Conference urges business growth and collaboration to boost Chesterfield’s economy

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Conference urges business growth and collaboration to boost Chesterfield’s economy

Businesses in Chesterfield are being encouraged to explore ways in which they can grow, as part of ambitious plans to improve the town’s economy and create higher-value jobs for residents.

Speakers at Destination Chesterfield’s annual Celebrate Chesterfield Business Conference highlighted ways in which local businesses can harness support to innovate and create new jobs.

They also identified that if all organisations in the town currently categorised as ‘low growth’ experienced just a 1% uplift, it would significantly boost the local economy.

Helping businesses to grow and ensuring people have the right skills are key objectives of Chesterfield Borough Council’s Growth Strategy (2023-2027). To support this, delegates at Celebrate Chesterfield heard from businesses which are innovating and overcoming challenges to boost growth.

Mike Isherwood, Managing Director of event headline sponsor, System Q, explained how his business has evolved and adapted to become a supplier to major organisations, including the Ministry of Defence: “We are committed to providing our customers with the most innovative and advanced technology, ensuring their safety and security at all times.

“Our company is proud to be a part of the thriving high-tech community in Chesterfield, a town known for its innovation and progress. Despite the common belief that the best firms and talent are found in larger cities, this quaint town is home to a wealth of undiscovered talent.”

Ash Young, Managing Director of CarMats.co.uk, recently relocated his business to the town.

He said: “If we hadn’t done things differently, we wouldn’t have seen the growth that we have. When we set up the business we were aiming for 100 orders per day, but because we changed the way we marketed the products, we are now shipping around 150,000 orders per year and we’re going to turn over about £7.5m this year.

“We’ve managed to hire a really skilled team in Chesterfield and the transport links mean it’s easy for us to get out to couriers easily.”

Amy Revell, of We Are Spaces Ltd, recently expanded her business into larger office space at the Northern Gateway Enterprise Centre, having initially moved into the development last year.

She said: “We currently turn over around £7m and have 15 employees, and we are rapidly growing. Chesterfield has played a big part in our growth – we have a lovely office space here which we managed to grow from one of the smaller suites into a larger one.

“We’ve managed to recruit really good people in the area, and we are strategically placed really well. Being so central has allowed us to grow all of our core services nationally.”

At the conference, Destination Chesterfield also launched its ambitious new strategy and plan, which outlines the partnership’s aims to attract further inward investment, support businesses to grow and encourage more people to visit the town.

Peter Swallow, Destination Chesterfield Chair, said: “This plan reflects our town’s ambition, and where we collectively see the biggest growth opportunities. Recent research has identified 26% of revenues from tourism, inward investment and talent growth are shaped by people’s perception of a town or city. Meaning our collective work to promote the town are vital to achieving the town’s growth aspirations.

“Since 2010, Destination Chesterfield has worked alongside Chesterfield Borough Council and Chesterfield Champions to promote the area as a contemporary destination to invest, work, live and visit, and our public-private partnership continues to play a central role in the town’s success. We must continue working together to raise the profile of Chesterfield to realise its significant potential.”

Cllr Tricia Gilby, Leader of Chesterfield Borough Council, added: “Celebrate is always a fantastic event that showcases the very best that our borough has to offer. It was great to be able to meet with businesses to talk about how the council can support them to grow, but also to hear from them directly and discover what else we can do to drive growth and investment. “I was also pleased to see a strong reception the new Destination Chesterfield strategy and plan – this aligns closely with our own growth strategy and together we can help grow our local economy, attract more investment and deliver benefits for both businesses and our residents.”

The 2024 Celebrate Chesterfield Business Conference was also sponsored by Markham Vale and the University of Derby. The event also saw almost 40 businesses exhibiting across the East Midlands Chamber Business Support Zone and the Invest in Chesterfield Zone.

O’Brien Contractors signs first contract with Chesterfield Canal Trust

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O’Brien Contractors signs first contract with Chesterfield Canal Trust
As part of a £6 million restoration project, Midlands contractor, O’Brien Contractors, has signed its first contract with Chesterfield Canal Trust to deliver essential infrastructure works to the area.
Connecting the Trans Pennine Trail with the Arkwright Trail across the canal, the works will facilitate the delivery of a 38-metre-long pedestrian and cycle bridge. The project will form part of the first stage of the Staveley canal restoration, funded by the government’s Levelling Up programme.
Works are due to start on site in April, with groundworks due to commence in May; the project will run for 20 weeks, with an opening ceremony planned for September.
Tony Mitchell, Director at O’Brien Contractors, said: “We are extremely pleased to have been appointed by The Chesterfield Canal Trust to provide the new bridge at Staveley. This prestigious project will be a huge benefit to pedestrians and cyclists all over the region and the restoration of this historic route will benefit the community for many years to come.
“As O’Brien Contractors turns 65, we are more committed than ever to assisting our local communities in a long-term sustainable way. This project will not only create a safe and beautiful bridge for pedestrians and other trail users, but it will also benefit the local wildlife and biodiversity of the canal. We look forward to working with the Trust and their team over the course of this exciting project.”
Chesterfield Canal Trust Development Manager, George Rogers, said: “This is a big milestone for the Chesterfield Canal Trust, and we are delighted to appoint O’Brien Contractors to deliver this statement structure over the canal. Installing this bridge will open up the route for future restoration in multiple ways and I am looking forward to seeing it progress over the summer.”

Double appointment for Nottingham fabrication company

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Double appointment for Nottingham fabrication company

Nottingham fabrication company, Essential Projects has recently expanded its team with the addition of David Extall and Jade Scully.

Specialising in manufacturing and installing bespoke architectural metalwork and glasswork for esteemed clients such as Next Plc, Morrisons, and Waitrose, Essential Projects also undertakes various commercial fit-out projects and residential staircase and balustrade projects.

This double appointment comes in response to a number of recent project wins, marking an exciting phase of growth for the company.

David Extall, boasting 16 years of experience in architectural metalwork, takes on the role of Design Engineer. His responsibilities include providing design and draughting services to support the company’s development efforts. Moreover, David will play a pivotal role within the technical sales team, overseeing procurement and assisting the site installation team.

Jade Scully joins Essential Projects as an Accounts apprentice and is currently pursuing her Level 3 AAT qualification with EMA Training. In her new role, she will collaborate with the management team to implement enhanced project administration and financial systems. Her focus will be on improving customer service, project efficiencies, and identifying avenues for increased profitability.

David reflected on his appointment, saying: “I sought to leverage my expertise to contribute to the development of a business where I could truly feel valued, rather than just being another employee number in a large corporation. I’m delighted to have found this sense of belonging at Essential Projects and eagerly anticipate playing my part in the company’s future growth.”

Jade added: “As part of my apprentice course, I wanted to integrate my classroom learnings into a practical business setting. Finding a role where I could bridge this gap was essential for me.”

Eliot Saxton, Managing Director at Essential Projects, said: “It’s great to have a David and Jade on board with us. Recruiting more team members means we can steadily implement additional supporting systems and processes and ensure we have the right skill sets available to meet the requirements of the projects and continue to grow our business.”

Financial services firm adds Joseph to its wealth management team

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Financial services firm adds Joseph to its wealth management team
Financial services specialist Shorts has appointed Joseph Tighe to its Wealth Management Team as Financial Adviser. Partner Simon Hollin said: “Joseph’s appointment marks a welcome addition to our advisory team, enabling us to continue our business development and expansion over the coming years.” Joseph added: “Shorts have a long established and proven reputation for excellence, and I am very excited to join their talented Wealth Management team. I look forward to developing the role and playing a part in Shorts’ continued growth.” Established in 1890 and with offices in Sheffield and Chesterfield, Shorts provides financial services, whilst also offering accountancy and taxation services through Shorts Chartered Accountants.

Work underway on new affordable housing development in Northampton

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Work underway on new affordable housing development in Northampton
Colleagues from housing association Futures Housing Group and construction company United Living Group, joined together to visit the start of works on a new affordable home development in Northampton.The site will be home to 38 properties, made up of 20 social rent and 18 shared ownership ones on Central Avenue in Northampton, and will include one bed flats and two and three bed homes.Councillor John Shephard, Chairman of West Northamptonshire Council said: “It was fascinating to go onto a real site where people were working very hard, and I was impressed as it was extraordinarily tidy. “It was remarkable to see the steps being taken to accommodate the rainwater off the site and I look forward very much to welcoming the tenants to their homes later this year. The site has been vacant since the demolition of the squash club some 20 years ago, so we congratulate Futures for bringing it into proper use.”Each property on Central Avenue will have an electric car charging point, solar panels and thicker insulation to help make the homes more comfortable and affordable to heat.Ceri Theobald, Group Director of Strategic Partnerships & Growth at Futures, said: “Making energy efficient homes is important for Futures as it not only helps us on our road to net zero, but it’s beneficial for the people that then live in these homes. Their home will stay warmer for longer, meaning their energy usage should be lower, and the environmental impact will be reduced too.“We’re proud to be working with United Living who clearly share our same vision of providing good quality homes for people in a time where more homes are very much needed.”Caroline Lewis, Managing Director, United Living New Homes, said: “We’re very happy to be delivering this project; providing affordable homes is very important to us and it’s great to have a focus on making them more energy efficient and affordable to run too, through added sustainability measures.”

Record pre-tax profits for Next as sales rise

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Record pre-tax profits for Next as sales rise
Sales have risen and pre-tax profits have hit a record high at Next plc, according to its full year results for the year ending January 2024. Full price sales were up 4% at the Leicestershire retailer and total group sales rose by 5.9% to £5.8bn. Meanwhile, profit before tax rose by 5% to £918 million – £3m ahead of the guidance of £915m given in January, largely due to better than expected clearance rates of sale stock. Michael Roney, Chairman, said: “In the context of the wider economic environment, the year to January 2024 was a very good year for NEXT and the business materially outperformed our initial expectations. NEXT Group profit before tax rose to a record high of £918m, up +5.0%. Cash flow remained strong and we returned £425 million to shareholders through a combination of dividends (£248 million) and share buybacks (£177 million). “In the last year we have focused on improving our product ranges, improving our online service levels, managing costs and profitability, whilst also laying the foundations for future growth businesses. We launched three new Total Platform clients (JoJo Maman Bébé, Joules and MADE), taking our total number of clients to seven. We also made a number of new investments, increasing our equity stake in Reiss by 21% to 72% and taking a 97% equity stake in FatFace. We also acquired 100% of the intellectual property in Cath Kidston. “The year ahead will see a number of changes to our Board. Amanda James, who has been with NEXT for 28 years and our Finance Director for nine years, retires from the Board in July. Amanda has seen many changes over that time and has made a huge contribution to the Group. She has been an exceptional guardian of our finances and an integral part of the leadership of the Company. Our financial position today is testament to her diligence and hard work and, on behalf of all of us at NEXT, I thank Amanda for her amazing work. “I am delighted that Jonathan Blanchard will succeed Amanda on the Board. Jonathan was most recently the Chief Financial Officer and Chief Operating Officer of the Reiss Group, having joined Reiss as a Board Director in 2017. We have worked closely with Jonathan for over three years since we acquired an equity stake in Reiss. Jonathan brings to the Board a wealth of retail experience, a strong eye for financial detail and a good understanding of our operations, gained through managing Reiss’s transition onto Total Platform. I am very confident that he will make an excellent addition to our Board. “Dame Dianne Thompson, one of our non-executive directors, is leaving the Board in May. Dianne has made a valuable contribution to the Board over the last nine years. In particular, I would like to thank Dianne for the time and insight she has given to the Board’s relationship with colleagues through her participation in our people and communication forums. “Finally, I am pleased that Amy Stirling and Venetia Butterfield will be joining our Board in April as independent non-executive directors. Between them they bring a breadth and depth of expertise that will enhance and broaden the Board’s collective knowledge. “The continued success of NEXT is built on the hard work, dedication and decision making of all the people who work for NEXT. I would like to thank them all for their contribution during the year; I have little doubt and much expectation that they will rise to the new challenges and opportunities that are presented in 2024.”

Mazars sees third consecutive year of double-digit income growth across Midlands offices

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Mazars sees third consecutive year of double-digit income growth across Midlands offices

Mazars, the international audit, tax and advisory firm, has revealed a third consecutive year of double-digit income growth across its offices in the Midlands as part of their annual financial statement report publication.

The Mazars team in East Midlands, across its Leicester and Nottingham offices, significantly contributed to this successful year, which saw an increase of 17% to £39.2m.

The headcount of its East Midlands team grew by over 10% over the year which included welcoming 20 news trainees and 4 new partners, as well as promoting many of its existing team into more senior positions.

The four new partners comprise three internally promoted members of the team – Andy Hickson (Audit), Claire Cowen (International Tax) and Mark Surridge (Audit), as well as recruiting in Hina Desai (Wealth Management). The new partners augment Mazars’ East Midlands senior management team to 10 partners, who oversee and cover the delivery of all of its services locally.

Steve English, Office Managing Partner for Mazars across the East Midlands, said: “We are incredibly proud of our achievements during FY 22-23 and contributing to the growth in our business across the Midlands region.

“We’re confident in continuing this success in the coming years and look forward to expanding and welcoming new talent to support our growth, while also providing opportunities for development for all our team members.

“Our upcoming Forvis Mazars global network gives us a great opportunity to service our existing clients that have, or wish to have, US connections, as well as providing our team members with stronger opportunities in that geography.”

Dedicated Postgraduate Centre completed at Nottingham Trent University

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Dedicated Postgraduate Centre completed at Nottingham Trent University

Nottingham Trent University has unveiled a multimillion-pound Postgraduate Centre, featuring state-of-the-art technology and modern teaching and social spaces.

The fully refurbished centre boasts three floors of cutting-edge facilities in the heart of Nottingham city centre.

It will predominately serve around 2,000 international and UK postgraduate students from Nottingham Business School (NBS).

The 4,700 square metre space has been designed to meet the diverse needs of students, including flexible teaching rooms specifically designed to accommodate NBS’ collaborative teaching style, study spaces, bookable meeting rooms, and a tiered lecture theatre alongside employability services, student support and a vibrant café.

Teaching room in the PG Centre

A versatile outdoor space is also being created with an emphasis on supporting local wildlife and settings which promote wellbeing, it will also provide a distinctive venue for events.

The NBS Responsible and Sustainable Business Lab research centre and business development and support team will be located within the Centre to maximise collaboration between students, business, research and consultancy.

The Postgraduate Centre will also feature a lounge for MBA students and alumni. This dedicated space will serve as a hub for networking, mentorship, and knowledge exchange among graduates, fostering a sense of community and connection.

Nottingham Trent University Vice-Chancellor, Professor Edward Peck, said: “The Postgraduate Centre has been designed with an emphasis on collaboration and social interaction, providing all of our postgraduate students with an environment which fosters academic success, personal development and networking.”

Executive Dean of NBS, Professor Baback Yazdani, added: “The development of this Centre demonstrates the confidence we have in our postgraduate community and its growth. It will bring our executive education and postgraduate community together in one space and inspire the business leaders of the future.”

Social seating in the PG Centre

Employers urged to act now on immigration rule changes

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Employers urged to act now on immigration rule changes

Nottingham’s OTB Legal, a UK immigration law firm, has issued an update over changes announced by the Government that include new immigration rules.

The updates include issues that face both individuals and businesses, with the Government setting out some of the most significant reforms it previously announced as part of its five-point plans aimed at cutting net migration and the abuse of the immigration system.

The following changes have been made to the partner route:

– The minimum income requirement for partner immigration applications will go up from £18,600 to £29,000 for applications made from 11 April 2024 (if relying on savings only the required amount will increase from £62,500 to £88,500)

– Applicants who have made a partner (fiancé(e)/spouse/civil partner/unmarried partner) application relying on the current financial requirements before 11 April 2024 which is successful will be able to rely on the lower amounts for their subsequent applications

– It remains possible for those who cannot meet the minimum income requirement to raise exceptional circumstances if refusal would amount to a breach of Article 8 of the European Convention on Human Rights which protects the right to family and private life

Meanwhile, a new raft of Business Immigration updates have been published. Plans include:

– Abolishing the shortage occupation list and replacing it with a new Immigration Salary List

– Ending the 20% salary discount for shortage occupation roles

– Increasing the minimum salary threshold for skilled worker visas to £38,700

– Increasing the ‘going rate’ for many other jobs

– Roles on ‘national pay scales’ like NHS workers, teachers etc. being exempt from the salary increases as will be health and social care roles

OTB Legal’s business immigration director, Sally McEwen, said: “This announcement from the Government signals the most wide-ranging reform of UK work routes since Brexit.

“The Government has been clear that it wants to reduce net migration and businesses must act now to review potential applications and assign a certificate of sponsorship before 4th April 2024.

“We know from experience that there are processing delays that could slow this down, so it is imperative that business owners take the correct advice before it’s too late.”

Leicester CEO Sleepout backed by former rough sleeper who says homeless problem ‘worse than ever’

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Leicester CEO Sleepout backed by former rough sleeper who says homeless problem ‘worse than ever’
A Leicestershire man who ate from skips as a rough sleeper claims the area’s homeless crisis is ‘worse than ever’. Once a promising footballer with dreams of playing for Leicester City, Enton Barefoot slept under a bridge after becoming addicted to drink and drugs. “At night I’d urinate outside my tent to keep foxes away – but ending up on the street saved my life,” recalled Enton. “That realisation of how hard I’d fallen sobered me up and got me clean. “But that was almost 20 years ago, and my heart breaks for anybody in that situation now because the support for anybody who falls through the cracks is vanishing by the day.” He’s now backing the Leicester CEO Sleepout, which takes place on April 11 at Mattioli Woods Welford Stadium. The annual charity event raises thousands for causes throughout Leicestershire that help the region’s most vulnerable. Sobering statistics published by Shelter last year showed that on any given night, 1,400 people in Leicester were classed as homeless. Of those, a third are children. For Enton, who has since helped local homelessness charities, the current picture is bleak. “If I was homeless now, I just don’t know where I’d go for help,” admitted Enton, who has authored a book on his experience on the streets. “When I was homeless, there were more charities and churches open for me to get food, and there was more funding. “Where I now live, in Loughborough, a homeless hostel is fighting to stay open due to a lack of funding. It gives people who declare themselves homeless a place to stay while their application is processed. “It is a real lifeline and they’ve raised over £115k so far to remain open – but they need £200k and if that goes it will have a massive impact locally. “Charity’s will become inundated with applications and referrals, but there’s not enough money to help get people off the street, and that’s why it is vital as many people as possible support the CEO Sleepout this year – either by taking part or donating – as the money raised can and will change people’s lives.” Last year, the Leicester CEO Sleepout raised over £34,000. This year’s target has been raised to £40,000, with participants from the region’s business community asked to raise at least £1,000 each. The charity’s CEO, Bianca Robinson, said the event isn’t about replicating the real struggles the homeless face every night, but to raise awareness of just how hard their reality is. “The CEO Sleepout is tough and you are exposed to the elements, but participants have peace of mind knowing they will return to a warm home. “For over 1,400 people in Leicestershire, they don’t have the guarantee of a roof over their heads when they go to bed that night. “And as the cost-of-living crisis has exposed, we are all just a few steps away from that once unthinkable prospect. “By 2024, the Government had vowed to end rough sleeping but as Enton said, the current situation is worse than ever before so that’s why we all need to come together and combat homelessness, and hopefully participants will end the CEO Sleepout with a greater appreciation for just how hard life is for the homeless community.” At the event, Enton will also share his story with participants before they grab their bags for the night. Having witnessed people steal simply to get a warm prison cell for the night, he hopes that for those taking part, it will help “humanise” those who have no other option than to sleep rough. “People can forget that everyone sleeping rough is a fellow human being, and I challenge anyone to come along for one night and experience it for themselves,” he said. “Once you know that people have to do this night after night just to survive, it makes you look at homelessness in a totally different light.”

R3 Midlands urges cashflow caution as latest government statistics show surge in insolvencies

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R3 Midlands urges cashflow caution as latest government statistics show surge in insolvencies

The current surge in insolvent companies across England and Wales is likely to impact heavily on the Midlands economy over coming months, leading to further substantial rises in corporate insolvency levels across the region for 2024.

This is according to the Midlands branch of insolvency and restructuring body R3 and follows new statistics published by the Insolvency Service which highlight an 18.5% month-on-month increase in corporate insolvencies in February 2024, jumping from 1,774 to 2,102.

Last month’s number is also 16.7% higher than February 2023’s figure of 1,801, and 38.5% above February 2022’s total of 1,518. Compared to the pre-pandemic statistic of 1,213 in February 2019, February 2024 shows an increase of 73.3%.

R3 Midlands chair Stephen Rome, a partner at Penningtons Manches Cooper in the region, said: “These figures are the highest we’ve seen for February in more than four years, which is a sign that more and more businesses are at a point where a sale or a liquidation may be their only option.

“Local businesses are still suffering the after-effects of last year’s economic turbulence, with rising fuel, energy and funding costs and cautious consumer spending continuing to take their toll on the bottom line.

“While there is still some optimism among the region’s firms about what 2024 has in store, the economic conditions remain a key area of concern for many. Unless there is some improvement, we could see several more companies turning to an insolvency process to help resolve their financial issues.

“Directors and management teams need to remain vigilant and take action as soon as they spot any signs that the business could be financially distressed. Keeping that careful eye on cashflow, and acting immediately as soon as red flags are raised, gives more time for decision making and more potential options for resolving the situation.”

Leicestershire Charity Furnley House Foundation Summer Ball returns

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Leicestershire Charity Furnley House Foundation Summer Ball returns
The Furnley House Foundation Summer Ball returns on May 6th. Held at Winstanley House, the evening aims to raise a significant amount for three local charities, with the 2023 ball raising over £42,000 for Leicestershire charities. The annual ball was born out of Financial Adviser and Mortgage Brokers Furnley House’s ambition to create opportunities and improve and save lives in their local community. The dedicated Furnley House Foundation holds two flagship events throughout the year, The Furnley House Foundation Summer Ball and The Leicestershire Community Champions Awards, along with other fundraising opportunities to help bring the community together and raise money. This year, all funds raised will be dedicated to supporting three charities that were chosen during the 2023 Leicestershire Community Champions Awards: Charity of the Year winners, Steps Conductive Education Centre, and finalists Focus Charity and Heartwize. Steps Conductive Education Centre is a registered charity supporting families with children who have special educational needs. Focus Charity supports vulnerable young people, many of whom are in a mental health crisis. Heartwize delivers basic life support training including CPR using resuscitation dolls as well as how to use a defibrillator. Simon Winfield (Chairman of the Furnley House Foundation and Managing Director of Red Monkey Play) expressed his enthusiasm, stating: “We would love to see as many people as possible at this year’s Summer Ball. Our hope is that thousands of pounds are raised, and we can make a real difference to the local community. “Previous Balls have been fantastic evenings and have received lots of support, helping us to achieve our mission of improving and saving lives in Leicester and Leicestershire.” The evening is hosted by comedian Patrick Monahan and will feature a three course meal, live music, and the chance to bid on some incredible items, both in live and silent auctions. Last year, tickets sold out so be sure to get your tickets early.

Netherfield-based educational resources supplier acquired by leader in European B2B ecommerce

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Netherfield-based educational resources supplier acquired by leader in European B2B ecommerce
Netherfield-based educational resources supplier Findel has been acquired by Paris-headquartered leader in European B2B ecommerce Manutan. Manutan, which has a specialism in educational supplies, employs 2,200 people and operates 28 subsidiaries across 17 European countries, including the UK. The business offers in excess of 800,000 products to its customers and has a turnover of €946m. Findel’s origins as an educational resources supplier can be traced back to 1817. Today, the company’s brands and websites offer more than 32,000 products to educators and parents based in the UK and overseas with the business exporting to 130 countries. In addition to its distribution centre and offices in Netherfield, the company has its headquarters in Hyde, Greater Manchester, and employs around 300 people in total. The company’s brands comprise Hope, GLS, Davies Sports, Philip Harris and EuHu. The company’s current leadership team undertook a management buy out (MBO) of Findel from Studio Retail Group in April 2021. The MBO was supported by Leeds-headquartered private equity firm Endless. Commenting on the acquisition, Findel Chief Executive, Chris Mahady, said: “Over the past three years, Findel has undergone a business transformation thanks to the incredible work and dedication of our people and the support of Endless. “Our acquisition by Manutan marks the end of that journey and the beginning of an even more exciting one. Like Findel, at the heart of Manutan are values and a positive culture that guides everything they do along with an unwavering commitment to sustainability. “This gives Findel a long-term sustainable home for the future which ultimately solidifies our position and will help us to continue to develop an even stronger customer proposition. “In addition, Manutan’s leadership believes in fostering learning environments that inspire growth and innovation, so we are perfectly aligned. “By joining forces, we will leverage our combined strengths in the UK and international educational supplies sectors to achieve even greater success together.” All of Findel’s people have been retained following the acquisition and all commercial arrangements with customers and suppliers remain unchanged. Owner and chairman of Manutan Group, Xavier Guichard, said: “Following on from our strong growth in recent years, we’re delighted to be acquiring Findel, whose culture, focus on people, performance and shared values, is totally aligned with our own principles. “We also share the same business model, which combines the strengths of digital technology (our e-commerce solutions) with a strong focus on sustainability, providing service excellence to customers and suppliers.” Findel was advised on the acquisition by Clearwater and Walker Morris LLP and Manutan was advised by Cripps LLP (legal) and PWC (finance and tax). All values relating to the acquisition are undisclosed.

Nicholas Associates Group steps up to support local communities with ’50 for £50 Challenge’

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Nicholas Associates Group steps up to support local communities with ’50 for £50 Challenge’

Nicholas Associates Group (NAG), a provider of workforce solutions, has announced its recent initiative to support local community food banks through the ’50 for £50 Challenge’.

Throughout February, the company challenged its teams across the UK to walk 50 miles in return for a donation from NAG to enable the team to buy £50 of groceries for a local food bank. Sixteen teams took part, collectively raising £800.

The foods banks that benefited included the Archer Project in Sheffield and The Trussel Trust food banks in Scunthorpe, Coventry, Long Eaton & Sawley in Nottingham.

NAG Group CEO, Paul Smith said: “Community support has always been a core value at Nicholas Associates Group, and we are constantly seeking innovative ways to give back.”

He continued: “The ’50 for £50 Challenge’ provided an excellent opportunity for our teams to come together, not only to support local food banks but also to prioritise their own wellness by getting outdoors, engaging in physical activity, and fostering meaningful connections with their colleagues.”

The challenge received an overwhelmingly positive response from employees across the company. Teams enthusiastically embraced the opportunity to make a difference in their communities while also prioritising their own well-being.

Paul emphasised: “This is just the beginning of our commitment to community engagement. We are excited to introduce our latest initiative, the ‘March on in March’ challenge.

“Building on the success of our ’50 for £50′ challenge, teams will continue to walk for a cause. For every 10 miles exceeded beyond the initial 50, an additional £10 will be donated to support local communities. We’re eager to see the impact we can make together.”

The East Midlands Bricks Awards are back for 2024!

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The East Midlands Bricks Awards are back for 2024!
After another successful event in 2023, Business Link Magazine is gearing up for the East Midlands Bricks Awards 2024. Shining a light on the region’s property and construction industry, while offering an opportunity to network with business leaders, this year’s glittering ceremony will take place on Thursday 3 October at the Trent Bridge Cricket Ground in Nottingham. The East Midlands Bricks Awards is an independent awards and publicity programme recognising development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. Supported each year by a roster of highly-respected sponsors, the event is welcoming interest from businesses who would like to back a category at the event, supporting the East Midlands’ property sector while promoting their own quality work and brand. With a limited number of categories remaining, please contact Angie Cooper at a.cooper@blmgroup.co.uk to learn more about sponsoring the event. For those interested in entering the prestigious awards, which have been a highlight in the business calendar since 2015, further information will be released upon the opening of nominations in due course.

Steel-signing marks progress at Derby’s new entertainment and conference venue

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Steel-signing marks progress at Derby’s new entertainment and conference venue
A special ceremony has taken place to mark the progress made on the construction of Derby’s new £45.8m entertainment and conference venue. Senior figures from Derby City Council and project partners visited the Becketwell site to ceremoniously sign one of the development’s steel beams. The event celebrated completion of the external structure and roof of the building. Councillor Nadine Peatfield, Cabinet Member for City Centre, Regeneration, Culture and Tourism at Derby City Council was first to sign the steel and said: “I’m thrilled to see the progress being made and have this unique opportunity to add our own individual mark in the legacy of this landmark building. “This venue is a key part of our journey to transform Derby into a vibrant city centre with culture at its heart. It’s really exciting to see the structure go up and the space take shape at such pace.” The main contractors, Heage-based Bowmer + Kirkland, took over the site in June 2023 and by December the steelwork, alongside the rows of concrete steps which will create the tiered seating area, had been put in place. The roof is now ready for a concrete pour, which will be followed by a layer of insulation, plasterboard and quilting to the underside to ensure the building is soundproofed. Gus Kedzior, Regional Commercial Director for Bowmer + Kirkland said: “Today is a great day for all the project team but also for Derby and the wider community. Completion of the steel frame now means that we can see the shape and size of the venue and in less than a year we will be handing the project over to Derby City Council.” The finished building will contain 1,200 tonnes of steel. Heavy machinery helped the 10 operatives responsible for fixing the steel into place. The heaviest single piece weighs 3.5 tonnes and the longest single span of steel is 12.9 metres. Built on the site of the former Pink Coconut nightclub on Colyear Street, Laurie House offices, multi-storey car park and Padley House in Becket Street, the new venue is set to significantly enhance the city’s cultural offering. Boasting a larger and more flexible space than the city centre has had in the past, the venue will complement the activities of Derby Arena to provide the best possible events programme for Derby and the wider region. It will be a scalable space capable of staging a range of concerts, stand-up comedy, family shows, musical theatre, exhibitions, and business events. The venue is set to host over 200 cultural and commercial events each year and expected to attract an additional 250,000 visitors to Derby. It is also expected to create over 200 new local jobs and provide the impetus to kick-start further investment in surrounding areas of the city centre. The venue will be owned by Derby City Council and leased to and operated by ASM Global, the venue management and services company, and producer of live experiences, whose UK portfolio includes OVO Arena Wembley, AO Arena (Manchester), first direct Arena (Leeds) and Olympia and OVO Hydro (Glasgow). Construction work is progressing to plan with practical completion and handover scheduled for the first quarter of 2025. The exciting new 3,500 capacity entertainment and conference venue forms the second phase of the £200m Becketwell regeneration scheme, the most significant urban rejuvenation project for more than three decades. Phase one includes the city’s first purpose-built Build to Rent scheme. The Condor is owned and operated by Grainger plc and now almost fully let. The adjacent Springwell Square, a new public green space for the city, officially opened in September 2023. The Becketwell scheme is being developed by St James Securities, a privately-owned Leeds-based property developer, with a track record of delivering successful major regeneration schemes. Paul Morris, Development Director at St James Securities, said: “The steel-signing ceremony is a significant milestone in the construction of the long-awaited new entertainment and conference venue for the city. “Despite the terrible weather conditions over the past few months, construction has continued apace, and the building is really taking shape now. “We look forward to celebrating the completion of the arena at a topping-out ceremony later this year.” Future planned phases of the Becketwell scheme include potential for a hotel, and purpose-built student residential.

Midlands PE-backed mid-market businesses saw average 51% EBITDA growth over three years

Tess Egginton
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Midlands PE-backed mid-market businesses saw average 51% EBITDA growth over three years
Midlands private equity-backed businesses experienced average EBITDA* growth of 51% over the latest three-year period, underlining the positive impact that the sector is having on the region’s economy, according to a new report. The inaugural Private Equity Value Report from Real Deals, developed in association with BDO, found that the region performed slightly below the UK average. Nationally, growing PE portfolio companies achieved an average EBITDA increase of 58.9% over the same three-year period while average revenues grew by 22.2%. Accountancy and business advisory firm BDO commissioned the research to understand the impact that private equity investment is having on the growth of the regional economy. The data was drawn from the most recent three years of accounts filed with Companies House. The fastest growing 25 businesses in the Midlands saw average EBITDA growth of an impressive 90% over three years and included a range of businesses from the East and West Midlands, such as: Kindred Education Limited in Northampton, Nottingham-based Care Fertility Group and M&J Evans Construction in Walsall. The top 25 showcased a range of sectors from technology to travel and manufacturing and the most featured investors in the region were Bridgepoint, CBPE Capital and BGF. Steve Round, partner at BDO LLP, said: “Despite the challenges of the past three years, this research demonstrates PE-backed businesses are a resilient and dynamic segment of the region’s economy. “There’s often a focus on the level of deal activity and headlines around exits but we should also celebrate the value created by investors and management teams working hard to deliver against their growth plans.” The fastest-growing PE-backed businesses in the region created an additional 878 jobs between 2020 and 2022. BDO’s latest bi-monthly Economic Engine survey of 500 mid-sized businesses revealed that 37% of Midlands businesses are either currently looking for private equity investment or will do so in the next three months. Whereas, 48% shared they wouldn’t consider PE-backing with the biggest barriers cited as not knowing how to engage the right adviser or business owners favouring a trade sale with no requirement to be involved post-deal. Steve added: “Private equity investment can be a real force for good as this growth also fuels innovation and job creation in the Midlands. Looking ahead, there’s a significant opportunity for the region which is home to so many high-quality businesses. “Investors have the capital and appetite to back more entrepreneurs to scale up and we have the experience to support business owners and PE houses on that journey.” *EBITDA stands for earnings before interest, taxes, depreciation and amortisation.

Inflation comes in lower than expected for February

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Inflation comes in lower than expected for February
Inflation came in lower than expected for February, heading back in the right direction. Annualised inflation stood at 3.4% in February, measured by the consumer prices index (CPI), down from the 4% reported in January and below the 3.5% forecast. The largest downward contributions to the monthly change came from food, and restaurants and cafes, while the largest upward contributions came from housing and household services, and motor fuels. Meanwhile, core inflation, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, was 4.5% in the 12 months to February 2024, declining from 5.1% in January.

Alpesh Paleja, Lead Economist, CBI, said: “Inflation is heading in the right direction, and should fall below the Bank of England’s 2% target sometime in the Spring. However, the path beyond this is likely to be bumpy: shifting base effects mean that it will likely rise back above 2% later in the year, before settling down more sustainably.

“While the Bank of England are likely to look through these ups and downs, they will still want to see more definitive movement on domestic price pressures before committing to cutting interest rates.”

Revenue and profits slip at Eurocell

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Revenue and profits slip at Eurocell
Eurocell plc, the manufacturer, distributor and recycler of window, door and roofline PVC products, has seen a slip in its revenue and pre-tax profits. According to preliminary results for the year ended 31 December 2023, profit before tax stood at £11.7m, down from £26.2m in 2022. This was, however, in line with expectations. Revenue, meanwhile, declined from £381.2m in 2022 to £364.5m. This came against a challenging backdrop, as noted by Eurocell, with a weak repair, maintenance and improvement (RMI) market and particularly severe decline in new build housing.

Darren Waters, Chief Executive of Eurocell plc, said: “The trends reported at our half year results in September continued for the remainder of 2023, with some further modest weakening in our key markets. Against this challenging backdrop, we are pleased to report profits for the year in line with expectations and strong cash flow generation.

“We took early and decisive action on costs in response to lower volumes and have continued to focus on efficient working capital management, driving a good cash flow performance. Whilst the near-term outlook for our markets remains challenging, these actions leave us well placed to benefit from a market recovery when it comes.

“Our review of strategy is now complete and I am very pleased with the outcome. Looking ahead, we have identified a clear pathway to building a £500m revenue business, generating a 10% operating margin over a five-year period, built around four pillars; Customer Growth, Business Effectiveness, People First and ESG Leadership.

“This is an ambitious vision, but when we aggregate the growth opportunities, and apply a degree of sensitivity, we believe it is an achievable target, with the potential to create significant shareholder value.”

Over 160 new energy-efficient homes to be built in Bolsover

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Over 160 new energy-efficient homes to be built in Bolsover
Chesterfield housebuilder, Woodall Homes has secured a resolution to grant permission at Bolsover District’s Planning Committee for one of the firm’s biggest developments to date. The development lies on the countryside edge of Bolsover and will comprise 161 energy-efficient properties, with a mixture of one to five-bedroom homes, including bungalows. Accessed by a new tree-lined link road connecting Shuttlewood Road and Oxcroft Lane, the scheme will feature broad swathes of attractive, accessible open spaces, with multifunctional green infrastructure, landscape corridors, wildlife-friendly habitats and a local play area for community use, along with pedestrian and cycle connections linking to Bolsover’s amenities. Darren Abbott, Planning Director at Woodall Homes, said: “We are absolutely delighted to have secured a successful resolution to grant full planning permission for our new site in Bolsover. “This will be one of our largest developments and will make a significant contribution to achieving our targeted growth as a business in the coming years. It will cater for a wide range of needs within the area, providing accommodation perfect for couples, families and buyers who are ready to downsize.”
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