East Midlands law firms unite to create dynamic legal partnership

Sills & Betteridge LLP have acquired Nottingham-headquartered Campions Solicitors. The collaboration is a significant development in the East Midlands legal landscape and realises the ambitions of both firms to create a dynamic legal partnership in the region. Sills & Betteridge were founded over 265 years ago and are consistently ranked among the top-performing law firms in the UK. The firm first expanded into Nottingham from neighbouring Lincolnshire in 2013 when they acquired MacLaren Britton of King Street. In 2019 they undertook extensive sympathetic refurbishment of their current offices on George Street, Hockley to where the Campions team will now relocate. Campions offices on Mansfield Road in the city will close – and their operations in Pride Park, Derby and Grove Park, Leicester will remain open and be further developed by the firm. The merged practice will operate across the East Midlands as Sills & Betteridge incorporating Campions. Sills & Betteridge Chief Executive Martyn Hall explained the reason for the merger: “Bringing an established East Midlands brand like Campions on board will help us to develop our profile in the region and gain real competitive advantage in our complementary practice areas of family law, residential conveyancing and wills, trusts and probate. “We look forward to working with their team and providing additional personal and commercial legal services to their clients.” Campions Founder Stephen Campion said: “We are very pleased to be joining forces with Sills. We are aware of their strong reputation and wide range of legal services and believe our collective expertise and commitment to delivering excellent client care will truly benefit existing and future clients.” Daniel Priest, joining the merged practice as a Partner agreed: “Having worked in family law for over 20 years I am very excited to be bringing my experience and expertise of working with clients throughout the East Midlands to such a large and established legal practice.” The acquisition will see the 400 strong team at Sills & Betteridge deliver legal services from 18 locations across Lincolnshire, Yorkshire and the East Midlands.

Collaboration between property businesses to give Chesterfield homes new lease of life

A section of houses in Chesterfield which have been unoccupied for many years are being brought back to life, following a collaboration between two property businesses. The buildings at 18-20 Highfield Road date back over 150 years, and are now being restored into high-end and co-living homes. Once complete, the properties will be managed by Dovedale Property Lettings, who are working alongside Property Projects Group on the revamp. The works will also greatly improve the energy efficiency of the properties, with plenty of insulation being installed ready for the arrival of new occupants. Rick Cusimano, Co-Owner of Dovedale Property Lettings, explained the story behind the project: “Overgrown with trees and weeds, the houses were barely visible from the road for many years. “I first became aware of them around 5 years ago, when I tried to make some enquiries to locate the owners, to no avail. Eventually, I saw them go up for auction and immediately knew I had to try and restore them if I could. “Mark-Jonathan Wilkinson from Property Projects Group shared my vision for bringing these properties back into use and after a few visits he decided to take it on! His team is doing a great job over there. “With super-fast broadband and modern decor, these will be stunning places to live. I’m incredibly excited to be able to restore these houses to high-end homes, it’ll be an incredible transformation. Work is progressing well and we’re hoping to be able to officially launch in August this year!”

Modular house builder plans job cuts

Derby-based modular house builder TopHat is planning to make redundancies to cut costs. Around 70 jobs are at risk, according to reports in the Construction Enquirer, with consultation now underway. Investors have injected £200m of funding into the business since it began trading in 2016. The news comes after the company’s results for the year to October 31 2022 indicated a widening of pre-tax losses (to £20.4m from £19.4m) and reduction in turnover (to £10.2m from £12.3m). TopHat told the Construction Enquirer: “TopHat is consulting with employees as part of a programme to reduce the costs of the business in response to the prevailing challenging market. “The changes are a prudent step to ensure the business maintains current delivery levels during 2024 and is well positioned for growth as the market returns. “The medium and long term need for volumetric modular homes is becoming ever clearer as traditional build capacity is constrained by the growing skills shortage. “While cost cutting is always tough, these changes will put TopHat in pole position for growth when demand rebounds.” In November 2023, the volumetric modular house builder agreed a £15m debt facility with Homes England. This followed news that TopHat had raised £70m from existing and new shareholders including listed housebuilder Persimmon and institutional investor Aviva Capital Partners.

East Midlands manufacturer awarded £1m fitout contract for build-to-rent scheme

Mansfield-based Deanestor, the fitout specialists, has been awarded a contract worth over £1m by Gilbert-Ash for the first build-to-rent scheme in Oxford. This will involve the manufacture and installation of more than 6,500 items of fitted furniture – kitchens and wardrobe sets.

The £63m second phase of West Way Square in Botley will deliver 150 rental homes for Grainger plc – the UK’s largest listed residential landlord.

Deanestor previously provided kitchen and bedroom furniture for phase one of this mixed use development, which created 264 purpose-built student apartments and studios, as well as retail, hotel and commercial space and other amenities.

Due for completion by the end of 2024, this latest scheme is designed by architects Mountford Pigott to be net zero carbon.

Commenting on this new contract win, William Tonkinson, Managing Director of Deanestor, said: “This is our first contract with Gilbert-Ash but our second on the West Way site. It follows our successful delivery of multiple fitout contracts for private rental developments across the UK, including two other Grainger schemes.”

The kitchens for West Quay Square will be manufactured and pre-assembled in Deanestor’s factory in Mansfield to reduce work on site and will be fitted in a range of linear and L-shaped configurations. Each kitchen will have grey base units with contrasting porcelain white wall cabinets, quartz worktops with matching upstands and splashbacks, under-cabinet feature LED lighting, and matt aluminium handle trims.

Appliances will be integrated and include dishwasher, tall fridge freezer, oven, hob, extractor and washer dryer.

Deanestor will also manufacture and install 230 sets of fitted wardrobes to the bedrooms, in a light grey matt laminate finish and with different combinations of hinged doors, internal shelving and hanging rails.

Minister for Levelling Up visits Rutland to discuss proposals, progress and plans for £22.9m projects

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Rutland County Council and Melton Borough Council welcomed the Minister for Levelling Up, Jacob Young, on Monday 26 February, as he visited Rutland to discuss the proposals, progress and plans for the £22.9m joint Levelling Up Fund (LUF) projects.

Both councils successfully submitted a joint bid to the Government’s LUF and are already putting in place projects that will help boost the economy of the local towns and improve connectivity. At the heart of the joint LUF bid is revitalising rural economies and market towns.

The projects within Rutland will include the development of a new 100m2 facility at Oakham Enterprise Park, which will provide clinical, development and training medical space. The vision of this project is to help to grow the area’s economic development and provide high level jobs in the area.

A second project is a 500m2 travel anchor Mobi-Hub, focussing on two routes that will enable access to work, learning and services across both Rutland and Melton. The Mobi-Hub will further facilitate significant improvements to public transport and bus connectivity, with two initial funded routes being a catalyst to enable more far-reaching developments within Rutland.

The Council is also using the funding to support the economic regeneration of the area by the introduction of a mobile, digital visitor experience that will enable visitors to view two of the area’s unique heritage treasures. The digitisation of these assets will be a huge boost to Rutland’s tourist industry and will also enable the council to develop the display of all heritage assets to maximise their potential.

Melton Borough Council is using the funding to develop over 2500sqm of flexible food and drink production units, including a support service to help small or upcoming local producers develop and grow in the Rural Capital of Food. In addition, £2m funding was also awarded to Melton College to refurbish the theatre, delivering a multifunctional event space that is more accessible and will attract larger events.

The Minister’s visit included a presentation of these LUF projects at Rutland County Council offices, Catmose House, followed by a tour of Rutland County Museum.

The Minister for Levelling Up Jacob Young said: “Levelling up is about spreading the equality of opportunity everywhere and it’s been fantastic to visit rural communities in Rutland and Melton to see for myself how levelling up investments are helping here.

“Projects like these sits at the heart of our levelling up ambition for the country and they will create long-lasting change and greater opportunities and jobs for people in communities such as these that we care so much about.

“It is also fantastic that some of this funding is being invested in the area’s rich culture and heritage, all of which will boost the local economy by attracting visitors for years to come.”

Leader of Rutland County Council, Cllr Gale Waller, said: “Both Oakham and Melton Mowbray are rural, historic market towns with huge potential for economic growth. We are delighted to welcome the Minister to Rutland to show how this funding is being used and how these five key projects really focus on economic innovation, cultural destinations, health, science and mobility.

“We have already approved the purchase of 3 electric minibuses that will run between Rutland and Melton, it is therefore exciting to have the opportunity to show how the LUF projects are progressing.”

Leader of Melton Borough Council, Cllr Pip Allnatt said: “I am pleased that locally we are working to use taxpayer’s money to implement really worthwhile projects across Melton and Rutland.

“These projects will provide more job opportunities, enhance the quality of life for residents across Melton and Rutland and also provide valuable tourism assets which will attract more visitors to the area. I especially welcome the chance to improve public transport linking Oakham and Melton via our villages providing much needed services to our rural residents.”

NTU Net Zero Innovation Programme to support local businesses in Bolsover

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Nottingham Trent University (NTU) has launched the Bolsover Net Zero Innovation Programme which will offer local businesses specialist support to understand the sustainability and net zero landscape. This important support is aimed at helping businesses lower their running costs, attract new customers, increase resilience and create a competitive advantage. NTU has been appointed the academic partner by Bolsover District Council to deliver its Hyper-Local Net Zero Innovation Programme (NZIP) and create a free programme of support for Bolsover-based businesses. The project forms part of the UK Shared Prosperity Fund (UKSPF) Investment Plan for Bolsover District. Businesses will have access to expert advice and support on how to measure and analyse their own carbon emissions, enabling them to take control of their own sustainability practices and make cost saving changes in their business. The programme will comprise of a range of activities delivered by NTU’s School of Architecture and the Built Environment, Nottingham Business School, and academic experts across the institution, including monthly net zero events, Carbon Management workshops and seminars, tailored premises audits to help develop carbon reduction plans, and bursaries to support businesses who participate in the programme. As well as one-to-one support for businesses, NZIP will also include knowledge exchange activities between academic institutions to improve innovation and the adoption of new technologies. Cabinet Member for Growth at Bolsover District Council, Councillor John Ritchie, said: “It is great news that we are able to carry out this project to help our local businesses have a better understanding of what Net Zero is and the benefits, both for their own business and for the district. “Just having an understanding of what green energy is available can be a minefield, so if we can help break down any barriers and assist our businesses reduce their carbon footprint, then it has to be good for them and the environment in general. “I would urge our local businesses to keep an eye out for our events and workshops and get involved as much as they can so we can help you and ensure this programme has a positive impact.” Jeremy Hague, Director of Knowledge Exchange at NTU, said: “We were invited by Bolsover District Council to help businesses in Bolsover on their journey towards net zero. The Council had seen our track record of providing support to nearly 250 businesses in Nottinghamshire. We are delighted to work with them on the NZIP programme which will provide support to a further 180 businesses in the Bolsover area.” The project will run until March 2025.

Global mark of excellence awarded to Nottingham Business School

Nottingham Business School (NBS) has once again achieved a global mark of excellence which recognises its dedication to providing a personalised experience for all its students, its connections with industry partners, and its commitment to ethics, responsibility and sustainability.   

NBS, part of Nottingham Trent University, completed a rigorous assessment process to retain its EQUIS accreditation for the full five-year period, demonstrating the School’s dedication to continuous improvement since its last evaluation in 2021.  

EQUIS is awarded to top business schools by EFMD, a global, non-profit, membership-driven organisation dedicated to management development. It benchmarks business schools against international standards in governance, programmes, students, faculty, research, internationalisation, ethics, responsibility and sustainability, and corporate engagement.  

The review team noted three major areas of achievement – personalised learning; connections with practice; and ethics, responsibility and sustainability. 

Personalisation and experiential learning were recognised as outstanding features of all programmes and modules at NBS. The use of a ‘student dashboard’ to measure engagement was seen to be internationally leading, adding positively to the student experience. The high quality of skills and professional development among NBS graduates was recognised by industry partners.   

NBS’ mission of being a ‘business school for business’ was evident in the positive feedback regarding its links with industry and corporate input into portfolio design and delivery. NBS was seen to play a key role in regional economic development, receiving regular support from the business community, alumni, and other stakeholders. 

Ethics, responsibility and sustainability were found to be ingrained into all aspects of NBS, with the review noting that the School encourages initiatives which make a positive impact on the community. 

Executive Dean of Nottingham Business School, Professor Baback Yazdani, said: “The assessment revealed the passion that our colleagues and students have for Nottingham Business School and their pride in being part of our community. This sense of belonging and commitment to making NBS the best it can be is reflected in the achievement of securing EQUIS accreditation for the full five-year term – an outstanding accomplishment for everyone involved.”  

Along with EQUIS, NBS is accredited by AACSB and EFMD BA for International Business, which are also globally recognised hallmarks of excellence and quality for business education, as well as holding Small Business Charter status for its support and development for SMEs. The school is also a PRME Champion and held up as an exemplar and beacon by the United Nations Principles of Responsible Management Education (PRME). 

First letting agreed at Northampton logistics park for “biggest warehouse in the Midlands”

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Yusen Logistics – a global supply chain logistics company – is an existing customer at SEGRO’s Grange Park estate in Northampton. The lease, which is subject to detailed planning consent, is for Yusen Logistics to occupy a 1,191,000 sq ft unit at the 600-acre industrial and logistics park, which benefits from a 35-acre Strategic Rail Freight Interchange, and which will enable the company to provide its customers with rail freight distribution solutions and support them in reducing their carbon emissions. The unit will be developed to high sustainability standards, targeting a ‘BREEAM Excellent’ rating. Features include an array of PV panels and 220 EV charging units will also be available onsite to power Yusen Logistics UK’s all electric company car fleet. The unit is expected to be fully operational by summer 2025. Meanwhile, the construction of the rail freight terminal has been completed and Network Rail is scheduled to undertake the signalling work to connect the terminal to the rail network by Autumn 2024. David Goldsborough, Managing Director at Yusen Logistics UK, said: “This Yusen Logistics UK facility, in partnership with SEGRO, sets a new logistics industry benchmark and further emphasises our commitment to providing sustainable logistics services by 2050. “We are both proud and excited to be a part of this exciting project and look forward to achieving our sustainability goals.” Dan Holford, Head of National Markets at SEGRO, said: “We’ve been working hard to create the infrastructure and develop this site in preparation for the first warehouses. It is testament to our strong customer relationship that Yusen Logistics UK has chosen to grow with us and become a strategic occupier at SEGRO Logistics Park Northampton. “SEGRO Logistics Park Northampton not only represents a critical piece of our national industrial infrastructure for storing and transporting goods, it is enabling employment and economic growth and doing so with sustainability at its heart. We’re particularly pleased that rail freight terminal is proving to be an important factor in the decision to locate at this development.” SEGRO Logistics Park Northampton will deliver up to 5 million sq ft of modern distribution space.

GXO Logistics lodges rival £760m bid for Wincanton

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GXO Logistics, the pure-play contract logistics provider, has made a cash offer to acquire Wincanton, surpassing a recommended bid from Ashby de la Zouch-based CEVA Logistics UK Rose. Under the terms of the offer, each Wincanton shareholder will be entitled to receive 605 pence in cash for each Wincanton share held. The acquisition price values the entire existing issued and to be issued share capital of Wincanton at approximately £762 million on a fully diluted basis and values Wincanton at approximately £764 million on an enterprise value basis.

The acquisition price represents a premium of approximately 26 per cent to the increased and final offer price per Wincanton Share of 480 pence from CEVA which was announced on 26 February 2024.

Malcolm Wilson, Chief Executive Officer of GXO, said: “Wincanton is a world class business, and we have long been impressed by their high-quality people and diverse customer relationships across key industries. “The combination of GXO’s technological capabilities and global reach with Wincanton’s proven expertise in the UK and Ireland markets will enhance our offering for the benefit of both companies’ current and future customers. Our superior offer reflects our conviction in the value of this business and the opportunities the combined company will realize. “GXO has a long heritage in the UK and a demonstrated track record of seamlessly integrating businesses in this market. We’re proud that our operations support the growth of UK companies, create high value jobs, and enhance the communities where we operate. “As a focused pure play logistics leader, we are committed to investing in superior, differentiated logistics solutions, and we are confident that this combination will generate significant value for our shareholders, customers, and employees alike.”

Manufacturing M&A activity drops in 2023

UK manufacturing M&A activity fell by more than 10% in 2023 amidst tough economic headwinds, but the sector is hopeful of a rebound in 2024 as manufacturers look to mergers and acquisitions to expedite their growth plans, according to accountancy and business advisory firm BDO. BDO’s Manufacturing Deals Review, published today [Thursday 29 February] reveals that 706 UK manufacturing deals were completed in 2023. This was down 11% on the 793 deals reported in 2022 as businesses battled inflationary pressures, protected cashflow and prioritised stability. Despite the drop, analysis shows that the slower activity was mostly confined to the first half of the year. In the last six months, more than 400 deals were completed with the momentum expected to continue into the next 12 months. Businesses in the engineering services subsector were the most prolific deal doers for the fifth year running, representing almost a third (28%) of all completed transactions. This was followed by businesses in the food & drink sector (14%), which saw deal volumes increase from 79 in 2022 to 102 in 2023. According to additional research by BDO and Make UK, more than a quarter (26.8%) of UK manufacturers are looking to make acquisitions in the next two years as they look to scale up operations and access new products and markets. This figure rises to 38% over a three-to-five-year period. Private equity plays an important part too. Of the deals completed in 2023, 16% involved private equity investors and one in five (20%) manufacturers say they are likely to seek private equity investment in the next one to five years. Roger Buckley, UK Industrials M&A Partner at BDO, said: “For many manufacturers, 2023 was about protecting cashflow and prioritising stability. The second half of the year saw an encouraging resurgence in M&A deals despite ongoing economic challenges, with the lower- and mid-market continuing to transact at volume. “Looking ahead, digital transformation, automation and the green transition will remain high on the agenda, with sustainability now playing an integral role in almost every deal we see. Private equity still has huge quantities of cash to deploy, and opportunities in the capital markets could well open up towards the end of 2024. Another year of post-Covid trading should help reassure buyers and encourage them to take stock of the huge opportunities an acquisition can bring.”