East Midlands heat pump specialist boosts capacity seven-fold with six-figure investment
A Derbyshire business which distributes heating and cooling systems is expanding its capacity to meet growing demand after purchasing a new site in Swadlincote.
Logicool has acquired the new 16,000 sq ft property, which is more than three times the size of its existing premises. It will enable the firm to hold up to 900 pallets of components for heat pumps and air conditioning units, over seven times more than its previous site.
As well as more storage space, the property will include display rooms to showcase the products and expertise it can offer, in addition to more office space. It will also enable Logicool to transform its existing premises into a specialist training centre for staff and clients. Logicool will also be using these resources to test new design ideas for heating, cooling and ventilation solutions and hopes to find innovative new climate control systems.
Logicool works with its customers to design energy-efficient heating and cooling systems tailored to their buildings, utilising the most sustainable technologies such as heat pumps and ventilation systems. By using heat pumps, the firm is able to help businesses reduce their energy input by up to 75% while delivering the same level of heating output.
The business used a six-figure finance package from Lloyds Bank to purchase the new site in order to increase its capacity to hold more stock in an effort to mitigate ongoing supply chain issues.
It has recently recruited two new members of staff and now employs 18 people in the area, with plans to take on two further employees over the coming months.
Karl Richardson, Managing Director at Logicool, said: “We’ve enjoyed consistent growth for a number of years now and we recognised that we needed to increase our capacity to meet this demand. When the opportunity to purchase this site came up we knew it fitted the bill perfectly and the support we had from the Lloyds Bank team meant we were able to get the deal over the line quickly.
“We’re only expecting things to get busier now more people are returning to offices and uncertainty remains over supply, so making this investment now will make sure we’re in a good position over the months ahead and beyond.”
Mel Howard, relationship manager at Lloyds Bank, said: “Logicool has gone from strength to strength and it’s a fantastic example of a local business that is thriving at the moment. Their expertise is also helping businesses across the region to transfer to more sustainable heating and cooling systems and improve their own sustainable credentials.
“It’s fantastic to see them expanding with the purchase of the property and we will work with them as they move into the site and look to keep their growth going.”
Government must get serious about jobs, says East Midlands Chamber as region’s unemployment rate rises
The East Midlands’ unemployment rate has risen for the second month in a row – although it remains in historically low territory.
The 3.1% rate for the period between June and August 2022 – which is below the 3.5% UK national average – marked its highest figure in seven months, according to the latest regional labour market data from the Office for National Statistics.
Meanwhile, the region’s economic inactivity rate – which measures the number of working-age people who have dropped out of the labour market for reasons such as retirement, caring duties, long-term ill health or studying – increased from 21.9% to a record-high of 22.6%.
East Midlands Chamber Chief Executive Scott Knowles said: “Although the unemployment rate remains at historic low levels, the fact it is creeping up should be a cause for slight concern given the issues we’ve been highlighting regarding the UK facing the tightest labour market in years – as illustrated once again by a significant rise in the economic inactivity rate.
“Our research shows about four in 10 East Midlands firms have been at full operating capacity over the past half a year and while two-thirds have attempted to grow via recruitment, at least four in five of this cohort have struggled to fill roles.
“In our latest Quarterly Economic Survey, although the proportion of businesses that increased their workforce over the third quarter of the year rose by a net 4%, the future outlook is less optimistic with a 9% slide in the proportion of firms that expect to add to headcount before the end of the year.
“What this suggests is the stack of economic challenges facing businesses – driven by rising costs for energy, people, raw materials and fuel – is now denting confidence and holding back investment. Should this continue for much longer, we can expect to see more firms deciding to tighten their belts to get through difficult times, with a resulting negative impact on the job market.
“If Government is serious about growth, it needs to get serious about jobs. There are key reforms it should adopt to help ease tightness in the labour market.
“These include supporting greater business investment in workforce training, adopting flexible working practices, expanding the use of apprenticeships, and a comprehensive reform of the Shortage Occupation List to allow sectors facing urgent demand for skills to get what they need.”
PKF Smith Cooper expands its tax advisory division by enhancing Capital Allowances service line
Midlands-based accountancy and advisory firm PKF Smith Cooper is expanding its tax division with an enhanced Capital Allowances service, which will help local businesses and commercial property investors maximise tax relief on their capital expenditure costs. The company has recruited a new Capital Allowances Consultant, Thomas Webb, to offer additional expertise and support in this service line.
Thomas has over 10 years of local and international experience in providing capital allowances support to businesses and investors across a range of sectors including construction, agriculture, food processing, furnished holiday lets, manufacturing, engineering, retail and hospitality, student accommodation and commercial property investment.
In previous roles at KPMG and Grant Thornton, Thomas has worked with a number of high profile clients including supporting Pret A Manger with fixed asset additions on expenditure across the UK, USA and Hong Kong, as well as working with Lego on cost estimation and cost re-build for its head office in Denmark and flagship store in London. He has also developed extensive experience in servicing Midlands-based investors and businesses.
Thomas commented: “As a new and solely focussed Capital Allowances Consultant at PKF Smith Cooper, I’m looking forward to developing the service that the firm provides for the benefit of existing and future clients. This is a great opportunity to make a real impact while supporting local businesses and investors in claiming the tax relief they are entitled to. This is an area of tax that can have a real impact on managing the tax burden of clients through identifying and accessing allowances that are often overlooked and I expect this to be important over the next few years. Working alongside the rest of the tax team, my goal is to play a significant part in establishing PKF Smith Cooper as a leading provider of Capital Allowances consultancy services in the Midlands.”
From its key offices in Derby, Nottingham and Birmingham, PKF Smith Cooper provides a range of accountancy services. The company’s tax division delivers comprehensive support to clients of all sizes in personal tax, employment tax, VAT & indirect tax and private client tax. The expert tax team behind the services continues to grow, with the addition of twelve new recruits and two promotions in the past year.
Gary Devonshire, Tax Advisory Partner and head of innovation and property taxes at PKF Smith Cooper, said: “It’s an exciting time of growth and expansion at PKF Smith Cooper. Last year the firm joined PKF International and this year our Derby team moved into a modern office space to accommodate our growing team which serves our expanding and diverse client-base.”
“As part of our tax growth plan, we are now strengthening our tax services in key areas such as capital allowances that will attract new clients and allow us to offer an additional service to our existing clients. I am thrilled to have Thomas on board and look forward to seeing his expertise being delivered to clients and contacts as part of the continued expansion of our tax services at PKF Smith Cooper.”
Derbyshire-headquartered company crosses the finish line in 8,542-mile mental health charity challenge
Employees of a Derbyshire-headquartered firm have finally crossed the finish line in a truly Olympic-sized charity challenge that brought hundreds together to help people with their mental health.
Since 2021, nearly 70 staff at Lubrizol – which has a headquarters in Hazelwood in Derbyshire – have walked, run, cycled, rowed, swam, climbed and even played golf over a total distance of 8,542 miles, between a quarter and fifth of the circumference of the world!
Dubbed the ‘Lubrizol Olympics’, the company’s original aim was to reach a target of £25,000 for mental health charity Mind by covering the equivalent distance from the UK to Japan, 5,882 miles, where the Olympic Games were hosted in 2021.
Team events bringing company staff together were planned to enable Lubrizol to reach its target. But when the third Covid lockdown hit in 2021, employees adapted by completing many challenges on their own in order to reach the goal. One member of staff rowed 1,000 miles on a home-rowing machine, while another took to the water on the Beaulieu River in Poole harbour to row 21 miles – the equivalent of the English Channel.
Eighteen months later, Lubrizol’s employees have finally reached their £25,000 target after a team of 14 from offices in Derbyshire and Barnsley completed the famously gruelling Yorkshire Three Peaks challenge, which involves climbing Pen-y-Ghent, Whernside and Ingleborough within 12 hours – a distance of some 24 miles.
Chris Hart-Jones, production manager at Lubrizol’s Barnsley site and responsible for orchestrating the Lubrizol Olympics, said: “I’m so proud of Lubrizol, all our employees, and everyone who supported us to complete the Olympics challenge.
“It has gone beyond my expectations. When we started to plan the event, it was pre-Covid. When Covid came, it changed everything. What it did was spur people’s imaginations. Faced with being unable to get to the gym, many of our staff members massively rose to the challenge by coming up with their own ideas, for example: rowing 1,000 miles at home.
“Our final team event, the Yorkshire Three Peaks, was tough but enjoyable. It was a great opportunity to meet people I hadn’t met before because they joined the company during Covid and we had only met over the screen for online meetings.”
Chris personally undertook all team events organised by Lubrizol when social gathering was once again permitted: walking up Snowdon in Wales, Scafell in the Lake District, the Yorkshire Three Peaks and Mam Tor in Derbyshire. He also completed all the distance between Lubrizol’s sites on a Peloton bike!
Another employee who enthusiastically took part in the Lubrizol Olympics and all team events was Suraj Lal, of Derby, who retired this year as an engineer at Lubrizol after working there for 27 and a half years.
Not content with his daily 15-mile return cycle ride from his home in Allestree to work at Hazelwood near Belper, Suraj undertook to pedal an additional 100 miles a month for a half year period in order to help the company reach its target.
Suraj said: “It was the Lubrizol Olympics and we all needed to do something. When lockdown came, it would have been easy to do nothing but sometimes doing something is actually easier still! Once you commit, you have to complete a challenge. I found myself cycling here, there and everywhere at weekends and evenings over and above my normal commute, to reach our goal.
“It was about raising money for Mind, for people who don’t have a voice and perhaps may just go back into their shell when they are struggling. Mind is a very good charity. Covid affected people who used to have a social environment at work. It represented a sudden change in lifestyle. I just thought it was an important cause to be raising money for and I was proud to support it.”
Having now reached its target of £25,000 for Mind, Lubrizol is still carrying on fundraising until the end of 2022 so the total amount raised is likely to be higher still.
Employees from the company’s sites across the UK who participated in the Lubrizol Olympics were supported by more than 800 friends, family and colleagues, whose donations enabled the company to reach its fundraising goal of £25,000.
Other personal challenges included solo completion of the Yorkshire Three Peaks; a team of 15 walking 400,000 steps each in a three-month period; a 24-hour gym challenge undertaken by four students in Manchester, plus Derbyshire Lubrizol employees and married couple Claire and Tim Hollingshurst who ran, walked and cycled the equivalent distance from John O’ Groats to Land’s End – 603 miles – as well as undertaking the Yorkshire Three Peaks themselves.
Chris said: “It’s a wonderful achievement that Lubrizol’s staff have come together to complete this challenge for Mind, and a huge relief that on our last organised team event we hit our target. I think I’ll enjoy a nice rest now but I’ll look forward to seeing what charity Lubrizol will agree to support next.”
Mansfield Innovation Centre boosts local economy by more than £1.2m
Mansfield Innovation Centre has helped to drive a timely economic boost of more than £1.2m for the area by helping local businesses access grant funding, create new jobs and benefit from intensive business coaching and support.
In the past six months the centre’s innovation director, David Smith, has helped ten of its resident businesses successfully secure 13 grants from various local and regional funds, totalling more than £120,000. He has also delivered more than 150 hours of intensive one-to-one business coaching to Centre customers.
The grants have helped businesses purchase manufacturing machinery, IT equipment and infrastructure, CRM systems, new websites, software and other business tools to help them grow, and access marketing services and business consultancy. Much of this funding has been spent with local providers, helping to keep the money circulating within Mansfield’s economy.
More than 20 new jobs will be created as a result of the grant funding and support, while five existing roles will be safeguarded.
When taken together, the activities have helped create an estimated £1.2m of economic impact for the local area.
David Smith said: “We’re delighted to have been able to support so many great businesses in Mansfield Innovation Centre over the past six months, helping them to secure grant funding and giving them the tools and knowledge they need to realise their growth potential.
“The results of our efforts speak for themselves and will have a significant impact on the local economy as we head into the second half of the year.
“Providing intensive support is a big part of what we do here at Mansfield Innovation Centre.
“As well as providing high-quality office space for growing local businesses, we also aim to provide all our customers with a bespoke package of support to help them achieve their goals and overcome any issues or challenges they may be facing.
“This includes intensive one-to-one coaching and mentoring to help businesses develop the strategies they need to support every stage of their growth, as well as practical support to access grant funding and build vital connections with other businesses and support organisations.”
The centre provides a base to more than 30 growing businesses. It offers fully serviced offices and workshops, a virtual office facility, hot desk area, and meeting and conference rooms. Managed by Oxford Innovation Space, customers also benefit from a package of support and coaching tailored to each business’s needs and growth aims.
One of the businesses to benefit from the support is Mansfield Bi-Folding Doors, part of the Integra Windows Group, which offers a one-stop service for aluminium bi-folding and sliding patio doors, and aluminium windows to trade, DIY and retail customers. The firm became a customer at Mansfield Innovation Centre in 2021, when its Managing Director, Michael Irwin, was looking for additional space to grow the business.
Since becoming a customer, Michael has benefitted from several coaching sessions from David Smith, who has also helped support two successful grant funding bids, and an application under the Kickstart scheme to recruit a new young member of staff.
Michael said: “The support we’ve received from David and the team since joining Mansfield Innovation Centre has been fantastic. We’ve been able to successfully apply for three different pots of grant funding which wouldn’t have been possible without David’s support.
“The coaching we’ve received has also been invaluable. As a small business with ambitions to grow, it’s been great to work with someone who understands what we’re looking to achieve, can advise on the direction and strategy we should take, and just be an impartial sounding board to bounce ideas off.”
£20 million Government funding could be a ‘game changer’ for Lincoln
The city council’s Executive are set to discuss how a successful bid for a new railway bridge connecting Skellingthorpe Road to Tritton Road could be a ‘game changer’ Lincoln’s Western Growth Corridor
At Executive on 17 October, members will discuss the city council’s bid for Levelling Up Funding Round 2 and its importance in bringing forward crucial plans for a new railway bridge in the city.
Earlier this year, the city council, with support from Lincoln’s Member of Parliament Karl McCartney submitted a bid for £20million to government to bring forward the Western Growth Corridor bridge plans to help alleviate congestion in the area.
City of Lincoln Council, sitting as Planning Committee, approved the Western Growth Corridor plans on 12 January 2022.
Western Growth Corridor, which will be jointly delivered by City of Lincoln Council and Lindum Western Growth Community Ltd, will be the largest project undertaken in the city for decades, bringing more than £500 million worth of investment into Lincoln over its lifetime and providing hundreds of jobs locally.
The development will supply the city with 3,200 much needed new homes, a leisure village, an industrial park and transport infrastructure that will help alleviate some of Lincoln’s worst traffic problems.
Significant time has been taken to plan transport infrastructure which will improve the overall road network in the area, including a new spine road, which will run through the centre of the development, providing a main road to connect the development into the city centre and surrounding area.
This will connect Skellingthorpe Road to Tritton Road via a new bridge over the railway, which will play a major part in helping ease current congestion at the railway crossing.
Subject to Levelling Up funding from government of £20 million, the bridge project is set to be brought forward, and has been highlighted as a ‘game changer’ for traffic concerns in the western part of the city.
Subject to detailed technical highway approval, official works, including a new signalised junction into the development on Skellingthorpe Road/Birchwood Avenue, are set to begin in late Spring/Summer 2023.
Plans are currently being developed to minimise disruption for local residents, businesses and commuters during these works.
Leader of the city council, Cllr Ric Metcalfe, said: “The Western Growth Corridor has significant local importance for the growth of the city, and this funding would be a game changer in accelerating the delivery of the project. “If we could secure the £20 million funding it would enable us to deliver much needed homes for the city far earlier than initially planned, along with securing many construction jobs for local people.
“However, unfortunately, we are told that the second round of the levelling up fund is heavily over-subscribed, and Government has not yet said how much they are going to allocate for a project such as this.
“With continuous financial pressures on local authorities, we hope for a positive outcome when Levelling Up Round Two funding is announced later this year.”
Lutterworth cyber security solutions company acquires Bracknell firm
Cyber security company Intercede Group, the Lutterworth-based supplier of Public Key Infrastructure Credential Management Software, has acquired Authlogics, a Multi Factor Authentication (MFA) and Password Security Management (PSM) software vendor.
Intercede will pay an initial consideration of £2.5 million (adjusted to approximately £2 million after net debt and working capital adjustments) plus a further deferred conditional and staged earnout payment of up to £3 million.
Authlogics is a UK headquartered business based in Bracknell and was founded in June 2015. The company’s products service over 50 customers with 44 annual recurring software contracts across the Finance, Government, Defence and Healthcare sectors.
Four of the current Authlogics staff will become Intercede employees, including the two Authlogics founders.
Klaas van der Leest, CEO of Intercede Group, said: “The acquisition of Authlogics enables us to deliver on the strategic vision that we have shared with investors of addressing the entire authentication pyramid.
“We believe that the addition of the Authlogics products will allow us to support our customers and prospects wherever they are in their authentication journey, and to embrace a wider set of use cases. The deal also increases our recurring revenue base.
“We are delighted to welcome the Authlogics team to the group, along with their customers, partners and distributors.”
Revenue grows at electrical retailer against “particularly challenging market back-drop”
Marks Electrical Group, the online electrical retailer, has hailed a “strong trading period” as revenue increased in the six months ended 30 September 2022.
In an update on the London Stock Exchange, the Leicester-based company said strong performance was driven across all categories but particularly in televisions, cookers, vacuums and small appliances.
The half saw revenue growth of 15.1% to £43.1m, up from £37.5m in the same period last year, despite “a particularly challenging market back-drop.”
Mark Smithson, Chief Executive Officer, said: “After a solid performance in the first four months, the group’s positive trading momentum has continued in August and September as we continued to harness our market-leading customer service proposition and build brand awareness, enabling the group to deliver continued revenue growth and market share gains.
“The strong competitive activity we saw in pricing during the first quarter has begun to ease more recently and despite the margin pressure this has had in the first half, we remain focused on controlling our overhead base and confident of achieving our full year targets.
“Given the challenging economic backdrop our focus on maintaining inventory whilst improving inventory days has been key, allowing us to close the period with a net cash position of £7.7m. This puts us in a strong position for the months ahead.
“Our differentiated operating model, leading customer service and free next day delivery provides a unique offering that sets us apart from the competition. I’m proud of our achievements in the first half and thank all of our colleagues for their focus on developing and maintaining our leading customer proposition in a very challenging market.
“As momentum continues to build going into the peak trading period, our focus on operational excellence and cash flow generation, combined with our net cash position, provides us with a robust platform to generate continued profitable market share growth and achieve our full year targets.”
Emmanuel House reveals £2m plans to convert building into 20-bed accommodation to reduce rough sleeping in Nottingham
Emmanuel House has submitted plans to Nottingham City Council for ‘change of use’ to the first and second floors of its premises on Goose Gate.
The organisation wants to create 20 bedrooms that will provide short-term emergency accommodation for people who find themselves homeless.
The ‘New Vision’ project will have ensuite facilities, food and 24-hour support provided by a team of trained specialists.
The project is set to cost £2 million. If planning is approved, building work will start as soon as the funding is available.
The plans have been submitted by CPMG Architects and the project is managed by property and construction consultancy Edge PS.
Denis Tully, CEO at Emmanuel House, said: “Our ambition is to reduce the number of people who are homeless in Nottingham city for the benefit of individual people, the neighbourhood and for the City of Nottingham as a whole. The project fits with the city’s strategic plan to tackle homelessness. It will make a significant contribution to year-round emergency respite care.
“We have a new vision for Emmanuel House and for Nottingham’s provision to support some of its most vulnerable people. Our purpose as an organisation is to tackle isolation, vulnerability and homelessness within our community. This project is an extension of this mission.”
Nick Gregory, director at CPMG, said: “I knew that Emmanuel House was an incredible organisation, but as we’ve worked with them, my admiration for their compassion and commitment to helping those in need of support has grown – they are an inspiration. I am extremely proud that we can assist in bringing these proposals forward – the impact they have will be considerable.”
Geoff Tindsley, director at EDGE, said: “Emmanuel House makes such a difference to people in the Nottingham area, and this new accommodation offering will enhance its service further, so we’re incredibly proud to have a role in supporting this. Everyone in the project team is working towards a common goal in helping the organisation enhance its vital services even further, and we look forward to seeing the vision become a reality.”
The plans include one-to-one meeting spaces, 24-hour security, common rooms, computer suites, consultation spaces and rooms with disabled access. The project’s second phase will include a ground floor renovation to upgrade the open-access support centre.
Denis added: “Every day we’re reminded that homelessness can happen to anyone. This provision is for people who are in crisis and have nowhere else to go. They will be provided with support and a platform to access more secure accommodation. It will also make it easier for people who are homeless to get the services they need, such as medical care.
“Emmanuel House is delighted to be making the first step in undertaking this vital and ground-breaking project. Over the past 12 years, the Winter Shelter has provided emergency accommodation for 1621 people, of which 952 were supported in finding long-term accommodation. This on-site provision will continue to offer life-changing support to many more people in the city.”
Along with CPMG Architects and EDGE, the project team is made up of suppliers operating from Nottingham city centre, including structural and civil engineers Hexa, and mechanical and electrical engineers Chord Consult.
Loughborough Town Deal confirms £2.5m grant to help build on town’s sporting reputation
Loughborough Town Deal has confirmed a £2.5 million grant to help build on the town’s reputation for sporting excellence and harness that knowledge for the good of residents.
The funding has been awarded to Loughborough University’s Healthy and Innovative Loughborough project which will create jobs, help new businesses and improve people’s health.
This is one of 11 projects Loughborough Town Deal is supporting after securing £16.9 million of Government funding. In total, the projects are worth over £40 million of investment for the town.
The university project will support the expansion of SportPark, a complex which is home to a number of leading sporting organisations, and also help new businesses get off the ground and support entrepreneurs. The project will also; introduce a programme of interventions to help local people improve their health and create an Impact Hub to assess and analyse the health of the town to help plan for future developments and improvements.
The Loughborough Town Deal Board is co-chaired by Cllr Jonathan Morgan, leader of Charnwood Borough Council, and Dr Nik Kotecha OBE, founder of Morningside Pharmaceuticals Ltd.
Cllr Morgan said: “We are delighted to confirm this latest funding award for a project that will build on Loughborough’s global reputation for sporting excellence.
“The Healthy and Innovative Loughborough project has many benefits. Not only will it encourage more sporting organisations to set up home in the town but it will also support businesses and improve people’s health.
“The Town Deal is delivering real improvements and significant investment into Loughborough which will benefit future generations.”
Dr Nik Kotecha OBE said: “The Town Deal investment means we can help SportPark expand, bring more sporting organisations to the town and continue to grow Loughborough’s reputation for sport.
“As a local businessman, I am also pleased that this project will support entrepreneurs and the growth of new businesses. I know first-hand how difficult it can be to start a new business so I am pleased this project can offer them support as they are crucial to our local economy and to the creation of new jobs.”
Professor Chris Rielly, lead for the University’s Town Deal project, said: “The University recognises the important local economic anchor role it plays and we are delighted that, through the Town Deal investment, we can work in civic partnership with stakeholders to make Loughborough a healthy place to live and work, and enable new businesses to prosper.”
SportPark, on Loughborough University Science and Enterprise Park, already houses the UK’s highest concentration of sports governing bodies and national sports organisations. The 2,000 sq metre expansion will provide the capacity to welcome yet more mission-driven organisations to the University, co-located with world-leading expertise in sports science, engineering, health and well-being, high-performance athlete base, and sports infrastructure.
The SportPark expansion is on track for completion at the end of the year and will be the first Passivhaus development on the University campus. This will see 165 jobs on-site and an additional 41 jobs in the wider economy being created and supported in the process.
Sixty new businesses will also be supported through a New Business Wayfinder programme. In addition to providing office space and access to knowledge and expertise, businesses will be able to access an Innovation Lab in Loughborough town centre and a Prototype Lab on LUSEP.
An area of the funding will concentrate on the health of local communities and improving the connectedness between the railway station, the town centre and the Science and Enterprise Park. A programme of health interventions will be delivered to help local people.
The Impact Hub in Loughborough will focus on data gathering, and analysis, method development and engagement with experts to monitor the health of the town and plan for future improvements.
Loughborough Town Deal is backing projects to boost skills, improve the town centre, reduce flooding, regenerate the riverside, develop a creative hub and support two key attractions – the bell foundry and the Great Central Railway.
So far, Loughborough Town Deal has committed to invest:
- £2.6 million to create a Digital Skills Hub at Loughborough College
- £900,000 to create a Careers and Enterprise Hub in Loughborough’s town centre
- £835,000 to help save Taylor’s Bell Foundry, the last major bell foundry in the UK
- £885,000 to fund towpath improvements alongside the River Soar
- £1.6 million to a creative arts hub at the Generator.
- £1.7 million to support the Bedford Square Gateway Project which has regenerated part of the town centre
