Derby County deal falls through
The deal to take Derby County Football Club out of administration and under the ownership of American businessman Chris Kirchner has fallen through.
The joint administrators of Derby County, Quantuma, named Kirchner as the preferred bidder for the club in April, after he had initially expressed an interest in acquiring the club in late 2021.
Now, however, Kirchner has withdrawn his offer.
A spokesperson on behalf of the joint administrators of Derby County said: “The joint administrators can confirm that today, Mr Kirchner has withdrawn his offer to acquire the business and assets of The Club.
“We are aware that some will be concerned by this news, however, the joint administrators wish to reassure The Club’s staff, players and supporters that they are continuing to actively engage with a growing number of interested parties, each of whom have a real willingness to complete a deal as soon as possible.
“The joint administrators would remind all stakeholders of the process in place for those parties who wish to acquire The Club. The joint administrators are running a competitive bidding process.
“Bids should be best and final and not contain any referential element. Clearly, any bid is subject to interested parties entering into an NDA, accessing the data room, and undertaking their own due diligence. Of the parties we are engaging with, some are more progressed in this process than others.”
East Midlands Chamber Chief Executive Scott Knowles said: “The saga surrounding Derby County has already gone on for far too long and this latest chapter only serves to compound the misery felt by many people across Derby and the surrounding area.
“The football club is an integral component of the city’s heritage, make-up and economy, with the prosperity of both intrinsically linked.
“A successful team competing at the top of the sport creates a healthy atmosphere across the whole area and this will always have positive economic consequences.
“Companies located in and around the city benefit from the tens of thousands of people who turn up every match to support their club – pubs, cafés, restaurants and shops will be packed before each game, while local transport networks rely on the increased number of passengers to remain viable.
“But it’s also much more than that. Derby County is a part of the city and county’s fabric.
“So fans, communities and businesses alike have understandably been hoping for a positive update from the joint administrators. This latest takeover setback creates more uncertainty for an area that is desperate for some good news on securing the future of a sporting institution they rely on.
“It’s vital the football authorities and administrators work together to finally put an end to this sour episode and find a positive resolution that secures the long-term future of Derby County Football Club.”
Construction gets underway at new Etwall housing development
A local housebuilder has begun work on a project to build 50 new homes in Etwall, Derbyshire.
Redrow East Midlands has officially started work on the brand-new development, The Nook, after acquiring 21-acres of land off Jackson’s Lane.
Four and five-bedroom homes are already available, and three-bedroom homes will be released as the development progresses.
Ryan O’Sullivan, sales director at Redrow East Midlands, said: “The perfectly quaint village of Etwall offers the perfect location for those seeking a home which benefits from picturesque countryside while remaining just a stone’s throw from the hustle and bustle of thriving city life.
“With great transport networks, a host of local amenities and open green spaces on your doorstep, this development will bring much-need homes to the area – perfect for commuters and families alike.”
Manufacturing Growth Programme delivers business support plea after safeguarding 1,000 jobs in the East Midlands
A business support programme that has created and safeguarded over 1,000 manufacturing jobs in the East Midlands is urging local authorities to ensure assistance is still in place under the new funding landscape.
Bosses at the Manufacturing Growth Programme (MGP), which provides grants and dedicated consultancy to SME manufacturers in the region, are warning that the potential gap between European Regional Development Funding and the UK Shared Prosperity Fund (UKSPF) could see businesses left without the assistance they need.
Regional director Dean Barnes believes the fragmented nature of UKSPF – where each local district will receive its own pot of money – means it will be difficult to deliver good quality support to management teams that have guided their firms through Brexit and, more recently, COVID-19.
The rallying call comes as MGP reveals its latest performance data, with £1.93million in grants delivered to 1,066 East Midlands companies over the last three years.
This has leveraged £3.3m of private sector investment and helped manufacturers enter new markets, diversify their products/services, improve efficiencies and secure vital quality accreditations.
“We’re about to enter one of the most exciting, but challenging times in business support where the focus will fall away from ERDF and into a new landscape where each place (it could be as small as a District Council) will be given control of what they want to invest in and how they want to shape their local investment plan,” explained Dean.
“It is key that neighbouring councils work together to pool funding to deliver support at a regional level to ensure they get the most out of their budgets and reduce the amount of ‘business support’ noise in the marketplace.”
He went on to add: “The UK Shared Prosperity Fund is intended to help the Government’s desire to ‘level up’, but East Midlands businesses must have a voice on what they want.
“They don’t just need grant funding, they also want advice, best practice implementation and help with long-term improvements.”
Funded by the European Regional Development Fund (ERDF) and delivered by Oxford Innovation Advice, MGP was launched in 2016 to create a targeted service to support manufacturing SMEs.
This focused on creating a team of Manufacturing Growth Managers who work with management teams on initially completing strategic business reviews.
From there, they provide grant funding and signposting services to specialists that deliver improvement projects in strategic planning, productivity and process improvement, competitiveness, innovation and leadership and management.
Nearly a third of firms so far have chosen to tap into marketing and market knowledge support, followed by a quarter choosing help to improve productivity and 14% wanting assistance with continuous improvement.
Jane Galsworthy, Managing Director of Oxford Innovation Advice, said: “We are already helping with the ‘levelling up agenda’ by supporting small businesses in less developed areas to grow and have adapted our support model to meet evolving business needs.
“These include continuing to boost productivity, helping firms work towards Net Zero, job creation, internationalisation and, increasingly, embracing digitalisation and Industry 4.0.”
She concluded: “There has been some massive strides forward in business support and we’ve seen first-hand how the right expertise can unlock the potential of some of our brightest SMEs in the East Midlands. It would be foolish to throw that all away with the launch of UKSPF funding!”
Notts County Foundation appoint new trustee to board
Charity, Notts County Foundation has appointed Sam Sharp to its board of trustees.
Quoting a passion for wanting to positively impact his local community, Sam, who is currently a senior associate at local full-service law firm Browne Jacobson LLP, completed his undergraduate degree in law at Lancaster University before returning to Nottingham to attend law school.
Sam has since become a corporate solicitor, primarily focussing on mergers and acquisitions, corporate finance transactions, and company reorganisations, as well as governance and general company law advice.
Sam said: “I am delighted to have joined Notts County Foundation’s board of trustees at what is a really exciting period of growth for the charity. I am a regular squash player at the Portland Centre and having been a Notts County Football Club supporter since the age of eight, I have always been aware of the great work that Notts County Foundation carries out across Nottingham and Nottinghamshire, which ultimately made it an easy decision to make when the opportunity arose.”
Dianne Jackson, chair of trustees at Notts County Foundation, said: “We are thrilled to welcome Sam to our board of trustees. It goes without saying, but Sam’s legal expertise and knowledge will be fundamental to the development of the charity throughout 2022, especially in relation to our commitment to providing equal opportunities for everyone within our local community. I am very much looking forward to working alongside Sam and formally welcoming him to Notts County Foundation.”
Sam Sharp added: “I can’t wait to get started with Notts County Foundation and am looking forward to utilising my experience to contribute towards the charity achieving its objective of improving the health and wellbeing of local people through increased levels of physical activity.”
Two new recruits for marketing agency
Thomas Liddle and Callum Alton are the latest new recruits at full service marketing agency Purpose Media, which is based in South Normanton on border of Nottingham and Derby.
The duo are joining the award winning agency in roles as a videographer and digital account manager.
Thomas, who lives in Mansfield Woodhouse, has a first class honours degree in film production having previously been a freelancer, working with various production companies nationwide. His experience includes on-site filming, video editing, and project development from pre-production all the way through to post-production.
Commenting on his new role, Thomas said: “I am looking forward to working with other members of the video team. Being a freelancer has allowed me to experience a variety of different work cultures but I’ve never been able to fully develop as part of a constant wider team. By joining Purpose Media I will be truly allowed to immerse myself into a consistent collaborative environment where I can really feel like part of the team.”
Meanwhile, Callum, who holds several marketing and Google accredited certifications joins as digital account manager having previously worked at another local marketing agency and an apprenticeship provider. He was also a EEF Young Photographer Finalist in 2017.
Callum added: “I chose to join Purpose Media as they’re incredibly well established within the industry and the local area. Already having 6 years of agency experience meant that I knew what to expect within an agency environment, and PM is the perfect place for me to not only develop my personal and professional skills in digital marketing, but also aid in the development of the digital side of the business.”
Time Finance drives business growth in the East Midlands with new business development manager
Time Finance has appointed Ewan Clarke as business development manager in their Invoice Finance team to drive business growth in the East Midlands.
Ewan joins Time Finance with a background in corporate insolvency and alternative finance, having spent the last 8 years supporting businesses through recovery and turnaround plans as well as helping them to seek finance solutions for growth.
In his new position, Ewan will be responsible for maintaining strong relationships with his introducer network in the East Midlands region whilst generating awareness of the Invoice Finance solutions available to business owners through Time Finance.
Speaking of his appointment, Ewan said: “Having worked closely with businesses of all shapes, sizes, and sectors across the East Midlands over the last decade, I know just how many opportunities there are to help firms in this region.
“On top of this, the challenges the SME market currently faces leaves many in need of supportive solutions that can help them to overcome cashflow issues, supply chain disruption and rising costs as well as take advantage of opportunities that arise.
“I’m looking forward to using my skills and experience to help create the best solutions for our clients and their introducers, as well as to help bolster our support offering in this area.”
Adrian Payne, head of sales at Time Finance, added: “We’re delighted to have secured Ewan into our team. His experience and can-do attitude will make him a great addition and only further strengthen our national sales presence.
“Ewan’s appointment comes at a crucial time whereby current economic challenges leave many firms held back and in need of financial support. Our relationship-driven approach and passion to help more businesses across the UK to gain access to the funding they need to bring their plans to life means we’re in an ideal position to support them during this time.”
New laboratories for growing Nottingham CRO see company triple footprint
Contract research organisation (CRO) Cellomatics Biosciences has moved into new purpose-built premises in Nottingham in the wake of rising demand for its bespoke preclinical and early drug discovery phase laboratory services.
The company’s new facilities in Colwick, Nottingham represent a three-fold increase in the company’s footprint, allowing room for further expansion. The purpose-built facility is an independent building covering approximately 5,500 sq ft of space across two levels.
The ground floor is dedicated to laboratory facilities, whilst the first floor provides scientific write-up space, offices, and meeting rooms. The new laboratories are equipped with state-of-the-art imaging and analysis equipment and Class ll biological safety cabinets, fridges, freezers, and CO2 incubators.
Employing 15 people, Cellomatics was founded in 2015 and specialises in the development of bespoke bioassays across numerous therapeutic areas including oncology, immuno-oncology, immunology, inflammation and respiratory.
The company has doubled its revenue over the last three years, and is on-track to record further growth, as Cellomatics’ CEO and founder, Dr Shailendra Singh explains: “Drug development is a truly global market and the number of biotechs, pharma companies and academic groups working on the translation of ideas into medicines continues to increase, and as does the funding available to support such projects.
“The changing dynamic of the industry means that companies are increasingly looking to specialist CROs for the expertise they need. Our bespoke service delivers critical data at an early stage through innovative solutions to complex testing requirements – an approach which has cumulated in repeat business and helped us to build a strong reputation in the market.”
“We are delighted to be expanding our footprint in Nottingham,” Shailendra says. “The city sits at the heart of the UK’s thriving preclinical CRO sector in the East Midlands and affords access to talent and expertise from both the local universities and the scientific industry. Our new state-of-the-art facilities provide a collaborative working environment for our valued workforce, and will enable us to accelerate our plans for further recruitment and to attract the very best scientists to Cellomatics.”
Stuart Gibson, finance director at Cellomatics, says: “Cellomatics is well-positioned to double top-line organic revenue over the next two years through expansion into new markets, focusing on new therapeutic areas, developing or acquiring new technologies, and building new service offerings.
“We also plan to partner with strategic investors to further accelerate our growth. As a company, we are committed to developing additional capabilities to enhance the depth of our services within our current specialist sectors, and to expand into other growing sectors.”
Shailendra Singh adds: “Going forward, we will continue to invest in our technical expertise to meet the global demand, and to accelerate the rate of our export business. Indeed, to fulfil our ambitions of delivering exponential growth in revenue and shareholder value across the next few years, we will continue to invest in our scientific capabilities, technologies, and services to support us in delivering and adding value to more client projects.”
Cellomatics Biosciences was recently awarded the Queen’s Award for Enterprise for International Trade.
Delta-Simons acquires Ground Engineering Ltd
Delta-Simons, the Lincoln-headquartered multi-disciplinary environmental and health and safety consultancy division of the Lucion Group, has completed a key strategic acquisition in the East of England.
Peterborough-based Ground Engineering Ltd, which specialises in the provision of site investigation services and geotechnical testing, strengthens Delta-Simons’ Geo-Environmental team, bringing additional site investigation expertise, capability and also enhancing its geographical footprint.
The bolt-on deal, which brings a skilled team of 24 geotechnical engineers, geologists, laboratory technicians and drilling operators to Delta-Simons is the first acquisition since its own integration into fast-growing private equity-backed environmental services company Lucion Group in April 2021.
Ground Engineering has a distinguished history in the sector, tracing its roots back to 1936 when it was founded as Pre-Piling Surveys Ltd, which later became Soils Engineering.
Today, the company offers geotechnical and geo-environmental ground investigation and associated professional services to a wide range of civil engineering, construction, housing, environmental management and financial sectors.
Working mostly in the East of England, London and the South East, the team’s activities are supported by its UKAS ISO 17025 accredited geotechnical and construction materials testing laboratory.
Ground Engineering’s directors Chris Ebeling and Steve Fleming will remain with the business moving forward, supported by the Delta-Simons leadership team.
Chris Ebeling said: “We decided it was the right time to join forces with a larger group of companies to ensure the future sustainability, growth and success of the business. Our team have built a strong reputation for providing high-quality, trusted geotechnical services to our clients.
“When presented with the opportunity to join a progressive group of companies and specialising in similar services, we immediately recognised the synergies and saw it as a fantastic opportunity for our team.”
Alex Ferguson, Managing Director of Delta-Simons, added: “As an ambitious, purpose-driven and client-focused company we are always looking to strengthen our team with the addition of high quality acquisitions.
“We are therefore delighted to bring the Ground Engineering team into Delta-Simons and the wider Lucion Group. They are a great fit for our existing GeOps division, which continues to grow from strength to strength.
“We’ve had a really busy start to 2022 as we continue to scale the group of businesses in line with our strategic growth plan and look forward to making further progress this year with strong organic growth delivered alongside further potential strategic acquisitions.”
James Winterbottom, senior investment director at Palatine, Lucion Group’s private equity investor since 2019, added: “Alongside strong organic growth across the business we have been pleased to support Lucion Group with a number of value-enhancing bolt-on acquisitions over recent months and we look forward to working with the team to further deliver their strategic growth ambitions in the second half of 2022.”
The transaction was supported by business advisers BDO and HSBC.
Dragon Boat spectacular set for Lincoln Brayford Waterfront!
Ringrose Law & LIVES host the annual spectacular Lincoln Dragon Boat Challenge on Saturday 18th June when 21 teams will take to the water, watched by several hundred spectators. This is the first boat race since 2019 and is set to be the biggest and best yet.
Crews will race the thirty foot brightly painted Chinese boats over a 200m course on the Brayford North Waterfront.
The 21 crews representing local businesses and charity organisations across Lincolnshire will be raising money for LIVES on the day. Local teams include Branston, Streets Chartered Accountants, DatCom and Daniel Charles Construction and past winners Belton Construction.
LIVES is a vital Lincolnshire charity who attend 999 medical emergencies across the county, 365 days a year. Whether they are providing rapid first response support on their doorstep, or highly specialised medical interventions to the most seriously ill patients, they all volunteer their time – for free – to save lives and be there when someone is having their worst day. The charity provide the equipment and training for the ever increasing need.
Racing will commence from 11.30am and trophies will be presented by LIVES to the winning crew from around 4pm.
Alex Bennett, marketing manager at Ringrose Law and one of the organisers of the event, said: “We are delighted that so many local companies are supporting this event and through their generosity we hope to raise a significant sum for LIVES. We are sure that crews and spectators alike will enjoy a fantastic day with races every 10/15 minutes throughout the day and plenty of entertainment on the Brayford including a Penalty Shoot Out with Lincoln City Foundation, Face Painting, Active Nation, Party Delights, Gelato Cart, Coffee Trike, Custom Bakes and much more.”
Entrance to the event is free to spectators and parking is available at Lucy Tower Carpark and other public carparks close by.
Swedish corporate group swoops for manufacturer and supplier of signage
Mindelon AB has acquired all the shares in Astley Signs Ltd (Astley), a British manufacturer and supplier of brand-building signage and graphic solutions with a site in Kettering.
Astley offers everything from the production of a graphic profile and design to the installation of both large facade signs and small signs and graphic elements for attracting attention and wayfinding in retail stores and buildings.
Astley has a large customer base of well-known global brand owners for which the company provides both bespoke solutions for unique environments and wider signage programmes for retail chains. The head office is in Gateshead and the company also has units for production and service in Kettering, Leeds and Glasgow.
The company was started back in 1924 under the name H. Astley & Co. and has today about 150 employees and annual sales of around £16 million. As a result of the acquisition, Astley is now an independent company in Mindelon’s Retail Solutions business area headed by Ulrica Lindunger.
“Astley helps its customers to sharpen their profile and build their brands through innovative, eye-catching and effective signage solutions. For many years, the company has had proven operational ability and strong relationships with large global players. Astley will therefore be an exciting and valuable addition to our Retail Solutions business area where we will support the company as it continues its successful journey. It is also exciting that the Mindelon group now has a solid foothold in the British market,” says Fredrik Celsing, president and CEO of Mindelon AB.
The sellers of Astley Signs Ltd are David Redhead, up to now chairman of the Board, Gavin Redhead, Managing Director, and David Forrester, sales director, of whom the latter two will continue their involvement with the company in their respective positions.
Gavin Redhead says: “The transaction secures the future of the company for the next generation and enables it to continue to follow the path of investment, growth, and evolution we have successfully pursued over the last three decades. We look forward to all the opportunities that it will bring for the business.”
Confidential Corporate Finance acted as advisor to Mindelon for the transaction.
