturing Centre gets go-ahead Ashfield District Council’s Planning Committee has given the green light to plans for a world-class distribution and manufacturing skills centre in Ashfield. The Automated Distribution and Manufacturing Centre (ADMC) is the Council’s flagship project from their £62.6 million Towns Deal. The plans for the ADMC, which will sit on Lowmoor Road, Kirkby, have ambitions to ignite the adoption of automation and advanced manufacturing in business across the region. This will drive productivity and bring more high skilled jobs to Ashfield. The centre will work with businesses on how technology can help them, enable them to test how things could work within their own business and train their staff on how to use and maintain automated systems. The broader site will be a £100 million+ technology park development attracting inward investment and creating higher economic growth opportunities for the residents of Ashfield. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS Competition and Markets Authority highlights competition concerns in ventilation company deal A Phase 2 review by the Competition and Markets Authority (CMA) has provisionally found competition concerns in ventilation company Lindab’s purchase of HAS-Vent, in the local areas around Nottingham and Stoke-on-Trent. The CMA has been carrying out an in-depth Phase 2 inquiry into the deal after identifying competition concerns during its initial Phase 1 inquiry. The independent CMA group leading the Phase 2 inquiry has probed in more detail the impact of the deal on the supply of circular ducts and fittings in England and Wales. The group has provisionally found that the deal has resulted, or may be expected to result, in a substantial lessening of competition in the supply of circular ducts and fittings in the local areas centred around Nottingham and Stoke-on-Trent. In these areas the parties are close competitors and face only limited competition from alternative suppliers. This could lead to reduced choice and higher prices in the construction sector, particularly for specialist installers of ventilation systems in those areas. The CMA is welcoming responses to its provisional findings from those interested in the deal by Thursday 12 September. Nottinghamshire engineering group acquires Italian business Langley Holdings, the engineering and industrial manufacturing group, has acquired GKN Hydrogen from Dowlais Group. Based in Northern Italy, GKN Hydrogen specialises in providing all-in-one clean hydrogen energy management systems and solutions to help achieve net zero emissions targets by generating green hydrogen from renewable energy sources and storing it compactly and loss-free in metal hydride. Nottinghamshire-headquartered Langley Holdings was established in 1975 by the current chairman and CEO, Tony Langley. The Group operates in three principal areas: Power Solutions, Print Technologies and Other Industrials. Its 18 manufacturing facilities spanning Europe, the UK, and the USA are supported by a global network of more than 100 sales and service subsidiaries and a workforce of over 5,000 people. GKN Hydrogen will be a critical part of the Group’s Power Solutions division, which comprises Norwegian-based Bergen Engines, Italian Marelli Motori, and Piller Group, Europe’s leading producer of critical power conditioning, stabilisation, and backup systems based in Germany. In 2024, the Power Solutions Division will account for approximately half of the Group’s $1.5bn revenues. Image courtesy of Ashfield District Council © stock.adobe.com/DG PhotoStock © stock.adobe.com/Aleks Kend © stock.adobe.com/MIND AND IPROPERTY NEWS Construction company reappointed to deliver £4.4m speculative industrial and warehouse units at strategic development site Construction company Glencar has been reappointed by Verdant Regeneration to develop two new units totalling 31,350 sq ft at their 200- acre strategic industrial/warehouse development site at Ilkeston in Derbyshire. The appointment follows shortly after the completion of Unit 1, a new 20,400 sq ft build to suit regional hub development constructed for DX Group. Designed by architectural practice Stephen George Partnerships, PC is expected in the spring of 2025. Speaking about the project Pete Goodman, Managing Director – UK Midlands, North and Ireland, said: “Repeat business is the best business and after a successful negotiation we are once again delighted to be back onsite at New Stanton Park so soon after completing DX’s impressive new regional sortation Hub. “This development is a significant strategically located site in the Midlands adjacent to the M1 – ideally situated for the road and rail networks of the UK. It is therefore unsurprising that the development has already received major interest from numerous international, national and regional occupiers.” GLP selects Winvic to deliver 761,000 sq ft Lutterworth industrial facility Winvic Construction Ltd has been selected by GLP to construct MPN 761 at Magna Park in Lutterworth. The Winvic GLP partnership is a first and the industrial facility totalling 761,000 sq ft is the largest speculative unit that the developer has brought forward to date. The project will see the main contractor reach a significant milestone in its 23-year history of constructing industrial facilities; MPN 761 located on Magna Park North marks Winvic’s construction of 100 million sq ft of industrial space. MPN 761 will be the sixty-fourth industrial building that Winvic has been contracted to deliver with Net Zero Carbon requirements and it is set to achieve a BREEAM Outstanding rating and EPC A. The sustainable first-in-class design means it is 100% PV ready and WELL Building Standard compliant. The building, with an 18-metre clear height to haunch, comprises a 716,662 sq ft warehouse, an 8,202 sq ft undercroft warehouse, a 1,615 sq ft plant deck and 34,667 sq ft space across a three-storey office and two transport offices; Winvic will fit out the offices to Cat A standards. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk 60 new homes set for Anstey following site acquisition A housebuilder has acquired a site in the village of Anstey, Leicestershire, that is set to make way for 60 new homes. The development in Anstey will be situated on Gynsill Lane and span approximately five acres. A total of 60 two, three, four and five bedroom homes will be provided by Allison Homes East Midlands, 18 of which will be affordable homes available through Rent and Shared Ownership. The housebuilder will also be enhancing the environment and encouraging nature to thrive by retaining all water features on the site, providing an additional wet attenuation basin and planting wildflower seeds to increase the development’s biodiversity. Subject to planning consent, construction work is due to commence on the site in early spring 2025 and it is expected that the development will be complete in late 2026. Alongside building new homes, Allison Homes East Midlands will be supporting the local community by providing financial contributions as part of the agreed S106 obligations for the development. PROPERTY NEWS Derby retail unit sold for £1.3 million Midlands property agency Bond Wolfe has secured the £1.3 million sale of a unit on Derby’s Southgate Retail Park to Connect Derby Properties Ltd. The modern retail unit has The Gym Group as its long-term tenant on a reversionary lease until 20 March 2031. As a result, the 11,643 sq ft purpose-built unit is currently generating a passing rent of £97,344 per annum exclusive, representing a low £8.36 per square foot. The Gym Group has leased the unit since 2011. Southgate comprises 48,000 sq ft of retail space, anchored by a Lidl store. Clark Brookes Turner Cary Solicitors in West Bromwich acted for the seller and Elliot Matther in Derby advised Connect Derby Properties Ltd. James Mattin, managing director agency at Bond Wolfe, said: “We are pleased to announce the sale of this key retail investment on Southgate retail Park. “The property went under offer very quickly after being released to the market, which demonstrates further evidence of the demand for these types of assets from the private investor market. “We are shortly releasing a number of similar opportunities in the area and would be pleased to discuss specific requirements from investors looking for opportunities.” Land sold for bungalow scheme in Coalville Mather Jamie, a specialist land development and property consultancy, has negotiated the sale of land in Coalville for a single-storey housing project. Acting on behalf of a private landowner, Mather Jamie sought developer interest for a prime development site in Coalville. The site, which has full planning permission for 24 single-storey dwellings with garages and associated off-street parking and infrastructure, spans 2.67 acres. It is strategically located to the south of Coalville, within the civil parish of Hugglescote and Donnington le Heath. Broadmead LLP has acquired the land with plans to deliver the approved bungalow scheme. Chris Milne from Broadmead LLP said: “We’re committed to providing the homes people want, where they’re needed most. This opportunity allows us to build much-needed housing in this part of Leicestershire and look forward to the next stage of this process and seeing our plans become a reality.” Adlington Retirement Living, which designs, builds and operates Independent Retirement Communities, has submitted planning to build 96 new apartments on the site of the former Mary Gee Halls of Residence, in Leicester. The proposed retirement community will comprise one, two and three- bedroom apartments for the over 60’s, in a safe and secure environment, with the benefit of patios or walk-out balconies to all apartments. Dr Ed Gladman, Chief Executive of Adlington Retirement Living, said: “Our vision is to empower the older generation to live a long, happy and healthy life. We do this by creating quality retirement communities in safe and secure environments and providing our homeowners with stimulating activities, extensive communal facilities and beautiful private gardens. “There’s an urgent need to address the shortage of appropriate housing for older people and integrated retirement communities (IRCs) are a very undersupplied part of the market. An Adlington Retirement Living community provides genuinely lifechanging homes for those individuals who move in.” The site on Ratcliffe Road has been vacant since it closed in 2018. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Plans submitted for new retirement community in Leicester Artist impression of landscaped entrance of the proposed Adlington Retirement Living community in Knighton, Leicester East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY T hroughout the East Midlands, myriad significant development projects are making major progress, from schemes marking their groundbreakings to celebrating their completions. In Derby, for instance, Wavensmere Homes recently commenced construction on the final phase of its £175m Derbyshire Royal Infirmary redevelopment. Located on London Road, Nightingale Quarter’s final apartment block has a value of £20m and will deliver over 100 new homes to Derby city centre. The 18.5-acre project incorporates a total of 125 family houses and 800 apartments, together with a range of community amenities. The Florence Nightingale-designed former hospital had lain derelict for a decade prior to Wavensmere Homes’ acquisition and start on site in 2019. The groundworks associated with the final block commenced in April, with installation of the steel frame beginning last month. Produced off- site, Hadley Group’s structural panellised system utilises modern methods of construction and will result in less waste needing to be removed from site, whilst also minimising any potential adverse weather delays. The final ‘E6’ block will feature solar PV roof panels, with battery storage, to enable the green energy generated on site to be captured and used to power a proportion of the building’s electricity use. 7kW EV chargers and rapid charge bays will also be incorporated into the new development, allowing future residents of the 79 one-bed and 24 two-bedroom apartments to minimise their carbon footprint. The five-storey, red brick building is due for completion and occupation in late 2025. Craig Gee, construction director for Wavensmere Homes, said: “The Nightingale Quarter remediation, restoration, and construction programme commenced in late 2019 and within six years, we will have proudly delivered this £175m project in its entirety. The conclusion of the groundworks and start of construction for the final block of 103 homes is yet another milestone. Utilising an element of MMC enhances our eco-credentials and provides more certainty to the 16-month build programme. This new £20m building will create and safeguard around 100 construction jobs and continue to provide a significant boost to Derby’s economy and housing needs. By working alongside stakeholders and residents during this final construction phase, the entire team will be focused on the conclusion of an outstanding new community and delivering a highly sustainable legacy.” Meanwhile, in Nottingham, construction has completed at Winfield Court, the latest phase of The Island Quarter. The 693-bed student accommodation phase will open in September for the 2024/25 academic year. Fresh will manage the student scheme on behalf of The Conygar Investment Company, following the conclusion of construction work by Bowmer+Kirkland and dressing by Leonard Design Architects. Amenities for students in the new facility include high-level sky lounges that offer projected views across the city and private courtyard spaces that will provide the opportunity for working, socialising, dining and exercising. Christopher Ware, property director at The Island Quarter, said: “With Nottingham home to two outstanding universities attracting students both nationally and internationally, Winfield Court will be Starts and completions Work on a plethora of significant developments is getting underway and completing across the East Midlands. Here, Business Link reflects on some of the most recent milestones. 18 Áwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link L-R: Craig Gee, construction director for Wavensmere Homes, with colleague Dave Hyett, project manager, as the final phase of Derby’s Nightingale Quarter development gets underway Winfield Court at The Island Quarter East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY a thriving student community with high- quality housing while they study in the city. This phase is an example of the highest quality student accommodation available and will be an excellent addition to The Island Quarter with plenty of entertainment, relaxation and future employment opportunities for them.” Following a planning submission in February for a further 383-space student block built on the Manvers Road side of the 36-acre site, The Island Quarter could eventually be home to more than 1,000 students. Additionally reaching completion to the benefit of students in Nottingham is the newly built small animal clinical teaching building at the University of Nottingham’s Sutton Bonington Campus, allowing the university to double its intake for related courses. Called the Sir Peter Rubin Centre for Veterinary Education, the detached single storey facility has been designed by architecture practice CPMG. The £3m scheme showcases standout elements including glulam framing to support the university’s net zero carbon strategy – keeping embodied carbon to a minimum through the choice of engineered wood beams. In a bid to support the university’s aim of bridging the skills gap currently facing the veterinary industry, the facility includes a full practice, space for general teaching, along with spaces for both small animals and larger livestock. Alongside CPMG, the project team included main contractor RG Carter, structural and MEP engineers Arup and landscape architects, Ares Landscape Architects. Finally, contractor Henry Brothers Construction and Derbyshire Community Health Services NHS Foundation Trust have held a turf-cutting ceremony to mark the beginning of work getting underway on site for a new Belper health centre. Marking a key stage in the development of the new £15m hub for community health services in the Derbyshire town, Trust Chief Executive Tracy Allen carried out the honours and said: “Back in 2017 we first started talking publicly about the need for new community health facilities for Belper and it’s been a long and eventful seven years to reach this point, involving several changes of plan and a pandemic which put everything on hold. So, to be able to put the first ceremonial spade in the ground to start construction is a really fantastic moment. It’s a tribute to the many people who have helped us reach this point. I can’t wait to see the architect’s plans come off the page as the building takes shape and becomes a purpose-designed environment for local people to receive a range of community health services for years to come.” The modern facilities – designed to have high environmental credentials to ensure long- term sustainability – are being built on the site of the former Belper Clinic, as part of the Babington Hospital site on Derby Road, Belper. The health hub will feature 15 consulting rooms, six treatment rooms, a health education group room and other facilities, and will provide a range of services including community nursing, midwifery clinics, podiatry services, speech and language therapy, physiotherapy, continence advisory service, wound care and phlebotomy. Designed by architects Race Cottam Associates, it will accommodate all existing outpatient and clinical services provided at Babington Hospital. Other members of the construction team alongside Henry Brothers include project manager Capita, civil and structural engineer Eastwood Consulting Engineers, and mechanical and electrical engineers EP Consulting. The Sir Peter Rubin Centre for Veterinary Education Armstrong house Armstrong House, Armstrong Street, Grimsby, North East Lincolnshire DN31 2QE Tel: (01472) 310301 Email: s.fisher@blmgroup.co.uk Superb Location - - Close to the ports of Grimsby & Immingham - Great motorway links - Close to the town centre Secure off street parking High speed internet availability A range of affordable office sizes 3 3 3 3 Last remaining office suites Prime location in Grimsby Offering a prime position in Grimsby, Armstrong House on Armstrong Street is ideally located. Close to the ports of Grimsby and Immingham, motorway links and the town centre, off-street parking is also available for all staff and visitors, meaning it’s convenient too. Our spacious, welcoming offices are located on the ground floor and are both secure and CCTV-monitored, giving you the ultimate peace of mind. At Armstrong House, when it comes to affordability and with a range of office sizes there are opportunities for all types of business. If you require virtual office services, prices start from just £15 per month. For more information, or to discuss your office requirements call 01472 310301.Next >