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.The biggest challenge for employers in 2023 will be retaining and motivating their older members of staff, says the boss of a HR & Employment Law firm.Rob Tice, director of growing Derby business BMcPrecept, sees continued challenges for businesses across the UK in the new year and is urging bosses to think of innovative ways to incentivise their staff.Findings from the recent Resourcing and Talent Planning Report from the Chartered Institute of Personnel and Development (CIPD) found that recruiting for senior and skilled roles was most challenging with 58% of companies struggling in this area.Sixty per cent of companies also reported that talent was more difficult to retain compared with 12 months ago.
Rob said: “Retention of staff is a massive issue for many businesses. Pay is, of course, a huge factor in keeping employees happy but flexible working and other factors are becoming increasingly important.
“It is also important to bring in the right staff. Currently, we are seeing a lot of people in roles that they may not necessarily be suitable for because the Company has struggled to find the right candidate and that has a knock-on effect for management, owners and clients.
“That is where honest conversations need to be had. These conversations haven’t been held because people try to avoid them; they’re afraid of the consequences on livelihood, especially with the rising cost of living.
“But it’s vital for everyone that employers are honest and open.”
Rob also believes that, in 2023, we will see an increase in apprenticeships and a push on workers over the age of 50 being re-employed.In November, the Government unveiled a network of dedicated 50PLUS: champions now in place across England, Scotland and Wales. It builds on £22m funding boost secured to support older workers.
“Brexit hasn’t helped the jobs market but the huge drop-out of people aged over 50 in the labour market is something that is being addressed,” said Rob. “These people are seen as a huge asset to our country with their skills and experience.
“We are also seeing quality apprenticeships come back in fashion, with more and more companies seeing the value of employing apprentices at all levels including degree-level apprentices.”
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 Kevin Hard, Managing Director at land promotion and property developers, Stagfield Group.
It is no surprise that the cost of living crisis has caused a high degree of market uncertainty within the housing sector. Despite the current economic challenges, now is a great time for housebuilders and land promoters to look ahead and keep pushing forward with sustainability and low energy homes.
Now more than ever, buyer demands and environmental concerns are influencing how we create housing developments that serve the local community. Here at Stagfield we are already predicting a greater focus on sustainability. With climate change and energy prices ever increasing, our focus is very much on providing innovative low energy homes, which helps combat the cost of living and creates desirable communities that people want to live in.
With the need for housing, biodiversity and improvements to infrastructure also a strong focal point, we’re also expecting to see a greater interest in landowners who own brownfield or greenfield land, looking to realise the value of their land and bring forward development opportunities.
A brand new six storey office development has opened in Chesterfield – a major step forward for the Chesterfield Waterside regeneration scheme.
One Waterside Place was officially opened on Thursday 26 January by Chesterfield Borough Council. The building, which has become a striking new feature of the local skyline, features six floors of ‘Grade A’ office space with a ground floor retail unit and has already drawn in new investment to the town.
BHP moved into the building in November 2022 and were closely followed by leading woman’s leisurewear company Varley in January 2023.
Councillor Tricia Gilby, leader of Chesterfield Borough Council, said: “The opening of this new development is a key milestone for the £340 million Chesterfield Waterside regeneration project. One Waterside Place represents our ambition to build a thriving borough and create new opportunities for our residents.
“Our first tenants have already moved in and I look forward to welcoming more businesses to the building over the next year.”
BHP partner Dominic Staniforth said: “The new office is an excellent space that provides first-class facilities for our team, with an array of restaurants, cafés and shops close by. I know I can speak on behalf of my Chesterfield colleagues when I say that we’re proud to be the first tenants in such a prestigious building and we look forward to being in our new home for many years to come.”
One Waterside Place provides bespoke office accommodation for established businesses – offering a modern base for ambitious companies looking to grow and thrive in a central and well-connected location.
The 35,000 sq ft building delivers Grade A, large floorplate office accommodation, which does not exist elsewhere in Chesterfield. The building incorporates two passenger lifts, raised access flooring, air conditioning, LED lighting, a high-quality entrance foyer, showers, on-site cycle parking facilities as well as attractive public realm and landscaping.
The building has been designed with sustainability in mind, boasting a BREEAM score of Very Good and an EPC A rating for its energy performance. The ground floor has been designed to create a new retail or leisure space close to the train station.Peter Swallow, Managing Director of Bolsterstone Group Plc, which project managed the delivery of the office and is delivering the Chesterfield Waterside scheme, said: “We are delighted to have worked with Chesterfield Borough Council to deliver this landmark building.“Britcon began construction of One Waterside Place amidst the pandemic which brought many challenges in terms of staffing, health and safety and supply of materials. However, they have delivered an exceptional building which they have also used as a learning experience for local students during the build, following an initiative from the council.”
One Waterside Place sits within the £75 million first phase of the Basin Square neighbourhood of the £340 million Chesterfield Waterside regeneration scheme. Once complete, the Basin Square neighbourhood will also comprise 320 Built-to-Rent apartments, a 400-space multi-storey car park, a 140-bed hotel, retail and leisure units.
This area will be landscaped to a high quality standard with the canal basin being at the heart of the scheme, creating a great environment to spend time in on the edge of the town centre alongside a central community hub for occupiers and residents of the Chesterfield Waterside scheme.
The canal basin site has been brought forward with support from the South Yorkshire Combined Authority Infrastructure Fund. One Waterside Place was funded by Chesterfield Borough Council.
Knight Frank and FHP Property Consultants are letting agents for the office space at Chesterfield Waterside.
Hinckley business Savage Lighting, a specialist in the design and manufacture of custom high-end lighting solutions for luxury yachts across the world, has been appointed an integration partner by global automation provider, Crestron Electronics.
The unique partnership represents a first for Crestron, as the international business is now working with Savage Lighting as its first LED lighting partner.
Described by Crestron as ‘one of the most prestigious marine lighting firms in the world’, the partnership will see Savage Lighting creating and manufacturing custom lighting solutions for superyachts, as the company’s Managing Director Julie Clark, explains:
“The integration partnership with Crestron will involve Savage Lighting creating highly customisable, easy to install and maintain lighting control solutions for superyachts, and brings together the power of the Crestron Home OS tunable lighting solutions and their DMX-C LED lighting driver to the Savage Marine line of fixtures.
“Crestron products are at the forefront of technology, are user-friendly, and beautifully designed, so the partnership fits perfectly in our portfolio of high-end lighting solutions. For Savage Lighting to be appointed an Integration Partner by one of the world’s leaders in technological innovation is hugely significant for the business.
“All the lighting solutions and products created under the Crestron partnership, will be designed, engineered and manufactured at our Leicestershire facility,” she adds. “Our in-house machining facilities and highly skilled teams of precision engineers and dedicated electrical engineers will handle the design and manufacture, alongside Crestron and their dedicated project management team.”
Dan Kerkhof, director of Crestron Marine, explains: “Together, Crestron and Savage Lighting offer a complete lighting and window treatment solution for superyachts in a way that is unique to this market. With just two suppliers, you have an end-to-end solution with all the features and customisation options you could need.
“One of the many benefits of the partnership is the simplification of the hardware that’s needed to run marine lighting, and resulting possibilities are nearly limitless.”
Adam Sedgwick has been appointed as sales director at Light Science Technologies to spearhead its global growth plans, as the Derby-based AgTech firm eyes further success after a busy 2022.
With extensive experience in the industry spanning 30 years, Adam is a graduate of Harper Adams University, where he gained his BASc in Agricultural Engineering, before working as a precision farming specialist for four years. He then moved into sales in the sector, working for Vantage England & Wales, before moving into an international sales role at environmental data services specialist Soil Scout.
In his new role, Adam will be responsible for directing the firm’s sales strategy across the UK and identifying further opportunities in the lighting and sensor markets.
The announcement comes off the back of a successful 2022 in which LST reported it had secured contracts for several trials for its newly launched sensorGROW product, with a potential value of more than £1.1 million. sensorGROW offers technology, data collection, advisory and maintenance services for clients, on a three-year contracted basis.
Adam said: “It is an incredibly exciting time to be involved in this area of the market, LST’s lighting and crop growing technologies in indoor farming are evolving rapidly to offer a viable solution to growers focused on energy and cost efficiency, as well as sustainability.
“My aim is to build on the success LST has had so far as an AgTech specialist, one which has already established a strong footprint within the CEA market. I’m very much looking forward to helping deliver on our ambitious sales targets as we kick start 2023.”
Simon Deacon, CEO and founder of Light Science Technologies, said: “Adam’s expertise in the field perfectly complements our vision – we are delighted to have him on board.
“His extensive experience in sales will without doubt accelerate our business development activity and we are excited about expanding our client base in the UK and further afield. Adam is a great asset to the team and brings a wealth of both industry and sales insight to the table.”
OakNorth Bank has completed a bespoke loan to a joint venture between Harrison Street and Torsion Developments, for a 361-bedroom purpose-built student accommodation (PBSA) development in Lincoln called, Pine Mill.
Located a 12-minute walk from the University of Lincoln’s main campus and a 20-minute walk from Lincoln City Centre, the accommodation has managed to achieve almost 100% occupancy.
Harrison Street, one of the leading investment management firms that exclusively focuses on alternative real assets, has over $55 billion in assets under management and has invested in over 105,000 student beds throughout North America and Europe. Meanwhile Torsion Developments, which was founded in 2015, specialises in student accommodation, care, residential, and housing. Its team has a combined experience of delivering over 16,000 beds across the UK, with a combined gross development value of c.£130 million.
Dan Spencer, founder of Torsion Developments, said: “With student numbers at both the University of Lincoln and Bishop Grosseteste University continuing to rise, we’re delighted to be playing our part in bringing highly sought-after PBSAs to the city. The experience with OakNorth was delightful, and we look forward to continuing to build the relationship with them.”
Damien Hughes, senior director of Property Finance at OakNorth Bank, said: “We’re delighted to be working with two such strong businesses in Harrison Street and Torsion Developments. They both have incredibly strong track records in this space and have clearly already demonstrated a strong product market fit with this new site. We look forward to continuing to support them with future projects.”
Harrison Street and Torsion were advised by JLL.
Plans to transform a large part of Derby city centre to create hundreds of new homes and commercial space have been lodged with Derby City Council.
Towards the end of last year, Derbion revealed ambitious proposals to regenerate two sites – the Eagle Quarter, made up of the current Eagle Market and Derby Theatre – and Bradshaw Way Retail Park.
As well as new homes, the plans also include shops, offices and public space. Now, two separate applications, seeking outline permission for both schemes, have been submitted to the city council.
A statement filed with the city council relating to the Eagle Quarter project said the scheme would secure “the long-term future of this part of Derby city centre with the repurposing of under-utilised and outdated buildings” and assist in “making Derby a more attractive option and compete with other regional centres.”
The Eagle Quarter site is primarily occupied by the Eagle Market, Derby Theatre and The Castle and Falcon pub.
Under the proposals, these would be demolished, or partly demolished, to make way for 875 homes and around 25,000 sq ft of commercial space.
Phase one of the Eagle Quarter development forms part of the Eastern Gateway scheme, planning for which was lodged with the city council last year.
The Eastern Gateway aims to improve public access to the city centre from Derby bus station, build a new entrance to Derbion on East Street, add additional shops and leisure outlets and create a new public boulevard.
The application for the Bradshaw Way Retail Park site features up to 420 homes, about 50,000 sq ft of office space and 5,100 sq ft of commercial space.
Before submitting the planning applications, Derbion held an exhibition just before Christmas to get feedback from the public on its proposals.
Speaking back in December, when Derbion first unveiled the plans, commercial director Beth McDonald said: “We believe that increasing the mix of uses across both the Eagle Quarter and Bradshaw Way sites would improve the vitality of the city centre, increase connectivity and encourage people to actively enjoy and engage with the developing spaces, creating a more attractive gateway experience for visitors.
“Our masterplan is the starting point for us to explore future opportunities over the next 10 years and beyond that will benefit both Derbion and the ongoing regeneration of Derby city centre.”
An East Midlands housebuilder has made a key senior appointment.
Redrow East Midlands, based in Castle Donington, has appointed Michael Coker as Manager Director. He brings more than 30 years’ industry experience to the role.
Michael is trained as a chartered builder and has a first-class degree in Construction Management from the University of Leeds. His new role will see him take responsibility for driving the division forward, by securing land opportunities, launching new developments and overseeing the progression of a large team.
Michael said: “My father was in the business from the mid-seventies and as such I have always been around housebuilding. The varied and complex nature of the industry makes it interesting but also at times challenging and I love a challenge. The industry is full of fantastic people and some amazing characters.
“I am thrilled to be working for Redrow in my new role. The brand was built by an individual passionate about our industry, our product, and our people, and that is still true of the business today. I am most looking forward to seeing our team develop in their roles and continue to progress at Redrow – it is a fantastic industry, and we need to do more to attract the next wave of housebuilders.
“The greatest challenge will be keeping everyone focussed on what is important in a tougher marketplace, both in terms of production and sales. The industry is under pressure to deliver more new homes in a more sustainable manner than ever before.”
Previously chief operating office for Kier Living/Tilia Homes, Michael worked with a large team of people to deliver the sale and transfer of Kier Living from the Kier Group and into the Terra Firma owned Tilia Homes.
Commenting on this achievement Michael said: “My greatest achievement so far in my career was actually a team achievement and that was delivering the sale of Kier Living. I worked with some superb people and a fantastic CEO to deliver 500 people to a new owner and a new future.”
Michael finished by saying: “There is no single most satisfying part to the role. The challenge is what gets me out of bed in the morning and the ability for people to sometimes deliver the impossible allows me to go home satisfied. I’m thrilled to be taking the helm of Redrow East Midlands and can’t wait to see what we achieve in the coming years.”
Accountancy and business advisory firm, BDO LLP, advised on in excess of 50 deals in 2022 across the Midlands and East Anglia.
Among these deals, a significant proportion of transactions involved private equity, with cross-border deals also featuring strongly.
Deals spanned a range of sectors, including consumer, technology, manufacturing, financial services, transport and logistics, healthcare and life sciences, as well as automotive and support services.
Roger Buckley, corporate finance partner, M&A, said: “When you consider the economic headwinds that have been blowing strongly against businesses in 2022, the regional deals market over the last 12 months has been extraordinarily resilient.
“Deals are still getting done across all sectors, particularly those where long-term macro-economic and social tailwinds are supporting long-term growth. Specifically, deal volumes in manufacturing, TMT and healthcare remain strong, as the adoption of technology continues at pace.”
Highlights of transactions in the Midlands and East Anglia include: advising on the sale of Dorsey Construction Material to Röko; acting as reporting accountant on one of only a handful of IPOs in the region in 2022 – the AIM listing of Aurrigo International plc; advising on the sale of LTC Trading Holdings Limited and its subsidiary Lodge Tyre Company to Halfords Group plc; acting for Nottingham-based Albumedix Limited on its sale to Sartorius Stedim Biotech GmbH; advising on the acquisition of Norwich-based Lifeline 24 by Appello; as well as acting for Ipswich-based Woodward Markwell Insurance Brokers on its sale to insurance broking giants GRP.
Vinny Patel, partner, transaction services, said: “Consistently, we see fantastic management teams in great businesses, and business owners who have faced the most enormous struggles in recent years, who have taken everything in their stride and thrived. When you also consider the quality of businesses we have in the region, then there are so many reasons to be optimistic for 2023.
“The good news is that many corporates continue to see M&A as a core part of their growth strategy and investors have abundant capital. M&A drivers remain strong, as acquirers pursue cost efficiencies, digital transformation, green transition, new technologies, new growth markets and scaling up to become more competitive. As valuations have also softened from the giddy days of 2021, companies and investors understand there will be opportunities to seize.”
Forterra, the manufacturer of clay and concrete building products, says it is “well positioned to withstand continuing uncertainty” after a “strong 2022 result.”
According to a trading update for the year ended 31 December 2022, results are expected to be slightly ahead of management’s expectations and also above pre-pandemic comparators.
Full year revenue of £450m is anticipated, 21% ahead of 2021 (£370.4m).
Stephen Harrison, Chief Executive of Northampton-based Forterra, said: “We are pleased with our strong performance in 2022 against a backdrop of severe cost inflation.
“There is considerable uncertainty as to the outlook for the UK housing market and accordingly demand for our products in the coming year. We did see signs of softening demand towards the end of 2022 and we are waiting to see how our customers’ spring new house selling season develops as the outcome of this is likely to be a key determinant of demand for our products during 2023.
“We remain confident that Forterra is well positioned to face this more challenging environment. The UK brick industry is ideally placed to displace imported products should demand fall, and with our new Desford factory we expect to benefit from the industry-leading efficiency this will offer. Alongside this, we retain a strong balance sheet with minimal debt.
“In the medium term we continue to expect to benefit from the attractive long-term UK market fundamentals of population growth, housing undersupply, a shortage of domestically-produced bricks and an increasing focus on the quality of housing stock.”
2022 saw sales increase at Eurocell, the manufacturer, recycler and distributor of window, door and roofline PVC products, though weaker markets are expected in 2023.
According to an update for the year ended 31 December 2022, group sales were £384 million, up 12% compared to 2021. The firm said that price was the key driver of sales growth.
The company noted that following a strong first six months of the year, new build, large contract and RMI project work continued to be robust throughout the second half of 2022. This was offset, however, by the impact of a cyber incident and a slowdown in smaller discretionary RMI work experienced by Eurocell’s branch network and trade fabricators in H2.
After a period of very strong demand, the Alfreton-based business believes the market is now returning to pre-pandemic norms.
In anticipation of weaker markets in 2023, Eurocell completed a restructuring programme in Q4 2022, which along with other cost saving measures, will reduce operating costs by approximately £5 million per annum from the start of 2023.
The firm also intends to temporarily pause its branch opening programme until the economic outlook is clearer.
Former Ilkeston Town chairman David Hilton has been appointed as chairman and owner of Scunthorpe United with immediate effect.
Hilton replaces outgoing owner Peter Swann, who had a ten-year period at the helm of the Iron.
Mr Hilton said: “I’m pleased to say the takeover has now been completed, and the deal includes the football club, stadium and surrounding land.
“The first job I’ve got to do over the next 48 hours is settle the winding up petition with the HMRC, which will help us get out of the transfer embargo we’re under, so we can bring some bodies in and strengthen the squad.
“Any remaining debts will be eradicated in due course and we’ll be looking to put the football club on a sustainable model as quickly as possible, while remaining competitive in whichever division we’re in.
“I can also add, if there is to be any development in and around Glanford Park, it will be purely for the benefit of the football club and to help it move forward, not for personal gain.
“It’s all been done very quickly, so there’s a lot I need to digest but I fully intend to interact with supporters. I just need a little bit of time for the dust to settle so I can understand the business fully.”
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 Sarah Parkin, director at Hollybeck.
What a 2022 it has been! In my 20 years in the mortgage industry, never have I seen such turbulence and chaos than that of the latter part of 2022.
And I believe that with interest rates continuing to rise, and property prices set to decline, 2023 will continue to have its challenges.
Experts predict a 5-7% reduction in property prices for 2023. This will stabilise a bullish property market and put the buyer back onto some equal footing after some serious bidding wars! After an increase of over 12% during 2022 for the East Midlands*, this is a welcome calming of the property market for first time buyers and those moving up the ladder.
Whilst the mortgage figures for house purchases will reduce in 2023, we expect a big increase in the ‘remortgage’ numbers. With around four million people set to come off fixed rates in 2023, it’ll be another busy year for mortgage brokers. People will be worried about their future interest rate and, as we have seen these past few months, more and more people will turn to brokers for advice.
Mortgage affordability is under pressure due to the cost of living and interest rates, with many mortgage lenders reviewing their affordability models. Customers will find that they cannot borrow as much as they could because of tighter affordability and so we expect to see higher numbers of customers sticking with their current lender, as no affordability checks are made when switching to a new rate. Lenders have shown us that they intend to reward customer loyalty with lower interest rates, which is great news for customers.
As an industry we’ve weathered many storms. There is no doubt that 2023 is going to be a tough year – our clients will be affected by many of the global issues affecting all families. We’ll keep a positive attitude, have a clear plan and work hard to come out of the other side stronger than ever.
*Source: Nationwide House Price Indicator.
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 Russell Rigby, director of commercial property specialists Rigby & Co.
Faced with a cost of living crisis, rocketing energy bills and further economic instability, it is going to be difficult to offer any cast iron predictions around any emerging trends in the commercial property market this year.
The only sector where I believe we will see spectacular growth is the flexible office space market. During 2022, more and more companies adopted hybrid working policies which drove demand in the flex workspace market, and companies using serviced offices hit a record level.
Demand for this type of space in the UK has increased by a staggering 25% in the last 12 months alone and shows no signs of slowing down.
Flex office space is no longer just the domain of start-ups and tech companies and big businesses are now rethinking their property strategies to support flexibility to help retain and attract talent.
Further economic-driven uncertainty will continue to influence office businesses keen to incorporate flex space into their workplace strategy as more and more occupiers move to a more agile dynamic way of working and I predict that this market will be the strongest performing sector in 2023.
I expect to see more and more office occupiers, aware of the tough times ahead, placing greater emphasis on team cohesion and productivity. High quality managed workspaces such as Cubo and Connect Derby create an environment and spaces that encourage staff interaction and collaboration and will continue to attract an enticing mix of businesses.
The introduction of new Government regulations this year will also see a scheme’s ECG credentials become an increasingly important factor for office occupiers.
Following a successful and record year in business, recruitment consultancy Prescient Group has announced its growth and expansion plans for the next three years.
As 2022 saw the business increase its turnover by 107% – with plans to grow this by another 96% this year – seasoned recruiters Joel Fletcher, Charlotte Churm and Ed Robinson have appointed Paul Jacobs as non-executive director to support the delivery of their strategic goals and fast growth plans.
Co-founder and director of Jump Advisory Group, Paul has more than 40 years’ experience working within the recruitment industry – successfully accelerating growth for multiple businesses – having held previous positions as Managing Director of Office Angels and LoveWorkLife Recruitment.
Within the last month the Prescient team has grown from eight recruitment professionals to 11 – with the additional of Paul and consultants Alex Payne and Craig Catley joining the Manchester office. The firm plans to expand by a further nine employees this year and is currently recruiting for three Nottingham roles – including a temps consultant, resource and delivery consultant and an internal digital marketing manager.
To accommodate the team growth, the Nottingham office has moved to a bigger space within Bridlesmith Walk – which is their third move since 2020 – and the Manchester office is also moving for a third time within Spinningfields.
Having built up a portfolio of 80 UK and international clients, Prescient Group grew its client base by 86% in 2022, in comparison to 2021. As part of its three-year plans, the company will look to expand its services across the software solutions, law, transport, financial, banking and accountancy, property, digital marketing services and energy sectors.
Director Joel Fletcher said: “Last year was a record year in business for us and as we reflect on our plans for 2023 and beyond, it’s amazing to see all that we have achieved in such a short time.
“To help us accelerate our strategy, business goals and ambitious growth plans we have appointed Paul, who has a successful track record in developing strategies to enable businesses to scale up at a fast pace.
“We set out to create and be known as a highly respected and ethical recruitment consultancy and myself, Charlotte and Ed are very proud of not only our success, but the brand and team we have built. We’re looking forward to seeing more of our vision and plans come to life this year.”
Mercia Asset Management – the capital providers to SMEs – invested over £120m in 159 companies during 2022, with 79% going to businesses outside London.
Mercia, which is based in Henley-in-Arden, invested £17.4m in 24 Midlands businesses during the year. They included Leicester-based HR tech StaffCircle, Loughborough-based rebate management platform e-bate and Marriott Drilling Group of Chesterfield.
Dr Mark Payton, CEO of Mercia, said: “Approximately 60% of the capital we manage is in venture focussed on young businesses with significant growth potential. Venture capital plays an important role in developing the industries of the future but with the majority of funding focused on London, the remaining regions of the UK continue to be underserved. Through our Venture funds and teams operating across the UK, we aim to address that gap.
“Despite the near term economic headwinds as a nation we face, we passionately believe in continuing to support new businesses and our existing portfolio. While many other funders have become more risk averse, Mercia will continue to invest throughout 2023 and we look forward to supporting many more businesses, through our national network of offices across the UK, in the year ahead.”
In 2022 Mercia also successfully exited some of its earlier investments including Sheffield-based Faradion, a world leader in sodium-ion battery technology, which was acquired for £100m by Indian conglomerate Reliance Industries.
During the year Mercia acquired Birmingham-based SME lender Frontier Development Capital (FDC) in a deal that took its assets under management to circa £1.4bn. It also opened new offices in Bristol and Hull.
East Midlands Freeport (EMF), the UK’s only inland Freeport, has appointed Tom Newman-Taylor as CEO.
Tom is an experienced senior leader in Government having latterly held positions in the Department for Levelling Up, Communities and Housing (DLUHC) and Department for Transport. He has a strong track record in delivering major commercial and strategic projects across the transport, energy and housing sectors, within and outside Government.
As a Deputy Director in the Maritime Directorate he established and ran the cross-Government Critical Freight Taskforce, preventing a catastrophic failure of international and domestic freight networks during COVID-19. This included implementing a multi-million subsidy regime for the international freight sector.
He has developed strategies for Government across housing and transport, including a long-term environmental strategy for the maritime sector as part of the Government’s Maritime 2050 Strategy. Earlier in his career he also helped deliver billion-pound Government investments into train and railway improvements.
He spent a period in industry as Commercial Projects Lead with Associated British Ports where he was responsible for establishing ABP’s port master planning programme, delivering long-term commercial and geospatial plans for ports across the country.
In announcing the appointment, EMF Chair, Nora Senior CBE, said: “We are delighted to have attracted an individual of the calibre and with the experience that Tom brings. His knowledge of Government departments and policies will be a significant advantage in allowing the Freeport to access and build on trade and innovation opportunities to the benefit of prospective occupiers on the site.”
Tom Newman-Taylor added: “I am hugely excited by the potential which EMF offers to bring growth to a strategically significant part of the UK. A successful Freeport will bring lasting benefits to the East Midlands by attracting significant new investment and creating high quality jobs for the communities who live around our sites. I cannot wait to help realise this ambition and help bring together local public and private sector partners on behalf of the East Midlands and the UK.”
Tom starts his position with EMF in March.
SPLtrack, a Leicestershire-based environmental consultancy, has been acquired by Hydrock, a British-owned integrated engineering design, energy and sustainability consultancy.
Founded in 2013 and led by Chris Beale, SPLtrack delivers real-time noise, vibration, and air quality monitoring data, supporting industries such as motorsport, live music and construction achieve strict regulatory compliance.
Ric Hampton, regional director and director of acoustics and air quality at Hydrock, said: “This is a fantastic addition to the acoustics and air quality division. We’re over the moon to have the opportunity to add such specialist expertise to our already high-performing team.
“With clients such as Silverstone and MSV circuits, we’re able to accelerate our capabilities in real-time environmental monitoring and play an important role in addressing the public health crisis and meeting new WHO guidance.”
Chris Beale, director of SPLtrack, said: “SPLtrack has taken the leap from a small but successful independent company to join the wealth of skill and experience that is Hydrock.
“The SPLtrack team are excited to work with new colleagues to unlock the strength of our technologies, the ADAhub platform, and to bring new opportunities to the group. Personally, I am delighted to be working alongside engineers that I have known for many years within a company I greatly respect.”
Car retailer Pendragon has hailed a positive fourth quarter as financial performance was slightly ahead of expectations.
In a new trading update for the year ended 31 December 2022, the Nottingham-headquartered company said a strong Q4 underlying trading performance more than offset higher operating and interest cost pressures.
The firm added that trading during the quarter was underpinned by strong volume growth in new cars, with the group delivering like-for-like volume growth of 4.6%, and outperforming the retail new car market growth of 1%. Used car volumes also grew by 5.2% on a like-for-like basis in Q4, a notable improvement on the declines seen in the third quarter.
As a result of this performance, group underlying profit before tax for the year is expected to be approximately £57m, down from £83m in 2021, but slightly ahead of market expectations.
Bill Berman, Chief Executive of Pendragon, said: “We closed out the year with a positive performance in the final quarter, which saw volume growth in both new and used vehicle sales.
“Despite the numerous challenges we have faced across our markets and in the economy at large, we performed strongly in 2022 and this shows the benefits of the improvements made across the business in recent years.
“Whilst market challenges will persist in 2023, we enter this new year with confidence and good momentum, and we look forward to making further progress against our strategic objectives.”
Last month Hedin Group abandoned its £400m takeover bid for Pendragon, due to challenging market conditions and an uncertain economic outlook.
Melton Mowbray-based sustainability specialist, Clean Air Power, is part of a consortium that has successfully secured £250,000 to deliver a major clean maritime project.
Clean Air Power is working alongside global engineering consultancy MAHLE Powertrain and the University of Nottingham, to help develop potential green propulsion systems for marine users such as the Royal National Lifeboat Institution (RNLI). The project, named HyJet, is now under way.
The funding has been secured via Innovate UK, a non-departmental public body which provides money and support to organisations to make new products and services.
The consortium will explore the use of sustainable fuels, such as green hydrogen, methanol or ammonia, that would produce zero or near zero pollutants in smaller marine engines. The RNLI has an overall fleet of 400 vessels including all-weather lifeboats and inshore rescue vessels.
Clean Air Power are specialists in decarbonised fuelling and will develop and supply the engine’s fuel injection systems, through its DigiJet range of valves and injectors.
Dan Skelton, Managing Director of Clean Air Power, said: “We are thrilled to be a partner in this successful bid, and are looking forward to working with the RNLI and the other partners to investigate potential sustainable solutions for the future. We have two decades of experience working on innovative injection and fluid control projects and are pleased to see this expertise recognised, both by our sustainability partners and the UK authorities, as we move to net zero with the marine sector.”
Innovate UK offered funding via the Clean Maritime Demonstration Competition. HyJet was one of 22 projects to win funding out of a total 45 applicants.
The HyJet project is part of the Clean Maritime Demonstration Competition Round 2 (CMDC2) which was launched in May 2022, funded by the Department for Transport and delivered in partnership with Innovate UK. As part of the CMDC2, the Department allocated over £14m to 31 projects supported by 121 organisations from across the UK to deliver feasibility studies and collaborative R&D projects in clean maritime solutions.
The CMDC2 is part of the UK Shipping Office for Reducing Emissions (UK SHORE) flagship multi-year CMDC programme. In March 2022, the Department announced the biggest government investment ever in our UK commercial maritime sector, allocating £206m to UK SHORE, a new division within the Department for Transport focused on decarbonising the maritime sector. UK SHORE is delivering a suite of interventions throughout 2022-2025 aimed at accelerating the design, manufacture and operation of UK-made clean maritime technologies and unlocking an industry-led transition to Net Zero.
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One Waterside Place provides bespoke office accommodation for established businesses – offering a modern base for ambitious companies looking to grow and thrive in a central and well-connected location.
The 35,000 sq ft building delivers Grade A, large floorplate office accommodation, which does not exist elsewhere in Chesterfield. The building incorporates two passenger lifts, raised access flooring, air conditioning, LED lighting, a high-quality entrance foyer, showers, on-site cycle parking facilities as well as attractive public realm and landscaping.
The building has been designed with sustainability in mind, boasting a BREEAM score of Very Good and an EPC A rating for its energy performance. The ground floor has been designed to create a new retail or leisure space close to the train station.
Peter Swallow, Managing Director of Bolsterstone Group Plc, which project managed the delivery of the office and is delivering the Chesterfield Waterside scheme, said: “We are delighted to have worked with Chesterfield Borough Council to deliver this landmark building.
“Britcon began construction of One Waterside Place amidst the pandemic which brought many challenges in terms of staffing, health and safety and supply of materials. However, they have delivered an exceptional building which they have also used as a learning experience for local students during the build, following an initiative from the council.”
One Waterside Place sits within the £75 million first phase of the Basin Square neighbourhood of the £340 million Chesterfield Waterside regeneration scheme. Once complete, the Basin Square neighbourhood will also comprise 320 Built-to-Rent apartments, a 400-space multi-storey car park, a 140-bed hotel, retail and leisure units.
This area will be landscaped to a high quality standard with the canal basin being at the heart of the scheme, creating a great environment to spend time in on the edge of the town centre alongside a central community hub for occupiers and residents of the Chesterfield Waterside scheme.
The canal basin site has been brought forward with support from the South Yorkshire Combined Authority Infrastructure Fund. One Waterside Place was funded by Chesterfield Borough Council.
