PwC’s Midlands transaction services team completes £3.5bn of deals in 2021
PwC’s Transaction Services (TS) team in the Midlands completed deals with a total value in excess of £3.5bn in 2021, topping the £2.5bn transactions delivered in 2019-20.
The TS team operates across the Midlands and the North, with the combined value of the transactions across both regions amounting to £12bn in 2021.
Over half of the deals completed involved supporting corporate clients and Private Equity (PE) backed portfolio companies with buy and build growth strategies.
Helen Ward, transaction services partner and private equity leader for PwC in the Midlands, said: “We have seen record-breaking deal activity over the last 12 months, with demand for our expertise remaining strong particularly in areas such as technology, transformation and ESG. Looking ahead, there is still pent up demand for deals and this will play a key role in the economic recovery with clients looking to us to solve their most pressing issues.
“Our recent CEO Survey shows that successful vaccine roll out and significant government funding have given the UK a head start on recovery. Meanwhile our listed assets represent good value, at a time when many investors have full war chests to spend on resilient businesses. The challenge and opportunity is to attract the right investments and partnerships to deliver sustainable growth across the UK.”
The deals market continues to see high levels of activity, providing PwC’s Midlands TS team with the opportunity to work with a diverse range of corporate and PE clients and across a broad spectrum of sectors, including TMT, Business Services, Industrial Products, Healthcare, Retail Consumer and Leisure and Financial Services, working on over 27 completed transactions in the Midlands.
To meet this demand, the TS team has further invested in its team in the Midlands with eight promotions announced this month, which include partner admission for Jeffery Nye and Rachael Ellis promoted to director.
In addition to the promotions, the team has invested in recruiting 20 new people over 2021. The diverse team is made up of 50% female and 35% from minority ethnic backgrounds.
Tecserv UK appoints new security project manager
Fire and security alarm maintenance and installation specialists Tecserv UK has appointed Paul Hopcroft as its new security project manager.
Paul has over 29 years of experience within the fire and security industry, starting out at Shorrock Security as an installation engineer and progressing to installation supervisor before moving into their national account division as a project engineer.
More recently Paul worked for Clymac Fire and Security as their senior technical engineer which involved project design support, internal auditing, engineer training and mentoring and providing onsite engineer support.
In his new role at Tecserv UK Paul will be responsible for all security projects involving the installation of intruder alarms, access control and CCTV systems and will manage all projects from confirmation of order right the way through to completion and successful handover to the customer.
Paul said: “I was seeking a new challenge and when I heard about the opportunity to join Tecserv I jumped at the opportunity to join such a well-respected company. The team is well renown within the industry for its consultative approach and reputation for delivering high levels of customer service.”
Tecserv UK is based in Underwood on the border of Nottingham & Derbyshire. The company specialises in the installation and maintenance of fire and security systems for businesses of all sizes including some of the UK’s most prestigious brands and iconic buildings such as St Paul’s Cathedral in London, The Ritz and Bulgari hotels, Pinewood Group, Harvey Nichols, M&S and McArthurGlen Designer outlet shopping complexes.
Become the leader you want to be, with support from the Business Gateway
Leicester and Leicestershire Business Gateway is offering small business owners a unique opportunity to develop their skills with a personalised package of coaching, support and consultancy.
The leadership package – called ‘Become the Leader you want to be’ – is a refreshing change from generic leadership training delivered using slides and an online presentation.
It will be delivered by highly experienced consultant, Ian Baker who explained: “I think people have had enough of sitting through ‘one size fits all’ presentations; we’re all different, we’re all individuals so our approach reflects that. We will provide you with individual 1-2-1 sessions so that you can raise your leadership game and feel able to tackle your business issues.
“First of all, we’ll have a deep dive session into what you’re all about as a person and a business leader – don’t worry, we make it enjoyable for you! From this, we create a plan together with tangible actions and goals. People tend to stick to this plan because it’s been co-created.”
The programme has been designed in response to what the Business Gateway has seen among many small and medium businesses: they achieve a certain amount of growth without formal leadership but within time reach a crucial point where they can’t progress any further without it. Often issues such as apparently poor processes or a lack of focus in the business actually come because of this lack of leadership skills and focus.
Ian Baker added: “If you’re running a business but you have a gut feeling that something isn’t quite right, this support is for you. Perhaps you feel stuck and unable to get to the bottom of these issues on your own. That’s why we start with the people first as that’s really useful when it comes to looking at the processes and physical aspects of the business. I help people become better leaders and business owners and create their own legacy.”
The support programme is fully funded and therefore free of charge to participating small businesses. It is available from now until 31 March 2022. Because of Ian’s approach, each package of support will be unique to the individual but with a maximum of 8 hours per person.
Anyone wishing to apply should contact the Business Gateway Business Advisers on 0116 366 8487 or email growthhub@bizgateway.or.uk
University of Leicester researchers sign major agreement with one of the world’s largest mining companies
Researchers at the University of Leicester have signed a major research agreement with BHP, one of the world’s largest mining companies, to identify new areas for the discovery of metals critical to the electric vehicle (EV) revolution.
Dr David Holwell from the Centre for Sustainable Resource Extraction in the School of Geography, Geology and the Environment, will work in partnership with BHP to explore deposits of nickel and copper.
The two-year project, ‘Craton Margin Exploration Targeting 4D’, also involves colleagues at the University of Western Australia (UWA), Perth, and Macquarie University, Sydney. It is funded by BHP’s Resource Centre of Excellence and Metals Exploration and will support three post-doctoral research fellows located in the United Kingdom and Australia.
Dr Holwell said: “We are delighted to have agreed this partnership with BHP. It is particularly exciting to have the opportunity to apply some of our recent and ongoing research on nickel-copper-platinum group metal deposits directly to exploration targeting. We have a truly international and diverse team with complementary expertise and I am very excited to get started!”
The project and partnership with BHP has developed directly from recent work by the Leicester-UWA group that has shed new light on the processes involved in the sources and transport mechanisms of metals through the lithosphere in magmatic systems, published in Nature Communications (Holwell et al., 2019; Blanks et al., 2020) and Lithos (Chong et al., 2021).
This innovative work will be coupled with novel advances in experimental petrology and tectonic modelling to highlight ‘sweet spots’ of crust that have undergone a series of favourable processes through geological time.
The collaborative research project will challenge scientists’ current understanding of the nickel mineral system, potentially opening up new exploration search space for nickel across the globe. Nickel is a major component in the lithium-ion battery cathodes used in the manufacture of EVs, and is therefore vital to the EV revolution.
Alongside Dr Holwell, the international project team involves Professor Marco Fiorentini and Dr Weronika Gorczyk at UWA, Professor Steven Foley at Macquarie University, with Dr Daryl Blanks taking up the position of BHP Research Fellow at Leicester. The BHP project team includes Dr Libby Sharman and Dr Nicole Januszczak.
Professor Fiorentini added: “We are very proud to collaborate with BHP to tackle key knowledge gaps that currently hamper successful exploration of metals needed for the green future of our planet.” Plans in to convert Nottingham’s British Waterways Building into flats
Plans have been submitted to transform the British Waterways Building in Nottingham into a residential scheme.
H2O Urban, a joint partnership between The Canal and River Trust (current owners of the building) and specialist developer bloc Ltd, are behind the proposals.
The grade 2 listed building would be converted to provide 95 residential units (12 studios, 42 one bedroom apartments and 41 two bedroom apartments) including construction of a rooftop extension providing 8 apartments.
The building, constructed in 1919 as a canal transit warehouse for the Trent Navigation Company, is currently partially occupied by a comedy club (Glee), however the lease for the space is coming to an end and will not be renewed. The other areas of lower floors were formally occupied by a pub and the upper floors by a gym but are all currently empty.
A design statement says: “The proposal to convert the listed British Waterways building into a residential apartment scheme will provide a viable repurposing of this prominent landmark to protect its long-term future.”
Raleigh owner to be acquired
Accell Group, the owner of Nottingham brand Raleigh, and a consortium led by global investment firm KKR have reached a conditional agreement for the purchase of the former for a total consideration of approximately EUR 1.56bn (£1.31bn).
Other well‐known bicycle brands in Accell Group’s portfolio include Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Sparta, Babboe and Carqon. Accell Group employs approximately 3,100 people across 15 countries.
The deal values the Netherlands-based bicycle, bicycle part and accessory-maker’s shares at EUR 58 (almost £49) per share.
No jobs are expected to be lost in the deal.
Rob ter Haar, chairman of the supervisory board of Accell Group, said: “The supervisory board unanimously supports the transaction and recommends the offer by the consortium,
which we believe will promote the sustainable success of Accell Group. The offer reflects a compelling and immediate value for our shareholders.
“Having the consortium as a strong shareholder focused on long-term value enhancement will enable Accell Group to grow its business in an accelerated timeframe and to strengthen
its position as one of the world’s leading bicycle market players, against the backdrop of continued supply chain volatility and a dynamic global environment full of challenges and opportunities.”
Ton Anbeek, CEO of Accell Group, said: “Today’s announcement marks an important step for Accell Group. With the consortium as our new shareholder we will have a financially strong and knowledgeable partner to accelerate the roll-out of our existing strategic roadmap, enhance our global footprint, explore suitable acquisitions and further leverage our scale.
“As such, the transaction will enable us to take a leap forward as a group which also brings along enhanced career opportunities for our employees. We continuously strive to be a leader in the bicycle industry by combining smart design and innovative technology with the best value and customer experience.
“With KKR coming on board as majority shareholder, and with the continued support of Teslin, we would be able to accelerate the execution of our strategic agenda, launch new innovations for green mobility and support to the benefit of people and communities.”
Accell Group acquired Raleigh in 2012 for £62m.
2022 Business Predictions: Chloe Sproston, Creative Director, Blueprint Interiors
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 Chloe Sproston, Creative Director from workplace strategy consultants and commercial office fit-out specialists, Blueprint Interiors.
For the early part of 2022, I think businesses will continue to grapple with the question “What do I need an office for?”
Business owners will be questioning how much office space they are going to need and identifying how their people will want to work. Particularly as the work from home trend has now become the new normal.
I also think we will continue to see peaks and troughs in the number of people working from home and the office according to fluctuations in COVID infection rates – which means office spaces will need to be flexible to accommodate this.
MS Teams and other video conferencing tools have proved to be a useful and productive way to conduct meetings that are about process, but when people need to collaborate, innovate or meet socially to bond and team build, the desire for face to face interaction will remain high. We are after all, social beings and will need these interactions to benefit our health and well-being.
However, I also predict that individuals will need to hold greater responsibility for how their career will develop – especially if they are working from home and no longer in front of the people who will influence their career progression on a daily basis. Consequently, I think we will see a shift in the provision of tools that will help employees focus on themselves.
In order to complement the face to face and video interactions managers already have in place with their team, I think we will see an increased use of online tools that will help them to develop and manage teams that are working remotely. The emphasis that is being placed on workplace diversity and inclusion will also quite rightly gain more and more momentum.
2022 Business Predictions: Ben Cree, Director at Lesley Cree Opticians
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 Ben Cree, Director at Lesley Cree Opticians based in Nottingham.
As we head into 2022, there are some exciting developments occurring in the world of Optometry.
Whilst the UK High Street is continuing to take a hit, as big name brands close their doors, for local independents like ourselves, we are continuing to see a trend of people shopping local. Consumers have enjoyed the personal service and the community spirit that has been created by supporting independents and I think this loyalty will remain.
Myopia Control will also be a keen talking point throughout 2022. Myopia control is the area of children’s eye care dedicated to slowing down myopia progression or otherwise known as short-sighted. Whilst there’s nothing currently available which can promise to STOP myopia progression, it is important to consult with your local Optometrist to perhaps consider strategies to slow down the progression, whether that be with special contact lenses or spectacle lenses.
In the wake of the United Nations Climate Change Conference in November, discussions around sustainability have come into the spotlight. A number of high profile eyewear manufacturers are now opting to use plant-based or eco-friendly materials when designing and manufacturing their frames and lenses. I definitely see this trend to continue in 2022, as manufacturers look to provide products that cater for consumers’ sustainable buying habits.
Nottinghamshire County Council new virtual employment hub launched to help residents and businesses
A virtual one-stop-shop has been launched to support residents find work opportunities and help employers develop their talent pool.
Nottinghamshire Opportunities aims to be the go-to-place to explore local career opportunities and provides a platform for people to search for jobs, training courses, and apprenticeship opportunities.
Funded by Nottinghamshire County Council in partnership with careers guidance service Futures, the portal will ultimately improve access to training and employment – matching an individual’s skills and training with job opportunities.
Councillor Keith Girling, chairman of the county council’s Economic Development and Asset Management Committee, said the online portal would provide much-needed support for job seekers and employers.
He said: “Our goal is to remove employability barriers and provide access to better and more rewarding jobs that allow individuals to progress in their careers and fulfil their potential.
“We have lived through some of the most challenging and difficult times in living memory because of the pandemic, which means the launch of a platform such as Nottinghamshire Opportunities is more important than ever as residents look to find employment or upskill.
“It will also be a very useful tool for employers in our county who are looking to recruit local talent to join their teams as they continue to recover from the impact of the various lockdowns in the past two years.
“I’m really looking forward to seeing how Nottinghamshire Opportunities supports and links people to advice to help them build the right career path, whether they’re a student wanting an apprenticeship in a particular industry or have recently been made redundant and want to explore different job options – we’ll be here to support them every step of the way.”
Futures CEO Paul Price-Hazlehurst said he was delighted his organisation was playing a ‘critical role’ in delivering a ‘fantastic’ initiative.
He said: “Nottinghamshire Opportunities portal has everything you need to help build a career.
“Futures is delighted to part of this fantastic initiative by Nottinghamshire County Council.
“The landscape of careers, employment and skills provision is complex, but there’s lots of support out there for employers, young people, and jobseekers.
“Nottinghamshire Opportunities can really help overcome that complexity and we at Futures are delighted to be playing a critical role in the delivery of this new service.”
The virtual hub also provides an opportunity for job seekers to try out a bespoke Skills Toolkit, which offers free digital courses to help individuals to progress in work and boost their job prospects, as well as support packs for people facing redundancy.
To access Nottinghamshire Opportunities, go to Nottinghamshire Opportunities | Get a foot on the career ladder (oppsinnotts.co.uk).
Plans approved to redevelop school building for student flats
Plans to redevelop a former school building at 203 Ilkeston Road, Nottingham, into student apartments have been granted conditional permission by the city council.
The proposals would provide 158 student beds, with indoor and outdoor communal amenities at ground level, including a landscaped garden. The rooms would be a mixture of studios and en-suite bedrooms with a cluster kitchen/living space.
A design statement submitted by Leonard Design Architects says: “The existing school building is of good quality with clear heritage and townscape value. Much of the street facing façades are of reasonable condition but are in need of repair.
“Meanwhile much of the character has been lost within the two courtyard spaces due to a series of 20th century additions including a large hall, which is proposed to be demolished and replaced with a new student accommodation block.
“The interior, however, is in a state of poor repair and is no longer fit for purpose for modern use. As such it is proposed that major refurbishment works will be undertaken to convert the building for use as student accommodation. Refurbishment will include performance upgrade to windows and insertion of new floors where appropriate.”
A new two storey gate house is also proposed along Stanfield Street, which will “define a new street scene and mark the entrance to the site.”
The student flats would be spread across the three buildings (the existing ex-school, the new build extension and the gate house).
The site is currently vacant, however it was originally used as a school and more recently was used by Nottingham City Council to house the Radford Unity Centre.
People in Leicester to have say on regeneration plans for site of former schools
People who live and work in the Eyres Monsell area of Leicester are being asked for their views on plans to redevelop the site of two former schools for new housing.
Leicester City Council has been awarded £360,000 of government funding from the One Public Estate (OPE) programme. This will help fund the proposed demolition of the disused Newry and Southfield school buildings and prepare the site for much-needed new homes.
Both school buildings have been vacant for over a decade and are now derelict. The city council is working to clear the site ahead of redevelopment with demolition work likely to being in autumn 2022.
Alongside this, the city council has appointed architecture practice Levitate to help develop an outline masterplan for the redevelopment of the three-acre site, located between Southfields Drive and The Newry.
Local residents and businesses are being invited to give their views on the initial proposals to redevelop the site for new council housing.
The proposals include a mixture of flats and family homes with private gardens, in addition to improvements to the existing through route for pedestrians and cyclists linking The Newry and Southfields Drive.
The masterplan currently proposes between 50 and 60 new homes for the site, with the final number to be confirmed at the planning stage. The buildings will be designed to high eco-standards as part of Leicester City Council’s response to the climate emergency.
City Mayor Peter Soulsby said: “We are committed to investing in local neighbourhoods and estates across the city. The redevelopment of the vacant and disused Newry and Southfield school sites presents a valuable opportunity to make lasting and ambitious improvements to this neighbourhood and help address the huge need for new council homes in the city.
“Work is still at a very early stage and we want to involve the local community to help us develop an agreed vision and masterplan for how we can bring this derelict site back into use in a way that will bring real benefits to the local area.
Over 2,000 letters are to be delivered to homes and businesses in the local area inviting people to comment on the initial proposals.
People can also find out more and complete an online survey at my.engaged.space/southfieldandnewry
Closing date for comments is Sunday 13 February.
End of Covid-19 tests for fully vaccinated travellers arriving in England is a huge boost for East Midlands’ biggest economic asset, says Chamber
Commenting on the Prime Minister’s announcement that Covid-19 tests will be scrapped for fully-vaccinated travellers arriving in England, East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) said:“East Midlands Airport is arguably the greatest single economic asset in our region, so scrapping Covid-19 tests for fully-vaccinated travellers arriving in England will give it another catalyst to look ahead to a strong year of travel.
“With passenger numbers being a fraction of what they were pre-pandemic, it’s vital for the region that these recover as quickly as possible, starting with a buoyant 2022.
“This in turn will continue to fuel the exciting developments we’ve witnessed surrounding the airport, creating a hub of economic activity linked to the manufacturing and logistics industries that has been central to replacing many of the jobs that have been lost elsewhere.
“For businesses, they can now look forward to being able to re-establish connections with international suppliers and customers that have been difficult to maintain over the past couple of years.
“Our post-Brexit economic hopes rely on forging a new era of global trade, and this requires giving our firms, in particular our region’s innovative manufacturers, true access to the rest of the world without restrictions.
“Employers in many sectors, but particularly those in the hospitality trade, will also welcome an end to the staff shortages that quarantine periods has caused to their operations while they have attempted to reopen.”
A green future: North Lincolnshire Council pledge to be net-zero trailblazer by 2030
North Lincolnshire Council will end its contribution to climate change and become carbon neutral by 2030.
The pledge comes as part of a new policy set to be approved at the council’s Cabinet meeting today, Monday 24 January.
The ‘Green Future’ proposals are designed to enable the council, together with residents and businesses, to make positive changes to create a cleaner, greener, healthier and more sustainable North Lincolnshire.
Cllr Rob Waltham, leader of North Lincolnshire Council, said: “This is one of the most important pieces of policy we will be responsible for – it sets a vision which will protect North Lincolnshire now and for future generations.
“We already have an enviable track record when it comes to protecting and enhancing the environment; slashing our carbon emissions in the last decade, planting over 85,000 trees and re-establishing vast areas of urban wildlife habitats – but we can and will go further.
“It embeds environmental protections and enhancements into everything we do and across all that we are responsible for – and is designed to protect and create jobs, taking advantage of new green technologies and the emerging industries.”
The new policy is designed to enable every part of the council, each resident and community, together with all businesses, to play an active and involved role in achieving the best possible environmental outcomes for North Lincolnshire.
In a consultation, 99 per cent of respondents agreed with all the aims set out, which are designed to achieve decarbonisation, environmental protection and enhancement, personal wellbeing and economic growth.
Cllr David Rose, cabinet member for environment, said: “This touches every single community, every single business and every single resident.
“It recognises we all play our part in making our area a cleaner, greener, healthier and more sustainable and attractive place to live, work and visit.”
From 2009 the council reduced its carbon footprint by more than 60 per cent, making savings of £12m in the process. In 2019 alone £1m a year in savings was made from its energy bills through a variety of projects, including replacing every streetlight with low cost, energy efficient LEDs.
The new policy is developed across four themes; net zero and sustainable energy, resources, waste and water management, natural environments, a shared responsibility and vision.
Staffline confident for 2022 following “strong” 2021 performance
A “strong” 2021 performance has created “increased confidence” for 2022 at Staffline, the recruitment and training group.
According to a trading update for the year ended 31 December 2021, the Nottingham-based company expects to generate revenues of £942.7m, up from £927.6m in 2020, representing an increase of 1.6% notwithstanding management actions to exit low margin contracts.
As a result of these actions and the turnaround plan, the group is anticipated to deliver underlying operating profit for 2021 of £10.0m (2020: £4.8m), a significant increase of 108.3%, and 11% ahead of market expectations for 2021.
Albert Ellis, Chief Executive Officer of Staffline, said: “To have achieved such a strong profit performance during a year which presented a number of industry-wide challenges is testament to the underlying strength of our market leading positions and the group’s unrivalled reputation for delivery of labour at scale to major organisations across the UK in critical sectors.
“Having both re-capitalised and refinanced the group, we now have the balance sheet strength and operational agility to execute on more ambitious organic growth plans. The pipeline for 2022 is encouraging, underpinning the board’s increased confidence in the current financial year and beyond.”
East Midlands’ small businesses show resilience as confidence begins to return despite continued challenges
Confidence amongst small firms in the East Midlands is the highest in the UK, despite another challenging quarter for businesses in the region.
According to the Federation of Small Businesses (FSB) quarterly Small Business Index, confidence in the East Midlands has improved slightly in Q4, following a stark drop in Q3, which puts the region’s businesses back into the top spot of most positive of all UK regions. The reading currently stands at 15%, compared to 0% at the end of Q3.
Investment intentions, employment intentions and predicted net gross profit were still holding up amongst small firms at a time when the ‘work from home’ message and international travel restrictions were still in place.
Other key headlines from the report:
- Confidence in business performance shows quarter-on-quarter improvement, as well as being a vast improvement compared with this time last year.
- The number of small businesses increasing headcount (13%) is similar to the proportion reducing staffing levels (12%).
- In the East Midlands, 60% of small firms increased the average salary awarded across their business over the last 12 months, with 55% increasing wages by 2% or more.
- 52% of small businesses in the East Midlands said that their growth aspirations in the next 12 months were to grow either rapidly (increase turnover/sales by over 20%) or moderately (up to 20%).
- Every big business/government organisation should be abiding by the prompt payment code as 18,000 East Midlands businesses could be forced to close this year due to late payment
- Increase the small business rates relief ceiling to £25,000, which would take 200,000 more firms out of this regressive tax
- An increase in the Employment Allowance from £4k to £5k to mitigate the National Insurance Increase from April
- The Government should learn lessons from the botched roll-out of the SME Brexit Support Fund and launch a new fund. This should have similar aims but a more sensible eligibility criteria, reasonable application deadlines and a genuinely international focus
Monthly fall in corporate insolvencies masking true East Midlands picture – R3 Midlands
A month-on-month fall in the number of corporate insolvencies in England and Wales may not be a true reflection of the heavy toll the pandemic is taking on local businesses, warns the Midlands branch of insolvency and restructuring trade body R3.
Figures published by the government’s Insolvency Service show that, nationally, the number of companies entering insolvency fell by 11.4% in December 2021 to a total of 1,486 compared to the previous month, but R3’s Midlands Chair suggests that this statistic could be masking the true situation in the East Midlands.
Eddie Williams, who is also a partner at PwC in the region, said: “The national monthly fall in corporate insolvencies is likely not a true reflection of the levels of underlying distress locally. Many businesses that were already challenged at the start of the pandemic are now dealing with further disruption, such as staff shortages, inflationary pressures and concerns over rising energy prices.
“When a longer-term view of the national data is taken, however, it more accurately demonstrates what may be happening in the region. The latest monthly corporate insolvency statistic is a 20.1% increase on December 2020’s figure of 1,237, and 32.7% above the 1,120 figure for December 2019.
“These increases were driven by a rise in Creditors Voluntary Liquidations, which suggests that the economic situation has pushed – and continues to push – many company directors to close their businesses voluntarily before that decision is made for them.”
Eddie Williams notes that East Midlands businesses in sectors such as retail and hospitality have had a particularly challenging time over the past few weeks with the peak Christmas period being severely affected by COVID restrictions and staffing issues.
He continued: “A sharp rise in COVID cases, increasing costs and falling consumer confidence hit footfall, personnel and sales throughout December. Company directors and management teams have also had to work in the midst of COVID restrictions, which will have affected day-to-day operations, customer behaviour and revenue levels.
“With the latest COVID rules set to end within days, local business owners still need to remain alert, and if their business becomes financially distressed, they should seek advice as soon as possible.
“Most insolvency practitioners in the region will offer a free hour’s consultation to potential clients, so they can understand more about their business, its circumstances and outline what options might be available.”
Associate director at Ashby property consultancy voted national deputy chair of key industry association
An associate director at a property consultancy has been voted national deputy chair of a key pipeline industry association.
Rachel Bridge, of Fisher German, has become the deputy chair of the Pipeline Industries Guild (PIG), the only association worldwide to cater directly for the needs of the pipeline industry.
The role will see her sit on the executive committee of PIG, looking at the development of the industry right across the UK, before becoming national chair in 2024 – one of only a small number of women to ever take up the position.
Rachel was first introduced to PIG during a university placement in 2007 and has since been an active member, taking on the role of Midlands chair in 2020.
She is now set to focus on driving sustainability across the sector as part of the guild’s 2025 strategy.
She also has a passion for education and has ambitions to educate young people on the importance of the sector and the varied career paths it offers.
Rachel is an associate director within Fisher German’s Infrastructure Services Division, and is based at the firm’s Ashby office.
She is responsible for business development and bidding for new infrastructure work and also has more than 10 years of experience managing infrastructure assets across the oil and fibre sectors.
Rachel said: “I am very pleased to be voted in as national deputy chair at such an exciting time for the industry.
“We are entering a green revolution which focuses on sustainability for now and the future, and PIG sees itself as being central to this.
“There are some major multimillion pound infrastructure projects set to take place across the UK, and I will be looking to drive innovation across the whole sector, exploring new technologies and encouraging the sharing of best practice.
“Education is a passion of mine and I will be ensuring that we connect with people at a young age so that we have a diverse pool of talented individuals joining the industry.
“With a number of major projects on the horizon we need to have motivated people coming into the industry to help make these happen.”
Family Law Group to transfer ownership to staff
Family law specialists, Family Law Group, has announced that 2022 will see the transfer of ownership to its staff, by becoming an Employee Ownership Trust (EOT).
This is the first step in empowering the firm’s lawyers to drive the business forward and to support the strategic growth plan to become the largest family law firm in the country. The aim is to grow to 15 offices, creating up to 100 new jobs, and launch a national telephone advice line, in the next five years.
75% of the group, which currently has over 130 employees across 10 offices, will now be owned by the EOT, and all staff, regardless of seniority, will receive equal annual bonuses based upon the firm’s performance. Whilst the day to day running of the firm will remain with the existing management team, as an employee-owned business, any decisions taken are now done for the benefit of all staff.
Simon Leach, director at Family Law Group, said: “I am delighted that we have been able to finalise the transfer of ownership of this firm to the most important people within it, its highly talented staff. This move is about empowering our lawyers to take ownership of the firm in respect of its direction and commitment to our core values and purpose. They will now have a greater input in to the day to day running of the firm, and the decisions that are made as we grow.
“My values align very strongly with those of the Cooperative Movement. I can think of no better application of such principles than a firm of solicitors whose product is the very people who will benefit from the EOT, namely, our lawyers and those who support them in their work.
“As a firm, we have already grown considerably over the last 4 years. We now have 10 offices and over 130 staff. It is imperative that we ensure our model is right to not only retain the lawyers who contribute to our success, but also to be able to attract the highest quality talent to our growing business.
“The move to an EOT is a way of ensuring the longevity of our firm. We really value our staff, and this was one way of demonstrating that. In the long term as we grow, we intend to become 100% employee owned.”
Deb Oxley, Chief Executive of the EOA (Employee Ownership Association), said: “We congratulate Family Law Group on its move to employee ownership – sustaining its values and independence for the longer term.
“Businesses that give employees a stake and a say, build trust and shared responsibility, therefore uniting leaders and employees behind a common purpose. This leaves the business in a better position to flex and adapt – key qualities needed to help the UK Build Back Better.”
Established in 2005, Family Law Group has over 130 employees across 10 offices in Nottingham, Chesterfield, Milton Keynes, Northampton, Wellingborough, Derby, Loughborough, Peterborough, Bedford and Cambridge.
Property experts suggest market is returning to normal after boom
Experts have suggested that the property market may be returning to normal after a turbulent couple of years.
Danny Luke has been examining the number of property sales that fall through before completion, suggesting that the figures can offer an insight into the health of the property market.
Danny, from quick house sale company Quick Move Now, explains: “We usually expect between one-in-three and one-in-four property sales to fail before completion. Between July and September of this year, when people were rushing to get their sale completed before the stamp duty holiday deadline and there was a shortage of properties on the market, just 11 percent of property sales fell through.
“Although, on the face of it, a low sale fall through rate would appear to be good news for the property market, the usually low figures made it clear that the market was not operating under usual circumstances and was experiencing an imbalance.
“By the end of 2021, the fall through rate had returned to a more expected level, with 34 percent of sales failing to complete. This indicates that the market is beginning to return to more normal conditions.
“If we want to understand what’s happening to the market, it’s important that we also study the reasons for failed sales. Although fall through rates have returned to more normal levels, the reasons for the failed sales give us an insight into the psychology of home buyer and sellers. Of the sales that fell through in the last three months of 2021, 50 percent were the result of the buyer changing their mind or attempting to renegotiate their offer. This would indicate that buyers are feeling under pressure to make high offers and then reconsidering how much they’re happy to pay when the sale is in progress and the pressure eases a little.
“A further 28 percent of fall throughs were due to gazumping or because the seller felt the sale wasn’t progressing quickly enough, so it seems buyers are right to feel the pressure when it comes to price and speed.”
Manufacturing giants back city’s efforts to save Derby County
Derby’s major employers have given their backing to efforts by the city to ensure the survival of Derby County.
Its three manufacturing giants – Alstom, Rolls-Royce and Toyota – all of whom employ several thousand Rams fans – have added their support to those battling to save the club.
Last week, Team Derby, which includes Marketing Derby, Derby City Council and local MPs, was established with the aim of working with Quantuma – the club’s administrators – and the English Football League (EFL) to find a solution to the Rams crisis. There are now just days left before the club faces expulsion from the league if it cannot prove to the EFL it has the funds to complete the season. Team Derby have been in contact with the EFL and Quantuma today to discuss this and other issues. In the meantime, Councillor Chris Poulter, leader of the city council, has welcomed the messages of support from the city’s employers. He said: “It’s just as unthinkable to imagine our city without Derby County as it would to be without our major companies – they are all massive contributors to the heartbeat of the city and our communities. It’s so great to see that our iconic employers are supporting the campaign to save the Rams.” Efforts to save the club have so far received overwhelming support, both locally and nationally, with a petition calling on the Sports Minister to intervene recently exceeding 60,000 signatures. Backing those efforts, in a statement, Rolls-Royce said: “Rolls-Royce has been based in Derby for more than a century and generations of our employees have passionately supported Derby County Football Club. “Today, we share the concern of all fans over the fate of Derby County and support efforts to ensure its survival. We are continuing to follow developments and Team Derby’s work to ensure the club can continue to be a cornerstone of our community.” In its statement, Alstom, which has its train-building site in Litchurch Lane, said: “Derby County is of huge importance to the city and to many of us personally at Alstom. We support all efforts to ensure the club has a bright future.” And in a statement, Toyota said: “Toyota has been proud to be a Derby County sponsor over the past 30 years. We are incredibly supportive of the team and all the personnel that work there to make each match a fantastic event. “We realise that Derby County is extremely important to our members and the city as a whole and that they are a keystone within the local community, not only through the club but also through the community work that they carry out. “We sincerely hope that the current situation can be resolved quickly and that their focus can get back onto the field.” These messages join a chorus of support, which also includes famous fans, such as One Direction star Niall Horan and actors Robert Lindsay and Jack O’Connell. Big names in the world of football have also called for Derby County to be saved, including high-profile pundits such as Gary Lineker, Alan Shearer and Gary Neville. The campaign to save the club has also received support from politicians – and not just local MPs. The matter was raised in Parliament last week and the political momentum could be set to continue this week in the House of Lords, with Lord Ravensdale seeking to raise a question about Derby’s plight. This week is a critical week in terms of the future of the club and progress needs to be made on the preferred bidder in the next few days. Administrators have been set a deadline of 1 February to prove it has the funds in place to complete the season. The club is up for sale, with three serious bids on the table. The EFL has called for “urgent clarification” from the administrators as to the identity of its preferred bidder. And the EFL also wants to know how the Rams intend to deal with claims made against the club by Middlesbrough and Wycombe Wanderers, which is one of the factors holding up the takeover. Last week, Team Derby had separate meetings with Quantuma and the EFL to establish their positions – and how the city could help bring about a solution. Today, the group will discuss with Quantuma how it intends to respond to the EFL’s demands. John Forkin, Managing Director of Marketing Derby, said: “Since the campaign was launched last week, the future of Derby County has become a national story attracting tremendous support from across the UK. “This week, we focus on the solutions. Team Derby will continue to put pressure on all the key players, including the administrators and the EFL, to find a solution and we will hope to meet the preferred bidders to give them confidence that investing in the club and in the wider community will be one of the most exciting deals they will ever have done.”