Seven figure funding deal for retail motoring business
A group of Motor Retail Companies operating across the East Midlands and North West areas of England has received a seven figure funding package from Barclays to support their expansion plans with the refinance of existing term and working capital facilities alongside funding to help finance the group’s growth strategy.
RJTK Investments, was established in 1998 as an independent, family run business with a single Vauxhall site and has since grown to employ over 330 people across the East Midlands and North West. The company now boasts 10 sites in locations including: Louth, Boston, Grantham, Scunthorpe, Grimsby, and Bolton, with another 2 locations due to go live between now and the end of 2023. The group currently represents a range of leading brands including Vauxhall, Kia, Suzuki and Maxus.
Tom Wilson, Commercial Director, RJTK Group, said: “Through our initial discussions with Joe and his team, it immediately became clear that Barclays would be the perfect partner for the group as they were aligned with and supportive of our future growth strategy. The motor industry has experienced rapid change over the last two years and our agile structure has meant we have been able to adapt quickly whilst growing the business with existing and new manufacturer partners. Our new relationship with Barclays will allow us to continue this growth and capitalise on opportunities that fit within our business model.”
Turnover for the business is expected to exceed £140million for the current year and further growth is expected in 2023.
Joe Reid, Barclays Business Development Director, and Jag Singh, Barclays Relationship Director put together funding for the deal and said: “RJTK is an excellent business, underpinned by an experienced, established management team that have grown the business to be one of the region’s top performers. We have been impressed with the market knowledge and ambition of the business since our first meeting and are delighted to have been able to support Tom and the Management Teams’ exciting growth plans. We look forward to a long and successful relationship supporting their continued success.”
Top international award for Derby entrepreneur
The entrepreneur behind Derby-headquartered global IT firm, Bam Boom Cloud, has scooped a prestigious international award.
At the recent Women in Cloud Awards, presented at the Ingram Micro Cloud Summit in Miami Beach, Florida, Vicky Critchley, chief executive of Ban Boom, won the MVP Woman of the Year Award.
The awards celebrate the achievements of individuals and businesses within Ingram Micro Cloud’s ecosystem on their efforts to support women in the community.
This year’s winners were all high-achieving individuals and partners who had displayed high levels of innovation, leadership, and advocacy for Women in Cloud in 2021.
The Woman of the Year Award category recognises one individual female seen as the most valuable player, providing inspiration to her team and organisation.
Vicky was recognised for helping Bam Boom Cloud develop a reputation not only for customer excellence, but also as an inclusive and progressive workplace.
Under her leadership, the percentage of women in Bam Boom’s global team has grown to 33%, with over half of senior management positions held by women.
She said: “I am honoured to be awarded the Women in Cloud MVP Woman of the Year 2022 award.
“Ingram has always been a fantastic supporter of women in the tech industry and this Women in Cloud category showcases some of the most brilliant and dynamic female leaders in the world, so to be recognised as one of these is incredible.
“I am so proud to be part of an amazing global crew of super women at Bam Boom Cloud who demonstrate that there is so much interest and passion from women to be a part of our industry.”
Andrea Mullens, vice-president of human resources at Ingram Micro Cloud, said: “We are proud to recognise the hard work of our partners as they continue to drive industry-leading initiatives in which a diverse workplace can thrive and succeed.
“This distinguished group of channel partners and individuals are paving the way in leadership, innovation, influence, and a commitment to continuously deliver an environment that promotes and celebrates the talents of women.”
Double hire at luxury car firm
Independent luxury and supercar dealer Baytree has strengthened its team with a brace of new appointments.
Due to growth achieved over the last three years, the firm has appointed Adam Le’Gallienne as sales executive alongside Steve Patterson who takes on the senior sales executive role.
Steve, who has spent almost 50 years working in the motor trade, said: “Having spent the last 15 years with BMW, I am really looking forward to working with the prestige and supercar brands within Baytree’s portfolio, and, of course, building client relationships.”
Adam, said: “The prospect of dealing with high-end performance cars and helping Baytree build on its successful track record really excites me.”
The appointments mark an exciting period for Baytree as it celebrates its 15th anniversary – and prepares to open new showroom facilities at its Chequers Lane site, following an investment of £250,000.
The works, which are expected to be completed in June, will allow Baytree to stock around 120 prestige and performance cars.
Derby law Firm advise on compliance firm sale to UK listed company
Derby law Firm Flint Bishop has advised on a major deal involving the sale of a compliance consultancy business to a UK listed company.
The law firm advised the shareholders of The Compliance Office on its sale to listed firm Marlowe plc, one of the UK’s leaders in business-critical services and software.
Founded by Andy Donovan in 2014, The Compliance Office has a dedicated team of specialist consultants supporting over 100 law firms.
The deal will see Compliance Office operating closely with compliance technology company VinciWorks, which was bought by Marlowe in 2021, to develop new creative and dynamic compliance offerings.
Martyn Brierley, head of corporate & finance at Flint Bishop, said: “It was a pleasure to support and advise the shareholders on this successful sale. “The technological knowledge of Marlowe and VinciWorks and the compliance expertise of Compliance Office will be a powerful combination and I wish them all the very best in their strategic partnership going forwards.”
Curve names seat in theatre to mark PPL Chief Executive Officer’s 10th year
A seat has been named in Leicester’s Curve theatre to mark Peter Leathem’s 10th year as Chief Executive Officer of music licensing company PPL.
PPL licenses recorded music in the UK when it is played in public (shops, bars, nightclubs, offices, etc.) or broadcast (BBC, commercial radio, commercial TV, etc.) and ensures this revenue flows back to its members. These include both independent and major record companies, together with performers ranging from emerging grassroots artists through to established session musicians and globally renowned artists.
The presentation took place in The Theatre auditorium, with Leathem meeting Curve’s Chief Executive Chris Stafford alongside Andrea Gray, Managing Director of PPL and PRS for Music’s Leicester-based public performance licensing joint venture, PPL PRS.
Leathem is a board member of PPL PRS and, as Chief Executive Officer of PPL, was instrumental in setting up the company and its launch in 2018. PPL PRS is the biggest public performance licensing venture of its kind in the world, turning over hundreds of millions of pounds.
Under Leathem’s leadership, PPL has regularly supported Curve’s work, including sponsoring the orchestras for recent acclaimed Made at Curve productions of A Chorus Line and Sunset Boulevard – at Home.
The seat is inscribed with the words ‘With thanks to Peter Leathem from Team Curve’ and is situated next to a seat gifted by Curve to Sir Ian McKellen to celebrate the legendary actor’s 80th birthday tour of theatres across the UK.
Peter Leathem, Chief Executive Officer at PPL, said: “It is an honour to be recognised by Curve for PPL’s support of its work and to be allocated a seat next to such a prestigious actor. PPL’s backing of Curve is a natural fit, as we represent more than 130,000 performers and rightsholders of recorded music, helping them get paid when their recordings are played in public. Many of our membership have successful careers thanks to cultural landmarks like Curve. They provide regular opportunities for musicians to perform and also act as incubators for emerging local talent to hone their craft, developing local creative hubs in the process. Our cultural landscape, and PPL’s membership, is enhanced by institutions like Curve, so it is right that we should support its contribution to the UK’s performing arts sector. Thank you Chris and the team at Curve for all that you do.”
Curve’s Chief Executive Chris Stafford and Artistic Director Nikolai Foster said: “We are incredibly proud of our partnership with PPL and we are indebted to Peter Leathem and his colleagues for their continued support of Curve over the last few years. Peter’s passion and commitment to Leicester is inspiring, and we are thrilled to name a seat in Peter’s name to mark his 10 years with PPL and his contribution to Curve. Many congratulations to Peter and here’s to the next 10 years!”
Land sold for new housing development in rural Leicestershire
Land in rural Leicestershire with planning permission for 17 new homes has been sold to a local housing developer.
Specialist land, development and property agency Newton LDP has completed the sale of land off Church Causeway on behalf of its client to Langton Homes.
The 1.81-hectare site, in the village of Church Langton, received outline planning permission for 17 homes in May 2019, with reserved matters approval granted two years later.
Richard Foxon, Managing Director of Newton LDP Ltd, said: “This is a site I know well and have been involved in for some time, initially advising the landowners when they entered into an option agreement with Langton Homes in 2018.
“We are pleased to have negotiated the sale of the land with planning permission for an attractive and sustainable development, which will provide much-needed new homes in this popular part of Leicestershire.”
Mark Coombs, representing the landowners, said: “We engaged with Richard from the outset as we were aware of his strong track record and professional reputation within the development land sector.
“It was thanks to his knowledge, experience and tactical negotiation that ensured we maximised our returns from this scheme.
“I would like to thank Richard and Newton LDP for their attention to detail and due diligence throughout this process, and look forward to seeing this high-quality development being developed out by Langton Homes.”
Ground work has already commenced with Langton Homes anticipating the scheme to be complete in summer 2023.
The site will be called Hanbury Gardens and will provide a range of three, four and five-bed homes, comprised of 11 private and six affordable dwellings.
The high-quality modern development features homes with a highly-insulated timber frame system, underfloor heating, electric vehicle charging points and bespoke designer kitchens.
The project will help to meet the demand for housing in the area, with East Langton and Church Langton expected to deliver 30 new homes by 2031 under Harborough District Council’s Local Plan.
Ben Cripps, Director of Langton Homes, based in Rutland, said: “We are thrilled to be acquiring this land, which will help to meet the council’s requirements for new housing in this area.
“Church Langton is one of the most sought-after villages in Leicestershire, with strong transport links to Market Harborough which is just a short drive away.”
Access Training achieves EPA Centre of Excellence status
High pass rates and a high number of distinctions are why Access Training (East Midlands) Ltd has been chosen as a Centre of Excellence for End-Point Assessment (EPA), according to City and Guilds.
The organisation, which has training centres in both Nottingham and Derby, joins only 100 of independent training providers/colleges and employer providers across England and Wales to be awarded this standard.
It has been delivering EPA through City and Guilds since the Apprenticeship Standards were first introduced in 2017, for apprenticeships ranging from Healthcare Support Worker Level 2 to Team Leader Supervisor Level 3, and Operations and Departmental Manager Level 5. This follows a number of qualifications delivered in partnership with City and Guilds for over three decades, including in the areas of Childcare, Health and Social Care, Customer Service, Teacher and Assessor Training and Construction.
Rebecca Hollamby, End Point Assessment Partnership Manager servicing City and Guilds, said, “City and Guilds has a 140-year history of working in education and with industry and partners, and is trusted universally as a leading end-point assessment (EPA) services organisation.
“Our ethos is helping learners and employers to identify and develop the skills they need to thrive. Access Training, through their high pass rate, number of distinctions and unfailing commitment to their learners, most certainly brings that ethos to life. They are very worthy recipients of the coveted status of EPA Centre of Excellence.”
Two examples of Access Training’s learners who are benefiting from City and Guilds accredited training are Tim Weymouth and Daisy Bennett from insurance brokers Aston Lark, in Derby. Their Level 3 Team Leader/ Supervisor apprenticeship has already offered a very tangible impact.
Tim comments, “it has given me the “science” behind some of the leadership traits I wish to have, as well as the framework to introduce change to a team.”
Daisy adds, “I know how to build a good team through the knowledge team dynamics, how to manage my time well and also help others in my team to do the same.”
Lorraine Nicholson, Operations Director at Access Training said, “Our relationship with City and Guilds is an important one since, for many sectors such as Construction and Management, the internationally recognised City and Guilds/ILM is the industry standard valued by learners and employers alike.
“Our trainer assessors are tireless in offering the pastoral care our learners need to achieve – whether that be supporting them with additional learning needs like dyslexia, housing issues, or simply lending an ear when things get too much. That – and the sheer will of our learners in working hard to improve their life chances – is what makes this recognition so well deserved.”
Junior lawyer scoops top award
Levelling up: organisations invited to apply for share of £5.5m to kickstart projects
North Lincolnshire organisations are being invited to apply for a share of Government cash to kickstart projects.
Last month the leader of North Lincolnshire Council welcomed the announcement of additional levelling up cash to enable even more people to complete high-quality skills training and access well-paid, sustainable jobs.
The cash is part of the Government’s £2.6bn UK Shared Prosperity Fund, designed to increase community pride by supporting businesses and helping people achieve better outcomes, access opportunities and lead better lives.
Now, local organisations are being invited to find out more about the fund by joining an online webinar taking place on Thursday 9 June 2022 between 9am and 10am.
Cllr Rob Waltham, leader, North Lincolnshire Council, said:
“This is further evidence of levelling up here in North Lincolnshire.
“Already, the Government has committed £30m of investment to transform Scunthorpe. A range of projects, including the construction of the enterprise and innovation hub and advanced manufacturing park, as well as the delivery of gigabit broadband and green energy schemes will help to stimulate growth, create jobs and build a different future for residents.
“This new cash injection will go even further and gives local organisations a fantastic opportunity to directly shape North Lincolnshire’s exciting future.”
Examples of projects eligible for funding include further enhancing:
- town centres and high streets
- arts, cultural, heritage and creative activities
- local sports facilities, leagues and tournaments
- community measures to reduce cost of living
£13.8m funding deal for Leicester luxury aparthotel
Aimrok Holdings, the owner of prominent hotel, The Gresham, which is located in one of Leicester’s most iconic landmark buildings, has received £13.8m of new funding from Cynergy Bank.
The Gresham Aparthotel provides luxury accommodation in the historic heart of Leicester. The hotel opened in November 2021 following a £17 million refurbishment. The 121-bed Aparthotel also includes a restaurant and bar, gym, as well as 12,000 sq.ft. of conference facilities and state-of-the-art co-working spaces and four commercial units.
The finance provided by Cynergy Bank enables Aimrok to refinance its existing facilities following the completed development of the Gresham Aparthotel. The group was provided with a Turnkey Funding Solution following the completion of the development.
Mark Copson, partner at Aimrok Holdings and co-owner of The Gresham said: “It was a pleasure to work with Cynergy Bank. The team applied innovative and strategic thinking to find the right solution to meet our requirements. We look forward to building on this relationship and working with the team in the future.
Sat Shingadia, Relationship Director, Cynergy Bank commented, “It has been a pleasure working with Aimrok holdings, to complete the bank’s first hotel turnkey commercial transaction. Aimrok Holdings is a prosperous business and is run by an impressive management team and will no doubt grow from strength to strength.
