New appointment set to strengthen college links with employers
North Warwickshire and South Leicestershire College (NWSLC) is set to be further strengthened by the appointment of a new member to its executive team. Paul Lawrence will join the college as executive director of business development and employer engagement with a brief to build on the organisation’s industry and education partnerships.
Paul, who is currently director of strategic partnerships and external relations at York College, is expected to take up his post in November 2022. He said: “I am delighted to be joining the team at NWSLC and very much look forward to working at the heart of the college’s continuing drive to support the business community in the context of challenging economic circumstances.
“Further education is well placed to support the UK’s recovery agenda, which is focused on enabling the economy to grow, addressing the energy crisis, and climate change emergency, and supporting the NHS.
“The economy benefits from a skilled workforce that helps to boost productivity. NWSLC provides access for employees to a range of training and upskilling opportunities such as apprenticeships, including via the Apprenticeship Levy, free online learning, and the Lifetime Skills Guarantee.
“The college is already making fantastic progress in its support for the automotive industry as the switch to electric vehicles gathers pace. And with a wealth of experience in training individuals for careers in health and social care, NWSLC is helping to provide a skills base for the NHS at the heart of local communities.”
Paul has a background in strategic planning and business strategy and has experience of working in the charity sector as well as in higher education.
Paul added: “I am looking forward to collaborating with businesses of all sizes to explore ways in which we can work together effectively during these times of unprecedented change. I am keen to see how NWSLC’s fantastic team and resources can add further value to its local and regional communities.”
Marion Plant, OBE FCGI, principal and Chief Executive, said: “I am delighted with the appointment of Paul Lawrence to the role of executive director of business development and employer engagement. We are confident that Paul will bring a wealth of experience and help us to build on our success.
“NWSLC has already built strong collaborative partnerships within the automotive industry, the logistics and supply chain sector and in the digital skills arena. There has never been a more crucial time to invest in skills and we look forward to widening our reach across the region as we work to support more employers than ever before.”
East Midlands manufacturers call for seismic Emergency Budget as growth forecasts for 2023 slashed
East Midlands manufacturers are calling for a seismic emergency Budget on Friday on the back of a substantial revision downwards of prospects for 2023 in response to the eyewatering increase in energy and other business costs companies are facing.
The revision downwards comes in the Q3 Make UK/BDO Manufacturing Outlook survey which is forecasting growth for manufacturing of just 0.6% in 2023, down from 1.7% being forecast as recently as June. Make UK has also slashed its GDP forecasts from 3.6% this year to just 0.3% in 2023.
In the last quarter, the performance of manufacturers in the East Midlands held up reasonably well compared to the national picture with output and total orders well above the national averages. However, in line with the national outlook export orders have dropped significantly. According to Make UK and BDO the East Midlands has held up reasonably well to date due to its exposure to the food and drink sector which has recovered strongly since the pandemic.
Looking forward, however given the potential for the economic situation to deteriorate and force the sector into recession next year, Make UK re-iterated its call for Government to bring forward a ‘shock and awe’ package of policy measures on a scale in line with those seen during the worst points of the pandemic. This is essential to prevent a permanent scarring of the economy, help protect viable companies in the East Midlands and avert significant job losses.
The measures in the statement tomorrow must set out concrete and specific actions to help business deal with escalating energy costs, as well as a range of measures to aid cashflow, provide greater access to Labour and encourage investment, especially in energy efficiency technologies.
In a worst-case scenario of companies being asked to stop production or, a reduced working week, Government should also introduce an energy furlough scheme similar to that introduced during the pandemic.
Commenting, Charlotte Horobin, region director for Make UK in the Midlands, said: “Whilst industry has recovered strongly over the last year, the storm clouds are gathering in the face of eyewatering costs and a very difficult international environment. This threatens to shatter expectations of a sustained recovery from the pandemic and put many perfectly viable businesses in the East Midlands at risk.
“Clearly some of the factors impacting companies are global and cannot be contained by the UK Government alone. However, we have already wasted a substantial amount of precious time over the summer playing the fiddle while Rome has started to burn. As a result, urgent and decisive action is needed by the Chancellor to help shield the economy and protect companies and jobs, otherwise we risk a permanent scarring of the economy.”
Jon Gilpin, head of manufacturing at BDO in the Midlands, said: “We are seeing continued resilience from manufacturers in the East Midlands with strong output and orders. However, input prices remain at near record levels for the second quarter in a row as profit margins continue to fall. The manufacturing sector needs clarity on the new Government’s long-term plans to support businesses as soon as possible.
“The new Government must understand and respect the precarious position UK manufacturers find themselves in. The huge energy costs alone are cause for further support. Manufacturing needs clarity on the level of government support they can expect.”
The immediate measures being proposed by Make UK include:
- Reverse the decision to increase National Insurance Contributions that came into force in April 2022.
- Extend the business rates relief to include manufacturing and extend to the end of 2023
- Simultaneously undertake a full and fundamental reform of Business Rates
- Expand the current tax exemption for work-related training into a Training Investment Allowance, providing a tax rebate on investment in training for existing employees
- Commit to a full review of the Apprenticeship Levy
- In order to help companies invest make the increase to the Annual Investment Allowance permanent
Employee inspires fundraising of nearly £500k for mental health charity
An employee in Loughborough from business management software provider, The Access Group, has inspired the company to raise £448,738 for mental health charity Bipolar UK after sharing the story of her daughter who lives with bipolar.
After hearing about Hannah, 36, from her mum Jo Battisson, who has worked for the Access Group for nearly four years, employees voted to partner with Bipolar UK as their Charity of the Year. In 12 months, they rallied together to fundraise the life-changing amount of money and help improve the lives of thousands of people living with bipolar around the UK.
Employees from the UK supported the campaign through their Access salary ‘round to the pound’, employee lottery and ‘Give as You Earn’ apps.
Many of Jo’s colleagues also undertook individual challenges including climbing Snowdon, jumping out of planes, walking 125 miles over 5 days from London to Loughborough and cycling in the London Nightrider event. Every pound raised by staff was matched by the Access Group.
Speaking about the partnership, CEO of Bipolar UK, Simon Kitchen, said: “Bipolar can be a devastating condition but with the proper treatment and support, we know that people can live well.
“With over 1 million people living with bipolar in the UK, we want to help as many of them as possible and ensure they have access to vital peer support services. We are extremely grateful to everyone at the Access Group for their incredible fundraising efforts.”
The money raised will help Bipolar UK meet the growing demand for their services, increase the provision of their call-back and email Peer Support Line, reopen in-person Peer Support Groups across the country and support even more people affected by bipolar through their eCommunity, website and weekly newsletters.
The charity, the only dedicated national charity supporting people affected by bipolar, currently supports around 100,000 people a year. With an estimated one million-plus people living with bipolar in the UK, money raised through the Access Group will help support even more people living with the condition and their families.
Funds raised will also support the work of the Bipolar Commission which aims to dramatically reduce the number of lives lost to suicide by people living with bipolar. Launched in March 2021, the commission works with the bipolar community to identify challenges in the healthcare system, identify ways to improve self-management and reduce suicidal thinking.
As well as raising funds, The Access Group partnered with Bipolar UK to create an interactive ‘Understanding Bipolar’ eLearning course. This is being used across the company to educate employees and clients, and from the end of September 2022, will be a lasting resource on Bipolar UK’s website for anyone who wants to learn more about bipolar.
Speaking about Bipolar UK’s work, eLearning designer Jo said: “The support and guidance I’ve had from Bipolar UK has given me the skills I need to support Hannah in the best way possible.
“When we discovered that the Access Group had voted for Bipolar UK as their Charity of the Year we were completely overwhelmed and we know first-hand how important Bipolar UK is, and how much it improves the lives of people living with this challenging condition.”
Derby film studio plan gets go-ahead
Plans by a film production company to use a former factory site in the city to make movies have been given the go-ahead by Derby City Council.
Back in May, it was revealed that MARV Studios, which is behind such films as Kingsman, Stardust and Rocketman, had approached the city council to create a state-of-the-art facility at the former Aida Bliss factory, in Chester Green.
The city council has now given the go-ahead on temporary plans for part of the site to be used for “film-making purposes” for a period of nine months.
The plans come after the council rubber-stamped long term plans to sell the derelict City Road building so it can be turned into a new film studio and “Europe’s first film and stunt academy” – subject to planning permission and a business case being worked up.
At the time, Councillor Chris Poulter, leader of the city council, said: “This is an immensely exciting prospect for Derby, and a very different suggested use for the Aida Bliss site.
“MARV Studios would be a fantastic media brand for us to attract to Derby, putting us on the map as a key player in the creative media sector.”
Marv Studios is planning to invest £13 million in the vacant building in the long term.
A separate planning application is set to be submitted outlining the company’s long-term visions for the building.
It would be purpose-built and include a film studio, a fitness and rehabilitation centre, including a publicly accessible gym and sports facility, along with Europe’s first ever dedicated stunt training facility.
According to MARV Studios, the site would generate economic and social benefits of more than £12 million a year.
The Aida Bliss site, which has stood empty for almost 20 years, was acquired by the city council in 2018 to enable the construction of a new flood wall as part of the ‘Our City Our River’ scheme.
Speaking back in May, Damien Walters, a spokesman from MARV Studios, said: “The academy will provide new studio space for MARV, the production company behind the Kingsman film franchise, and other leading international film and TV productions.
“In addition, it would accommodate Europe’s first stunt training academy, and also provide a National Centre of Excellence in areas of tumbling, trampolining and martial arts and parkour.
“Core to delivering the Centre of Excellence will be the opportunity for a wide range of local people and organisations to use the facility, from schoolchildren in Derby to world-class, high-performance athletes.
“This will support grassroots and community sports, as well as elite athletes and Olympians.”
Government outlines plans to help cut energy bills for UK businesses
New support for businesses facing rising energy bills has been unveiled by Business Secretary Jacob Rees-Mogg today (Wednesday 21 September), to support growth, prevent insolvencies and protect jobs.
Through a new Government Energy Bill Relief Scheme, the Government says it will provide a discount on wholesale gas and electricity prices for all non-domestic customers (including all UK businesses, the voluntary sector like charities and the public sector such as schools and hospitals) whose current gas and electricity prices have been significantly inflated in light of global energy prices. This support will be equivalent to the Energy Price Guarantee put in place for households.
It will apply to fixed contracts agreed on or after 1 April 2022, as well as to deemed, variable and flexible tariffs and contracts. It will apply to energy usage from 1 October 2022 to 31 March 2023, running for an initial six-month period for all non-domestic energy users. The savings will be first seen in October bills, which are typically received in November.
As with the Energy Price Guarantee for households, customers do not need to take action or apply to the scheme to access the support. Support (in the form of a p/kWh discount) will automatically be applied to bills.
To administer support, the Government has set a Supported Wholesale Price – expected to be £211 per MWh for electricity and £75 per MWh for gas, less than half the wholesale prices anticipated this winter – which is a discounted price per unit of gas and electricity. This is equivalent to the wholesale element of the Energy Price Guarantee for households. It includes the removal of green levies paid by non-domestic customers who receive support under the scheme.
The level of price reduction for each business will vary depending on their contract type and circumstances:
- Non-domestic customers on existing fixed price contracts will be eligible for support as long as the contract was agreed on or after 1 April 2022. Provided that the wholesale element of the price the customer is paying is above the Government Supported Price, their per unit energy costs will automatically be reduced by the relevant p/kWh for the duration of the Scheme. Customers entering new fixed price contracts after 1 October will receive support on the same basis.
- Those on default, deemed or variable tariffs will receive a per-unit discount on energy costs, up to a maximum of the difference between the Supported Price and the average expected wholesale price over the period of the Scheme. The amount of this Maximum Discount is likely to be around £405/MWh for electricity and £115/MWh for gas, subject to wholesale market developments. Non-domestic customers on default or variable tariffs will therefore pay reduced bills, but these will still change over time and may still be subject to price increases. This is why the Government says it is working with suppliers to ensure all their customers in England, Scotland and Wales are given the opportunity to switch to a fixed contract/tariff for the duration of the scheme if they wish, underpinned by the Government’s Energy Bill Relief Scheme support.
- For businesses on flexible purchase contracts, typically some of the largest energy-using businesses, the level of reduction offered will be calculated by suppliers according to the specifics of that company’s contract and will also be subject to the Maximum Discount.
Gateley appoints new partner in Nottingham
Legal and professional services group Gateley has appointed a new partner in Nottingham.
Phil Jelley joins as a partner in the pensions team, bringing with him more than 23 years of experience within the industry, and he will be based at Gateley’s office on The Ropewalk in the city centre.
Phil, who went to university and law school in Nottingham, joins from Dentons where he worked as Counsel, having previously spent 14 years at Norton Rose Fulbright, also as Counsel. Phil’s role as partner for Gateley will involve advising trustees and employers in connection with their legal obligations in running a variety of pension schemes, as well as on the pension aspects of corporate transactions, and pension litigation matters.
Phil Jelley said: “The work the team at Gateley carries out in the pensions space is very highly regarded across the sector, so this is a great opportunity to be part of its continued success. Having spent much of my career in London, I am looking forward to returning to Nottingham as a dedicated pensions lawyer for the East Midlands and supporting the pensions team nationally.”
Michael Collins, partner and head of Gateley’s pensions business, said: “We are excited to welcome Phil to Gateley. The wealth of experience he has in the pensions space means he will be a fantastic asset for us and equally for our clients.”
“Strong first half” for Pendragon
Pendragon, the Nottingham car retailer, has “made a really encouraging start to the year” with a “strong set of financial results,” according to the firm’s CEO.
Newly released half year results show that group revenue hit £1.84bn, up from £1.81bn in the same period of 2021.
Meanwhile underlying profit before tax dipped slightly to £33.5m from £35.1m, whereas reported profit before tax grew to £32.9m from £30.8m.
Bill Berman, Chief Executive Officer, said: “We have made a really encouraging start to the year which is reflected in a strong set of financial results and continued momentum across the business. Good progress has again been made in the delivery of our strategy, including the brand relaunch of our used car business and multiple technology releases by Pinewood.
“We have transformed our digital capabilities over the past two years and this, combined with significant improvements to our operations, means we are well placed to offer our customers the best possible experience.
“We have delivered these results in the face of challenging trading conditions in our sector due to supply constraints on both new and used vehicles and the impacts of inflationary pressures.
“We expect the environment to remain challenging in the second half of the year, however we take confidence from how we have performed in the last six months and expect to make further positive progress towards our long-term goals this year.”
LDC further expands East Midlands team
Mid-market private equity firm LDC has grown its team in the East Midlands and East of England with the appointment of Simon Peacock as investment director and Mikayil Salahov as investment manager.
Simon joins LDC following more than 15 years at Alantra, an investment banking and asset management firm focusing on the mid-market. As a partner there, he advised companies on both a regional and sector basis, including consumer, industrials and business services, to help ensure the smooth completion of M&A transactions.
He also has extensive experience within the food industry, as director of food & drink at Catalyst, prior to its acquisition by Alantra, following eight years as a finance manager at United Biscuits.
As an investment director, Simon will be responsible for identifying potential investment opportunities, leading transactions and supporting the management teams of LDC’s portfolio businesses as they pursue their growth ambitions.
Mikayil joins LDC as an investment manager from PwC’s Transaction Services practice in Reading, where he focused on large cap and mid-market transactions. His experience spans several sectors, including technology media and telecoms, business services and retail.
Simon and Mikayil are the second and third additions to LDC’s East Midlands and East of England team – led by partner David Bains – during the last six months, following the appointment of investment manager Nicole Wong in April. All three are supporting LDC’s commitment to increase its activity and support of mid-market businesses across the region.
David Bains, partner and head of LDC in the East Midlands and East of England, said: “Our East Midlands and East team has always been an important part of LDC investing more than £500m over a sustained period of time to help management teams grow their businesses. In a further sign of commitment to the region, we now have the largest team we’ve had here, and its collective enthusiasm, expertise and local insight will help us to support more ambitious mid-market business leaders than ever. “Simon and Mikayil bring with them a wealth of experience in building thriving relationships and supporting businesses across a wide variety of sectors, which will add a lot of value to the management teams we back.”
Simon Peacock, investment director at LDC, added: “LDC’s track record of supporting companies to realise their potential and grow at scale speaks for itself. Coming from an advisor background, I’m looking forward to having more of a role in the decision-making process and, as a long-term Nottingham resident myself, am excited to play a part in helping local management teams to achieve their ambitions.”
Sneak peak: Behind the scenes with East Midland’s no.1 video production company
Glowfrog Video Production won the 2022 Best Business award from ThreeBestRated and are considered the very best video production company in the East Midlands, both for production quality and value.
Having just launched this year’s showreel advert, Glowfrog have now released a sneak peak behind the scenes video, offering an interesting insight into how they film with businesses across the region.
This particular video shows their set-up for producing YouTube videos on behalf of their Derby client, Create Finance.
Check it out and see what goes into making your business look top quality on video. If you’re interested you can find more of their work at www.glowfrogvideo.com.
Majority share in payment solutions provider snapped up
Manx Financial Group has acquired a 50.1% stake in Melton Mowbray-based Payment Assist Limited in a £4.2m deal.
Payment Assist was set up by Neil Jeffery and Colin Ellard in 2013 to capitalise on the opportunity in the automotive sector to improve garage customer retention rates by providing a user-friendly method of enabling customers to spread their payments over time. Payment Assist was granted its FCA permission in October 2014.
Following the acquisition, Neil Jeffery and Colin Ellard will remain as directors of Payment Assist, whilst Douglas Grant, Denham Eke and James Smeed will join the board with immediate effect.
Douglas Grant, CEO of the group, said: “We have worked with Payment Assist for over seven years through our banking subsidiary, Conister Bank Limited. During that time, we have developed an ever-closer relationship, so a joint venture was the natural next step to support Payment Assist achieve their growth ambitions.
“Their customer focused, short-term lending products, were in great demand during the pandemic and are equally as relevant today during these uncertain economic times. This is a major acquisition for the group, not only in terms of deploying our liquidity safely, but also in continuing to progress our growth strategy.”
Neil Jeffery, Chief Executive Officer of Payment Assist, said: “We are delighted to have completed this transaction and to embark upon this exciting new chapter. Having worked with Conister Bank for a number of years, we are confident that this partnership will enable Payment Assist to continue to grow as one of the leading point-of-sale lenders in the United Kingdom.”
East Midlands Accelerator helps 340 businesses with net zero plans
More than 340 businesses across the East Midlands have so far been supported in the development of their sustainability plans, as a result of the net zero strand of the East Midlands Accelerator project.
East Midlands Chamber, together with a project consortium of the region’s universities and business support agencies, is delivering the Net Zero Accelerator project, which helps organisations with changes such as reducing their carbon footprint, switching to electric vehicles and creating sustainability action plans.
Throughout the spring and summer, the project, which is part-funded by the UK Government through the UK Community Renewal Fund and led by the local authority in each region, has offered grant funding, growth vouchers and fully-subsidised training to businesses in the eligible areas of Derbyshire Dales, High Peak, Mansfield, Bassetlaw, Newark and Sherwood, Nottingham city and Leicester city.
East Midlands Chamber deputy chief executive Diane Beresford said: “A key condition for a business receiving grant funding through the East Midlands Accelerator project is that it must commit to starting its sustainability journey. The Chamber has supported this process by enabling businesses to access the valuable support on offer from the region’s universities and other partners.
“Businesses recognise that greener practices make business sense – not just because of the long-term efficiency gains, but because presenting a clear sustainability strategy is becoming increasingly important when it comes to winning new contracts and customers.
”Once businesses have a top-level sustainability plan in place, they will need capital funding to change their infrastructure accordingly, as well as ongoing training. I’m hoping that local authorities will address this as part of their Shared Prosperity Fund plans.”
Net Zero Accelerator support has been wide-ranging, and includes:
- Support on making the switch to electric vehicles through the University of Derby’s Cenex Electric Fleet Transformation scheme.
- Support on carbon reduction and environmental management from the region’s universities. Carbon and environmental management consultancy and training have enabled businesses to work towards carbon literacy accreditation and the bronze level of the Investors in the Environment standard.
- Net zero student placements and sustainability audits in partnership with the three Leicestershire universities, giving businesses firm plans on where they might take action.
- Support from the Zellar sustainability platform, with East Midlands Chamber investing in 400 annual software licences to give SMEs the opportunity to track, measure and promote their sustainability activities, whether that be, for example, the appointment of a green champion, an audit of travel emissions, or the installation of LED lighting. So far, 336 businesses have registered their interest.
- Specialist sector support from two of the project’s partners. Food and Drink Forum experts offer decarbonisation and sustainability support to help food producers assess how they can reduce environmental impact by making changes to their production space and processes. Marketing Peak District and Derbyshire offers specialist one-to-one business support to help visitor economy businesses reduce their carbon footprint and achieve “clean, green growth”.
New HR lead sails into Nottingham Venues to spearhead drive for talent
Nottingham Venues, the new name bringing meetings, events, hotel stays and a collection of venues across the University of Nottingham’s campuses under one brand, has appointed a new director of human resources.
Suzie Adams joins the organisation, which has close to 250 employees across its various sites, after a career spent with some of the world’s biggest cruise line companies, including the Ritz-Carlton Yacht Collection.
It was there where she was headhunted to establish best practice and policies for its people management as it sought to become the best in the industry, which is a similar mission to her new one with Nottingham Venues, as general manager Tom Waldron-Lynch, explains: “We are on a journey of growth and independence where we talk about being ‘One Destination with Endless Possibilities’.
“A major part of that journey requires the best possible talent to join us as we strive to lead the field in our offering to guests and employees.
“Attracting someone of the calibre of Suzie is a big part of that, as she has incredible experience in both moulding and creating outstanding career experiences in the hospitality industry. We know that we have a superb guest experience across our venues and we want to create that same experience for our staff. Suzie will be invaluable in doing just that.”
After a career on the ocean before returning to dry land to establish the HR department at the Ritz-Carlton Yacht Collection, Suzie will now help Nottingham Venues to attract, retain, train and inspire its growing team.
Suzie says: “This is a wonderful opportunity to come into an organisation that is in a transitional phase from its previous corporate structure to a more independent approach. We all know that the pandemic presented the hospitality industry with a wide-ranging set of challenges and staffing is certainly one of them and remains so.
“However, here at Nottingham Venues we have a chance to create something truly special and unique for our growing team and I cannot wait to be part of this. There are already fantastic initiatives in place, including the ‘real living wage’, free meals when on shift and the ‘Top Of The Tree’ employee recognition scheme. My goal now is to work with Tom and his teams to create an experience that is truly remarkable and that will make us as much of a destination for talent as we already are for our guests.”
Renewable energy distributor signs up to Leicester scheme
Joint venture partners, Graftongate and BlackRock have announced the arrival of one of the UK’s largest distributors of renewable energy systems at Leicester Distribution Park (LEDP).
Glasgow-based CCL Energy Group has completed a 10-year lease on Unit 6, a newly built distribution and logistics unit of 45,000 sq ft.
CCL Components Ltd is the largest independent distributor in the UK and is involved in the technical distribution of a wide range of renewable energy products worldwide.
It will jointly occupy the new unit with sister company LinQ Logistics Ltd, a third-party logistics and stock management company that services CCL Energy Group and other businesses.
Graftongate and BlackRock have delivered eight Grade A logistics units at LEDP during three phases of development, with a total combined area of 700,000 sq ft.
Four of the buildings were constructed in the final phase of development, each containing strong sustainability features being built to carbon neutral construction and operational standards. They include PV solar panels, EV charging points, rainwater harvesting, sustainable drainage systems and intelligent energy monitoring.
Unit 2, a 150,000 sq ft distribution and logistics building, is the final unit available for occupation at the scheme and is currently available.
Graftongate director, Colin Beasley said that LEDP’s location in the heart of the Golden Triangle had generated consistently high interest from prospective occupiers.
He said: “We’re very pleased to have completed the letting of Unit 6 to CCL Energy Group. Its arrival not only complements the high calibre of occupiers that have chosen to grow their businesses at LEDP but supports our decision to speculatively build out a mid-box scheme in Leicester.
“We are continuing to see an appetite for distribution and logistics accommodation of this quality in the region and are confident of letting the final available building shortly. It will mean that all four new units in the final phase of development have been let within six months of practical completion.”
Construction recruitment specialist set to grow following £2.5m funding package
Lincoln-based business Clements Young, which offers recruitment services for the construction and M&E sectors, has secured a £2.5m finance deal with NatWest.
The investment deal will enable Clements Young to explore opportunities to grow the business, including recruiting a number of new internal staff and expanding into regional locations across the UK.
Founded in 2018, Clements Young has supported more than 130 customers within the construction and building services industry, working closely with clients and candidates to build relationships, understand the business need and ensure a beneficial employment outcome for both parties.
Matthew Jones, Managing Director at Clements Young, said: “As the business grew organically over the last few years, it became increasingly important that we secured a new finance solution that matched our needs and future ambitions. This new funding line gives us the flexibility and freedom to explore new opportunities, which really puts us in control of our own destiny.
“The team at NatWest have been invaluable in terms of their advice and support in terms of helping us move from a previous provider. Throughout, I’ve been able to pick up the phone and speak to the team, so it’s felt like a seamless transition for us and this personal touch has been an added bonus to the deal.”
Ken Feast, business development director, Invoice Finance, at NatWest, said: “As well as flexible financing solutions, we work hard to remove barriers to enterprise, so that businesses can thrive.
“It’s been fantastic to work closely with Matthew and his team to not only provide them with an invoice finance package that suits their needs but also support them with the wider aspects of taking a business on to the next stage of their growth journey. I’m really excited to see what’s next for them.”
Invoice financing is a flexible way for businesses to borrow money against payments due from customers. This frees up finances and can help businesses reinvest in growth at an earlier stage.
Broker Fundinground Ltd advised on the deal, supported by NatWest broker relationship manager Ben Davey.
Lucy Painter, director at Fundinground Ltd, said: “The range of finance products and lenders for businesses is vast, and we find that clients can’t always identify or directly access the best product for their circumstances.
“Invoice finance is of huge benefit to a broad spectrum of business to support their cashflow requirements, particularly bearing in mind the economic environment we are currently in. However, identifying the right product and lender is critical to its success, and it’s more than just price. The service aspect delivered by the lender is crucial due to the longevity and closeness of the client/lender relationship, and we know how Ken and the wider invoice finance team at NatWest recognise and value this.
“We are delighted to have brokered this introduction and know that Clements Young are in excellent hands as they embark on the next stage of their growth.”
New investment brings a bright smile to Cardinal Square
Nurton Development’s £150,000 investment at Cardinal Square to boost the wellbeing of its occupiers has helped attract new letting Smile Dental.
Smile Dental has taken 1,350 sq ft at the landmark building which now includes a revamped internal courtyard, which is a hidden oasis in Derby city centre.
The new courtyard includes greenery, water features, meeting pods and outdoors games so people working at the Grade A offices can enjoy being outside come rain or shine.
Created by local company, Talbot Landscaping, the investment is part of on-going upgrades to the offices which has totalled £1.5 million over the past three years.
Smile Dental is one of a number of occupiers signing up to the improvements including Bulkhead, Freeth’s, City Fibre, FTT, Randd, Astute, FHP, and the NHS.
David Dyas, asset manager for Nurton Developments, said modern occupiers are looking for buildings that offer more than just offices.
“Creating a high-quality working environment now involves thinking about the experience of the workplace as much as the physical offices, and providing attractive spaces for employees to work, meet and enjoy breaks are important considerations for wellbeing and productivity.
“The new-look courtyard is like a pocket park to bring the Cardinal community together and provides a unique added value amenity, in addition to all the great shops, restaurants and bars just a short walk away.”
Dyas added: “Being able to connect to the outdoors is a welcome surprise for new occupiers and offers a real wow factor for people as they walk through the building.
“Smile Dental is one of a number of lettings we’ve gained over the past 12 months including FTT and Randd and we’re pleased to welcome them to the building and demonstrate that our strategy for positive asset management pays off.”
Following the letting to Smile Dental, the third floor is being divided up into three refurnished suites ranging in size from 1,111 sq ft to 3,748 sq ft, to accommodate businesses in Derby looking to get ahead or downsize their footplate in the city.
FHP and Rigby & Co act as joint agents on the scheme.
Siblings team up to launch Engage & Grow Central Midlands
Employee engagement specialist Rachael Bull has teamed up with her brother and leading UK coach Matt Bull, to launch Engage & Grow in Central Midlands.
Engage & Grow is a global brand that focuses on re-engaging and re-energising workforces across the world, through bespoke group coaching programmes and workshops, operating in more than 80 countries. Its mission is to create a globally engaged workforce, one employee at a time.
After a successful career in journalism and public and private sector communications and engagement, Rachael became a certified coach and has joined her brother and Managing Director at ActionCOACH Loughborough, Matt, to launch Engage & Grow.
Rachael said: “It’s fantastic to be teaming up with Matt to bring Engage & Grow to the Central Midlands. My previous roles have always centred around communication and engagement, but what drew me to the business was the focus on bringing leaders and employees together to decide what actions and behaviours will help the business succeed, actually putting it all into practice, and seeing results so quickly.
“Everyone should have the opportunity to enjoy what they do, we spend so much of our lives in the workplace and if people are coming to work demotivated and uninspired then neither the employee nor the employer will benefit.
“Part of Engage & Grow’s mission is to re-engage employees and help businesses enjoy the huge value and benefits of having an engaged workforce. You can’t grow and be successful with disengaged staff and I believe it’s something that every business needs to do. Companies not doing so are missing a trick – those with engaged employees enjoy 22% more profitability, as well as significantly lower staff turnover and great retention.”
Matt said: “I’m really excited to be on this new venture with Rachael, combining my coaching experience with her employee engagement expertise. Our goal is to help leaders recognise the impact that having engaged staff can have on the business, through developing their leadership, communication and culture – all things that can easily be neglected. In fact, only 9% of the UK’s workforce is engaged.
“Globally over the past decade, Engage & Grow has brought about an average of +257% engagement growth for SMEs and +361% engagement growth for corporates and governments – our goal is to bring that success to the region’s workplaces.”
Engage & Grow Central Midlands, which is based in Loughborough, works with organisations across Nottingham, Derbyshire, Leicestershire, Northamptonshire, Warwickshire, Hertfordshire, Bedfordshire, Luton and Milton Keynes. Programmes can be delivered, either in person or virtually.
Rachael and Matt are offering companies the opportunity to get clarity on their current employee engagement score through a free-of-charge, no obligation survey. “This is first crucial step – knowing what your engagement score is and the aspects of engagement that are stifling your organisation’s success,” Rachael explains. “We can then advise on the best way forward to make the improvements needed to ramp up that score and bring about the numerous benefits that increased employee engagement brings.”
Employers can start the Engage & Grow processes by first getting a clear idea of where their business is at and how engaged employees are. Engage & Grow offers employee surveys to create bespoke plans for companies, at no obligation.
To find out more about Engage & Grow Central Midlands and its free engagement survey, please visit: www.engageandgrowcentralmids.co.uk or contact Rachael Bull on Rachael@engageandgrowcentralmids.co.uk
Planners approve trio of new developments at Leicester’s Pioneer Park
Commercial developer, Brackley Property Developments (BPD) has secured planning consent to deliver three new buildings at a science and technology park in the East Midlands.Leicester City Council has given approval for the development of Plot 3C, a c.1.1 acre parcel of vacant land at Pioneer Park, Exploration Drive, within Leicester’s Science and Innovation Enterprise Zone.The new self-contained developments will deliver high quality, contemporary accommodation suitable for knowledge based and creative businesses, ranging in size from 6,000 – 25,000 sq ft. Features will include LED lighting, raised floors, heating and cooling systems, as well as dedicated on-site parking, EV charging provision and cycle storage.Major infrastructure works are underway to support the new business space at Pioneer Park and bring forward an adjacent four hectares of land at Space Park, University of Leicester’s development for space research, learning and innovation. More than 42 high-tech businesses are already located within the Dock, a successful and managed development within the existing science park.Managing Director of BPD, Stephen Pedrick-Moyle, said that the developer had begun a design and tender process and anticipated being on site at Pioneer Park in early 2023.He said: “We’re pleased to have exchanged with Leicester City Council and secured planning consent for the development of Plot 3C. These new buildings will enhance the facilities available to the research and development sector and will cover a wide range of uses, from software development to bespoke laboratory space. They also have the potential to support local jobs, retaining talented graduates from Leicester’s two universities.”
East Midlands timber firm acquired by National Timber Group
East Midlands firm SV Timber has been acquired by Sheffield-based National Timber Group (NTG) in its drive to be the largest, independent, specialist timber processing and distribution group in the UK, with a focus on value-added products and solutions.
SV Timber fills a geographic gap in NTG’s existing branch network and further extends its customer reach within the Midlands. This follows the acquisition of Orchard Timber in late 2021 and the development of specialist business units National Timber Systems (NTS) and Intelligent Door Solutions (IDS).
Established in 2004, SV Timber is a specialist, independent timber merchant supplying a range of timber materials to a broad range of trade and commercial customers, including joiners and manufacturers, from three branches. SV Timber recently supplied the timber for the Commonwealth Games in Birmingham.
The former directors of SV Timber will remain in the business, working closely with Patrick Guest, Managing Director of NTG England, to ensure a smooth integration into the Group and to realise the full potential of the opportunities that this partnership offers for future growth.
By joining the Group, the customers of SV Timber will also have access to a broader range of products and services, including national delivery capability, bespoke timber production, door-set manufacturing, and engineered roofing systems.
Ed Holder, Managing Director of SV Timber, said: “When the opportunity arose to join the National Timber Group, we were really pleased to find we share the same passion and vision to drive the business forward. The scale and capability of the Group will help us to strengthen what we do and allow us to further improve the value we can deliver to our customers.”
Patrick Guest, National Timber Group Managing Director for England, added: “As a specialist added-value timber distributer, we are absolutely delighted to welcome SV Timber to the Group – our shared expertise and commitment to our customers makes this a great partnership. Together, we will extend our range of services and capability in the region, further improving our customers’ experience.”
Mike Ashley to stand down from Frasers Group board
Frasers Group has announced that Mike Ashley will not be standing for re-election as a director at this year’s annual general meeting and will therefore step down from the board following the AGM on 19 October 2022.
The firm said Mike Ashley will continue to be available to the board and senior management in an advisory capacity when called upon.
As part of Mike Ashley’s continuing support for the business and its elevation strategy, he will provide the group with £100m of additional funding alongside and on the same commercial terms as the group’s existing unsecured borrowing facilities.
Mike Ashley said: “Since Michael Murray took over the leadership of Frasers Group earlier this year, the business has gone from strength to strength. It is clear that the group has the right leadership and strategy in place and I feel very confident passing the baton to Michael and his team.
“Although I am stepping down from the board, I remain 100% committed to supporting Frasers and Michael’s plans and ambitions, and I look forward to helping the team as and when they require me. My commitment and support as a Frasers’ shareholder is as strong as ever.”
Michael Murray, CEO, added: “Mike has built an incredible business over the past 40 years and, on behalf of the board and the group, I want to thank him for all he has done. With our new strategy and leadership team, we are driving this business forward at pace and we are all excited for the future.
“We are grateful to have Mike’s support and expertise available to us as we continue the next stage of Frasers Group’s journey.”
Fashion marketplace’s directors reject Frasers Group’s takeover offer
The directors of Australian-based fashion marketplace MySale have recommended that shareholders do not accept Frasers Group’s offer to snap up the business.
In August Shirebrook-based retailer Frasers Group revealed a cash offer to acquire the entire issued and to be issued ordinary share capital of MySale not already held by the business for 2 pence per share.
It came after Frasers Group acquired a 28.7% stake in MySale earlier this year.
The offer valued the rest of the company at approximately £13.6 million.
At the time Frasers Group said that it had “extensive ambitions to grow its business outside of the UK and is exploring the potential for further international expansion through acquisitions, joint ventures and organic openings.”
The company noted it had not made an approach to, or had any discussions with, MySale management in relation to the offer. Frasers Group added that it intends to invest in MySale and use MySale as a vehicle for making other investments in the region.
Now, however, the MySale directors have said they “are of the view that a price of 2 pence per MySale Share does not reflect an adequate value or premium for control of MySale and therefore undervalues MySale and its prospects.”
A statement continued: “Accordingly, the MySale directors, who have been so advised by Singer Capital Markets as to the financial terms of the offer, do not consider the terms of the offer to be fair and reasonable AND THEREFORE RECOMMEND THAT MYSALE SHAREHOLDERS DO NOT ACCEPT THE OFFER, just as they will not accept the offer in respect of their own shareholdings in MySale.”
