Leicestershire energy solutions company snaps up energy management division
eEnergy, the net zero digital energy services provider, has entered into an agreement to sell the company’s wholly owned energy management division to Leicestershire’s Flogas Britain.
The deal involves an initial consideration of £29.1 million and additional contingent consideration based on the trading performance of the energy management division for the period to 30 September 2025.
Harvey Sinclair, eEnergy CEO, says: “I am pleased to announce this agreement to sell our energy management division to Flogas. Once approved by shareholders, the transaction will unlock significant immediate cash for eEnergy and give the opportunity to deliver significant additional value to shareholders through the earnout period.
“Whilst energy management is the smaller by revenue of our two divisions, the initial transaction proceeds alone will be c. 90% of eEnergy’s current market capitalisation.
“The sale of the energy management division will allow us to focus entirely on our similar sized, high growth energy services division which grew 87% in the past 12 month period despite being undercapitalised.
“The sale will simplify our business, strengthen our balance sheet and will bring the opportunity to invest further in the higher growth segments of solar and EV charging across the UK.
“I would like to thank our colleagues in the energy management division. They will have an excellent new owner in Flogas who is in an ideal position to take the business forward.”
Ivan Trevor, Managing Director, Flogas Britain, says: “Together with Certas and the recent acquisitions of Protech, Centreco and DTGen, this acquisition further expands our capability in energy management services, providing a comprehensive range of products and services to partner with our customers on their journey to Net Zero and supporting our ambition to halve the carbon emissions of the energy we supply by 2030.”
Planning granted for £20.35m residential scheme in Matlock
Housebuilder Honey will build 75 new one-, two-, three-, four- and five-bedroom homes in Matlock after being granted planning permission for a £20.35m development.
Called Hazel, the development is located opposite Matlock Golf Club on Chesterfield Road and will comprise maisonettes, terraces, semi-detached and detached properties.
The development is Honey’s second in Derbyshire, its first being a £14m, 50-new home development called Amber in South Normanton, near Alfreton.
Work on site at Hazel is scheduled to start in spring with the first residents expected to move into their new homes by the end of this year.
As well as providing new homes for the area, Honey is also making a £670,000 contribution to initiatives that will benefit the local community.
Honey Chief Executive Officer, Mark Mitchell, said: “Hazel generated a great deal of interest from prospective buyers from the moment we announced plans had been submitted.
“Our development will provide much needed new homes for people living in and around Matlock whether they are first time buyers, second steppers, families or downsizers.”
Since the start of the year Honey has secured three further sites across the East Midlands. The housebuilder has exchanged contracts on a site in Duckmanton and acquired sites in Edwinstowe and Killamarsh.
Subject to planning, these three sites will deliver 563 new homes with a combined gross development value of £170m.
YMCA Derbyshire encourages businesses to sleep out for one night, so other people don’t have to
YMCA Derbyshire is calling on businesses across the city and county to come together and spend a night sleeping under the stars to support local people most in need.
YMCA Derbyshire is one of several YMCAs across the country that have joined forces to raise awareness of homelessness during the national YMCA Sleep Easy Week, running from 8 to 15 March.
The week will see participants sleep out for one night across England and Wales to raise
awareness of homelessness and vital funds to support those who find themselves at risk of
homelessness.
YMCA Derbyshire’s event will take place at the Incora County Ground home of Derbyshire County Cricket Club on Friday 8 March 2024. Registration costs £10 for those in full-time employment and £5 for all others.
Each year the event brings together upwards of 100 participants who challenge themselves to sleep out for one night, so others don’t have to. Last year’s event raised just under £30,000 and these funds were directed to YMCA Derbyshire’s changing lives fund.
This fund enabled the charity to provide a whole host of youth and community provision to enable those they support to move along their positive pathways.
Over the twelve months YMCA housed 272 individuals with 88 moving on to independent living, 61 entering formal education, 7 going to university, 74 attending a job interview and 59 gaining employment.
This year’s event will raise vital funds to continue and expand the work that YMCA do, including their new service Padley@YMCA Derbyshire which has been born from a merger of Padley Group into YMCA Derbyshire in July 2023.
Funds raised will enable YMCA to provide vital youth and community provision including
therapeutic counselling, activities at Wilmorton community allotments, physical sports sessions, support entering work-based programmes and volunteering opportunities.
Padley@YMCA Derbyshire will be moving to a new Community Hub, here they will continue to offer and grow their traditional services for individuals; warm meals, activities to combat
loneliness and isolation, shower facilities and community pantry but will also develop their
provision to meet the evolving need of the city.
New services will enable members of the community who are unable to access food provision to have a place to use community kitchens to cook their own food for their families, have access to a laundrette alongside opportunities to learn through training and education and volunteering opportunities.
Gillian Sewell, CEO of YMCA Derbyshire, said: “We are extremely grateful to every individual, family and business that gets behind our Sleep Easy events, either through participating or sponsors others to do so, its truly down to the funds raised at events such as this that we can achieve such positive outcomes for the people we serve.
“With the emerging cost of living crisis we are seeing a significant increase in those experiencing poverty and or at risk of homelessness we are hoping to make Sleep Easy 2024 our biggest event yet, but we need your help.
“We urge individuals, families and businesses to come together and spend one night sleeping out so others don’t have to. We often say it’s the most unusual networking event you’ll attend all year. One night really can make a life time difference to those who need it most.”
People interested in taking part in YMCA Derbyshire’s Sleep Easy can find out more by visiting www.ymcaderbyshire.org.uk/sleepeasy or by calling 01332 579550 to speak with the fundraising team.
East Midlands levelled down since 2010 with people £6,840 poorer on average
The average person in the East Midlands has missed out on £6,840 in disposable income when compared with predictions based on 2010 trends, according to new analysis published by Centre for Cities in Cities Outlook 2024.
While jobs increased, weak productivity growth meant that growth of disposable incomes was underwhelming. Total disposable income per head in Mansfield since 2010 was £13,490 lower than it would have been if it had grown in line with 1998-2010 trends, while in Leicester and Nottingham the figures were £7,980 and £3,000 respectively.
Both Derby and Northampton bucked the national trend, with residents being better off than they would have been if incomes had grown at pre-2010 rates. But this was because of poor growth pre-2010, rather than a strong performance post 2010.
This national underperformance is reflected in every place in the country, in both places that have struggled with decline and departure of local industries and places with more dynamic local economies. At a national level, people have been left with £10,200 less to spend or save on average since 2010 than if the economy had grown at pre-2010 trends.
Looking at the data from every place reveals more about the stagnation of disposable incomes:
- Jobs boomed in most towns and cities after 2010, pulling more people into work. Overall, the East Midlands added 232,114 jobs since 2010. Derby and Mansfield had jobs growth of more than 15 per cent.
- But productivity growth – a key driver of wages – declined almost everywhere too. Productivity growth lagged pre-2010 performance in all cities in the East Midlands. Derby and Mansfield were less productive in 2021 than in 2010. Major places Northampton and Leicester struggled, hitting local incomes.
- Housing costs have increased in most places. High housing costs have left the average person with even less income left over to spend or save at the end of the month. Housing became less affordable in every large city and town in the East Midlands.
- The nature and prevalence of poverty has changed. Rates of children in relative poverty have risen in every city and Derby and Leicester are now two of six places in the country where more than one in three children live in households in relative poverty – as recently as 2014, there were none nationwide.
The most crucial factors to remember when choosing a solar partner and installer
Solar power has emerged as a leading contender in our seemingly never-ending quest for sustainable and eco-friendly energy solutions. As individuals and businesses alike increasingly think about harnessing the sun’s energy to power their homes and facilities, choosing the right solar partner and installer becomes paramount. The decision involves carefully considering various factors to ensure a seamless transition to clean energy. Here are the most crucial factors to remember when selecting a solar partner and installer in the East Midlands today.
1. Expertise and experience: Choosing a solar partner with a proven track record and extensive experience is fundamental. Look for a trusted commercial solar company that has successfully completed many solar installations. An experienced installer will be well-versed in navigating local regulations, obtaining necessary permits, and handling potential challenges that may arise during the installation process.
2. Reputation and reviews: Word of mouth is a powerful tool when it comes to selecting a solar partner. Research the reputation of potential installers by reading customer reviews and testimonials. Platforms like Google Reviews can provide valuable insights into the experiences of previous clients. A company with a positive reputation will likely prioritise customer satisfaction and deliver high-quality services.
3. Licensing and certification: Ensure the solar partner and installer you choose is licensed and certified. Licensing ensures that the company complies with local regulations and standards, while certification from recognised bodies demonstrates a commitment to excellence and adherence to industry best practices.
4. Quality of solar products: The efficiency and durability of solar panels and other components play a pivotal role in the overall success of a solar installation. Inquire about the brands and models of solar panels the installer uses and research their performance metrics. A reputable installer will offer high-quality products with solid warranties, providing peace of mind for the long-term performance of the solar system.
5. Customisation and system design: Every property is unique, and an effective solar installation requires a customised approach. A reliable solar partner will conduct a thorough site assessment and design a system tailored to meet the specific energy needs of your home or business. Consider companies prioritising a personalised approach to ensure maximum energy efficiency and cost-effectiveness.
6. Financing options: The upfront cost of solar installation can be a significant consideration for many homeowners and businesses. Therefore, you should look for solar partners that offer flexible financing options, including leases, power purchase agreements, or low-interest loans. Understanding the financial aspects and available incentives, such as tax credits and rebates, can make the transition to solar power more affordable.
7. Maintenance and support: Solar systems require minimal maintenance, but choosing an installer that offers ongoing support is crucial. Inquire about their maintenance packages and warranty coverage to ensure that your investment remains protected in the future. A responsive and reliable support system can address any issues promptly, maximising the lifespan and efficiency of your solar installation.
Choosing a solar partner and installer involves careful consideration of expertise, reputation, licensing, product quality, customisation, financing options, and ongoing support. By prioritising these crucial factors, individuals and businesses can embark on a sustainable energy journey with confidence, knowing they have selected a reliable partner to harness the sun’s power.
2024 Business Predictions: David Roberts, owner and founder of JDR Group
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to David Roberts, the owner and founder of Derby digital marketing agency JDR Group.
In 2023 we saw the introduction of Meta’s social media network Threads and the continuing growth of AI platforms such as Chat GPT, and while they had contrasting fortunes in 2023, they were another reminder of how dynamic and ever-changing the digital marketing world is.
We decided quite early on to explore Chat GPT and to wait and see on Threads and, in the end, that decision paid off, and we were able to advise our 200 or so clients across the UK on what new platforms to adopt – or not – and roll out training programmes to our staff.
We see AI becoming a part of daily working life in 2024, as it becomes increasingly embedded in platforms such as HubSpot, LinkedIn, Google and Microsoft. We have found, if used well, that Chat GPT can be incredibly useful, although the idea that it can turn a novice into a marketing expert are wide of the mark – you really need expertise to be able to use it effectively, otherwise you just produce poor marketing faster.
So AI platforms like Chat GPT will continue to play a big part in marketing, as it will with most areas of business. As regards the social media side of things, it looks for now like Threads has unravelled, although it’s not gone away and Meta will no doubt be making improvements.
In 2024 all eyes will still be on X and whatever plans Elon Musk might have for it.
Otherwise, although the economic outlook for 2024 looks uncertain and marketing technology continues to change, the advice to clients from our industry will be to get the fundamentals right. They should resist the temptation to cut their marketing and look for short term quick fixes but instead invest long term in tried and tested methods, work to a strategy and not immediately jump on whatever the next big thing might be.
2024 Business Predictions: Dan Taylor, Director at Ford & Stanley
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Dan Taylor, Director at Ford & Stanley.
As we assess what 2024 might bring, there are some ongoing key themes for businesses to fully embrace as they become significant factors for candidates as well as employees.
The employer-employee relationship has undergone a paradigm shift, as seen by the recent trends in the labour market. Both employees and employers are in a position of power due to the rising demand for specific skill sets and higher rates of inflation, which paves the way for a mutually beneficial relationship. In this new dynamic where both sides have substantial influence on the nature of the workplace, cultivating a harmonious culture that emphasises cooperation and communication is crucial.
Given the changing nature of the workforce and the value that employers now place on training, flexible work schedules, bonuses, raises, and perks, it is imperative that retention be given top priority.
Reskilling and upskilling will also become more prevalent, so it’s important for businesses to provide training and development programmes to staff, to help improve employee morale, increase adaptability and enhance employee confidence.
Candidates now evaluate pay in addition to emotional support, so talent will be drawn in with promises of generous leave, flexibility, and mental health benefits. Initiatives such as mentoring and support for wellbeing are now considered prerequisites for businesses.
All of this is being fuelled by unlocking a healthier, happier workforce, as organisations seek to further invest in both personal and professional development of their people to increase staff retention and enhance their sense of purpose which ultimately, will drive further company growth.
Unexpected fall in corporate insolvencies ‘misleading’ as economic conditions remain tough
A month-on-month fall in the number of corporate insolvencies in England and Wales does not reflect current tough trading conditions, with the number of businesses becoming insolvent in the region likely to rise significantly throughout 2024.
This is according to the Midlands branch of the UK’s insolvency and restructuring trade body R3 and comes on the back of figures published by the Insolvency Service which show that corporate insolvencies decreased by 18.9% in December 2023 to a total of 2,002 against November’s total of 2,470.
Despite this, last month’s figure is an increase of 1.9% compared to the 1,965 corporate insolvencies in December 2022, and a rise of 34.4% in comparison with December 2021’s total of 1,490. Looking at pre-pandemic figures, the December 2023 statistic is 78.9% higher than the same month in 2019 (1,119).
R3 Midlands chair Stephen Rome, a partner at Midlands law firm Penningtons Manches Cooper, said: “The monthly fall in corporate insolvencies is due to a drop in Compulsory Liquidation, Creditors’ Voluntary Liquidation (CVL) and Administration numbers.
“The year-on-year rise in corporate insolvencies is driven by an increase in CVLs and a slight increase in Company Voluntary Arrangements, as the volume of businesses entering the other corporate insolvency processes fell compared to last December.
“These new figures are the highest for December in four years and reflect the final month of a difficult year. December was tough for many local businesses as they faced additional expenses at a time when margins were already tight. These won’t have been helped by a slowdown in consumer spending and a rise in energy prices.
“These extra costs could have been the final blow for many businesses and may have led to their directors turning to an insolvency process to resolve their firm’s financial issues.
“If the New Year trading period hasn’t improved on the one before Christmas, we could see insolvency numbers continue to rise, as businesses who had banked on a festive income boost to cover any financial shortfall turn to the profession for help.
“In such instances, directors should seek professional advice as soon as possible. This will give more potential solutions than acting only when problems become more severe.”
Green light given to West Northamptonshire Council office optimisation plans
Plans to bring more council services together into a central office in Northampton, whilst safeguarding the town’s historic civic traditions, has received the go-ahead.
At their meeting last week, West Northamptonshire Council’s (WNC) Cabinet members agreed proposals to move the majority of its back-office workers to its Northampton base in One Angel Square (OAS), with key sites in Daventry and Towcester continuing as local hubs where customers can access support and help.
Under the proposals, WNC staff currently based in the modern part of the Guildhall will relocate to OAS with the exception of the Coroner’s service which will relocate to the historic part of the Guildhall. The historic Guildhall building will continue to be the democratic heart of West Northamptonshire and host civic and ceremonial events and activities, including continuing as the home to the Mayor of Northampton.
Northampton Town Council (NTC), a new council which covers parts of the town, was formed alongside WNC as part of government reorganisation in April 2021. WNC put in place a licence for NTC to use part of the historic Guildhall for three years while it established itself and its plans.
WNC has now agreed to extend this license by 12 months whilst NTC identifies suitable alternative accommodation. WNC is working with NTC on this, but the town Council will move from the Guildhall in early 2025. This will allow the Northamptonshire Coroner’s service to be based in the historic building where it currently holds Coroner’s Courts for the County. This is a historic service itself dating back to the 1100’s.
Some WNC teams currently working from The Forum in Towcester will relocate to OAS in stages during 2024 and early 2025 and Northampton’s One Stop Shop will also move from the Guildhall to the lower ground floor of OAS, resulting in a more modern and accessible service for residents.
The proposals are expected to save taxpayers at least £350,000 a year initially, increasing as the rationalisation of property and new ways of working bed in. It follows a thorough review which identified that WNC has significantly more office space than it requires, along with a need to change how it uses its buildings to better support residents.
The Review also looked at the potential to rent space and the cost to convert and refurbish space. None of these offered taxpayers the value for money that the approved proposal will now deliver.
Cllr Jonathan Nunn, Leader of West Northamptonshire Council, said: “As we adapt to the challenges across public services, it’s important we do not waste valuable taxpayers’ money on things like surplus office space and that we make plans to reduce office space and maintenance costs.
“But it’s not just a financial decision; it’s about bringing our teams closer, so they can work even better together, and that we ensure we adapt our services and locations to reflect residents’ needs.
“The plans moving forward in 2024 maximise the use of our building spaces but also recognise the importance of protecting our heritage and maintaining ceremonial and civic traditions, as seen in our plans for the historic Guildhall, and ensuring Mayors can continue to use the historic section of the Guildhall.
“Whilst the office of the Mayor is far older than the building – dating back to 1215 – we welcome the opportunity to continue the association of the Mayor with the building.
“These plans also align with our goal to be net zero by 2030, with OAS being the most energy efficient of all the councils’ offices.
“Alongside these changes, we are reshaping and improving our service provision for residents in local communities across West Northants, working with partner public services in hubs at places our residents already access in their neighbourhoods such as libraries.
“We also have outreach teams from various departments who visit communities, taking our services out to residents. The expansion and development of locality hubs in Towcester and Daventry reflect our commitment to adapting to the needs of our community.
“While we want customers to be able to do more online and are working to make this simpler, we also know that many people face complicated circumstances and need to access multiple services for support.
“The existing Northampton One Stop Shop is one of the busiest we have but it cannot expand to meet the growing complexity of some customers’ needs. Currently, some customers have to move between the Guildhall and OAS to see our different services and many of our adult and children’s services visitors can be vulnerable and emotional.
“Neither the current Guildhall One Stop Shop or the existing OAS facilities are suitable for these kind of visitors and in the new One Stop Shop, we will have private rooms and facilities to allow more teams to work with vulnerable residents. This, coupled with our existing customer outreach sessions, will mean we can support vulnerable people more effectively.”
The plans follow the successful relocation of services from Lodge Road, Daventry in the summer, and the development of the nearby Abbey Centre into a locality hub including Adults, Children’s and other frontline WNC services joining community and voluntary partners.
Bellamy regeneration scheme takes shape
The £7.7m revitalisation of an estate in Mansfield is starting to take shape following the erection of the new shop parade steel structures.
Mansfield District Council’s redevelopment scheme on the Bellamy estate, near Tuxford Court, will see 22 high-quality affordable homes built, to be rented to families on the council’s housing list, as well as the creation of new retail outlets, demolition of the existing shop area, new through road, and a newly installed green space.
Deliveries of the 133 beams and columns have been used in the last week to construct the new single-storey parade of retail outlets that will become a convenience store, cafe, and takeaway. All the steel used for the shops has been manufactured in Rugby and weighs around 12.6 tonnes.
Once the shops are complete in May 2024, the next project phase will see the construction of the first phase of eco-friendly, affordable homes.
Councillor Anne Callaghan, Portfolio Holder for Housing, said: “The new shop steel structure now in place just shows the scope and scale of one of the first phases of this transformational project, which will be of huge benefit to the residents of the Bellamy estate community and beyond.
“We’re pleased that the construction work continues to move at pace, and it is just a testament to everybody involved in the project’s dedication and commitment to the scheme.”
The council’s in-house architects have designed the 22 homes in line with the Future Homes Standard, which requires new homes to have low-carbon heating and high energy efficiency, resulting in considerably lower carbon dioxide emissions than properties built to current Building Regulations.
The houses will include three four-bedroom semi-detached houses, eight three-bedroom semi-detached houses, nine two-bedroom semi-detached houses and two two-bedroom detached houses.
The Bellamy regeneration scheme has been made possible with £7.7m of capital investment taken from the council’s Housing Revenue Account, which is made up of tenant rents and must be used to either build more homes or maintain the housing stock across the district.
Part of the estate upgrade is already complete, with a new play park and learn-to-ride cycle track opening in early 2023.
