Loughborough insulation manufacturer doubles turnover and adds to board
The appointment of two new board directors has been announced at external wall insulation (EWI) and specialist render system designers, manufacturers, and suppliers, PermaRock, which operates nationally out of Loughborough.
Both longstanding employees, Nigel Watson and Kieran Loftus join the board bringing a combined three decades of experience as the company looks to double its turnover to £12 million this year. The appointments recognise the capabilities of the new board directors, who have both progressed through the business to operate within senior management roles at PermaRock.
Nigel Watson becomes operations director following a quarter century with the business. Joining the business in 1996, Nigel has held several key operational roles at PermaRock, building up targeted commercial insight to help drive the company forward.
Meanwhile, Kieran Loftus becomes logistics director, having originally joined the business more than 15 years ago. Throughout that time, he has used his extensive experience from across the textiles and waste sectors, playing an instrumental role in the growth of the business over recent years.
Sean Waldrum, Managing Director at PermaRock, who has also been with the business for 34 years, said: “Our business philosophy brings performance and experience together with quality and innovation, and this is really reflected in Nigel and Kieran’s appointments to the board. They both bring incredible strengths that help us improve and expand our services and develop our systems even further.
“It’s an exciting time for us, and we’re incredibly pleased to be able to provide the room for growth for our staff. The whole board is now made up of people who have progressed up through the business, setting us up to continue business the ‘PermaRock way’, making sure that we continually improve, while continuing to offer and exceed the levels of service our customers have come to expect from us.”
PermaRock owner Derek Horrocks said: “Having longstanding staff with the strengths to help us both improve and expand our services, while continuing to develop our systems will be central to our continued success as a business as we look to grow even further in the coming years.
“We know that our people are completely instrumental to the success we are seeing as the demands for energy efficiency measures are skyrocketing across all markets. It’s really important to us to continually reinvest in our people, whether it’s the recent refurbishment of our office to enhance the working environment further or providing people with growth opportunities – like Nigel and Kieran.”
Nottingham Express Transit continues trajectory of recovery despite reduced post-pandemic passenger levels
Nottingham Express Transit (NET) has revealed that, whilst showing substantial recovery, as with all public transport operators across the country, it is yet to see passenger volumes recover to pre-pandemic levels.
The comment follows publication of the annual accounts for the year to 31 March 2022 by Tramlink Nottingham Limited, which operates the NET concession. The company reported a loss for the operator as a result of the impacted passenger volumes, and will be liaising with the Department for Transport and Nottingham City Council to put in place further plans to adapt its operations for the post-COVID economy.
Despite not yet reaching pre-Covid levels of traffic volumes in the last financial year, demand has continued to positively increase. The year to March 2022 saw passenger journeys recover to 9.1m, compared to 3.4m in prior years, and that recovery has continued throughout 2022 to 13.5m and around 80 per cent of traffic volumes before the pandemic. This is in line with forecast.
Meanwhile, losses for the transport operator reduced to £20.4m compared to £21.9m last year.
Tim Hesketh, CEO of Tramlink, said: “We remain in such difficult times, thanks to the longstanding effects of the pandemic, the current economic climate and the ongoing high energy costs which are posing some real challenges to our operations. It’s clear the world is a much different place now than just three years ago, and we’re committed to doing all we can to keep up with those changes.
“Nottingham remains committed to its green ambitions and our trams have played a key part in helping the city reach those goals. No one can be certain what the next few years will bring, but we’re confident the trams will continue to be an integral part of everyday life here in Nottingham. We’d like to thank all our staff, partners and loyal customers for all their support over the past year.”
Advance wins £400,000 government funding to upgrade energy performance of 51 East Midlands homes
Advance Housing and Support has been granted £400,000 by the Department for Energy Security and Net Zero (DESNZ) to match its own investment to improve the energy performance of 51 homes in Leicester and surrounding areas.
The housing association applied for the second wave of funding from DESNZ’s Social Housing Decarbonisation Fund (SHDF) at the end of 2022. The grant will be spent across 2023/24 and 2024/25 to bring properties currently graded Energy Performance Certificate (EPC) Band D or E to a minimum EPC Band C.
Ian Gilders, executive director of housing at Advance Housing and Support, said: “We’ve budgeted to spend £16 million over our long-term business plan, to help to reduce our carbon footprint and improve the energy efficiency of our customers’ homes. We’re delighted to have been awarded this funding which gives a real boost to our immediate plans.”
Ian continued: “Our focus will be on improving the insulation of the homes, particularly on older properties where insulation of external walls is required. These measures can have a big impact, particularly on reducing energy usage and therefore costs. People with disabilities are among some of the hardest hit by the cost-of-living crisis so we’re pleased to be able to take action which will help to reduce their bills as well as contribute to lowering carbon emissions.”
Advance’s bid was part of a larger consortium bid known as the Midlands Net Zero Hub, led by Nottingham City Council and involved many councils and housing associations throughout the midlands. The consortium was awarded a total of £47.2m to improve social housing across the midlands. Advance is one of very few specialist supported housing providers to be successful in this bid round.
Lord Callanan, Minister for Energy Efficiency and Green Finance, said: “This investment will help thousands of households to heat their homes for less, keep them warm for longer and could save hundreds on their annual energy bill.
“The green energy sector is growing, and this funding will support green jobs and provide the training needed to deliver these vital upgrades to homes.”
The 2019 Conservative Manifesto committed to a £3.8bn Social Housing Decarbonisation Fund over a 10-year period to improve the energy performance of social rented homes, on the pathway to Net Zero 2050. The SHDF is being rolled out in waves with the second wave totalling £778 million.
Housebuilder fulfills Nottinghamshire school’s reading wishes
In recognition of International Children’s Book Day (2nd April), leading housebuilder David Wilson Homes has donated a collection of books to Sherwood Junior School in Mansfield.
The donation consisted of 15 books from the school’s wish list, which will be used to create a wider selection of choice among its school library.
International Children’s Book Day, which was founded by the International Board on Books for Young People (IBBY), is a celebration of children’s literature, aiming to encourage young people to develop a love of books and reading.
Each year a different country is chosen to sponsor the awareness day, and this year IBBY Greece has been selected.
Helen Simpson, Head of School at Sherwood Junior School, said: “Thank you to David Wilson Homes for donating these books to the children at Sherwood.
“Reading is one of our priorities and we love providing the children with new books to promote their love of reading. The children at Sherwood are excited to read these books as they are added to our school library collection.”
Titles such as the highly rated ‘Two Places to Call Home’ by Phil Earle and ‘The London Eye Mystery’ by Siobhan Dowd were among the books donated to Sherwood Junior School.
Martyn Parker, Sales Director at David Wilson Homes North Midlands, said: “Encouraging children to read and appreciate literature among the communities in which we build is something we regard as very important.
“We hope that our donation of books to Sherwood Junior School will encourage more young people to pick up a book and enjoy getting lost in a great story.”
DfE extends HGV Skills Bootcamps with hundreds more funded places in East Midlands
The Driver Academy Group (DAG) a consortium led by HGV training specialist HGVC, and comprising workforce solutions group Manpower and trade body Logistics UK, has again been awarded the lead role on the Government’s extended Skills Bootcamps in HGV Driving. The scheme will train and place into work hundreds more HGV drivers across the East of England over the coming year. The training courses are available at dozens of locations in the region.
The HGV Skills Bootcamps are flexible courses of up to 16 weeks, giving people the opportunity to build up sector-specific skills. First launched in December 2021, the programme has been extended for a further 12 months until 31 March 2024.
DAG has been awarded a full extension of its original contract with the Department for Education (DfE), with scope for further expansion if capacity allows. This translates to training at least a further 2,160 individuals over the next 12 months and creating almost 2,000 new drivers into the logistics sector.
With cost being the major barrier to entry into HGV Driver training, the DfE funding offers a lifeline for both individual candidates and employers dealing with budget constraints given the cost-of-living crisis.
Within the new contract, DAG will deliver 1,300 partially funded courses. These offer employers a 70% contribution to HGV driver training through the DfE funding. In addition, HGVC will deliver 860 fully funded courses, aimed at individual candidates.
DAG’s 2023/24 programme will primarily focus on the novice training pathways, helping novice drivers gain their Category C (rigid lorry) licence, a Category C+E (articulated lorry) licence or helping those with a Category C licence upgrade to a Category C + E.
Since the launch of the Skills Bootcamps in HGV Driving in December 2021, the DAG has trained around 1,400 drivers. Some 1,070 trainees have now passed their practical test and are ready to drive. In addition, 535 drivers are now in jobs and a further 400 have secured interviews.
662 of these are new drivers having now gained their HGV licence, while 457 are existing HGV drivers who have gained new skills. Qualified drivers are securing starting salaries of up to £40,000.
DAG’s existing programme secured a record number of applications from women, ethnic minorities and younger people. The consortium received more than 10% of applications from female candidates, significantly more than the 1.5% of women who are HGV drivers in the UK currently.
The group also received nearly a quarter of its applications from Black, Asian, and other ethnic minority groups. Currently, just 4% of HGV drivers are from ethnically diverse backgrounds. In addition, approximately 30% of applicants were under the age of 36, a significant step forward when the average age of an HGV driver today is around 50.
The extended Skills Bootcamps in HGV Driving goes live on 1 April 2023. DAG’s scheme is open to any individual holding a driver’s license for over three years or businesses looking to upskill their existing staff.
The training courses are available at dozens of locations across the region.
James Clifford, CEO of HGVC, said: “We’re immensely proud to have been re-appointed on this hugely significant scheme. This is a major acknowledgement of our success and the positive impact that the Skills Bootcamps have had to date in getting new HGV drivers behind the wheel.
“Yet, while the immediate short-term driver shortage has abated, the long-term chronic shortage persists. As we’ve seen, thousands of people in the UK want to become lorry drivers. With further funding, we’re confident we can train even more people in the UK, close the longer-term shortfall of drivers and keep Britain moving.
“Fully qualified drivers coming through the existing scheme are ready to go straight into roles. What’s more, for employers re-considering training budgets, this is a huge opportunity to secure 70% of the funding to train up new drivers or existing staff. While the economy continues to face some major challenges, this scheme really is a lifeline for the UK’s logistics industry.”
Cubo Workspaces exceed 95% occupancy
Cubo has reinforced its position as the UK’s fastest growing provincial serviced office operator, with the news that all five of its flex office spaces have exceeded 95% occupancy.
Cubo Derby and Birmingham are currently operating at 100% capacity. It is the first time all five workspaces have reached almost full occupancy, which has accelerated the company’s planned expansion into other core cities across the UK.
Cubo has a total of 120,000 sq. ft of grade A office accommodation across its sites in Birmingham, Nottingham and Derby, Leeds, and Sheffield.
Over the past three years, occupancy levels have exceeded all expectations, with regional, national and global businesses taking advantage of the buildings’ strategic location and Cubo’s unique offering.
Plans were announced last month to open four new sites. Prime locations in Edinburgh and Manchester have been selected, alongside additional sites in Birmingham and Nottingham due to significant demand.
Cubo, which was launched by property investors Marc and Rebecca Brough, is transforming the traditional serviced office model to enable increasingly intuitive ways of working. It provides an experience-led lifestyle offer to meet the changing needs of businesses – from hot desking to a designated desk, private office, or entire floor.
Derbyshire science firm acquired by Limerston Capital
Contract research organisation Concept Life Sciences, which has offices in Chapel-en-le-Frith, High Peak, has been acquired by Limerston Capital in a carve-out from Spectris plc.
Concept Life Sciences primarily serves the global research and development market, with clients in the pharmaceutical and biotechnology space ranging from blue chip to virtual biotech. The breadth and depth of its expertise ranges from drug discovery and early development through to API manufacturing at multi kilogram scale under good manufacturing practice, which is delivered as a single service or as part of wider discovery and development programmes.
The company has invested significantly in its capabilities since 2020. It has developed world class biology facilities in oncology and immunology, ensuring unmatched insights into fast-growing specialty therapeutic areas and driving innovation.
Its team of around 300 accomplished scientists and over 100 PhDs operate from state-of-the-art laboratory facilities, strategically located in major science hubs across the UK, in Dundee, Edinburgh, Bradford, and Sandwich in Kent as well as High Peak.
Newly-appointed CEO Dr Ben Cliff will head the senior leadership team. He has been part of the Concept Life Sciences senior team for five years and brings a wealth of leadership experience in the CRO industry from Intertek Pharmaceutical Services supporting the pharmaceutical, biotech, medical device and specialty chemical sectors. His experience covers all aspects of the business including operations, sales and marketing, quality, and strategic development.
Limerston Capital is a private equity firm targeting UK businesses with EBITDA of between £5 million and £15 million. It partners with management teams to help build them into industry leaders through buy-and-build and operational transformation.
Dr Cliff said: “Limerston Capital will be an excellent partner for our business, allowing us much greater commercial and technical focus so we can realise the company’s true potential and deliver the high value service our customers depend on to support their R&D activities.”
“As well as the benefit of providing additional investment, Limerston Capital’s fully-integrated and dedicated operational and investment team will be invaluable to support the carve-out and accelerate our growth.”
Jane Grewar, Senior Operating Partner of Limerston Capital, added: “We see enormous potential for the Concept Life Sciences business which is well positioned to benefit from high growth in the CRO market, with its strong pipeline of high-value, rapidly-growing services and a focus on highly invested therapeutic areas. The company’s excellent track record, highly-skilled team of scientists and industry-leading facilities, particularly in the high-growth areas of immunology, oncology and inflammation, make it a very attractive investment for Limerston Capital. We’re excited to be partnering with such a capable team.”
Mortgage advice company reports £40m surge in revenue
Pride Park-based Mortgage Advice Bureau has said it is ‘well-positioned’ after reporting a £40m surge in revenue to £230.8 million for the year to 31 December.
During the year, the firm increased its number of advisers by 20% to 2,254 – with the number of mortgage completions during the period also rising by 20% to £27.3 billion.
Chief Exec Peter Brodnicki said: “Despite a challenging year for mortgage intermediaries on numerous fronts, I am pleased with our 2022 performance and market share growth, with revenue up 22% and adjusted EBITDA up 15% on the prior year.
“Prior to the mini-budget in September, the group was on track for 2023 to be a record year of growth, despite an expected softening in housing transactions due to inflationary pressures.
“Although mortgage transaction levels have improved since the collapse post mini-budget, they remain circa 35% down year-to-date compared to the same period in 2022.
“MAB is performing considerably better than wider transaction numbers reflect and our market share is continuing to grow strongly. Current trading is in line with our expectations, and we expect a second-half weighted financial performance.”
During 2022, MAB also completed a key acquisition – buying 75% of Fluent Money Group.
“Following the acquisition of Fluent, MAB is well-positioned as a leader in the three largest sectors for mortgage lead generation, comprising estate agency, new build, and price comparison websites.
“The acquisition also extends the group’s customer reach into other specialisms, including secured loans, which alone offers significant mortgage re-financing opportunities.”
Mr Brodnicki added: “We continue to invest in our employees, with the significant capital investment in our Derby head office providing an excellent working environment to support the accelerated growth expected in the medium term.”
Virtual reality showroom becomes a reality for train-builder Alstom
Derby-based train-builder Alstom has created what’s believed to be the rail industry’s first virtual reality showroom.
The facility features an entirely virtualised city in which trains, metros, locomotives, trams, and monorails run in 3D watched by customers, partners and staff immersed in a virtual environment exploring the company’s products, including interactive simulations and whole fleet management systems.
Created in partnership with visual technology specialist SoWhen?, the universe spans almost four sq km of virtual space and offers 12 different types of virtual trains.
Alexis Bonnet-Salkind, digital design manager with Alstom’s advanced and creative design team at its Litchurch Lane site, said: “We want to transform the image of a railway company from something old-school and traditional to modern and high-tech, which is what we are, and an interactive digital platform is a perfect tool for demonstrating that.”
Alstom provided the first glimpses of this virtual reality universe at last year’s InnoTrans, which is the world’s largest rail industry trade fair. It brought Alstom’s rolling stock, signalling, components, and green solutions to life, allowing attendees to experience a wide range of the firm’s product offering.
The company said that the virtual showroom proved to be an “invaluable tool” to showcase the innovation and advanced technology behind Alstom’s products and “further solidify the image of a modern, high-tech railway company, breaking away from traditional perceptions”.
Alexis said: “This unique digital ecosystem can help do a number of things for our customers. We want to turn the invisible visible: some of our signalling technologies, for example, can be hard to wrap your brain around, especially if your background is not technical.
“This technology can also be a game-changer during design concept and mockup review.”
Alstom also believes its virtual universe will be a powerful tool for training and learning within the company as it allow employees to explore the universe at their own pace and learn more about the business.
Boots’ sales secure 16% growth over last quarter
Busy Christmas trading and a record-breaking performance for beauty delivered retail sales growth of 16% for Boots.
The business reported its eighth consecutive quarter of market share growth with gains across all categories, led by beauty – the stand-out performer of the quarter. Footfall, basket size and the number of Advantage Card customers all increased, as more people chose to shop at Boots. The Christmas period was particularly strong with retail sales in the five weeks to 31 December up 17.4% and outperforming the market.
The beauty category delivered a record January, and premium beauty saw its biggest ever sales week in December. Skincare reported three consecutive weeks of record sales in December driven by the ‘expert skincare’ category in which brands including No7, La Roche-Posay, CeraVe and Eucerin proved popular. Boots beauty transformation strategy continued with 19 new beauty halls opened in Q2 and the 170th store to receive a beauty makeover opening at Westfield White City post-period end. Boots now stocks over 500 big name and cult beauty brands and exclusively sells the UK’s leading skincare brand, No7.
Saying that customers continue to return to stores – with footfall increasing 16% in the quarter, and they are also buying more – Sebastian James, MD of Boots UK & ROI, said: “More people are choosing to shop with Boots, largely thanks to our focus on value and our market leading beauty offer. This is reflected in our strong retail sales performance and our continuing market share growth, particularly in terms of Christmas trading. We also delivered an increase in pharmacy sales, despite the challenging sector backdrop.”
