- What small businesses need to know about saving on energy costs
- Effective recruitment, onboarding, and engagement of employees
- Navigating debt and maintaining financial resilience
- Leadership in challenging times
- An anonymised Q&A session offering free practical advice to your questions.
Free places for 200 SMEs at Growth Hub ‘cost-of-business’ expo
Businesses have been invited to a free business expo to learn more about reducing costs, saving on energy use, and recruiting more effectively.
Delegates will be able to build networks and gain business support advice at the event being staged by the Business Gateway Growth Hub next month.
Its purpose is to signpost business owners to available support, whilst also providing practical tools and tips to help manage the current cost of doing business crisis.
Businesses can register now to attend the one-day conference, which will take place in Leicester in April.
The expo is aimed at small and medium-sized businesses in Leicester and Leicestershire which are looking for tools, tips, and information as they head into the new financial year.
Glynis Wright MBE and Sonia Baigent, both Members of the Leicester and Leicestershire Enterprise Partnership (LLEP) Board, will host the event.
Subjects to be covered are set to include:
Government “coming after” developers failing to sign Gove’s building safety contract
Michael Gove has secured the signatures of the country’s biggest housebuilders on the developer remediation contract, a major step toward ending the building safety scandal.
Thirty-nine developers – including the top ten biggest housebuilders in the UK – all put pen to paper on the legally binding document before this week’s deadline and irreversibly committed themselves to fix unsafe buildings they developed or refurbished.
Signatories represent a substantial proportion of the housing market, and the signed agreements will raise at least £2 billion for remediation costs.
Developers will be legally bound to pay to fix their unsafe buildings and eligible developers who fail to sign will not be able to operate freely in the housing market. Developers who have yet to sign the contract include: Abbey Developments, Avant, Ballymore, Dandara, Emerson Group (Jones Homes), Galliard Homes, Inland Homes, Lendlease, London Square, Rydon Homes, Telford Homes.
Following the contract deadline passing, Secretary of State for Levelling Up, Housing and Communities, Michael Gove, said: “I have been clear all along – those that are responsible for this crisis must pay. So, I am grateful to those developers who have done the right thing today by signing this legally binding contract.
“We will be monitoring their progress on remediation very closely, to ensure this work is completed urgently and safely. For those developers that have taken responsibility, today offers the chance for a reset, so we can get on and build more of the safe, decent and affordable homes we so desperately need.
“To those developers that have failed to sign the contract without good reason, let me be very clear – we are coming after you. If you do not sign, you will not be able to operate freely in the housing market. Your investors will see that your business model is broken – only responsible developers are welcome here.
“But today should not be about developers, or about government. Today is about innocent leaseholders. I want to put on record my apology to all leaseholders for the years of misery and hardship you have endured. You should never have been ignored, asked to pay and let down.
“Today marks a turning point – and an important step towards resolving this crisis. There is so much more to do, but I will always act to protect leaseholders and end this injustice.”
Signatories are required to fix all life-critical fire-safety defects in all English buildings over 11 metres they had a role in developing or refurbishing. It also requires them to reimburse the taxpayer where government funds have already paid for remediation, with that money being used to make other buildings safe faster.
For developers who have signed, their obligations start immediately. Leaseholders will benefit from a common framework of rights and responsibilities that will get their buildings fixed without them having to pay, and developers will be required to inform residents in affected buildings how they will be meeting these commitments.
The Government will publish further information next week on how developers will be prohibited from carrying out major development or from receiving building control approval unless they sign and adhere to the contract, using Building Safety Act 2022 powers.
Regulations will establish the Responsible Actors Scheme and set out the criteria for eligibility and the conditions of membership. Eligible developers who do not sign the contract will not be able to join the Scheme and will be subject to the prohibitions.
CAPITAL Seating secures succession plan through Santander UK-backed management buyout
Swann Systems, the holding company for CAPITAL Seating, has undergone a management buyout in a deal supported by FRP Corporate Finance and Santander UK.
Based in Leicester, CAPITAL Seating was established in 1968, and specialises in the supply of suspension seats and accessories to improve driver safety and comfort for all types of vehicle, as well as vehicle trimming services under the AUTO-TRIM Systems brand.
The company is an official distributor for major seat brands including Grammar, KAB and Recaro, and supplies a wide range of sectors, catering to trade and retail customers across the UK and Europe.
The sale to a new holding company will see the existing, long-serving management team led by Joe Beales, Darren Tuckley and Melinda Tyack assume control of the business, as part of the next stage in the company’s long-term succession planning. The buyout funded by Santander will also provide finance for further growth of the successful company into the future.
The deal sees an exit for the Swann family, who have been involved in owning and managing the business since its inception, with current Managing Director, Stephen Swann, transitioning into a consultancy role to provide on-going non-executive support for the management team.
FRP Corporate Finance was appointed to assist CAPITAL in raising new debt facilities to support the management buyout. Led by corporate finance partner Harry Walker and senior manager Fahim Kassam, the team sourced a number of competitive offers from several traditional and alternative debt funders and worked closely with the team at CAPITAL to identify Santander as the funding provider that would best suit the business’s ambitions.
Commenting on the deal, Harry Walker, director at FRP Corporate Finance, said: “For any business owner, formulating a viable succession plan is a key step in ensuring that the vision they have worked so hard to deliver is continued into the future.
“With this in mind, we’re glad to have been able to support CAPITAL with its management buyout and financing in anticipation of future growth. We’re excited to see where they go next and wish the Swann family, the management team and everyone at the company the very best.”
Stephen Swann, Managing Director at CAPITAL Seating, said: “Since the business’s founding more than 50 years ago by my father, we’ve prided ourselves on being a local employer that strives to deliver the best client service in our industry.
“I am proud to be handing on the business to a management team that have worked alongside me and led the business for a number of years now. The company is in a great place for further growth and development in the future and this deal will provide a fantastic platform for the team to take it forwards.
“Fahim and Harry at FRP Corporate Finance exceeded our expectations in securing a range of attractive funding options for the buyout, whilst ensuring the deal was transacted smoothly for the benefit of all parties. We’re very thankful for their support and really appreciate the value that their involvement in the deal added.”
Simon Clewlow, director, Growth Capital, at Santander UK said: “We are delighted to provide this exciting business with funding to support its management buy-out and look forward to working with it as it grows over the years to come.”
FRP Corporate Finance provided fund-raising, project management and deal structuring advice, with tax advisory support from Rowley’s Chartered Accountants.
A team from BHW Solicitors led by Steve McElhone provided legal advice to the vendors, with a team from Howes Percival led by Jahid Ali, Oliver Brookshaw and Haydon Simmonds supporting the MBO team and company.
A team from Browne Jacobson led by Emma Hinton and Chereta Edmeade provided advice to the Santander UK team, led by Simon Clewlow and Paul Elliott. Pippa Miller-Hawkes and Phil Todd from BSN Associates provided financial due diligence to Santander UK.
Business insolvencies hit four-year high
The number of insolvent businesses in England and Wales has hit a four-year high, with company directors choosing increasingly to shut down their companies voluntarily.
This is according to the Midlands branch of insolvency and restructuring body R3 and follows statistics published [14/3/23] by the Insolvency Service which show that corporate insolvencies rose by 6% in February to 1,783 compared to January’s total of 1,682, and by 17.5% in comparison with February 2022’s figure of 1,518.
The government statistics also show that corporate insolvencies in England and Wales increased by 160.3% against February 2021’s total of 685, and by 32.6% compared to 1,345 in February 2020.
R3 Midlands committee member Stephen Rome, a director of Thursfields Solicitors in the region, said: “Corporate insolvency numbers are at their highest level in four years due a rise in Creditors’ Voluntary Liquidations. Numbers for this process exceed those for 2022, 2021, 2020 and 2019 as more and more directors are deciding to close their businesses.
“After nearly three years of lockdowns, supply chain issues, rising costs and falling revenues, many business owners have simply had enough, and are shutting up shop before they are forced to.
“Trading conditions remain tough in the region – and it seems like the traditional Christmas and New Year trading period didn’t give them the boost they needed to survive.
“People are still very worried about money and the economy and are reluctant to spend on anything other than the basics. At the same time, the costs of energy, fuel and wages continue to be a major concern for businesses.
“Now is the time for directors to be aware of the signs their company is struggling and to seek appropriate professional advice. Cashflow issues, payment delays and rising stock are all indicators of a business in distress. The earlier directors seek help, the more options are available to address the challenges they face.”
Fundraising target quadrupled as MHR employee shaves head in support of mental health charity Mind
20-year-old Nottingham local, Martin Bassey, has ‘braved-the-shave’ this week and raised over £1,200 for mental health charity Mind – more than four times his fundraising target of £300.
Martin works in the marketing department at Ruddington-based HR, payroll, and finance specialists MHR. Contributions have come from friends, family, colleagues and a £500 donation from MHR itself.
Martin’s mobile barber arrived at MHR’s office on Monday morning where the transformation to his new, sleek look was filmed live for his JustGiving page.
At any given time, one in six working-age adults have symptoms related to mental ill health, yet mental health services are often lacking funding. Mind states that care services are largely under-resourced, understaffed and overstretched, and that is despite significant awareness being raised around mental health during the COVID-19 pandemic.
Martin recently understood what it is like to be negatively impacted by poor mental health and realises the importance of a strong support network of friends and colleagues. He is an advocate for those without this structure and for the lifesaving support charities like Mind offer the vulnerable, particularly young men with the male suicide rate standing at 15.8 per 100,000 – almost three times higher than for women (ONS).
Mind is a mental health charity that focuses on tackling the stigmas of mental health in all areas from healthcare, work life, and law. The charity offers informative and supportive services that in the last year were accessed 21.4 million times. Mind also lobbies government and local authorities on behalf of people suffering from poor mental health.
Jessica Mills, chairman of MHR, said: “Martin’s openness about his recent mental health struggles and his efforts raising money for Mind have been an inspiration for the team at MHR. His charitable nature has really shone through in the last few weeks and Monday was an exciting culmination for his fundraising campaign.
“As an employer we believe in raising awareness about mental health issues and ensuring people get the right support, so we’re delighted to back this initiative and know that the funds will go to Mind, towards helping those in need.”
Martin Bassey, business development representative at MHR, said: “I might be sporting an ‘interesting’ new look, but I know this has all been for a very worthy cause. Mental health services have suffered from lack of funding in recent years, but charities like Mind play a critical role helping to support those in need. If shaving my head helps just one individual in difficulty, then that can only be a positive thing.”
You can donate to Martin’s fundraising efforts here: https://www.justgiving.com/page/martin-bassey-1676990126679
Macildowie invests in new hires to strengthen executive search business
Nottingham-headquartered recruitment and retention consultancy, Macildowie, has welcomed the return of former employees Joanna Riley and Jo Garside, bolstering the company’s dedicated executive search team.Jo Riley re-joins the consultancy as business director of Macildowie’s CFO and Finance Director Practice, specialising in headhunting Executive Board Level Finance Leaders across the Midlands.Having previously worked for Macildowie for nearly ten years, between 2003 and 2012, Jo has since headed up executive search teams at various East Midlands agencies.
Jo Garside returns to the consultancy after 14 years, having previously worked for Macildowie between 1997 and 2009. Also joining the Executive Search team, Jo has taken up the role of Executive Search Associate.With a focus on the Midlands, Macildowie’s Executive Search team has helped businesses to hire into crucial leadership positions for almost 30 years.Speaking about the two new appointments, James Taylor, CEO of Macildowie, said: “At Macildowie one of our greatest strengths is our culture – recognised by achieving the highly coveted three-star ‘world-class’, employer status by the ‘Best Companies To Work For’ for the seventh time.
“We understand that maintaining a fantastic culture for our own employees drives them to produce amazing results for our clients. It speaks for itself that Macildowie has been awarded the much coveted ‘World Class’ status every time we’ve entered the Best Companies accreditations.“The two Jos, Riley and Garside, have both seen how Macildowie has evolved and continued to grow whilst enhancing our strong and dynamic culture, a key aspect of what drew them back to us. It’s rare for any business to have employees return, so it’s a great privilege to welcome Jo and Jo back, helping us to develop the next stage of growth for our Executive Search business. We are excited to see what they can achieve and wish them both the very best for the next chapter of their Macildowie careers.”Managing Director of Executive Search, Richard Haaker added: “It can’t be overstated how important it is to find and retain strong, effective leadership. We know that businesses rely heavily on individual leaders who can devise, develop and deliver a vision – and we know the importance of getting it right the first time.“We are extremely proud of the Executive Search team we’ve built, bringing together the best recruitment experts who are passionate about helping our customers to find the perfect executive candidate, in doing so also helping them to achieve their strategic goals. What we do is crucial and often helps to elevate our client’s Leadership Team to the next level.
“With this in mind, we’re thrilled to welcome back Jo Riley and Jo Gardside to the business, bringing a combined 25 year’s worth of knowledge and experience to the team. It’s fantastic to see Executive Search growing and we’ve got an exciting year ahead with some great projects in the pipeline.”
New UK ‘Space City’ cluster launched in Leicester
A new ‘Space City Leicester’ cluster has been launched in Leicester that will create one of the largest and most connected Enterprise Zones for space-related activities in the UK.
Space City Leicester represents up to £233 million of investment in new and planned facilities on the former Pioneer Park development to the north of Leicester city centre. This includes the University of Leicester’s science and innovation hub Space Park Leicester, the award-winning National Space Centre visitor attraction and the flexible working space and high-tech business incubator facilities at Dock and Dock 2.
Workspace will be expanded in the near future to include Dock 3 innovation workspace, and newer industrial and business incubator facilities at Abbey Court.
Space City Leicester is dedicated to space research, production, manufacture and development, and will make Leicester a key part of the UK’s Space Spine. The cluster will also be home to non-space related knowledge economy businesses, those working towards decarbonisation, innovative start-ups and established businesses looking for grow on space.
The Space City Leicester partnership includes DOCK, Leicester City Council, Leicester and Leicestershire Enterprise Partnership (LLEP), National Space Centre, Space Park Leicester and the University of Leicester. Space City is part of the Loughborough and Leicester Science and Innovation Enterprise Zone.
Research scientists at the University of Leicester have a long and distinguished record of discovery in space science with around 300 academics and researchers working on space and Earth observation, one of the largest groups in the UK. Every single year since 1967 has seen a Leicester-built instrument operating in space and their work today includes x-ray and observational astronomy, radio and space plasma physics (including space weather) and planetary science and instrumentation development.
Building upon the heritage and space-science excellence of the University of Leicester, Space Park Leicester is a world-leading space and Earth observation cluster that has built a collaborative community of industry, academics and students working together to drive growth in the space sector. Space Park Leicester is forecast to contribute £750 million per year to the UK space sector over the next decade and is expected to support more than 2,500 direct and indirect jobs in the East Midlands. The launch of Space City comes as Space Park Leicester, the city’s hub for space research and innovation, marks the first anniversary of its opening.
The new Space City Leicester cluster will be promoted to an international audience for the first time at the world’s leading real estate event, MIPIM in Cannes, France from 14-17 March 2023.
Leicester City Mayor Sir Peter Soulsby said: “Space City Leicester has put our city firmly on the map for research production and manufacture in the space industry, but the good news doesn’t end there as further expansion is planned to meet the demand from businesses keen to locate here from the UK and overseas.”
President and Vice-Chancellor of the University of Leicester Professor Nishan Canagarajah said: “This is the launchpad for an exciting new chapter in our city’s space history. From its beginnings 60 years ago at the University, we have grown space activity to unlock its huge potential to advance learning, to stimulate inward investment, innovation and growth and to address the challenging problems of our time. Space City Leicester is exciting, it is bold and it is built upon a heritage of success. I would like to thank all our supporters, industrial partners, LLEP and the Leicester City Council for their steadfast commitment to this ambitious endeavor.”
Andy Reed OBE, Co-Chair, Leicester and Leicestershire Enterprise Partnership (LLEP), said: “Space City Leicester combines world-leading expertise with major assets such as Space Park Leicester and the National Space Centre to boldly build on what we have here in Leicester and Leicestershire.
“It will create a world-leading cluster of research and development that will bring growth, investment, and many hundreds of jobs to our region.”
Henry Brothers appointed on Ministry of Justice Framework
Contractor Henry Brothers has been appointed on the Ministry of Justice Constructor Services Framework for the first time.
The company has been chosen on both national and regional frameworks in support of construction work across the entire justice sector, including courts, prisons, and the Home Office.
Managing Director of Henry Brothers Construction, Ian Taylor, said: “Being appointed to the Ministry of Justice Framework for the first time is excellent news for Henry Brothers. Henry Group has a long history of working in the justice sector, and more recently delivered a new £50m prison Block at HMP Maghaberry.
“We are excited to have been appointed on both the national and regional frameworks, which will give us an extensive pipeline of opportunities.
“Henry Brothers is on numerous frameworks, including the Crown Commercial Services Framework, so we are very familiar with working for Government organisations, such as the Defence Infrastructure Organisation (DIO). We look forward to partnering with the organisations under the MoJ Framework to support future construction projects in the justice sector.”
Henry Brothers has been appointed on two Lots in Framework B – construction projects valued at between £5m and £10m. These cover the North region and the Wales and Central England region.
In addition, Henry Brothers has been appointed as one of eight contractors on Framework C for national construction schemes valued at between £10m and £30m.
Both Frameworks run for five years and cover work for MoJ Corporate, HM Courts and Tribunals Service, HM Prison and Probation Service, Legal Aid Agency, Office of the Public Guardian, and the Home Office.
The anticipated value of Framework B is expected to be £0.75bn over four regions, while the anticipated value of Framework C is expected to be £0.625bn.
Howes Percival delivers £700m of corporate deals
Howes Percival’s corporate, commercial, and banking (CCB) team completed over 150 deals with a combined value of £700 million in 2022.
The growing team advises clients on significant and transformational acquisitions and disposals and the full range of contractual matters. It also provides a dedicated banking and finance service to banks, financial institutions, funds, and other lenders.
The number of completed transactions in 2022 was a further increase on the firm’s record deal volumes in 2021, with levels of M&A, financing and restructuring activity remaining high.
The growth was also driven by the ongoing investment in the Howes Percival CCB team, over the last three years. The team is now 60% larger than in 2019, as a result of a series of quality lateral hires including Chris White, Chloe Bristow and Deb Hay Davison (all formerly at Dentons), James Stephen (BDB Pitmans) Will Taylor (EMW) and Bradley Johnson (Machins) all joining in 2022. Tom Maksymiw also qualified into the team during the year.
Andy Harris, partner, and head of Howes Percival’s CCB team, said: “2022 was a record-breaking year again for Howes Percival’s CCB team and I’m incredibly proud of what we have delivered, both in terms of the volume of deals and the quality of the service the team has provided to clients. We hope we are increasingly seen as one of the go-to firms for corporate transactions in our key regions and we are getting more and more referrals across a wide range of sectors, as word spreads.
“We have seen a really good flow of instructions from some of our key sectors such as Automotive (particularly motor dealer M&A), Development, Food and Beverage, Healthcare, Leisure & Tourism and Technology & Innovation with significant transactions in each of these areas. We think these clients come to us not only because we are capable corporate, commercial and banking professionals, but also because of our relationship-driven approach, as well as our deep sector knowledge.
“In addition to the lateral hires we are proud to have attracted, we continue to place great emphasis on recognising and promoting home-grown talent within the team, and offering a complete career path, from developing great trainees through to creating new partners. We’ve also expanded the firm’s services to clients. Paula Dumbill, who joined us from Browne Jacobson, established and has grown our dedicated Commercial team, while we also now have a dedicated Company Secretarial and Governance team headed by Chloe Bristow.”
Andy Harris continued: “Of course, the ongoing situation in Ukraine, the cost-of-living crisis and the potential for recession in the UK are still major concerns this year, and we will all be keeping a close eye on things. As a general observation, transactions are taking longer to deliver, but the situation does vary by sector and we are still seeing plenty of activity and new opportunities.”
Significant milestone reached at new £9.2m East Leake School
A topping out ceremony has marked a major milestone at the new £9.2m school in East Leake which will create vital school places for the village.
Millside Spencer Academy is part of a £14m investment in education in East Leake by Nottinghamshire County Council.
The academy is being delivered by Morgan Sindall Construction, designed, cost-managed and project managed by Arc Partnership, a joint venture between SCAPE and the County Council, and run by Spencer Academies Trust.
The two-storey building includes 8 classrooms, a nursery, a library, a food-tech room, a hall and dance studio.
Once the keys to the school are handed over this summer, it will provide 350 primary and 26 nursery places in the heart of the new David Wilson Homes housing development, The Skylarks.
Councillor Tracey Taylor, the county council’s Cabinet Member for Children and Families, who recently had a progress tour at the site, said it was wonderful to see how the school was taking shape and to chat to staff and pupils about how much they’re looking forward to moving in for the new academic year.
Cllr Taylor said: “I am delighted to be working with our partners to deliver this fantastic project and Millside Spencer Academy will be a great addition to the county’s family of schools – as well as a huge benefit to a village where many new families have moved to.
“The County Council is committed to investing in our children’s futures by building new schools where needed across the county, and we’ve also set aside more than £9.5m over the next two years to refurbish schools in every borough and district of Nottinghamshire.
“The Council’s major investment in delivering the new Spencer Academies Trust-sponsored East Leake primary school reinforces our commitment to ensuring all Nottinghamshire children have access to the best education and have an opportunity to succeed.”
Located on former farmland on Rempstone Road, ground level works at the school is now complete and this will be followed by the installation of foundations and the erection of the steel frame. The first-floor planks, windows, doors and internal partitioning have also been fitted and the contractor is now turning its attention to the mechanical and electrical fixtures and external bricklaying and rendering.
Councillor Reg Adair, Deputy Cabinet Member for Economic Development, said: “This school will be a wonderful asset for the families of East Leake and the feedback from everyone involved points to an excellent advert for partnership working at its very best.
“Once the school is handed over, the Temporary Learning Village will be removed and used elsewhere to make way for the delivery of a new school field which will complement existing outdoor play areas.
“I’m also delighted that the 30% target for the contractor to use and spend with local subcontractors within 20 miles has been exceeded.”
This is the third successful project between the County Council, Arc Partnerships and Morgan Sindall following the successful joint delivery of Bingham Primary School in August 2022 and Rosecliffe Spencer Academy in May 2021.
Sara Williams, head of pre-construction at Arc Partnership, said: “We are proud to be working in collaboration with Nottinghamshire County Council and Morgan Sindall to design and manage the project delivery and bring much-needed school places to the local community.
“Supporting the council’s move towards low carbon solutions, the school has been designed to be Net Carbon Zero in operation. It will have high levels of building fabric insulation, and a range of sustainable features including an all-electric strategy, meaning no fossil fuel will be burnt on site and as the National Grid decarbonises, the carbon emissions associated with the building will reduce.”
Principal Sophia Thorne, at the Spencer Academies Trust, said: “The Millside Spencer community is amazed at the speed that our new school building is progressing. These facilities – alongside our existing on-site Forest School area, dedicated staff team, supportive parents and inspirational children – will continue to make Millside Spencer a happy school where everyone can shine.”
Richard Fielding, area director at Morgan Sindall, said: “We are thrilled to mark the progress at Millside Spencer Academy with a topping out ceremony which highlights another significant project through Arc Partnership. We are delivering a school which will not only create vital pupil places, but also inspiring and modern learning environments. We will continue to engage with the local community through our social value initiatives and work towards our net zero goals as we near completion this summer.”
