Move of customer service operation to Derbyshire sees Frasers Group put 100 jobs on the line

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Move of customer service operation to Derbyshire sees Frasers Group put 100 jobs on the line
Frasers Group’s plans to move the customer service operation of its Studio Retail business in Accrington, Lancashire to its Derbyshire HQ in Shirebrook have been revealed. Reports in the Lancashire Telegraph indicate that the retail giant has entered into a consultation with 100 staff, who were contacted via email of the plans which aim to improve operational efficiency. It has been reported that employees will likely be made redundant on 26 November. Frasers Group acquired Studio Retail out of administration last year. The news comes as Frasers Group further increased its stake in Boohoo from 13.4% to 15.1%.

Next to acquire FatFace for £115.2m

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Next to acquire FatFace for £115.2m

Leicestershire retailer Next has signed terms to acquire FatFace for a total equity value of £115.2m from a consortium of Financial Institutions.

The consideration will be settled partly in cash and partly by the issue of new Next shares and management equity rolling over into the new structure.

Upon completion of this transaction, which is expected to take place within the next few weeks, Next will hold 97% of the equity and FatFace’s management will hold 3% in the business. Management will also participate in an additional performance related equity scheme.

FatFace will retain its management autonomy and creative independence. The company will retain its own Board of Directors and continue to be based in Havant, Hampshire. FatFace has been a LABEL brand selling on next.co.uk since 2016 and it is anticipated that it will migrate its online operations onto Next’s Total Platform within the next twelve months.

The deal follows a period of strong trading for FatFace under the leadership of its CEO Will Crumbie. In the 52 weeks to 27 May 2023, FatFace achieved total sales of £282m. Statutory profit before tax in the same period was £19.5m.

Digital channels account for 40% of FatFace sales, with the remainder largely coming from their retail stores. It is anticipated that the company will continue to trade and develop its own retail store portfolio.

Will Crumbie, who joined FatFace as CFO in 2014 and became CEO in 2021, will continue to lead the business.

Shoe Aid charity to benefit from local fundraising

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Shoe Aid charity to benefit from local fundraising
Staff members at Nottingham-based accountancy firm Page Kirk showed their support for charity once again last month and their choice of beneficiary shows they have their feet firmly on the ground. Shoe Aid is the cause set to benefit, which will mean more footwear for people who need it most from those who are homeless to children living in poverty. Page Kirk supported Shoe Aid’s September campaign, ‘Steptember, stepping up to footwear poverty’. The campaign involved Tuesdays transforming into, ‘Shoesdays’, where the charity asked their supporters to take part in fun and creative ways to raise awareness. A range of fundraising events were organised at the accountancy firm, Page Kirk, including a day when people wore odd or old shoes, a shoe-themed bake sale and a shoe-throwing competition. The staff also asked family and friends to donate old shoes that could be used by the charity. All the fun was overseen by Page Kirk’s Head Receptionist Amanda Willis, who visited Shoe Aid’s Nottingham HQ and saw at first hand the value of the work the organisation does. Shoe Aid can provide anything from school shoes and sports shoes through to prom shoes. Any footwear, in fact, that will help people in need lead a more active and fulfilling life. It also focuses on supporting the 280,000 homeless people in the UK, 10,000 of whom live on the streets. “It has been great fun supporting such a worthwhile organisation,” said Amanda Willis, “and we’re delighted that the money we’ve raised and items we’ve collected will go towards helping people get hold of some of the essentials of life: a decent pair of shoes.” Andy Hughes, CEO of Shoe Aid, said: “There is global footwear poverty which impacts 1.5 billion people worldwide. We believe it’s wrong that millions of unwanted shoes end up in landfill, almost two million every week. It’s been wonderful to see so much enthusiasm and commitment from our friends at Page Kirk, helping us to make a difference.” If any other business is interested in supporting Shoe Aid – or indeed another charity – it’s possible to benefit from tax relief. Page Kirk’s accountants are able to offer advice as to the best way of reducing corporation tax liability by donating to a good cause. Find out more here: https://www.pagekirk.co.uk/news/blog/archive/article/2023/September/tax-benefits-of-charitable-giving

First units sold at new Leicestershire business park

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First units sold at new Leicestershire business park

Units A and B at Beauchamp Business Park, a new commercial development in Kibworth, Leicestershire, have now been sold. Purchased by a Leicester-based family of investors, the deal demonstrates the strength of demand from local businesses for sites at the scheme.

Beauchamp Business Park is being brought forward by Clowes Developments and its team including IMA Architects, TanRo, Millward Consulting Engineers, Gateley’s Legal and Postins Project Services. Philips Sutton and TDBRE have been instructed as agents on the scheme.

The first to be sold, Units A and B are both prominent, road facing buildings comprising a total of 25,169 sq ft. Along with Units C and F, they are being constructed by lead contractor TanRo, along with IMA Architects who are providing all architectural services and acting as Principal Designer on the scheme.

Construction is underway at the site with the steel frames currently being put into place. Phase One completion is expected in April 2024 with Phase Two coming at a later date. When complete, the site will feature a series of freehold and leasehold industrial units ranging from 1,270 sq ft to 10,085 sq ft.

Paul Turner, construction director at Clowes Developments, says: “We are proud to be delivering another scheme that will benefit the East Midlands economy and boost job creation in the local area.

“We have seen strong demand for the buildings at Beauchamp Business Park, with the majority of enquiries coming from local businesses and investors, as demonstrated by the sale of Units A and B.”

Agents Phillips Sutton and TDBRE have been working closely with interested parties during the planning process which has seen Beauchamp Business Park receive unprecedented interest from day one.

North Nottinghamshire aviation firm secures multi-million pound export growth support

Stuart Pearcey
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North Nottinghamshire aviation firm secures multi-million pound export growth support
DEA Aviation Limited  has secured growth funding worth £16.5m from Santander UK  with the support of UK Export Finance, the UK’s export credit agency Based at Retford Gamston Airport in North Nottinghamshire, DEA provides specialised aerial data acquisition services to the intelligence, surveillance & reconnaissance, search & rescue and aerial mapping sectors. It provides critical security services demanding class-leading safety and compliance processes. DEA now employs over 200 people worldwide, most of whom are highly-skilled engineers, pilots, sensor operators, systems architects and software developers operating from accredited facilities in Nottinghamshire. The funding has been secured thanks in part to a UK Export Finance guarantee issued under its Export Development Guarantee product. This allows DEA to unlock substantial new funding and replaces existing term loans. DEA expects to use the additional growth funding to create jobs and to increase capacity and capability investment to meet customer demand in its complex and growing end-user markets across the UK, Europe and beyond. Joanna Allen, CFO of the DEA Group, said: “We are pleased to have been supported by Santander UK and UKEF in this refinancing as the group enters its next phase of growth. The funding recognises that DEA is a substantial exporter and will enable the company to continue to expand its services internationally where we have built a strong reputation with prestige customers in Europe and beyond. Liz Pickering, Relationship Director at Santander UK, said: “DEA is a key provider of services in the region and we believe this is the right funding structure to enable DEA to fulfil the exciting future growth opportunities in critical sectors.”

Kia to open new 40,000 sq ft training academy at St. Modwen Park Derby

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Kia to open new 40,000 sq ft training academy at St. Modwen Park Derby
St. Modwen Logistics, the logistics developers and managers and a Blackstone portfolio company, has leased a c.40,000 sq ft bespoke unit to global automotive company Kia for use as a cutting-edge new training academy for the next generation of Kia employees. Kia UK Limited will take occupation by the end of 2023 following an extensive fit out period. The unit has been adapted to suit Kia’s requirements, including the installation of additional power, facilitating advanced electrification training and upskilling on STEM subjects to enable Kia’s apprentices and adult learners to meet the evolving demands of increasingly electrified vehicles. The academy also opens up significant opportunities for Kia’s growth, enabling the company to increase delegate numbers, expand its range of electric vehicles, and enhance service capacity. Built to St. Modwen’s Swan Standard of sustainable construction, the asset is EPC A rated and has BREEAM ‘Excellent’ accreditation. The academy will not have a new gas supply and will instead utilise heat pumps for heating. Furthermore, high-efficiency photovoltaic cells have been installed on the rooftop which will harness renewable energy. The property is fitted with EV charging ports and benefits from intelligent LED lighting, smart metering and an on-site fitness trail. Designed with sustainability and wellbeing at its core, the asset supports customers on their own net zero journeys and encourages a healthy, active workforce. Kia is the latest global business to establish an educational hub at St. Modwen Park Derby, following Swedish medical technology manufacturer Getinge, which in February 2023 announced plans to establish a new Global Centre of Excellence for Chemistry and UK headquarters at the Park. Kia also becomes the latest occupier at the site to have a clear focus on sustainability, following the arrival of Vaillant to St. Modwen Park Derby earlier this year. The German firm will use the new high-tech factory to meet growing demand for its air-source heat pumps. Sarwjit Sambhi, Chief Executive Officer of St. Modwen, said: “We are incredibly proud to welcome Kia’s training academy to St. Modwen Park Derby. “Our site offers a high-quality, sustainable environment that aligns perfectly with Kia’s vision for eco-friendly operations. The adjacent wildlife reserve ensures a positive impact on the health and wellbeing of staff and delegates, making it an ideal setting for learning and growth.” Paul Philpott, president and CEO of Kia UK Limited, added: “We are thrilled to bring our new and enhanced Kia Academy to Derby. This move represents our commitment to supporting STEM education, driving electrification and helping our dealer partners build the workforce and skills they need for the future. “Our investment in the new training Academy showcases our unwavering commitment to excellence, innovation and sustainability, while solidifying Kia’s position as a leader in electrification and the automotive industry.”

133-year old Leicestershire-based noise control business sold

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133-year old Leicestershire-based noise control business sold
RSM UK has sold Hodgson Acoustics Company Ltd’s business to Wiltech Acoustics Ltd, saving the jobs of all 80 employees. Glen Carter and Phillip Sykes of RSM UK Restructuring Advisory LLP were appointed as joint administrators of Hodgson Acoustics Company Ltd on 20 September 2023. Based in Leicestershire and with origins tracing back to 1890, Hodgson Acoustics operates in the industrial noise control and acoustic solutions sector, specialising in the design, manufacturing and installation of acoustic canopies. The company fell into administration due to capacity and efficiency issues which resulted in delays to ongoing orders and subsequent cashflow problems. The sale is to Wiltech Acoustics Ltd, an associated company of WB Power Services Ltd, which specialises in providing critical power, maintenance and hire solutions to organisations including data centres, hospitals and military facilities. All 80 employees together with certain assets will transfer to Wiltech Acoustics, giving them full control over the manufacturing process and allowing them to offer top quality, bespoke acoustic solutions to businesses. Glen Carter, restructuring advisory director at RSM UK and joint administrator, said: “We are pleased that this sale has resulted in the continued employment of all staff and minimised disruption to key customers of the business. We are confident that the transaction has secured the best possible outcome for creditors given the circumstances and wish the purchaser all the best as they take the business forward.”

Melton Mowbray-headquartered pet food producer acquired

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Melton Mowbray-headquartered pet food producer acquired

Entrepreneur Peter Mangion, founder and CEO of Assisi Pet Care Group, a producer of pet foods and treats, has partnered with Wind Point Partners, a Chicago-based private equity firm which has approximately $6 billion in assets under management.

The deal was supported by a team of Leeds-based legal and financial advisers and provides a successful exit for Harwood Private Equity.

Headquartered in Melton Mowbray, the company’s products are sold in the UK and throughout Europe, with two natural treat production facilities located in Poland. Assisi is a key partner to leading customers across the grocery, e-commerce and pet specialty channels, offering a broad array of branded and private label products.

Assisi was founded in 2020 as a platform to acquire, integrate and grow leading pet food and treat companies with established reputations and strong potential.

Under Mr. Mangion’s leadership, Assisi has grown significantly through the implementation of organic growth initiatives and the completion of four acquisitions that expanded the company’s product capabilities and geographic reach. Assisi represents the second partnership between Wind Point and Mr. Mangion, who previously served as CEO of a Wind Point investment in the pest control industry.

A team of Leeds-based advisers has supported Assisi’s growth journey, advising through its four acquisitions. The team included Jonathan Simms, Hitesh Tailor, Tony Berry and Isabelle Hammond of Clarion who provided legal advice; Richard Firth and Daniel Swanwick of Park Place who provided corporate finance advice; and Russ Cahill of Tax Advisory Partnership who provided tax advice.

Mr. Mangion said: “Assisi has been on a tremendous journey since its inception in 2020, which is a testament to the strength and quality of our people, our customer and supplier relationships and the rich heritage of our brands and products. Wind Point and I have worked closely together for numerous years. Our shared focus on investing in our people and expanding our capabilities makes them the ideal partner for Assisi.”

Adam Jump, vice president at Wind Point, added: “Assisi is a rapidly growing platform with significant opportunity in the dynamic European pet care industry. Peter and the Assisi management team have built an outstanding business that sits at an exciting inflection point. We look forward to supporting the Assisi team as they continue to build a differentiated pet foods and treats platform.”

Wind Point is a long-time investor in the pet and animal nutrition industry, with select prior and current investments including targeted PetCare, FoodScience, Petmate and Pestell Nutrition.

Reed Smith LLP served as legal counsel to Wind Point and KPMG LLP provided transaction advisory services in connection with the transaction.

Sweetening the deal: Cookies for Heroes

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Sweetening the deal: Cookies for Heroes
In a world that’s constantly on the move, there are those who stand steadfast, dedicated to serving and protecting others. These are our everyday heroes – the individuals who selflessly give their all to ensure our safety, health, and education. Yet, too often, their unwavering commitment goes unnoticed and unappreciated. Motor Source Group believe it’s time to change that. It is proud to introduce the heartwarming campaign, Cookies for Heroes, an initiative aimed at recognising and celebrating the heroes in our communities who serve in the NHS, Police, Prison Service, Fire & Rescue Services, Military, and the teaching profession. A token of gratitude Cookies for Heroes is a way to show appreciation to those who tirelessly work behind the scenes, making sacrifices for the greater good, and every month, Motor Source Group will be sending out a box of delicious cookie box treats to say thank you. Steve Thornton, founder and CEO, said: “We have always strongly believed in thanking our communities with our mission firmly focused on recognising and rewarding our emergency services and other public sector personnel with our unique new car discounts programme. “In the current climate, we understand the time and financial struggles people are facing, so now more than ever our everyday heroes deserve to know they are appreciated, and we’re here to tell them in the sweetest way possible – with cookies!” Nominate your everyday hero We invite you to nominate your everyday heroes. These could be the doctors and nurses working tirelessly in our hospitals, the brave officers on our streets, the compassionate educators shaping our children’s future, and so many more. If you know an individual, team or department who goes above and beyond in their service, it’s time to shine a spotlight on them. Nomination is easy! Simply fill out the nomination form here: tinyurl.com/motorsourcecookies Share why they deserve recognition, and how they’ve made a difference in your life or your community. Motor Source Group can’t wait to read your inspiring stories and honour these exceptional people. Don’t forget to share this with your friends and colleagues too so Motor Source Group can send out more sweet treats. Supporting another small business too Motor Source Group’s cookies aren’t just any cookies; they are handmade, bespoke, and crafted with love by a local small business, Cookie Doodle Doo in Lincolnshire. So not only will you be spreading cheer to your deserving colleagues, you will also be supporting a small business too. Together, we can make a difference Motor Source Group firmly believes that a small act of kindness can go a long way. Cookies for Heroes is its way of saying thank you, but it’s also an opportunity for all of us to collectively express our gratitude to the heroes who keep our communities safe, healthy, and educated. Together, we can make a difference and bring smiles to the faces of those who work tirelessly to make the world a better place. Join us in this heartwarming campaign and let’s sweeten the lives of our everyday heroes one cookie at a time. Nominate your everyday heroes today: tinyurl.com/motorsourcecookies

British Gypsum supports inmate rehabilitation with donation to Willmott Dixon programme at HMP Lincoln

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British Gypsum supports inmate rehabilitation with donation to Willmott Dixon programme at HMP Lincoln
British Gypsum has made a donation to Willmott Dixon’s Building Lives Programme, in support of the Drylining Academy for inmates at HMP Lincoln.  

The programme, aimed at imparting drylining skills to inmates, not only equips them with valuable trade skills but also paves the way for successful reintegration into society. 

In an ongoing commitment to uplifting local communities, British Gypsum has donated essential materials for the Willmott Dixon initiative at HMP Lincoln. The donation includes British Gypsum Plasterboard, timber sole plates, various screws, studs, and fixing straps, all of which are integral to the drylining training program.  The Drylining Academy is instrumental in providing inmates with a unique opportunity for personal growth and skill development. By participating in the drylining training program, inmates not only gain a valuable trade skill but also earn qualifications that significantly enhance their employability upon release.  “The donation to the Drylining Academy exemplifies our shared commitment to community well-being and sustainable rehabilitation,” said Sam Blacknell, head of skills partnership at British Gypsum. “We are honoured to contribute to a programme that empowers inmates with skills and knowledge, offering them a chance to rebuild their lives and embark on a new path of success and independence.”  The Willmott Dixon drylining training programme aligns seamlessly with HMP Lincoln’s mission to promote inmate rehabilitation and reintegration. With the unique ability to provide inmates with training, testing, and CSCS card certification within the facility, HMP Lincoln is a pioneer in preparing inmates for a smooth transition back into society and offering them a specialised skill set that opens doors to various employment opportunities.  Shelley Williamson, social value manager at Willmott Dixon, said: “We are deeply committed to driving sustainable change through our initiatives. The partnership with British Gypsum is a testament to our shared dedication to social impact and redefining the lives of individuals within our communities.” 
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