Subsidence specialist secures seven-figure loan to support acquisitions
A Midlands-based business which specialises in subsidence monitoring has secured a seven-figure debt funding package from Frontier Development Capital (FDC) to support its acquisition plans.
SML Group has already acquired and successfully integrated six businesses in the past 10 years and now employs 160 staff at its headquarters in Leicester and its offices in Edinburgh, Peterborough, Norfolk, Swansea and Arundel, Sussex.
The group operates through a range of brands including My Home Needs, Subsidence Monitoring, Geo Info, Landmark Surveys, Ratcliff Land Surveys, Drillline GPR and The Survey Store. In addition to subsidence monitoring for loss adjusters and insurers, it provides geo-spatial surveys and geo-technical services including materials testing and inspection to the construction industry.
SML Group has doubled its turnover in the past 18 months to £12m and aims to continue this rapid growth in the next five years through a combination of organic growth and acquisitions. The business was founded in 2007 by subsidence specialist Thomas Harpin in response to the growing demand for monitoring services.
Thomas Harpin, who is the group’s CEO, said: “SML Group aims to bring innovation into the traditional world of surveying by providing a single point of contact for multiple services and adopting the latest technologies to give our clients added value.
“We have a strong track record for integrating and successfully growing the businesses we acquire. Surveying is a very fragmented market with lots of small firms so we see scope for further acquisitions. The funding will support our ambition to become the largest multi-disciplinary surveying company in the UK.”
The Frontier Development Capital team included Charlie Robinson and Kathryn Hoverd. Charlie Robinson, Investment Director, said: “Tom and his team have impressed us with their strategic and operational approach to the subsidence industry.
“SML Group is already a leading service provider and has a clear plan for expansion via both organic and acquisitive growth. This funding will allow the business to take advantage of the opportunities and continue on its growth path. We are looking forward to partnering with the business on its next stage of development.”
Stephen Humphrey provided fundraising advice to the company and will take on the role of group Chairman going forward. Paul Tallon and Olivia Dowdeswell of Cooper Parry provided financial due diligence to FDC while Iain Wright of Claritas provided tax advice to the company. Chris Jones, Karem Al-Dahleh and Ginny Tan of Gateley plc provided legal advice to FDC, while BHW provided legal advice to SML Group.
Partnership delivers 348 new homes to Nottingham city centre
blocwork, the partnership between Network Rail and property developer bloc Group, has completed its first build-to-rent scheme for Grainger plc in Nottingham.
The Barnum – a 348-home scheme situated adjacent to the city’s railway station – was delivered in partnership between blocwork and Grainger, the listed residential landlord, and marks the regeneration of a significant area of brownfield land.
The scheme is the first delivered in partnership between blocwork and Grainger, and follows the recent announcement that they will partner again with the potential to deliver some 2,000 new purpose-built BTR homes across sites in major cities across the UK.
Richard Thomas, development director at bloc Group, said: “blocwork was created with the aim of repurposing railway land and buildings into sustainable long-term assets, and The Barnum has been a great project to kick the partnership off.
“As well as the partnership with Network Rail, we’ve worked very closely with Grainger and the contractor Graham to create a development that not only brings much-needed new homes to Nottingham, but also brings life to an area of the city that had previously been restricted to railway infrastructure.”
Robin Dobson, group property director at Network Rail, said: “Combining Network Rail’s infrastructure experience with the private sector development expertise of bloc Group has proved to be a fruitful partnership, which is clear by the successful launch of The Barnum.
“Delivering developments through Partnerships like blocwork are important for Network Rail Property as we look to build housing and mixed-use regeneration across our brownfield estate in a way that can be accelerated and scaled across our portfolio.”
Curve hails one of its most successful years with turnover at an all-time high
Leicester’s Curve theatre has released its 2022/23 Annual Report, detailing one of the theatre’s most successful ever years, with turnover at an all-time high of £17m.
The first full year of in-person performances and activities since the pandemic, across the year Curve welcomed 249,900 audience members to see work on its stages. Under the theatre’s Made at Curve banner of produced and co-produced work, 840,500 tickets were sold at the theatre’s Leicester home, on tour nationally and internationally.
Off-stage, Curve reported more than 30,000 participants of all ages engaged with its learning, community and artist development work, and the theatre continued to inspire local pupils and students, with over 430 schools and colleges attending performances and participating in activities.
2022/23 also saw the first full year of Curve’s Neighbour-Hubs programme, an initiative which aims to develop long-term, meaningful and creative partnerships with schools, SEND and Alternative Education Providers, and Community and Elders groups across five key areas in Leicester city identified as having high levels of deprivation, high levels of ethnic diversity or low levels of engagement with Curve.
Curve continued its commitment to supporting and developing local artists, with over 1,100 creatives, theatre-makers and practitioners taking part in its artist development sessions across the year, and 44 local artists taking part in its New Work Festival.
Speaking about the 2022/23 report, Curve’s Chief Executive Chris Stafford and Artistic Director Nikolai Foster said: “In the first full year we’ve been able to welcome audiences in-person since the pandemic, it’s a testament to all the terrific artists, creatives, practitioners, partners and of course, Team Curve, we can report 2022/23 as arguably Curve’s most successful year to date in so many ways.
“On stage we have shared phenomenal work, and off-stage there is equal cause for celebration, with our community, learning and artist development work thriving.”
Thanks to higher than ever ticket sales at its Leicester home and on tour, Curve has reported a turnover of more than £17m across the year, however, the success comes at a time of increasing costs and further squeezes on audience members’ budgets.
“Whilst we celebrate these highlights,” Stafford and Foster continued, “we must also consider these achievements within the context of a challenging landscape. This year has seen soaring production costs, rising electricity rates (leaving our theatre facing a six-figure bill increase) and a cost of living crisis further squeezing budgets.
“We are committed to doing everything we can to maintain our artistic ambitions, our community engagement programmes and our accessible pricing, but we must acknowledge and be mindful of the fact that we are navigating an exceptionally difficult period.
“We know the next few years will continue to be a challenge for both Curve and our industry, but we remain ambitious and determined for our future success. Our sincere thanks go to Team Curve, our Board of Trustees, our principal funders Arts Council England and Leicester City Council and all of our loyal audiences and supporters – you all play a vital role in making Curve the special place it is.”
2024 Business Predictions: Kul Mahay, founder of Ignite Your Inner Potential
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Kul Mahay, emotional intelligence expert and founder of Ignite Your Inner Potential.
The culture within workplaces is changing – and organisations will need to continue to work at relationships with employees and be certain of their core values if they are to succeed in 2024.
Over the past few months, I have seen more and more organisations ensuring that their goals and their ethos aligns with that of their employees and clients or, quite bluntly, they’re cutting ties. We’re a changed world, and leaders need to stay relevant and informed if they are to retain talented members of staff.
People are our greatest resource as business owners and they need to be seen, heard, valued and appreciated. Creating workplace cultures where people are looked after, and feel psychologically safe is probably the number one priority right now. Only then can they thrive.
Organisations need to understand the power of Human Centred Leadership and the value that it can bring in getting the best from your people. Virgin’s Richard Branson is a great example of a human-centric leader; he’s consistently good and knows the value of people.
We will see lots of varying leadership styles in the spotlight over the next 12 months, especially with a general election looming. It will be interesting to see and study the contrasting methods of leadership, and maybe take a few notes to bring back to the workplace.
Flex office operator supports nationwide literacy campaign
Flex office operator, Cubo, has thrown its support behind a campaign aimed at transforming children’s lives through the joy of reading – and has launched its own fundraising campaign aimed at encouraging members and businesses to ‘Gift a Child a Book at Christmas.’
The company, which has nine sites across the UK including two workspaces in Nottingham and one in Derby, has adopted Bookmark Reading Charity as its annual charity for 2024 and is encouraging donations from Cubo members and the wider business community to provide books to children across the area.
Recent SATs results from July 2023 have revealed that one in four children leave primary school without the ability to read proficiently. In addition, the attainment gap between disadvantaged children and their peers has reached its widest point in a decade (FEA, 2022).
Bookmark was founded by Sharon Pindar in 2018 and aims to change children’s life stories through the joy of reading.
A data driven, impact-focused charity, Bookmark works with children who face barriers to becoming readers by providing one-to-one reading programmes, both online and in person.
The charity also equips schools with dedicated resources to offer wraparound support, providing diverse, high-quality books, materials for extracurricular reading, and on-going support for teacher training and development.
As part of its mission, Bookmark aims to deliver 50,741 one-to-one reading sessions to children over the next year. This time, when scheduled back-to-back equates to three years of non-stop reading. The charity also aims to send out thousands of books and reading resources to children across the country, putting them directly into the hands of children who need them most.
Commenting on their partnership with Bookmark, Rebecca Brough, CMO at Cubo, said: “We’re thrilled to announce Bookmark as our annual charity for 2024 and are really excited to be launching our ‘Gift a Child a Book at Christmas’ fundraising campaign.
“We believe that access to books is fundamental to a child’s development, and through our partnership with Sharon and her team at Bookmark, we hope to make a difference to the lives of young readers.
“All our management team have young families and share Bookmark’s passion for fostering a love for reading and providing vital resources to children in need.
“We hope Cubo members, and the wider business community will support our Christmas campaign and the other exciting initiatives we have planned for 2024.”
Sharon Pindar, Founder & Chair of Trustees at Bookmark, added: “We are delighted to be partnering with Cubo as their chosen 2024 Charity of the Year and for the very special ‘Gift a Child a Book at Christmas’ campaign.
“With recent research from the National Literacy Trust showing that almost a million children and young people do not have a book of their own, it is more important than ever to fill this resource gap. This is vital to ensure that children have the tools they need to become confident and joyful readers.
“Giving a child a book is a gift that will last a lifetime and can be the spark that is needed to ignite the joy of reading.
“Thank you to the team at Cubo for supporting Bookmark’s mission. We look forward to working with you throughout the year!”
To donate to Cubo’s Gift a child a book this Christmas’ appeal, visit bit.ly/Donate-cubo.
BDO makes parter appointment to Midlands audit team
Accountancy and business advisory firm BDO LLP has strengthened its Midlands team with the appointment of Chris Cole.
Chris joins the audit team as partner. He brings more than 19 years’ experience to the firm, with particular expertise in auditing US-listed businesses under the United States Public Accounting Oversight Board (PCAOB) standards, including auditing SOX controls – measures put in place by companies in order to identify and prevent errors or inaccuracies in financial reporting.
Having worked in the US, UK and Australia throughout his career, Chris adds significant strength and depth to BDO’s international credentials, while bringing expertise across a wide range of sectors, such as automotive, international manufacturing, and mining. At BDO, he will be responsible for leading the region’s US reporting proposition, while working alongside the London Audit Group’s US team. He joins from KPMG.
Kyla Bellingall, Regional Managing Partner at BDO in the Midlands, said: “Chris is a fantastic addition to the team and demonstrates our ongoing commitment to attracting the region’s best talent.
“His deep-rooted experience in advising US-listed businesses will help to strengthen our international proposition in the region and adds an exciting dimension to the services we offer in the complex area of audit and assurance. We’re delighted to have him on board.”
Chris said: “I’m very excited to be joining BDO and embarking on the next stage of my career at a firm with significant global reach and auditing capabilities. The firm continues to invest significantly in audit quality, with people and technology at the centre of that. I look forward to working alongside the team and bringing a unique perspective to the role.”
His appointment follows the promotion of Sam Lifford as partner in the firm’s Not For Profit (NFP) audit practice on 1 November. Sam, an established RI in the NFP market, has demonstrated exceptional capability in managing a substantial portfolio in higher education, charities, and housing. Sam is the Regional Head of NFP, making a substantial contribution to BDO’s national strategy and activity in this area.
Estate agency listed as ‘exceptional’ for seventh successive year
The North Derbyshire and Sheffield-based firm has once again listed as exceptional in the Best Estate Agent Guide, taking home the Gold award for its sales and lettings service for the seventh year. At the ceremony, its trademarked SecureMove service, designed to minimise fall-throughs and speed up sales for buyers and sellers, also earned the firm a place on the shortlist for the Innovation Award.
Redbrik‘s national commendation has been complemented by a flurry of accolades over the past few months including a regional win. At The Negotiator Awards in London, Redbrik’s letting department received Highly Commended status in the competitive Property Management Department of the Year category.
Closer to home, the team was crowned Property & Construction Company of the Year at the inaugural unLTD Business Awards. Judged by some of the region’s most accomplished business leaders, this award acknowledges the company’s achievements and contributions within the property industry in South Yorkshire.
MD Mark Ross said: “We have continuously aimed to set the standard for excellence in the property sector, and our win at the unLTD Business Awards, alongside our recognitions at The Negotiator Awards and EA Masters, are a well-deserved acknowledgement of the team’s ongoing dedication and hard work.
“This year, the implementation of SecureMove has been a game-changer, redefining our sales service and elevating the experience for movers by improving the efficiency and security of moving home. It is fantastic to receive recognition for the work we are doing to improve the home moving process and the industry as a whole.
“We can’t wait to build on our success in 2024 and continue to provide the best possible support for those considering a move.”
Senior living specialist submits plans for care home in Leicestershire
Plans have been submitted by senior living developer Charterpoint for a 72-bedroom care home in Markfield in north west Leicestershire.
The detailed proposals are for land to the north of Leicester Road.
They include plans for a mainly two-storey, modern care home, which also features en-suite bathrooms to each bedroom, residents’ lounge and dining areas, a café/bar, plus activity areas. The proposals also include 34 car parking spaces, along with terraces, patios and landscaped gardens.
The plans have been submitted to Charnwood Borough and Hinckley and Bosworth Borough Councils following a public consultation process.
MD of Charterpoint, Giles Nursey, said: “Charterpoint is a specialist senior living developer, with a significant portfolio of care homes developed across the East Midlands.
“We have established that there is a need for a modern, purpose-built care home to meet the needs of older people in the Markfield area of Leicestershire.
“In preparing our scheme we have sought to provide a high quality, modern and neighbourly development that sits within the existing landscape, maintaining and enhancing the existing boundary hedgerow along Leicester Road.”
New Chair poised to take over at Rolls-Royce SMR
Sir Stephen Lovegrove takes over from Paul Stein as Chair of Rolls-Royce SMR on New Year’s Day.
Sir Stephen joins at an important moment for Rolls-Royce SMR, as the business seeks to crystalise the progress it has made and secure domestic and export contracts, building on Mr Stein’s role in Rolls-Royce SMR since its inception and has been key to the growth and success of the business.
Acting as Chair since the launch of Rolls-Royce SMR in November 2021, Paul has seen the business grow to over 600 people, the successful entry and progression through the UK’s regulatory process and significant engagement with potential export markets.
As a renowned global leader in energy and security, Sir Stephen will bring a great depth of knowledge and experience to the role. He was the UK Government’s National Security Adviser until September 2022, previously serving as the Permanent Secretary of the Ministry of Defence.
He has held several senior roles across Whitehall, including Permanent Secretary for the Department for Energy and Climate Change, CEO of the Shareholder Executive (now UKGI), and was the UK Government’s representative on the Board of the London Organising Committee of the Olympic Games and Paralympic Games.
Chris Cholerton, Rolls-Royce SMR CEO, said: “On behalf of everyone at Rolls-Royce SMR, I’d like to thank Paul for his highly impactful contribution. He will leave a tremendous legacy having helped to establish and build our business, firstly in his role as Chief Technology Officer in Rolls-Royce plc and then as Chair of the business.
“I look forward to working with Sir Stephen Lovegrove as the business enters its next exciting chapter. His deep experience in energy, security and policy will bring support, rigour and guidance to our business as we progress in our mission to deliver clean, affordable energy for all.”
Sir Stephen said: “Energy security, decarbonisation and electrification are fundamental to the growth and success of modern economies and the health of the planet, and have led to a significant and inevitable growth in the demand for new nuclear power.
“I am honoured to have the opportunity to contribute to Rolls-Royce SMR and the deployment of the UK’s vital and deliverable solution to the global energy security challenge.”
In October this year, Rolls-Royce SMR was successfully shortlisted in the first stage of the Great British Nuclear SMR technology selection process and is focused on progressing, at pace, to a contract for deployment with GBN by summer 2024.
Granby Street changes could become permanent, says Council
A POP-UP scheme introduced three years ago to create more space for pedestrians and outdoor seating on Granby Street in Leicester city centre could be made permanent.
The Council is proposing to create additional available car parking on side streets off Granby Street to support local businesses, and so that footpaths along the busy shopping street can be permanently widened.
If given the go-ahead, the plans would see existing pop-up measures that provide more space for shoppers and outdoor café-style seating improved and made permanent. This would involve converting former pay and display parking bays on Granby Street – which have been out of use for more than three years – with new paving and seating areas, to help create a safer and more attractive route between the city centre and Leicester railway station.
The temporary measures were originally introduced as part of the city council’s response to Covid-19 in spring 2020.
Additional on-street parking is now proposed for Chatham Street, York Street, and Dover Street.
York Street would be made one-way to create space for more safe car parking.
The city council is also proposing to close the junction of Dover Street and Granby Street to motor vehicles to help improve safety. A new turning facility would be created on Dover Street, so access for general traffic can be maintained. This measure was originally proposed as part of the recently completed Granby Street gateway scheme, funded through the Getting Building Fund, a pot of government funding awarded for shovel-ready infrastructure projects to create jobs and support economic recovery.
The proposals are part of wider, ongoing investment to improve the street scene and shopping environment in Granby Street. This includes the refurbishment of historic shopfronts and restoration of the landmark Grand Hotel building, supported as part of the city council’s successful bid for £1.5million from Historic England towards a High Street Heritage Action Zone for the Granby Street and Church Gate conservation areas.
Deputy city mayor Cllr Adam Clarke said: “Granby Street is a major gateway into the city centre and a busy shopping street in its own right. It links directly to the railway station and is a well-used route for people walking, wheeling or cycling into the city centre.
“These latest proposals will build on the recent improvements to this important part of the city centre, and support the major heritage-based investment now being made to landmark buildings along the route. It’s vital that we continue to invest in Granby Street to support local businesses and to improve the look and feel of the area, making it feel safer and more welcoming to all.”
