Third acquisition in two months for Cooper Parry
Derbyshire-based Cooper Parry has acquired London financial planning business, Future Perfect, to become part of the Cooper Parry Wealth family.
The deal quickly follows the acquisitions of ihorizon, one of the UK’s leading early stage accounting players, and Acclivity, a boutique advisory firm specialising in accountancy, tax and consultancy to entrepreneurs and high growth early stage businesses.
All three are London-based, specialist firms and take Cooper Parry’s total headcount to over 540.
Ade Cheatham, Cooper Parry CEO, said: “It’s been an incredibly fast start to the year and we’re on a roll. This Future Perfect deal is another sign of Cooper Parry’s 100% commitment to size and scale through the PE-backed acquisition of high calibre firms – who are the right fit – to help drive our ambitious client-first growth.”
Stephen Jones, Cooper Parry Wealth CEO, said: “Right from the first tentative conversations with Future Perfect, we realised there was a genuinely likeminded approach. A proper connection. Both firms share a very similar philosophy. As a result, the client experience should be very smooth from the word go.”
Sue Royle, co-founder, Future Perfect, added: “We were really impressed by the dynamic culture and ambition to be a leading financial planning force in the UK. It’s clear that everything’s in place to deliver an enhanced experience for our clients. I can’t wait for this new chapter to begin.”
Nick Crowe, co-founder, Future Perfect, said: “In recent years, we’ve had a good deal of interest from other businesses. We have always had some key non-negotiables. Cooper Parry Wealth ticked every box – and plenty more. They are well-established, credible and will provide our client base with a perfect new home.”
Accountancy team goes eggstra mile for kids this Easter
Children who’ve faced a difficult start in life will benefit from some Easter joy this year, thanks to the fundraising work done by East Midlands accountancy firm Page Kirk.
Generous team members have donated Easter Eggs to the NSPCC’s Midlands Hub, which runs vital services including DART – a domestic abuse recovery programme for children and parents – as well as an online safety initiative for primary school kids called InCtrl.
Amanda Willis, head receptionist at the accountancy firm based in Nottingham, takes responsibility for co-ordinating the fundraising efforts.
“At Page Kirk, we wanted to do our part to support the NSPCC’s important work. We hope these chocolate treats will bring some normality and joy to children who’ve sadly faced a number of problems in their lives,” she says. “It’s great to know that we’re supporting an important cause like the NSPCC and we’re intending to help a number of other charities in the months ahead.”
The NSPCC Midlands Hub, which has been based out of Jenny Farr house in Nottingham since 1985, provides a range of services to support local families, including their Direct Services team and Childline colleagues, as well as those from the Schools Service, Local Campaigns and Fundraising.
Beth Thomas, who works at the Midlands Hub, expressed her gratitude for the donation, saying: “Thank you so much for your wonderful donation. All of those Easter goodies are on their way to some lovely children that we’ve been working with over the last couple of months on various programmes.”
As part of Page Kirk’s commitment to corporate responsibility, they have pledged to support 12 charities throughout 2023, a different one each month. January saw them donating baby items to charity Baby Basics in Long Eaton, while in February they raised much needed cash for Brinsley Animal Rescue.
Next to benefit will be survivors of sexual violence, who are the focus of the firm’s charity work throughout April. The direct beneficiary will be Nottinghamshire Sexual Violence Support Services (Notts SVS Services), which provides free support to anyone aged 18 or over living in Nottingham or Nottinghamshire, who has experienced sexual abuse, sexual violence or rape.
The organisation offers a helpline, counselling and therapies, email support and group support. It also provides Independent Sexual Violence Advisers for those going through the criminal justice process and people who have survived institutional child sexual abuse.
Karen Jardine, campaigns and communications officer of Notts SVS Services, said: “Notts SVS Services are delighted to be Page Kirk’s chosen charity for April. Sexual violence affects many people’s lives and yet it is rarely talked about.
“This can increase the feelings of shame and isolation for survivors. Through their fundraising, Page Kirk are not only helping to change the lives of those who have experienced sexual violence, but are also letting them know that they are valued and are seen.”
Northamptonshire accountancy firm expands
An accountancy firm has expanded its offering in Northamptonshire by expanding into a second office and setting up a YouTube recording studio.
N-Accounting, which is based in Burlington House on Wellingborough Road, is now occupying an additional office in the same building, giving the team extra space and providing more client opportunities.
The office now offers a separate meeting room for client privacy, internal meetings and planning sessions for the company’s popular Quarterly Planning Days, the next of which takes place in June.
The extra space is also being used to film content for the firm’s dedicated YouTube Channel and other social media platforms. Managing Director Nishi Patel is recording his popular podcast Unrelenting Drive from the new studio.
Managing Director Nishi Patel said: “As an ambitious firm which focuses heavily on growth and opportunity, we are thrilled to have moved offices and now be able to record our video content in-house. We were keen to stay in the great location of Burlington House, so it is fantastic that they have been able to accommodate our growth.”
N-Accounting have also hired a new marketing assistant who will bolster the team’s promotional capacity and lead generation, as well as an admin and bookkeeping assistant to strengthen the team.
Company fined £2.3m after workers put at risk of death
A major pipeline transportation company has been fined £2.3 million for safety breaches after its employees were exposed to risk of serious injury and even death while working on a leaking pipeline containing petrol under pressure.
Workers at Exolum Pipeline System Ltd, formerly known as CLH Pipeline System (CLH-PS) Ltd, were excavating a suspected pipeline leak in the woodland adjacent to the B1398 and M180 near Holme, North Lincolnshire, between 7 to 10 March 2018. The employees were working in an area where a previous repair had taken place.
The risks arising from the excavation work and exposure were significant. An unknown defect on the previous repair of the pipeline which contained petroleum under high pressure had the potential to form a flammable cloud extending over several metres from the work area, causing those in the immediate vicinity to potentially be covered in a heavy spray of petrol and engulfed in petrol vapour. If ignition had occurred before the area could be evacuated, then there would have been a very high risk of death or serious injury.
An investigation by the Health and Safety Executive (HSE) into the incident found that Exolum Pipeline System Ltd failed to properly identify and control the risks associated with carrying out a pipeline repair.
Exolum Pipeline System Ltd, of King William Street, London, was found guilty of an offence contrary to Section 2(1) of the Health and Safety at Work etc. Act 1974 and an offence contrary to Section 3(1) of the Health and Safety at Work etc. Act 1974 following a trial at Grimsby Crown Court. The company was fined £2.3 million and ordered to pay £157,431 in costs at Grimsby Crown Court on 24 March 2023.
HSE inspector Mark Leadbetter said: “This incident had the potential to cause serious injury or death to multiple casualties and could so easily have been avoided by simply carrying out correct control measures and safe working practices.
“Companies should be aware that HSE will not hesitate to take appropriate enforcement action against those that fall below the required standards.”
Pre-let deal sees Maersk establish new centre of excellence at East Midlands logistics park
SEGRO has completed a pre-let deal with Maersk, which will see the Danish shipping and logistics company establish a new centre of excellence at SEGRO Logistics Park East Midlands Gateway (SLPEMG).
Maersk will occupy a new 685,000 sq ft warehouse, designed specifically for them, which will complete in June 2023. In alignment with SEGRO’s net-zero 2030 and Maersk’s net-zero 2040 commitments, the unit is being constructed to be net-zero for both embodied and operational carbon.
It will incorporate a full roof mounted PV array and extensive use of recycled construction materials. Provisions will also be made for the operation of a fully electric fleet of HGV vehicles in the future. The development expands Maersk’s offering of end-to-end logistics in the UK significantly and is the first bespoke pre-let logistics unit that the company will operate in the country.
SLPEMG is SEGRO’s flagship national big box scheme, a 700-acre development that has delivered over 4.5 million sq ft of sustainable logistics workspace. As part of the UK’s only inland freeport, the site incorporates a 50-acre Strategic Rail Freight Interchange (SRFI).
Maersk selected SLPEMG as the site most capable of delivering operational excellence for their customers’ needs, with its central strategic location and on-site rail freight terminal providing a direct link to the seaports of Felixstowe, London Gateway and Southampton, amongst others, in order to minimise logistics emissions and significantly reduce on-road freight mileage. The benefits afforded to Maersk’s operation by the East Midlands Freeport further helped the case for choosing SLPEMG.
SEGRO Logistics Park East Midlands Gateway started construction in 2017. The site was initially anticipated to be a 10-year programme, however, occupier demand and leasing success has exceeded expectations, as the last big box plot now been leased.
Andrew Pilsworth, Managing Director, National Logistics, SEGRO, said: “SEGRO Logistics Park East Midlands Gateway is especially attractive to customers like Maersk due to the development’s scale, connectivity and our determination to develop to the highest quality and sustainability standards. The extraordinary pace at which we have delivered this scheme illustrates this.
“We are very excited to welcome Maersk to SLPEMG and as a new customer to SEGRO. We also welcome the additional employment and economic activity it will bring to the East Midlands, building on the 6,000 jobs already created at SLPEMG.”
Paul Woolass, head of Logistics and Services Products UK & Ireland, Maersk, said: “SEGRO Logistics Park East Midlands Gateway is very much the perfect blueprint for optimising connectivity and flexibility within supply chains. Not only is it ideally positioned in the UK, but the vast infrastructure and cutting-edge technology across the site means operations on UK shores can be done from one place in the most sustainable way possible. It is the epitome of two of Maersk’s key visions for the future: integrating logistics and reaching net-zero emissions by 2040.”
Double deal on Innovate Mews
Ventro Ltd and Hire Giant Ltd are the newest tenants at Innovate Mews, a business park located within minutes of J27 of the M1.
The units comprise circa 1,500 sq ft of office accommodation across two floors with designated car parking spaces.
FHP have secured both tenants with one deal being an off-market transaction and the other securing the tenant within the second week of marketing. Both occupiers have settled into the units, putting the block of offices at full occupancy again.
Amy Howard, surveyor at FHP Property Consultants, said: “With securing an off-market deal I was apprehensive to see if we would get the same result at Unit 1, especially given the level of office stock available within close vicinity to the subject property. It was a great result on both units for my client and I am delighted that both deals have now completed.
“The level of enquiries remained strong throughout the duration of Unit 1 being advertised as ‘Under Offer’ so there is certainly demand in the out-of-town business parks within the sub-3,000 sq ft sector. I wish both Hire Giant and Ventro Group all the best in their future endeavours.”
FHP’s retained client said: “As a remote landlord I rely totally on FHP to find new commercial tenants and manage my property. Amy Howard managed two lettings for me recently – both negotiated successfully. She is commercial, responsive and gets results.”
Share placing sees Light Science Technologies raise £1.5m
Derbyshire-headquartered Light Science Technologies, the controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group, has conditionally raised gross proceeds of £1.5 million through the proposed issue of 150,000,000 new ordinary shares.
The fundraising consists of the placing of 107,750,000 new ordinary shares as well as a private subscription for 42,250,000 new ordinary shares.
Simon Deacon, Chief Executive Officer of the company, has agreed to subscribe for 15,000,000 subscription shares.
The company also intends to offer up to 50,000,000 new ordinary shares via the Winterflood Retail Access platform (WRAP) to raise up to £0.5 million gross proceeds, to provide qualifying retail investors in the UK with an opportunity to participate alongside the fundraising.
The gross proceeds of the fundraising are expected to be £1.5 million, which will be predominantly used for product development and intellectual property protection within the company’s CEA division, as well as for general working capital purposes, including funding costs associated with the fundraising.
Rolls-Royce announces changes to Board and Executive team
Rolls-Royce is making changes to its Board and Executive Team with several people in new roles.
Helen McCabe will be joining the Board of Rolls-Royce later this year as Chief Financial Officer, bringing more than 25 years of experience in senior finance and performance management roles within complex multinational engineering organisations. Current CFO Panos Kakoullis is to stay in post until the end of August.
She is currently Senior Vice President, Finance for the Customer & Products division of BP, which runs the company’s customer-focused business which reported EBITDA of $13.7bn last year. The exact date on which she will take up her new executive role and position on the Board of Rolls-Royce will be announced later.
Chief Exec Tufan Erginbilgic said: “I look forward to welcoming Helen to my leadership team. Her track record of promoting rigorous financial discipline and experience of delivering performance management to achieve dramatic improvements will be invaluable as we move, at pace, to transform Rolls-Royce.”
Rob Watson has been appointed as President – Civil Aerospace with immediate effect. Rob joined the Executive Team last year as President – Rolls-Royce Electrical. He has been with Rolls-Royce for 13 years and previously held leadership positions in Defence aerospace as well as working as Chief of Staff to the Chief Executive.
As previously announced, Chris Cholerton is moving from his position as President – Civil Aerospace to become Group President, having successfully led the Civil Aerospace business through some of the greatest challenges in its history. As part of this role, Chris will take on executive responsibility for the Group’s nuclear operations. This includes Rolls-Royce Submarines, and the role of Interim CEO of Rolls-Royce SMR while a search is conducted for a successor to Tom Samson who, it has been agreed, will be leaving with immediate effect.
Adam Riddle has been appointed President – Defence, and Chairman & CEO – Rolls-Royce North America with immediate effect. Adam has spent nearly a decade in Defence and played a pivotal role in the recent success of the division in clinching key contracts which will generate multi-year returns.
Mr Erginbilgic added: “I would like to congratulate both Rob and Adam as they take up their new roles. Both are highly experienced leaders and will bring renewed energy and a determination to succeed to Civil Aerospace and Defence. Their appointments are also evidence of the pipeline of senior talent which exists within Rolls-Royce. With the leadership changes announced today we are acting at pace and gaining the momentum we need to transform Rolls-Royce. Together, my leadership team has a winning mindset, strong strategic alignment and a shared ambition to make Rolls-Royce a company that delivers for all stakeholders.”
Construction starts on new Lincolnshire business park
Work has commenced on a new business park in Gainsborough, which will bring around 50 new jobs to the area.
The new business park, named Wharton Place, is being developed by established Lincoln-based developer and contractor, Stirlin.
Once complete, Wharton Place will see the delivery of over 18,500 sq ft of new employment space across 1.3 acres, with a mix of light industrial units in sizes ranging from 1,270 sq ft – 2,500 sq ft, for a variety of business uses.
Wharton Place is Stirlin’s third commercial development in the area, following the success of their Stirlin Place and Willoughton Place.
The site is located on Foxby Lane, adjacent Lincoln County Council’s Business Centre: Mercury House, with excellent access to major road networks.
All ten units on the development will benefit from allocated parking, an electric sectional door, a personnel door and DDA compliant toilet facility, as well as an eaves height of 5 metres to accommodate a mezzanine floor upon request.
Howard Griffith, Stirlin’s Head of Construction, says: “We are delighted to commence works on Wharton Place. We’re seeing a continued demand for modern, cost-effective industrial space in the area, which has prompted the commencement.
“Our investment in the area is a testament to the town’s growing appeal as a thriving place to live, work and invest in. We are pleased to be able to help facilitate the growing local business base and bring new employment space to the area.”
Jamie Thorpe, Chartered Surveyor for Pygott & Crone, says: “It’s very positive to see the development of Wharton Place being brought forward by Stirlin, highlighting the continued confidence in this sector. The Stirlin team have already delivered two very successful schemes in this location and it’s clear that Gainsborough has been needing new modern business space to accommodate demand in the region.”
St. Modwen Logistics reveals £59m second phase of St. Modwen Park Derby
St. Modwen Logistics, the logistics developers and managers and a Blackstone portfolio company, has invested almost £60m to develop an additional c. 350,000 sq ft of new warehouse space at St. Modwen Park Derby.
Due for completion in 2024, this next phase will see St Modwen Logistics and Winvic Construction Ltd deliver a new 147,000 sq ft warehouse which has already been pre-let. Four additional new buildings totalling c. 200,000 sq ft will also be developed to help meet increased occupier demand for mid-sized industrial and logistics units in the East Midlands.
As part of the first phase of development, to date, St. Modwen Logistics has invested more than £45m in delivering over 300,000 sq ft of sustainable warehousing across four units at St. Modwen Park Derby. Completed in December 2022, it has already attracted two international occupiers, with German heat pump manufacturer Vaillant signing for 131,000 sq ft and Swedish medical technology company Getinge establishing a new Global Centre of Excellence for Chemistry at the scheme alongside its new UK headquarters. The quintet of new warehouses will be built to St. Modwen Logistics’ ‘Swan Standard’ for sustainable construction, meaning they will be highly energy efficient and come with an EPC A+ rating, thereby helping customers to reduce their operational costs. All five units will benefit from the installation of rooftop solar panels as standard. Additionally, all five buildings will aim to place in the top 10% of UK new non-domestic buildings for sustainability by targeting an ‘Excellent’ accreditation from BREEAM, the leading real estate sustainability body. In line with the company’s commitment to sustainable development, the Midlands-based company is also strengthening biodiversity at the Park through the creation of a new riverside nature corridor, having already planted 17,000 trees and shrubs as part of the first phase of construction. Located on Wyvern Way – adjacent to the A52 with direct access to the A38, A50 and nearby M1 motorway, and just 13 miles from East Midlands airport – St. Modwen Park Derby is one of the largest regeneration sites in the region and provides strong transport links and access to one of the highest skilled workforces in the country. Robert Richardson, development director at St. Modwen Logistics, said: “Our committed investments in St. Modwen Park Derby now exceeds £100m and our decision to embark on the next phase of development, underlines our confidence in Derby as hub for logistics as well as high-skilled tech and manufacturing. We expect a diversity of demand for the new units and a wide variety of employment opportunities to be generated. “The first phase of construction on the Park was a huge success and we are looking forward to working with Winvic again to deliver this next phase of development.” Ms Amanda Solloway, MP for Derby North, said: “It has been fascinating to see St. Modwen Park taking shape on what was waste ground next to the Wyvern Centre. Last year, I attended the launch event and saw first-hand the huge benefits that it will bring to Derby in terms of job creation and the provision of high-quality warehouse space and the kind of modern, dedicated office space that the city and the wider Midlands needs if it is to grow and prosper. “To see a further £59m invested into the park is therefore amazing news and an example of levelling up at its best!” Paul Simpson, Chief Executive, Derby City Council, said: “This is more great news for the city in what has been a bumper month of major investment announcements, following the decision to make Derby the home of Great British Railways. “In February we also welcomed two industry leaders, Getinge and Vaillant, to St. Modwen Park. Now we can look forward to seeing more in phase two, which will create more jobs and boost our economy further. It’s clear Derby is seen as a fantastic City in which to invest. “It was great to be on site to mark this occasion, and I look forward to seeing more investment in Derby and in the next phase of St. Modwen Park.” Danny Nelson, Winvic’s head of Industrial, Distribution and Logistics, added: “We have built an outstanding relationship with the St Modwen team in delivering the civils and infrastructure package and the four industrial units at Derby – as well assets across other sites – and we’re delighted to have secured the contract for Phase 2. “Sustainability is a fundamental part of both Winvic’s and St Modwen’s DNA and our one-team approach ensures we’re able to help occupiers achieve their own sustainability goals. The team is looking forward to progressing the scheme at pace and we are scheduled to complete all five facilities early in 2024.”