Dan to lead BHP’s new commercial finance service
Independent accountancy firm BHP has appointed Dan Summerfield to head up its new Commercial Finance service.
With recent data highlighting that access to funding is becoming more challenging for SMEs, the firm’s new offering will help clients identify and secure the right finance product for their needs, while ensuring they have access to competitive terms.
Dan, a Yorkshire financier, joins BHP from Panacea Investment Group in Leeds and has held senior roles in the banking and finance sector over his 30-year career. Dan will oversee all aspects of commercial finance and the firm’s Professional Banking and Finance team, ensuring his wealth of experience can support clients across BHP’s five offices.
Hamish Morrison, Joint CEO at BHP, said: “As trusted advisors, we’re committed to not only delivering a high-quality service to our clients but also expanding our offer to meet the challenges our clients may be experiencing. This new service is evidence of that approach, and we believe it will ensure our clients and their businesses can thrive, despite potential headwinds.”
Dan added: “I’m pleased to be joining BHP as it continues to grow. Together with the other partners, I’m looking forward to expanding this service to ensure we can support our clients.
“The finance market has been a volatile space over the last few years, adding to the challenges many businesses have had to face. With the marketplace expected to continue to change as a result of economic uncertainty, it’s crucial that businesses have access to expert advice. Bringing together my experience with the other expertise within BHP, we can offer integrated advisory services that empower our clients.”
Dan is the latest hire for BHP, which has recently announced the appointment of Mark Stanton to Partner in its Digital Finance team, made several new promotions and created new heads of service positions.
BHP Joint CEO Lisa Leighton said: “The last year has been a transformational period for our business as we’ve continued to grow organically, by supporting our clients to do the same. Having been recognised repeatedly over the last 12 months by independent assessor Great Place to Work® UK in a number of categories, we’re pleased to not only be able to attract the best talent in the region, but also to find new talent through our graduate and non-graduate training schemes.
“As we continue to invest in our services and our people, we’re really looking forward to what’s to come for BHP and our clients.”
Northamptonshire logistics firm falls into administration
Northamptonshire-based Linkline, a provider of UK and international logistics, haulage, warehousing, and pallet network services to businesses, has fallen into administration.
The company, which employed 104 staff, operated out of its three hubs near Wellingborough.
Due to the economic challenges and competition within the logistics industry, the director of Linkline had recently launched an accelerated M&A process to find a buyer for the business and explore restructuring options. However, without any viable offers and unable to meet its financial obligations, Linkline couldn’t continue trading and administrators were ultimately appointed.
Rick Harrison and Chris Pole of Interpath Advisory were appointed as joint administrators to Linkline Transport Limited on Tuesday 18 June 2024.
100 staff were made redundant on appointment. The joint administrators have retained the remaining staff to support them in winding up the business’s operations and will market the business and assets for sale.
Rick Harrison, Managing Director at Interpath Advisory and joint administrator of Linkline Transport Limited, said: “The UK logistics sector has been reeling from multiple economic factors that have made trading conditions challenging for many operators. In addition, Linkline struggled in the face of intense market competition and without significant additional investment, it was unable to continue trading.
“Our team is on site to provide support for employees in making the appropriate claims with the Redundancy Payments Service and is also engaging with customers.”
Banner Jones advises on sale of Peak Sensors Holdings
Banner Jones, in collaboration with Mitchells Accountants, has advised Peak Sensors Holdings on its recent £2.4 million sale to SDI Group plc.
SDI Group plc, quoted on AIM, specialises in the design and manufacture of scientific and technology products for digital imaging and sensing and control applications. This acquisition expands its portfolio and capabilities.
Peak Sensors, a leading UK manufacturer based in Chesterfield, produces standard and bespoke temperature sensors, including thermocouples and resistance thermometers, servicing various industries such as glass, ceramics, incinerators (including energy from waste), cement and ovens.
With a 5,300 sq ft leasehold facility and 14 employees, Peak Sensors reported revenues of £2.1 million for the year ending March 31, 2023.
Further to the acquisition Roshan Aucklah, CEO of Peak Sensors since 2017, will continue to lead the business under SDI Group ownership. Peter Smith, one of the founders, will remain as a consultant. Peak Sensors will now be part of SDI Group’s Sensors and Controls division.
Andrew Fielder, Solicitor and Head of Business Legal Services at Banner Jones, said: “It was a real pleasure to support Peak Sensors in an acquisition deal that will enhance and drive the company’s success. We are also pleased to have worked again with Mitchells Accountants to support another local Chesterfield business.”
Ken Ford, Chairman of SDI, said: “The acquisition of Peak Sensors is a strategic step in our Group growth, demonstrating opportunities to acquire businesses with high-quality products and export growth potential. We expect the acquisition to be earnings-enhancing in the first full year of ownership. We are delighted to welcome Roshan Aucklah, Peter Smith, and their staff to the SDI Group.”
Warehouse investor sells Chesterfield site for £46m
Warehouse REIT, the multi-let warehouse investor, has completed on the sale of £57.5 million of single-let assets in three separate transactions.
This includes Barlborough Links in Chesterfield, sold for £46 million.
Warehouse REIT acquired the site with Amazon as its tenant in 2020 for £57.3m.
The deal is in line with Warehouse REIT’s strategic focus on the multi-let warehouse asset class.
The other properties sold comprise Parkway Industrial Estate in Plymouth, sold for £6.3 million, and Celtic Business Park in Newport, sold for £5.2 million.
Simon Hope, Warehouse REIT, said: “Rebuilding dividend coverage is our key priority, and by reducing our debt and our finance costs, the sale of these single-let assets is an important milestone in that respect.
“At the same time, we continue to reshape our portfolio to focus on the highly attractive multi-let subsector of UK real estate, which plays to our strengths and is where we can drive income and capital growth over the long term.”
Forum to help budding entrepreneurs succeed in business
Budding entrepreneurs can get free expert guidance from top local business professionals at a summer forum that is being staged in Erewash.
The event aims to encourage start-up ventures while also providing crucial mentoring to people who want to grow existing enterprises.
Experts on start-ups, IT, law and business finance will be on hand with friendly one-to-one advice.
The event on Wednesday 26 June has been organised by the Erewash Partnership, which is a local enterprise agency supported by the council.
It is being sponsored by Morley Hayes Hotel, which is hosting the session in its Granary Loft from 11am to 2pm. The Mayor of Erewash Cllr Kate Fennelly will be among attendees.
Entry is free for Partnership members, guests and those who may be interested in joining.
An invitation to entrepreneurs states: “Whatever your business and whatever market you are aiming for, this event could provide the springboard, inspiration and contacts that you are looking for.”
Places need to be booked in advance.
Frasers Group to enhance retail operations with multi-year partnership with THG
Shirebrook-based Frasers Group and THG have entered a multi-year partnership that they say will “mutually enhance retail operations at both groups.”
The partnership includes the integration of customer credit and loyalty proposition, Frasers Plus into THG’s Ingenuity platform, benefiting customers across THG retail sites. This marks the first Frasers Plus partnership with an external partner.
Frasers Group will also benefit from THG’s courier management services to drive the efficiency and performance of Frasers’ Australian fulfilment and logistics operations, supporting the Group’s international expansion.
Frasers Group will also be acquiring THG’s luxury brand portfolio including Coggles, strengthening its Premium and Luxury portfolio, alongside FLANNELS.
Michael Murray, CEO, Frasers Group, said: “Today we are pleased to announce a new strategic partnership with THG, which includes launching our consumer credit and loyalty proposition, Frasers Plus across the THG Ingenuity platform.
“This is an exciting step towards our Frasers Plus ambitions as we look to expand its offering across additional third-party platforms. We are looking forward to working with the THG team and unlocking further benefits for both businesses.”
Matthew Moulding, CEO of THG, said: “We are delighted to be partnering with Frasers Group across a broad range of initiatives, in particular bringing Frasers Plus to consumers shopping with Ingenuity clients, as well as to our own retail sites including Lookfantastic, Cult Beauty and Myprotein.
“Our luxury brand portfolio including Coggles has grown from a standing start eleven years ago, and we are eager to watch it develop further as an Ingenuity client. The success of Coggles has only been possible through the hard work and dedication of THG’s luxury team, to whom we all want to extend our thanks and gratitude.”
General Election candidates attend North Derbyshire hustings
East Midlands Chamber, in partnership with Destination Chesterfield, hosted a General Election hustings event in Chesterfield with candidates from all major parties invited to take part.
A number of business representatives attended the session on 20th June at East Midlands Chamber’s Chesterfield offices. In conventional hustings format each candidate was given a restricted and equal amount of time to respond to questions from the audience.
In alphabetical order the candidates that participated were:
David Kesteven – Green Party candidate for Bolsover
Helen Wetherall – True and Fair candidate for the Derbyshire Dales
Lee Rowley – Conservative candidate for North East Derbyshire
Toby Perkins – Labour candidate for Chesterfield
East Midlands Chamber Director of Policy and Insight Richard Blackmore, who presented the session, said: “With the clock ticking and now only a couple of weeks until people cast their ballot, the hustings was a fantastic opportunity for people to ask whatever burning questions they had directly to each of the candidates about what they would do for the region’s economy and growth should their party get elected.
“It was good to see such good turn out with plenty of questions for the candidates, at such a critical time as people decide who they believe might best represent their interests.”
East Midlands’ top 500 companies see turnover rise 18% to £97bn
Turnover of the top 500 companies in the East Midlands has risen by more than 18% year on year to £97bn, a new report reveals.
The annual East Midlands Top 500 Companies Index celebrates the contribution which the region’s biggest companies make to the economy – and this year marks a milestone as the EM Top 500 reaches its fifth anniversary.
The 2024 index was launched last night (June 20) at the East Midlands Chamber annual dinner by Professor David Rae, of De Montfort University Leicester (DMU), who leads the research team which meticulously compiles the index, in partnership with colleagues at University of Derby and Nottingham Trent University. It is supported by East Midlands Chamber and Cross Productions.
Top of the list for the fifth year running was Boots, the Nottingham-based health and beauty company, which recorded £7,467,000, although this was down from 2023’s £7,803,000.
Derbyshire car supermarket company Motorpoint entered the Top 10 for the first time after seeing turnover reach a record £1.3bn.
There were 84 new entrants on the list, compared to 97 who made the list for the first time in 2023. Top new entrants were employability firm Maximus UK, of Leicestershire, which entered at number 78, and Atten Group, an IT company based in Derby, which was placed at number 135.
Highest climber was housebuilder Stonewater Developments which rose 295 places from 411 in 2023 to 116 in 2024.
David Rae, Professor of Enterprise at DMU, said: “The East Midlands Chamber has been a supporter of the EM Top 500 since its inception, so we were delighted to be able to present the first findings of 2024 at its President’s Awards Dinner in front of leaders of major companies in the region.
“With five years of data capturing substantial shifts in the regional economy and an in-depth Sectoral Analysis, we are eager to utilize this information to guide the future growth of the East Midlands economy.
“The advent of the new East Midlands Mayor and Combined Authority, the East Midlands Freeport, the anticipated election of a new group of MPs representing the East Midlands, and other strategic initiatives signal a promising outlook for the region’s prosperity.”
The index is compiled using Companies House data filed for the period between 1 July 2021 and 30 June 2022, including turnover and employment. This includes part of the COVID and recovery period. The number of people employed at the top 500 companies fell 1.4% from 434,348 in 2023 to 440,230 in 2024. Among the top 10 companies, while revenue grew 12.7% on 2023, staffing levels were down 11%.
Richard Blackmore, the Chamber’s head of special projects, said it was reassuring to see East Midlands industry continuing to drive growth in the UK economy.
He said: “The region has been through a tough few years so it is good to see businesses on the list thriving. Their success creates employment and growth for the regional and national economy and continues to highlight the East Midlands as a place to do business.
“Many of the businesses on the list are Chamber members, playing their role in supporting and raising the profile of the region we work and live in. I would like to thank De Montfort University, the University of Derby and Nottingham Trent University for the huge amount of effort which goes into compiling this valuable resource.”
Keepmoat invests £102 million in flagship Nottingham land
Keepmoat, will invest more than £102 million into creating hundreds of new homes in Nottingham, with work having already commenced at a flagship parcel of land on the site of a former Boots factory.
Partners from Platform Housing Group and Boots joined Charlotte Goode, Paul Hulme and Philippa Stewart from Keepmoat, at the 286-acre site near Beeston yesterday (Thursday 20th June) to celebrate the start of work on site and to witness first-hand the progress that’s already been made.
When complete, the housebuilder will deliver 604 new, multi-tenure homes, regenerating the disused land and creating a thriving new community in Nottinghamshire. Of the new properties, Platform Housing Group will offer 319 affordable homes.
Charlotte Goode, Divisional Chair at Keepmoat, said: “Keepmoat is delighted to be regenerating this landmark development on a very special site that will bring much needed, high-quality new homes and significant investment to the city. For this historical site alone, we are investing £102 million into creating a fantastic community and we’re proud to stand alongside our partners at Platform Housing Group today to mark the beginning of a wonderful community. We’re committed to delivering new homes for the people of Nottingham and the surrounding areas to transform the area and provide quality new homes.”
Laura Osborne, Sales & Marketing Director at Platform Housing Group, added: “At Platform Housing Group, we’re thrilled to collaborate with our partner, Keepmoat, to build new homes in Beeston.
“This is a hugely important scheme for Platform, to be contributing to the growth of a thriving town and to provide much needed affordable housing in the area. Beeston is an up and coming area with fantastic potential to become one of the most sought-after commuter locations in the Midlands, so to be leading the way with such a large scale development is rewarding.”
Leicester College launches metal fabrication workshop
Leicester College has launched a cutting-edge metal fabrication workshop to train apprentices and students for careers in the advanced manufacturing engineering sector.
The new facility at the St Margaret’s Campus will directly benefit Level 3 Metal Fabricator Apprentices by providing them with access to the latest industry-standard equipment, hands-on experience, and expert guidance in precision welding and metal fabrication.
Within the East Midlands, demand for metal fabrication jobs is increasing, with a steady rise of 2.4% over the next 5 years; nearly 1,000 jobs.
Leicester College has invested in 22 new welding machines and 2 plasma cutters for the metal fabrication facility. The new equipment includes the Kronos 320T MIG/MAG, Kronos 400T Duo, and the Titanium 230 AC/DC TIG, all from GYS. This advanced technology will ensure apprentices receive the most up-to-date training, preparing them for successful careers in metal fabrication.
Derek King, Managing Director of Kings Welding Supplies, said: “The work that Leicester College does in promoting welding to the next generation is incredible. I attended this college myself back in the day and seeing the continued investment in welding equipment shows the dedication they have in training young people.”
“We are thrilled to have access to such advanced equipment from GYS,” said Nick Waldrum, Apprenticeship Commercial Manager at Leicester College. “This partnership with Kings Welding Supplies Ltd. and GYS will be instrumental in providing our apprentices with the skills and experience they need to excel in the industry.”
Debi Donnarumma, Vice Principal, Study Programmes and Apprenticeships at Leicester College, said: “Leicester College apprenticeship programmes are building solid foundations for the future, not just training welders and fabricators, but nurturing talent that will drive innovation and growth in the Leicester and Leicestershire region for years to come.
“That is why we have invested in industry standard equipment and technology to help local and regional business to future proof their workforce, increase productivity and remain competitive. We want to equip our students and apprentices with the skills and experience they need to succeed and help businesses to thrive.”
