Following a successful and record year in business, recruitment consultancy Prescient Group has announced its growth and expansion plans for the next three years.
As 2022 saw the business increase its turnover by 107% – with plans to grow this by another 96% this year – seasoned recruiters Joel Fletcher, Charlotte Churm and Ed Robinson have appointed Paul Jacobs as non-executive director to support the delivery of their strategic goals and fast growth plans.
Co-founder and director of Jump Advisory Group, Paul has more than 40 years’ experience working within the recruitment industry – successfully accelerating growth for multiple businesses – having held previous positions as Managing Director of Office Angels and LoveWorkLife Recruitment.
Within the last month the Prescient team has grown from eight recruitment professionals to 11 – with the additional of Paul and consultants Alex Payne and Craig Catley joining the Manchester office. The firm plans to expand by a further nine employees this year and is currently recruiting for three Nottingham roles – including a temps consultant, resource and delivery consultant and an internal digital marketing manager.
To accommodate the team growth, the Nottingham office has moved to a bigger space within Bridlesmith Walk – which is their third move since 2020 – and the Manchester office is also moving for a third time within Spinningfields.
Having built up a portfolio of 80 UK and international clients, Prescient Group grew its client base by 86% in 2022, in comparison to 2021. As part of its three-year plans, the company will look to expand its services across the software solutions, law, transport, financial, banking and accountancy, property, digital marketing services and energy sectors.
Director Joel Fletcher said: “Last year was a record year in business for us and as we reflect on our plans for 2023 and beyond, it’s amazing to see all that we have achieved in such a short time.
“To help us accelerate our strategy, business goals and ambitious growth plans we have appointed Paul, who has a successful track record in developing strategies to enable businesses to scale up at a fast pace.
“We set out to create and be known as a highly respected and ethical recruitment consultancy and myself, Charlotte and Ed are very proud of not only our success, but the brand and team we have built. We’re looking forward to seeing more of our vision and plans come to life this year.”
Mercia Asset Management – the capital providers to SMEs – invested over £120m in 159 companies during 2022, with 79% going to businesses outside London.
Mercia, which is based in Henley-in-Arden, invested £17.4m in 24 Midlands businesses during the year. They included Leicester-based HR tech StaffCircle, Loughborough-based rebate management platform e-bate and Marriott Drilling Group of Chesterfield.
Dr Mark Payton, CEO of Mercia, said: “Approximately 60% of the capital we manage is in venture focussed on young businesses with significant growth potential. Venture capital plays an important role in developing the industries of the future but with the majority of funding focused on London, the remaining regions of the UK continue to be underserved. Through our Venture funds and teams operating across the UK, we aim to address that gap.
“Despite the near term economic headwinds as a nation we face, we passionately believe in continuing to support new businesses and our existing portfolio. While many other funders have become more risk averse, Mercia will continue to invest throughout 2023 and we look forward to supporting many more businesses, through our national network of offices across the UK, in the year ahead.”
In 2022 Mercia also successfully exited some of its earlier investments including Sheffield-based Faradion, a world leader in sodium-ion battery technology, which was acquired for £100m by Indian conglomerate Reliance Industries.
During the year Mercia acquired Birmingham-based SME lender Frontier Development Capital (FDC) in a deal that took its assets under management to circa £1.4bn. It also opened new offices in Bristol and Hull.
East Midlands Freeport (EMF), the UK’s only inland Freeport, has appointed Tom Newman-Taylor as CEO.
Tom is an experienced senior leader in Government having latterly held positions in the Department for Levelling Up, Communities and Housing (DLUHC) and Department for Transport. He has a strong track record in delivering major commercial and strategic projects across the transport, energy and housing sectors, within and outside Government.
As a Deputy Director in the Maritime Directorate he established and ran the cross-Government Critical Freight Taskforce, preventing a catastrophic failure of international and domestic freight networks during COVID-19. This included implementing a multi-million subsidy regime for the international freight sector.
He has developed strategies for Government across housing and transport, including a long-term environmental strategy for the maritime sector as part of the Government’s Maritime 2050 Strategy. Earlier in his career he also helped deliver billion-pound Government investments into train and railway improvements.
He spent a period in industry as Commercial Projects Lead with Associated British Ports where he was responsible for establishing ABP’s port master planning programme, delivering long-term commercial and geospatial plans for ports across the country.
In announcing the appointment, EMF Chair, Nora Senior CBE, said: “We are delighted to have attracted an individual of the calibre and with the experience that Tom brings. His knowledge of Government departments and policies will be a significant advantage in allowing the Freeport to access and build on trade and innovation opportunities to the benefit of prospective occupiers on the site.”
Tom Newman-Taylor added: “I am hugely excited by the potential which EMF offers to bring growth to a strategically significant part of the UK. A successful Freeport will bring lasting benefits to the East Midlands by attracting significant new investment and creating high quality jobs for the communities who live around our sites. I cannot wait to help realise this ambition and help bring together local public and private sector partners on behalf of the East Midlands and the UK.”
Tom starts his position with EMF in March.
SPLtrack, a Leicestershire-based environmental consultancy, has been acquired by Hydrock, a British-owned integrated engineering design, energy and sustainability consultancy.
Founded in 2013 and led by Chris Beale, SPLtrack delivers real-time noise, vibration, and air quality monitoring data, supporting industries such as motorsport, live music and construction achieve strict regulatory compliance.
Ric Hampton, regional director and director of acoustics and air quality at Hydrock, said: “This is a fantastic addition to the acoustics and air quality division. We’re over the moon to have the opportunity to add such specialist expertise to our already high-performing team.
“With clients such as Silverstone and MSV circuits, we’re able to accelerate our capabilities in real-time environmental monitoring and play an important role in addressing the public health crisis and meeting new WHO guidance.”
Chris Beale, director of SPLtrack, said: “SPLtrack has taken the leap from a small but successful independent company to join the wealth of skill and experience that is Hydrock.
“The SPLtrack team are excited to work with new colleagues to unlock the strength of our technologies, the ADAhub platform, and to bring new opportunities to the group. Personally, I am delighted to be working alongside engineers that I have known for many years within a company I greatly respect.”
Car retailer Pendragon has hailed a positive fourth quarter as financial performance was slightly ahead of expectations.
In a new trading update for the year ended 31 December 2022, the Nottingham-headquartered company said a strong Q4 underlying trading performance more than offset higher operating and interest cost pressures.
The firm added that trading during the quarter was underpinned by strong volume growth in new cars, with the group delivering like-for-like volume growth of 4.6%, and outperforming the retail new car market growth of 1%. Used car volumes also grew by 5.2% on a like-for-like basis in Q4, a notable improvement on the declines seen in the third quarter.
As a result of this performance, group underlying profit before tax for the year is expected to be approximately £57m, down from £83m in 2021, but slightly ahead of market expectations.
Bill Berman, Chief Executive of Pendragon, said: “We closed out the year with a positive performance in the final quarter, which saw volume growth in both new and used vehicle sales.
“Despite the numerous challenges we have faced across our markets and in the economy at large, we performed strongly in 2022 and this shows the benefits of the improvements made across the business in recent years.
“Whilst market challenges will persist in 2023, we enter this new year with confidence and good momentum, and we look forward to making further progress against our strategic objectives.”
Last month Hedin Group abandoned its £400m takeover bid for Pendragon, due to challenging market conditions and an uncertain economic outlook.
Melton Mowbray-based sustainability specialist, Clean Air Power, is part of a consortium that has successfully secured £250,000 to deliver a major clean maritime project.
Clean Air Power is working alongside global engineering consultancy MAHLE Powertrain and the University of Nottingham, to help develop potential green propulsion systems for marine users such as the Royal National Lifeboat Institution (RNLI). The project, named HyJet, is now under way.
The funding has been secured via Innovate UK, a non-departmental public body which provides money and support to organisations to make new products and services.
The consortium will explore the use of sustainable fuels, such as green hydrogen, methanol or ammonia, that would produce zero or near zero pollutants in smaller marine engines. The RNLI has an overall fleet of 400 vessels including all-weather lifeboats and inshore rescue vessels.
Clean Air Power are specialists in decarbonised fuelling and will develop and supply the engine’s fuel injection systems, through its DigiJet range of valves and injectors.
Dan Skelton, Managing Director of Clean Air Power, said: “We are thrilled to be a partner in this successful bid, and are looking forward to working with the RNLI and the other partners to investigate potential sustainable solutions for the future. We have two decades of experience working on innovative injection and fluid control projects and are pleased to see this expertise recognised, both by our sustainability partners and the UK authorities, as we move to net zero with the marine sector.”
Innovate UK offered funding via the Clean Maritime Demonstration Competition. HyJet was one of 22 projects to win funding out of a total 45 applicants.
The HyJet project is part of the Clean Maritime Demonstration Competition Round 2 (CMDC2) which was launched in May 2022, funded by the Department for Transport and delivered in partnership with Innovate UK. As part of the CMDC2, the Department allocated over £14m to 31 projects supported by 121 organisations from across the UK to deliver feasibility studies and collaborative R&D projects in clean maritime solutions.
The CMDC2 is part of the UK Shipping Office for Reducing Emissions (UK SHORE) flagship multi-year CMDC programme. In March 2022, the Department announced the biggest government investment ever in our UK commercial maritime sector, allocating £206m to UK SHORE, a new division within the Department for Transport focused on decarbonising the maritime sector. UK SHORE is delivering a suite of interventions throughout 2022-2025 aimed at accelerating the design, manufacture and operation of UK-made clean maritime technologies and unlocking an industry-led transition to Net Zero.
Property developer, Graftongate and global investment manager, BlackRock have completed a deal for the final available unit at Leicester Distribution Park (LEDP).
The joint venture partners have completed the letting of a 150,000 sq ft distribution and logistics unit on a 10-year lease to a global transportation services provider.
Built to BREEAM ‘excellent’ standard, Unit 2 was developed as part of the final phase of the 44-acre scheme, off the A47 near Leicester city centre.
Graftongate and BlackRock carried out three phases of development at LEDP during a six-year period, creating eight Grade A logistics units totalling 715,000 sq ft.
The first phase was pre-let, with the remaining seven units speculatively built and all let within six to nine months of completion.
Established occupiers include Blanson, CCL Components, Piping Rock, Samworth Brothers, Power Towers, Company Shop Group and Leicester Tissue Company.
Colin Beasley, director at Graftongate, said: “This is an excellent letting and completes a very strong occupier line up at LEDP. We are extremely proud to have worked in partnership with BlackRock to build one of the highest quality distribution and logistics locations in the East Midlands.
“Demand at LEDP has been consistently high, even before its practical completion, which is testament to the strength of the regional market and the scheme’s superb connectivity at the heart of the UK’s distribution network.”
The letting team of M1, CBRE and Innes England acted for Graftongate and BlackRock throughout the project.
FHP has let Unit 2, Albert Martin Business Park, Kirkby Road, Sutton in Ashfield to Crytec Limited.
The unit comprises 13,702ft² of warehousing/manufacturing space close to Junction 28 of the M1.
Anthony Barrowcliffe of FHP said: “I am really pleased with this letting. Crytec Limited are a great addition to this estate with ample room to aid their rapid expansion.
“We have lots of exciting opportunities still on the Albert Martin Business Park and I welcome any conversations with any live requirements within the East Midlands market.”
Matt Cryans of Crytec Limited said: “We needed additional warehousing at short notice and Anthony was extremely quick in getting us the right space.”
PwC has appointed Alex Hudson as the new market senior partner for East Midlands.
A tax partner, Alex has been with the firm since 2002 and worked in the East Midlands office for the duration of her career. Alex will oversee the strategy and direction for PwC in the East Midlands and the wider region. The role includes connecting with local businesses and communities to support talent, growth ambitions and place and purpose within the city.
Speaking about her new role, Alex said: “I’ve spent my whole PwC career in the East Midlands and recognise the value of the talent and opportunities here that benefit the firm nationally. The office in Donnington Court has achieved fantastic growth already, and the team works on some of our biggest national clients and has been involved in some landmark wins for the firm globally.
“I’m committed to maintaining and enhancing our fantastic office culture to create the best experience in which our people can develop, flourish and have fun.”
Matthew Hammond, PwC UK Midlands regional market leader, said: “It’s fantastic to have Alex on board as our new senior partner for East Midlands. She will play a pivotal role in achieving our goals across the region. This includes our growth ambitions, as well as focussing on culture, talent and how we can support the local communities in which we operate.”
Peak NDT Ltd has been honoured with two prestigious Queen’s Awards for Enterprise. The 2022 Awards were officially presented by Mrs Elizabeth Fothergill, CBE, HM Lord-Lieutenant of Derbyshire, during a celebration event which was held at The River Mill in Darley Abbey on Friday 20 January 2023. Mrs. Fothergill was accompanied by Mr. Peter Ellse, DL.
The event was attended by around 40 guests made up of Peak NDT employees, alongside a number of the firm’s suppliers and clients including Derbyshire’s own Rolls Royce and Transform NDT. Also in attendance was the Mayor of Derby, Councillor Robin Wood and Councillor David Wilson, chairman of Derbyshire County Council.
Peak NDT was chosen to receive a Queen’s Award in both the Innovation and International Trade categories and the company, which is based in Jubilee Business Park, is one of only seven firms throughout the whole of the UK to achieve double award status.
Established in 1995, the company is a designer and manufacturer of high-performance multi-channel conventional and phased-array ultrasonic instrumentation used for non-destructive testing (NDT) in a wide range of advanced engineering sectors including Nuclear Power Generation, Aerospace, Oil & Gas and Renewables.
For many years, Peak NDT’s MicroPulse technology has been at the forefront of ultrasonic NDT technique development and used by leading research organisations. The company was recognised in the Innovation category for the development of a flexible, compact, lightweight and enclosed version of their premium instrument system range which incorporates novel solutions to achieve high performance and low power operation.
The company was recognised in the International Trade category for outstanding short term growth in overseas sales over the last three years. Its main markets are the US, Canada, China, Germany, Hong Kong and Switzerland and annual overseas sales have doubled over the past three years, growing from 58% to 71% of total turnover. New customers have been established in most regions of the world, with recent sales channels being developed in India, Japan and Singapore, and new developments mean sales are set to increase significantly per annum, mostly overseas.
Peak NDT’s Managing Director, Simon Parke, said: “We are delighted to have been selected for these awards for Innovation and International Trade. They recognise a long history of innovation and export sales at the company and are a fantastic endorsement of the achievements that the whole team has delivered over many years.
“This acknowledgement will help us to continue to develop our technology and export sales for our customers around the world and I would like to personally thank everyone who has worked hard to help Peak NDT reach this outstanding achievement.”
Now in its 56th year, the Queen’s Awards for Enterprise are the most prestigious business awards in the country, with winning businesses able to use the esteemed Queen’s Awards Emblem for the next five years.
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