< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Pet food brand acquired following £43m funding package Butcher’s Pet Care (Butcher’s), a family-owned pet food business based in Northamptonshire, has been acquired by Inspired Pet Nutrition (IPN), the independent pet food business owned by CapVest. The acquisition will include a refinancing of term debt provided by Blazehill Capital and working capital facilities provided by Secure Trust Bank Commercial Finance (STB). The business faced significant inflationary pressure in early 2022 as a result of the war in Ukraine and in parallel management were looking to deliver a strategic growth plan, which included a full brand refresh. To allow the business to withstand the market volatility and ensure the successful delivery of the business plan, Butcher’s sought to refinance their existing facilities with a more flexible funding package to provide the necessary financial breathing space. The optimal solution was a combined funding package from Blazehill Capital and STB, consisting of an STB working capital facility and a Blazehill Capital non-amortising term loan. Since securing the new facilities, the business has gone from strength to strength, culminating in a successful exit for shareholders to Inspired Pet Nutrition. AxFlow UK acquires Moody Direct AxFlow UK, a fluid handling solutions firm, has acquired Moody Direct, a long- established supplier of solutions and services to the dairy, food & beverage, brewery, chemical, and pharmaceutical sectors headquartered in Retford. Shorts’ Corporate Finance team were lead advisers to Moody Direct and Wake Smith Solicitors provided legal advice to the sellers. “We are thrilled to welcome Moody to the AxFlow family,” said Neil Langdown, Managing Director of AxFlow UK. “Their expertise in hygienic sales & servicing and reputation for best-in-class customer service will strengthen AxFlow’s existing position in the UK.” Andy Ryder of Shorts said: “We are delighted to have successfully concluded this transaction on behalf of the owners of Moody Direct, Ken and David. “It has been a pleasure for our team of myself, Adam Ames, Brian Gooch and Ahad Choudry to work with them on this international deal and we look forward to hearing of the continued success of this great business as it becomes part of the Swedish owned Axel Johnson AB Group, giving it access to further fantastic opportunities.” Midlands administrations outpace last year’s figures The number of companies in the Midlands filing for administration during the first nine months of the year has outpaced last year’s figures by more than 10%, according to Interpath Advisory, as industrial manufacturing, building & construction, and retail drive insolvencies. Analysis of notices in The Gazette shows there have been 126 administrations across the Midlands in the first nine months of 2024, representing a rise of 11.5% when compared to last year’s figures (Q1 – Q3 2023: 113). For Q3 2024, there were 45 administrations, a marginal decrease when compared to the same period last year. The region remained one of the prominent for administrations outside of London, accounting for more than one in ten cases in the country (12.4%). The most impacted sectors in the Midlands have been industrial manufacturing with 24 administrations, building & construction (20 administrations), and retail (13 administrations) between Q1 and Q3 2024. FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Nottingham textile business enters administration Nottingham-based wholesale textile business, GS UK Limited, has entered administration. GS UK Limited was established in 1988 and was acquired by its most recent owners in 2019. GS UK Ltd has provided garment decorating services to the UK textile industry for over 30 years, whilst supplying thread stock and equipment including embroidery machines, printers and laser cutters. Recently, the company has been lossmaking and was unable to find a buyer nor generate sufficient cashflow to meet future creditor obligations. Therefore, the company entered administration and immediately ceased to trade. GS UK Ltd employed a team of 10 staff – all roles at the business have now been made redundant. Quantuma director and Joint Administrator Richard Easterby said: “It is deeply regrettable that GS UK has been forced to cease trading, due to a series of challenging circumstances. “This was a sad ending for a long-established company. Our thanks go to all of the employees who worked hard during a difficult time and gave the company every chance to find a buyer. But unfortunately, it simply wasn’t to be.” Nottingham business messaging solutions firm expands with US acquisition Commify, the Nottingham-based business messaging solutions firm, has expanded in the US market with the acquisition of Tennessee-based Text Request. The acquisition is Commify’s 18th since 2013, its second in 2024 under ECI’s backing, and its second in the US market which it entered in 2022. Text Request, founded in 2014, is a software as a service (SaaS) platform that provides a plug and play texting service including conversational and customer engagement messaging solutions to small and medium sized businesses across the US. The business has scaled rapidly, growing at 60% per year from 2021 to 2024 to reach approaching $15 million ARR and $20 million total revenue, serving over 7,500 business customers. Richard Hanscott, CEO of Commify, said: “Text Request is highly complementary to our existing US business, doubles our scale to well over $30 million revenue and transforms our future position within this market. We can’t wait to get started with the team in Chattanooga to continue to grow together in the years to come.” © stock.adobe.com/Natee Meepian Nottingham-based data driven technology company secures £2.2m Maven has led a £2.2 million funding round in Nottingham-based data driven technology company, Connected Data. Connected Data, founded by former Experian and TDX executive Kirk Fletcher, was established to revolutionise the way debt is managed by organisations across various industries, including utilities, financial services, local government and debt management services. Since its inception in 2020, Connected Data has grown rapidly, with revenues increasing eightfold between 2022 and 2024. Kirk Fletcher, CEO at Connected Data, said: “Across all sectors, organisations are facing increased pressure on their debt management processes. Our unique approach, our data partnerships and our range of configurable data services has enabled the organisations we work with to truly transform their debt management process to become more effective without the need for significant capital investment or long extended delivery times. “This investment will enable us to further drive our transformation of the debt management process. We are hugely excited by the impact this will have on our customers, our data partners and, ultimately, consumers in debt.” © stock.adobe.com/PicDY © stock.adobe.com/beawolf © stock.adobe.com/AscannioTraining initiative launched to help manufacturers engage with young talent Funded training courses are being offered to Chesterfield’s manufacturing and engineering sector to support recruitment and growth. A new initiative – known as Manufacturing Futures – will teach mentoring skills to businesspeople from the sector to help firms engage with young talent. This programme will empower companies to offer more work experience opportunities, confidently take on apprentices and interns, and provide career advice to young people. The concept emerged at a Manufacturing and Engineering Forum organised by Destination Chesterfield which identified recruitment challenges in the sector. In fact, recent data indicates that 66% of businesses attempting to recruit in the past three months have struggled to find suitable candidates. With manufacturing comprising 8% of Chesterfield’s workforce — nearly double the national average — it’s crucial to inspire and equip the next generation with the skills needed to drive local manufacturing forward. Training sessions for new business mentors will be held in a dedicated learning space provided by United Cast Bar, with Chesterfield College hosting the sessions. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS Hydrogen power unit builder secures £22m for expansion plans Hydrogen power unit producer GeoPura, with hubs in Nottingham, Sheffield, Matlock, and Newcastle, has raised £22 million to accelerate its expansion plans. This announcement builds on momentum from a £56m investment round in February 2024 and a £36m Series A funding round in February 2023, welcoming investment from Siemens Energy, General Motors Ventures, Barclays Sustainable Impact Capital, Swen Capital Partners, and the UK Infrastructure Bank. This brings total capital raised to £114m over the last two years. Derek Bulmer, CFO of GeoPura, said: “Securing this debt funding is a pivotal milestone in our journey to build a global fleet of over 3,600 HPUs, which will require over £2.5 billion in capital over the next decade. “This funding will not only accelerate our expansion but also drive significant reductions in carbon emissions and improve local air quality while contributing directly to the UK’s net zero targets. Partnering with world-class debt funders like BNP Paribas Leasing Solutions, Close Brothers, HSBC UK and Siemens Financial Services is critical to delivering this vision and achieving these goals.” Burton dog treat manufacturer snapped up by Stockholm-based company Pet Treats Wholesale, a natural dog treat manufacturer based in Burton-upon-Trent, has been sold to Stockholm-based The Nutriment Company. Pet Treats Wholesale was launched in 2011 in response to a gap in the market to provide high-quality natural treats for dogs. Under the leadership of Dominic Jolivet and Louis Jolivet, the business produces more than 150 products and serves more than 2,000 retailers across the UK and Europe from its Burton-upon-Trent manufacturing facility. The sale to The Nutriment Company will enable Pet Treats Wholesale to accelerate its growth plans, access a broader range of customers, both in the UK and across mainland Europe, continue to scale its operations through investment in its manufacturing facilities, and enhance its product offering. For The Nutriment Company, the deal is the latest in a series of recent acquisitions and aligns with their strategy to continue building a premium, natural pet food business with a footprint across Europe Administrators appointed to Nottinghamshire manufacturer Nottinghamshire-based business Dale (Mansfield) Limited has fallen into administration. Dale was established in the early 1970s, initially offering engineering, manufacturing, design and subcontracting services to the deep mining industry. Following the decline of the UK mining industry, the company diversified its business into other industries including manufacturing hydraulic cylinders and supplying quality machined parts through to fabricated assemblies. It employed 34 members of staff. The company has now ceased to trade, with employees made redundant. Richard Pinder, Director, Restructuring and Insolvency, at Leonard Curtis, who alongside Sean Williams was appointed joint administrator of the business, said: “The company ran a marketing campaign last year to find a purchaser or investor to take the business forward which unfortunately was unsuccessful. “Upon my instruction to advise the company, it was clear that its financial and operational position was such that there was no realistic prospect of avoiding a cessation of trade and there was insufficient working capital or work in progress to support continued trade, even in the immediate short term.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS Derbyshire manufacturer swoops for Wrexham firm Derbyshire-based Prisma Colour, the independent Thermoplastic masterbatch manufacturer, has acquired Silvergate Plastics of Wrexham. By joining forces, Prisma Colour and Silvergate Plastics expand the capabilities that both organisations have but also enhance their ability to serve all customers and potential customers with a broader range of products and services with the same speed of response. Dominic Philpot, group MD, said: “Combining the expertise, market knowledge and processing skills of both organisations really does bring a massive benefit to our entire customer base. “There will be no disruption to any of our clients as we continue to operate both sites fully and maintain the excellent quality and great customer service that both entities have become well known for. This obviously means our employees will also be looked after and retained.” He added: “Joining forces with an already outstanding organisation like Silvergate, expanding and sharing human, financial and equipment resources can only provide greater opportunities to support customer developments with timely innovation for wider product offerings.” Lindab ordered to sell sites in Nottingham and Stoke-on-Trent after ventilation merger investigation Having carried out an in-depth Phase 2 merger inquiry, the Competition and Markets Authority (CMA) has ordered Lindab – a supplier of circular ducts and fittings used in ventilation systems in buildings – to sell two sites after finding its deal with HAS-Vent could lead to reduced choice and higher prices for installers of ventilation systems in both Nottingham and Stoke-on-Trent. The independent CMA group leading the inquiry scrutinised a wide range of evidence, including the parties’ internal documents and evidence from installers of ventilation systems and other suppliers of circular ducts and fittings. Based on this evidence, the group found that competition for these products occurs at a local level. Having assessed the impact of the deal in various local areas, and then consulted on its provisional findings published in August, the inquiry group has concluded the deal has resulted 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. To resolve the loss of competition, the CMA is requiring Lindab to sell one site in each of the impacted areas. © stock.adobe.com/Kritdanai © stock.adobe.com/TanyaJoy © stock.adobe.com/Freedomz © stock.adobe.com/annette shaffPROPERTY NEWS Final phase completes at Beauchamp Business Park Practical completion has been achieved on Phase Two of Beauchamp Business Park, a new commercial development in Kibworth, Leicestershire. The development has been delivered by Clowes Developments and its team including IMA Architects, TanRo, Millward Consulting Engineers, Gateley Legal and Postins Project Services. Phillips Sutton and TDB Real Estate have been the agents marketing the scheme. Beauchamp Business Park is situated on a 15-acre site located on the outskirts of Kibworth between Leicester and Market Harborough on the A6. The site features a series of freehold and leasehold industrial units ranging from 1,270 sq ft to 16,272 sq ft. Phase One, which completed back in July, saw over 80% sold before completion. This boosted Clowes’ decision to begin Phase Two. Kevin Webster, Associate Director at Clowes Developments, said: “Phase One has proven to be a great success with occupiers and investors and with deals already agreed for several of the units in Phase Two we are certain that popularity will continue. I now look forward to seeing it fully operational and a thriving business park over the coming months.” Planning submitted for 644,000 sq ft prime East Midlands logistics scheme Indurent, a developer and operator of industrial and logistics space, and PLP, the specialist industrial and logistics developer, have submitted a detailed planning application to North West Leicestershire District Council for the development of a Grade A 644,000 sq ft logistics facility. This prime East Midlands site spans 38 acres and is located immediately adjacent to Junction 24A of the M1 motorway providing direct access to 85% of the UK population within a 4-hour drive time, with Nottingham, Derby and Leicester conurbations nearby. Proximity to the East Midlands Gateway rail freight terminal and the East Midlands airport provide multi-modal logistics connectivity opportunities to the site. The proposed development, designed by Michael Sparks Associates, will be delivered speculatively and is targeted for completion in Q1 2026. The building has been carefully designed to meet the flexible needs of large-scale logistics and industrial occupiers, who face a national shortage of well-connected buildings in the 600,000 sq ft size range. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Inertia Consulting takes 7,000 sq ft at Derby’s Cardinal Square Nurton Development’s Cardinal Square offices in Derby has landed one of the stand-out deals of this year, with a 7,000 sq ft letting to locally-based Inertia Consulting. Inertia Consulting, a specialist in civil engineering and structural consultancy, has announced its move to the landmark offices located at the junction of the A61 and A52, to ensure its long-term success in the city. This relocation aligns with Inertia’s plans for strategic growth, providing an enhanced workspace that enables the company to continue to attract top tier talent, benefiting from Nurton’s on-going investment in the offices, particularly over the past 24 months. Inertia Consulting, which operates extensively across the UK, offers consultancy services in civil engineering, structural design, bridge inspection, and non- destructive testing to a broad range of clients, including the public and private sectors. Nurton has invested significantly in creating a high-quality working environment, catering to the needs of modern occupiers with a focus on onsite amenities and wellbeing including open green spaces, outdoor work, rest areas and leisure facilities. L-R: Daniel Mooney – Clowes Developments, Jack Brown – TDBRE, Sam Sutton – Phillips Sutton and Kevin Webster – Clowes Developments PROPERTY NEWS Housebuilder secures land for 114 homes in Market Deeping Housebuilder Allison Homes East has acquired land in the Lincolnshire town of Market Deeping, where a total of 114 new homes will be built. The site will be situated off Towngate East and split over two phases, totalling over 10 acres, and form part of Allison Homes East’s existing Beaufort Grange development, which sold out in 2022 in nine months. The new phases of the development, which will now be called Beaufort Gardens, will provide a total of 114 two, three and four bedroom homes. 74 will be available through open market sale and 40 will be affordable homes. Allison Homes East will also be providing in excess of £650,000 worth of S106 contributions, which will go towards supporting the existing community and education services. Construction work on the site is due to commence in January 2025, with the first homes expected to be complete in August 2025. Sophie Kendal, Land and Partnerships Director at Allison Homes East, said: “We are incredibly proud to have acquired this land in Market Deeping and to be returning to our successful Beaufort Grange development.” Housebuilder wins approval for 128 homes in Nanpantan William Davis Homes’ plans to build 128 new homes in Nanpantan have been approved. Charnwood Borough Council’s Plans Committee resolved to grant permission for the development to be built on land off Snells Nook Lane. The site has been allocated for housing in the emerging Charnwood Local Plan and was previously earmarked for development as part of the Loughborough University Science and Enterprise Park. As well as bringing new homes to help to meet local demand and national development targets, the new development will include 7.93 acres of public open space and green infrastructure. The public open space will cover more than 43 per cent of the overall development site and will include sustainable drainage features and a children’s play area. William Davis will build a mix of one to five-bedroom homes on the site, with 30 per cent – equivalent to 38 homes – to be made available as affordable housing. This will include a mix of homes for rent, shared ownership and for purchase through the First Homes scheme. Independent property company, Hortons, has secured planning consent for the redevelopment of a vacant warehouse unit in the UK’s logistics ‘golden triangle’. The project will deliver more than 200,000 sq ft of premium warehouse/logistics accommodation at Saxon Park off Saxon Way West, in Corby. Hortons will extensively redevelop a single existing building to create two new units, known as Saxon 79 and Saxon 129, which will comprise 78,500 sq ft and 129,300 sq ft respectively. The new units will include secure yard space, integral first floor offices and a power supply of up to 1 MVA, with the ability to increase capacity. Environmental sustainability lies at the heart of the refurbishment, with features such as LED lighting, PV roof panelling and EV charging stations. Both units will target an EPC A+ rating. Hortons acquired Saxon Park in 2023 and has since completed the comprehensive upgrade of Saxon 58, a 58,350 sq ft warehouse/logistics unit, which was pre-let to Russell & Bromley. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Hortons to deliver 200,000 sq ft industrial redevelopment in Corby East Midlands Business Link www.eastmidlandsbusinesslink.co.uk APSS Q&A What are the main principles of good office design? The brief Good office design begins with the quality of the brief. It is our task to listen and understand our client’s needs including culture, space, wellbeing of staff, productivity, environmental impact, compliance and budget. Office design often needs to be adaptable to meet the changing needs of the business and staff. Planning flexible spaces can save money when business needs change. We are in a fortunate position where we can see how a variety of businesses operate, and we can bring new ideas to the table. Culture / branding It is important to create an atmosphere that represents a business’s values. Incorporating branding, imagery, finishes, colour, furniture and products in the office can create a strong sense of identity and helps to inspire and motivate staff. distractions in open-plan offices. Ensuring employees can maintain a healthy work-life balance within the office environment is a growing focus. Space planning Open-plan office layouts remain a popular choice for businesses looking to create a collaborative and productive work environment. Positioning teams with common goals near each other adds real value as it allows individuals to understand the challenges being encountered across the business. We often install windows between an office and a warehouse to allow teams to see the work being done elsewhere in the business, providing a greater appreciation on both sides. Now offices frequently accommodate hybrid work setups, incorporating spaces for both individual focus and team collaboration. Comfortable seating, high tables, quiet zones, smaller meeting pods and phone booths all add value to your office space. Q&A Improving employee productivity Stuart Wall, Design Director at APSS, talks to East Midlands Business Link about “How good office design can improve employee productivity.” Wellbeing Focusing on creating spaces that promote well-being for staff is increasingly important to our clients. Including break-out areas, noise- dampening features like acoustic ceiling panels, slat walls or even plants can all improve concentration and reduce www.eastmidlandsbusinesslink.co.uk East Midlands Business Link APSS Q&A Environmental impact Sustainability has become a key driver for change across various sectors, and companies are increasingly committed to environmentally positive decisions when upgrading office spaces. Using sustainable materials, repurposing and recycling products, managing energy consumption, and waste management are all considerations. Budget Keeping a keen eye on cost is important as our aim is to deliver value for money without compromising on quality and durability. How can good office design influence employee productivity? One of the joys of working in this industry is seeing the positive impact on businesses and employees following an office upgrade. A carefully considered workspace design leads to a less stressful and more productive office. Providing elements which help make staff feel more at home (resi-mercial) or even in nature (biophilic) can have a positive impact on staff and improve general wellbeing. Simple things like natural light, well furniture and screening. Designs that incorporate acoustics and natural light are important trends. How is APSS adapting its services to meet the needs of modern office design? We are always looking for ways to use new technology and tend to be early adopters. We use all manner of hardware and systems across the business to increase productivity and buildability and save money. APSS continue to reduce the time through the design and build process to ensure our customers are operational in their new space quickly and can concentrate on their business. The next generation of staff will be more discerning with a different outlook on what it means to go to work. You only need to look at some of the spaces we have designed for universities which are setting the bar to meet graduates’ expectations of interior design. Spaces which have been designed to accommodate the varied needs of their staff and to empower them by helping them to collaborate and feel valued will be more commonplace in successful businesses in the future, and APSS is well placed to deliver these projects. For more information visit www.apss.co.uk, call on 01522 688771 or email Enquiries@apss.co.uk implemented acoustic design and comfortable furniture has been shown to improve concentration and focus. Designing in space for staff to take breaks can help them recharge and refocus. Creating a space for staff to gather, relax, and have fun at lunchtime (e.g. a games room) can boost morale and promote team bonding. Exercise helps to prevent depression and anxiety, boosts self-esteem, and improves concentration and wellbeing, providing a gym or just changing facilities can have massive benefits. What are the top office interior design trends for 2025 that you believe will have a positive impact on productivity? The benefits of collaboration in the workplace are invaluable, and businesses which recognise this and incorporate social spaces to allow staff to better communicate will become more commonplace. Break-out spaces such as coffee bars and stylish booths for impromptu meetings or social interactions are becoming a key design consideration. Flexible workspaces are a key trend including hot desks, sliding walls, moveable SCAN ME! East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Major progress Progress is being made across the East Midlands on significant redevelopment and regeneration projects. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY R edevelopment and regeneration projects are speeding ahead throughout our region, with the last month making for myriad milestones. In Northampton, the regeneration of Greyfriars has taken a key step forward with West Northamptonshire Council selecting national placemaker, ECF – a joint venture between Legal & General, Homes England, and Muse – to deliver the scheme. The agreement enables the partnership to explore and shape planning, delivery, and funding for the largest brownfield regeneration opportunity within West Northamptonshire. Once established, the proposal would be subject to further approvals from ECF and the Council, expected to be in summer 2025. Greyfriars includes the former Greyfriars Bus Station, demolished in 2015, as well as the Mayorhold and Victoria Street Car Parks, Corn Exchange, Belgrave House, and East and West Island totalling over 14 acres. The vision, developed by West Northamptonshire Council and Studio Egret West with support from Homes England, aims to re-imagine several derelict buildings with new uses. The Corn Exchange could become an arts and culture hub, whilst Belgrave House provides opportunities for an innovative workplace and business incubator. The regeneration could also involve a new outdoor amphitheatre to anchor landmark new public spaces, and new homes would support a new neighbourhood, alongside shops, cafes, and restaurants as part of a dynamic new place. Sir Michael Lyons, chair at ECF, said: “West Northamptonshire Council has developed an ambitious and exciting vision for Greyfriars, as part of a bold approach to the wider regeneration of Northampton town centre. Working in partnership with the local authority, ECF will support the development of a delivery model which aligns with the Greyfriars vision and supports long-term regeneration. Greyfriars has the potential to drive significant social and economic value and working together we can unlock the opportunity.” Meanwhile, in Derby, Wavensmere Homes and Wilson Bowden Developments’ £30m proposals for the redevelopment of one of the final plots of vacant land within the city’s newly revitalised Cathedral Quarter have been approved. 195 studio, one- and two- bedroom apartments will be delivered at the Full Street site, within a u-shaped, nine-storey, red brick building. Designed by Franklin Ellis Architects, the CGI of Wavensmere Homes’ Full Street scheme 20 ÁNext >