Northern Irish firm acquires Ilkeston precast concrete drainage business

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Northern Irish firm acquires Ilkeston precast concrete drainage business
Northern Irish firm Tracey Concrete has acquired Stanton Precast Drainage of Ilkeston. SATEBA, a French and European leader in sustainable rail infrastructure, has sold the Stanton Precast Drainage business. Tracey Concrete has been an established name in precast concrete drainage since 1979. A statement from Tracey Concrete says: “We are pleased to announce a significant milestone for Tracey Concrete in the UK market. We have successfully acquired Stanton Precast Drainage in Ilkeston, Derby. “This strategic move is a testament to our commitment to delivering high-quality precast drainage solutions and reinforces our position in the industry. By merging our expertise and resources, we are well-positioned for continued expansion and success.” A statement from SATEBA says: “With a shared vision for the future, we’re confident this transition will herald a promising era for the Stanton drainage business, which was not a core business for SATEBA. “SATEBA is retaining its UK infrastructure and rail business and remains committed to its UK team for future development. The company will remain on the same site which has been split between the two companies.”

Pendragon shareholders vote in favour of Lithia bid

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Pendragon shareholders vote in favour of Lithia bid
In a general meeting, the shareholders of car retailer Pendragon have voted in favour of Lithia’s bid for the company’s UK motor and leasing business. Backed by 98% of shareholders, the offer by Lithia UK Holding Limited, a subsidiary of Lithia Motors, was revealed last month and was followed by a number of alternative bids from firms including Hedin and PAG International and AutoNation, who ultimately backed out of the acquisition race. Lithia Motors, one of the largest automotive retailers in North America, had increased its offer for Pendragon’s UK motor business and leasing business to £367 million. The total cash consideration is £397 million, including a previously publicly disclosed subscription for shares in Pendragon. Pendragon and Lithia also agreed the terms of a strategic partnership, including the rollout of Pinewood, the company’s dealer management software (DMS) business, to Lithia’s existing 50 UK sites, and the creation of a joint venture to accelerate Pinewood’s entry into the attractive North American DMS market.

As part of the transaction, it was announced that Pendragon’s Pinewood division, which operates the company’s proprietary DMS business, would become a standalone entity, retaining Pendragon’s existing listing on the London Stock Exchange and creating a pure play Software as a Service (SaaS) business with an accelerated growth plan.

East Midlands entrepreneurs take a hit as insolvency activity rises and start-ups fall, yet cashflow continues to improve

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East Midlands entrepreneurs take a hit as insolvency activity rises and start-ups fall, yet cashflow continues to improve

A fall in the number of start-up businesses in the East Midlands, as well as a rise in insolvency activity, indicates a significant economic challenge for local entrepreneurs entering the final quarter of 2023.

This is according to the Midlands branch of national insolvency and restructuring trade body R3 and is based on an analysis of data from business intelligence provider Creditsafe.

R3’s figures show a month-on-month decrease of 5.81% in the number of businesses set up in the East Midlands in September, falling from 2,462 to 2,319, while insolvency-related activity – which includes liquidator and administrator appointments as well as creditors’ meetings – rose by 36.05% over the same period.

R3 reports, however, that business cashflow continues to rally against a challenging economy, with a marginal fall of 0.55% in the number of East Midlands companies with late payments on their books, a downward trend in the region which has continued over the last six months.

R3 Midlands chair Stephen Rome, a director at law firm Thursfields in the region, said: “While this research contains some flickers of positivity for East Midlands companies, the economic backdrop remains vastly unstable, making it very difficult for businesses to forecast the challenges they will be facing next week, let alone next month.

“Monthly corporate insolvency figures are at their highest in many years, with director fatigue and creditor pressure meaning many companies are turning to an insolvency process to help resolve their financial issues.

“While the number of East Midlands companies with late payments on their books continues to fall, the statistic remains high at 23,331. Coupled with rising insolvency figures, it is clear that many organisations, both start-ups and established businesses, are now at a point where they need specialist help to survive.

“R3’s advice to any director who is concerned about the viability of their company is to seek professional help as soon as problems arise, with more potential solutions available to turn the business around. Many R3 members offer a free consultation to those who wish to explore their options.”

Refurbished Staveley business park 66% let

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Refurbished Staveley business park 66% let
Hartington Business Park at Staveley, which completed a refurbishment in July, has already secured significant lettings since its launch to market in January this year. Marketed by letting specialists Commercial Property Partners (CPP), alongside Knight Frank, on behalf of the Devonshire Property Group, interest to date in the brand new, terraced, industrial warehouse accommodation has been exceptionally strong, resulting in three of the units already snapped up with a fourth under offer – leaving just two available. Ranging in size from 2,479 sq ft up to 4,899 sq ft, the units have been built to a shell specification allowing occupiers the flexibility to utilise the space for maximum business benefits. Office fit-out packages are also available from the landlord, if required. The Hartington units, built with a steel portal frame and steel profile cladding, offer 6m clear height, secure concrete yards, EV charging points, full fibre broadband and ample parking spaces. CPP senior surveyor Max Pickering said: “Hartington Business Park has been built to a high specification and is in a great location for a range of commercial or industrial businesses looking to have a base in central Derbyshire. “Its easy access to the M1 has garnered interest from a variety of would-be tenants and we are confident the remaining units will be occupied in the very near future. “Its accessibility to a large skilled workforce within commuting distance of Chesterfield, Sheffield, Doncaster and Nottingham, has also been a strong pull for businesses looking to relocate.” Adam Mayfield, property development surveyor at the Devonshire Property Group, said: “We are delighted at the current appetite for Hartington Business Park, testament to a first-class build, fit out and premium location. “Our thanks to the team at CPP for their support and expertise in securing the current deals and ongoing marketing.”

Robotics firm set to occupy part of Lincoln office building

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Robotics firm set to occupy part of Lincoln office building
Part of the G Tech Building on Firth Road Business Park in Lincoln will be occupied by a firm operating in the robotics sector, confirms the local agency of Eddisons incorporating Banks Long & Co. The agency’s Lincoln office acted as joint agent with Fisher German, on behalf of the landlord, in a deal which sees the robotics firm take a lease on 7,740 sq ft of ground and first floor office space out of a total of 11,000 sq ft of business accommodation in the G Tech Building. Neighbouring occupiers on Firth Road Business Park include Siemens PLC, ITP & Aero Engines UK Ltd among other technology industry occupiers. The Firth Road Business Park is a short walk from the University of Lincoln’s city centre campus. While the name of the new occupier remains to be announced by the agents, following fit-out of its new premises, William Wall, director, Eddisons incorporating Banks Long & Co, said: “Robotics is one of the fastest growing of the new industrial sectors and an active area for R&D – particularly in the Agri-Tech field where robotics figures alongside digital technologies & artificial intelligence. “Together with the aerospace & defence sectors and large scale commercial logistics operators, robotics is a sector which is helping to re-present the commercial profile of Lincolnshire to new investors and operators.”

Leading accountancy practices merge

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Leading accountancy practices merge
Streets Chartered Accountants, a top 40 UK accountancy practice, has announced the establishment of Streets Steele Chartered Certified Accountants following the merger of the award-winning Bristol practice, Steele Financial with Streets Chartered Accountants. Ben Steele, now Managing Director of Streets Steele, said: “Having started Steele Financial only six years ago we have experienced significant growth and as such, in line with the advice we give our clients, we recognised the need to develop our practice to service growing demand. “In particular it would seem our approach to run a true cloud based and digital accountancy practice along with providing clients a virtual finance office, certainly has made us an attractive proposition for many entrepreneurs and businesses alike. “Recognising the potential, along with the need for us to provide a greater breadth of services, we sought to join up with a larger practice who can not only support us but also support the needs of our clients, now and in the future. We are delighted to say we have found that in Streets Chartered Accountants. “We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services, including areas of specialist corporate and private client tax planning, international advice and personal financial planning.” Looking at what the merger means to Streets, the firm’s managing partner, Paul Tutin, said: “We are delighted and excited to have Steele Financial become part of the Streets wide practice. “Ben and his team, including fellow director Ryan Saward, are a truly inspiring practice and have earned an enviable reputation, not just in Bristol, but also in London and further afield, for their progressive approach and innovative use of technology to look after the needs of clients. “Such an approach has seen them successfully grow a broad client base as well as particular sector specialisms in hospitality, food and drink and media and entertainment. “We are looking forward to working with Ben and his team on enhancing and developing a practice wide virtual finance office and our respective sector specialisms. “This recent merger comes on the back of an earlier one this year, with Streets Eadie Young in Banbury, Oxfordshire and this time last year Streets Whittles in Colchester, Essex. In line with our own growth aspirations, we also recently opened a new office in Burnley, Lancashire and are currently in talks with a number of practices around further mergers. “With Streets Steele in Bristol, we now have 23 offices from Burnley in the north to Brighton in the south. “Whilst many large firms have moved to more regional models, Streets remains committed to and focused on looking after clients that live, work and operate businesses in the local area. This approach is very much at the heart of our strategic focus for growth, which is likely to include further mergers of like-minded firms. Our aspiration is to become a top 20 UK practice by 2030.”

MTMS founder shortlisted for Rail Benefit Fund’s Heart of Gold Awards

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MTMS founder shortlisted for Rail Benefit Fund’s Heart of Gold Awards

A business owner who has dedicated more than two decades to the rail industry has been shortlisted for a prestigious award for his tireless work helping those less fortunate.

Malcolm Prentice, group chairman of MTMS, based in Moira, near Swadlincote, is in the running for the Lifetime Achievement award for the 2023 Rail Benefit Fund’s Heart of Gold Awards.

The awards celebrate those in the rail industry who have made a real difference in their workplace or community. The nominations are put forward by those working in the industry to thank people who they appreciate, value and inspire them.

Organisers said they received more than 90 nominations as they were “flooded with many inspiring and heart-warming stories.”

The award nomination says of Mr Prentice: “Malcolm Prentice has been a leader, mentor, and generous benefactor in the rail industry for over 20 years. With his heart-warming, gentle approach, patience and engaging good humour, he has shown limitless, and often unseen, benevolence and generosity.

“Caring for the poorest in society across big rail hotspots of the Midlands, he has helped countless young people in their development. With a focus on those in care, Malcolm has arranged Christmas lunches for those who are released from care and are finding life difficult.

“Recently he established hardship funds for cadets, and for decades he has supported hundreds of recently discharged veterans, many of whom work in the rail industry now.

“For over 40 years he has been quietly providing a springboard for the least fortunate in society whilst mentoring those new into business and providing professional guidance that has led many to generate success.”

Mr Prentice, whose charitable work includes a party at Christmas for young people who have come out of the care system and supporting the Armed Forces cadets, said: “I’m almost embarrassed to be nominated, but extremely privileged.

“I hope that if I do win, it would enable me to be a mouthpiece for the small UK manufacturing rail industry. This is a changing industry so they do need to have that voice.

“Businesses work with many charities and they do what they can to help young people. This is not about me. I am humbled by it but this is for the SMEs and to support the industry.”

There are five award categories that contenders are shortlisted for – Rising Star, Lifetime Achievement, Team, Wellbeing Champion and Rail Hero Award.

Voters have until October 31 to select their winner.

The winners will be announced online once the voting has closed and they will be invited to London later in the month to receive their awards from Rail Benefit Fund president Pete Waterman.

College’s £3.5m automotive training facility gets go-ahead

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College’s £3.5m automotive training facility gets go-ahead
Plans by Derby College Group to extend one of its sites to create a workshop for engineering students have been given the green light. Earlier this year, the college lodged proposals with Derby City Council for the extension at the rear of the current Stephenson Building at its Roundhouse campus on Pride Park. Now, the city council’s planning committee have given the scheme the go-ahead. The two-storey motor vehicle facility, which is due to open in September next year, has been made possible thanks to £3.5 million from the Government’s Post 16 Capacity Fund. Speaking in July, Steven Elliott, the college’s head of technology apprenticeships, said: “This facility will help strengthen the automotive skills of today’s learners and support the education of the next generation. “We want to inspire anyone who is interested in working in the automotive industry as it is an ever-changing and exciting area to work in. It really has evolved and it’s now an extremely technical industry which requires an abundance of new skills. “By creating this propose-built training centre, DCG will be perfectly placed to meet the needs of the learners and of the employers.” The new facility is a response to changing automotive technology, including the evolving requirements for electric vehicles. The college said it will meet local and national skills requirements and is reflective of learner demand. The building itself will be built in the most efficient and sustainable way in order to achieve net-zero carbon emissions. To accomplish this, the construction will be future-proofed and will incorporate air-source heat pumps, thermal-resistant materials and solar panels. Speaking in July, Iain Baldwin, director of estate at Derby College Group, said: “The building will be in the region of 1,150 metres and will incorporate facilities such as high-level lifts, and a double workshop and will be designed to integrate with the existing Stephenson Building. “And the construction will be environmentally friendly incorporating the latest building techniques and materials.”

Council leader gives “untold damage” warning on rail interchange

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Council leader gives “untold damage” warning on rail interchange
“Untold damage” to rural communities is in store if plans for the huge 662-acre Hinckley National Rail Freight Interchange (HNRFI) go ahead, according to Councillor Terry Richardson, Leader of Blaby District Council. He says the scheme, earmarked for swathes of countryside southwest of Elmesthorpe, would change the rural character of the District and its village communities forever. His warning comes as the Council submits its latest formal submission, the Written Representation. In it the Council says it “vehemently opposes the HNRFI due to the far-reaching adverse environmental and social impacts it would cause in the local area.” The Written Representation and a Local Impact Report, highlighting serious concerns about the scheme, have been lodged with the Planning Inspectorate. The Inspectorate is scrutinising the rail freight hub plans, during a six-month examination. Proposed by developer Tritax Symmetry, the hub would sit between the M69 and the Leicester to Birmingham rail line. Neither the Council, nor the Planning Inspectorate can approve nor reject the plans. Due to its status as a National Infrastructure Project its fate will ultimately be decided by the Secretary of State for Transport. However, as a statutory consultee, the Council can raise issues through written submissions as well as at the various meetings and hearings which are taking place through to next spring. Building on previous concerns, the Council’s Written Representation says the scheme has significant deficiencies and fails to mitigate some of its most negative impacts. Objections include that it:
  • Does not have a sufficient transport strategy in place and so will cause significant adverse road network impacts
  • Has not been subject to adequate consultations with local residents
  • Does not include a satisfactory noise pollution assessment
  • Fails to explain the impacts in neighbouring villages such as Narborough from the increased rail crossing barrier downtime
  • Does not provide adequate plans to retain employment benefits in the District
Cllr Richardson said: “We have raised concerns about these proposals ever since they were mooted and our opposition has not changed – in fact it has become more vehement. This scheme would give rise to untold and irreversible damage to our village communities. “Tritax have completely failed to consult adequately and take on board local feeling. Measures to mitigate some of the most negative impacts of the development simply do not go far enough. We have repeatedly raised these points and Tritax have repeatedly failed to act. “If this proposal goes ahead in its present form our communities would be saddled with a monstrous blot on the landscape, noise and light glare 24/7 and huge lorries using villages as rat runs. “We will continue to fight these plans and I would urge any members of the public who are able, to join us at the upcoming hearings and help fight them too.”

Agri-food firms can tap into funding from new £7.5m pot

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Agri-food firms can tap into funding from new £7.5m pot
Agri-food businesses in Greater Lincolnshire and Rutland can now apply for funding from a £7.5m pot to support innovation and growth.
A partnership of the Greater Lincolnshire Local Enterprise Partnership, New Anglia LEP (covering Norfolk and Suffolk), and the Cambridgeshire & Peterborough Combined Authority has been awarded the funding from Innovate UK under the Launchpads programme. The programme welcomes SMEs in the region to apply for competitive grants for R&D and innovation projects that focus on agrifood. The grant funding available starts from £25,000, and up to £300,000 is available for projects that provide exceptional impact to the cluster. To be eligible, projects must make a significant contribution to one or more of the following:
  • enhancing the productivity of primary crops, the bioeconomy, livestock, aquaculture or ornamental plants
  • biotechnologies related to agriculture, food and nutrition
  • food that promotes safe, healthy and nutritious diets
  • resource-efficient production methods for low-emission foods
Projects can focus on one or more of the following:
  • sustainability in the context of environmental challenges such as climate change and resource scarcity
  • protecting, maintaining or enhancing animal welfare within current UK regulatory standard
  • nutritional composition, food manufacturing and processing, packaging, and safety
  • minimising negative effects such as pollution, food loss and waste
  • resilience and responsiveness in the supply chain, mitigating risks, interruptions or disruptions
Businesses applying for grant funding must either be based in Greater Lincolnshire and Rutland, Norfolk, Suffolk or Cambridgeshire, or be able to demonstrate how their project will significantly benefit those areas. Sarah-Louise Fairburn, Chair of the Greater Lincolnshire LEP’s Food Board, said: “The announcement of a Launchpad supporting SMEs in our agrifood sector is warmly welcomed. “This news comes just days after the announcement of a £4.9 million grant from the Engineering and Physical Sciences Research Council to help transform the Lincolnshire and north Cambridgeshire (LINCAM) region into a global innovation centre for agricultural technology. “The team at the Greater Lincolnshire LEP has worked hard over a number of months to secure one of only eight Innovation Launchpads in the country for the Lincolnshire food and agritech sectors. “Both announcements put us firmly on course to achieve the ambitious goal of the new UK Food Valley, which is to establish Greater Lincolnshire as a top 10 global food cluster.”
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