Leicester-based firm secures eight-figure package to support expansion

Stuart Pearcey
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Leicester-based firm secures eight-figure package to support expansion
Leicester-based Secure Retail has secured an eight-figure funding package from Shawbrook to help build its latest rental proposition and support further expansion in to Europe, following the opening of a new facility in Holland. The rental proposition will allow key existing clients to rent Secure Retail’s hardware, enabling them to update their technology more frequently and provide Secure Retail with consistent, recurring revenue., the specialist provider of payments hardware and services for the retail, hospitality, transport, and unattended sectors has signalled further growth plans, with funding secured from Shawbrook. Secure Retail, which NVM acquired a majority stake of in 2019, is an established and trusted global provider of secure and bespoke end-to-end payment solutions, providing payment gateway solutions, hardware, and software to leading brands on a global scale. Carl Barton, Founder of Secure Retail, said: “Secure Retail has been operational since 2003, and we pride ourselves on our strong relationships with our customers, and our commitment to innovation. Shawbrook were able to offer us a bespoke package that would both support our ongoing growth and allow us to launch our new rental proposition.” Andy Leach, Investment Partner at NVM Private Equity, said:  “Secure Retail has shown consistent growth during our investment’. The leadership team have handled the ever-changing payments landscape with confidence, ensuring they remain at the forefront of the industry. We’ve worked with Shawbrook previously and were confident Dan and his team could provide a suitable package for Secure Retail’s next phase. With this new funding injection and some ambitious plans, I’m looking forward to seeing what else Secure Retail can achieve.” Daniel Martin, Senior Director at Shawbrook, said: “We’ve been impressed with Secure Retail’s strong history within the payments space, and the management team’s ability to evolve and innovate its propositions based on client need. We’re thrilled to be working with the team at Secure Retail and supporting them with their growth plans going forward, and further growing our relationship with Andy and the team at NVM.”

Final phase of construction underway at Edwalton development

Tess Egginton
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Final phase of construction underway at Edwalton development
Construction work is now underway on the final phase of new homes at Vistry Group’s Edwalton Fields location in Edwalton. Bovis Homes and Linden Homes, which are part of the Vistry Group, are delivering over 750 new homes as part of a wider new neighbourhood being built off Melton Road on the southern edge of Nottingham. The final phase of 149 properties will be built by Linden Homes on a parcel of land to the north of the wider development. Bovis Homes is also building its final phase of 120 homes on the neighbouring site. Work started on the final Linden Homes properties in Summer 2023, and the development will comprise 104 two, three and four-bedroom houses for private sale and 45 affordable homes including apartments, flats and houses available through rent or shared ownership. The wider development has already delivered land for a new primary school – Rosecliffe Spencer Academy, which opened in September 2020 – and is also set to deliver a country park. Freya Halsall, marketing manager for Vistry Mercia, said: “Edwalton Fields has been popular with buyers since we started construction over five years ago and there’s already a vibrant new community established here. “As well as bringing hundreds of much-needed new homes to the area, Vistry’s developments have had a significant positive impact on the local community, delivering a total of £10 million in investment in infrastructure. “This is funding improvements to a whole range of facilities, including sports and leisure, public art, public transport, cycle routes, primary schools, libraries and public open space.”

New head of manufacturing in the Midlands for BDO

Tess Egginton
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New head of manufacturing in the Midlands for BDO
Accountancy and business advisory firm BDO LLP has named partner, Jonathan Lanes, as its new head of manufacturing in the Midlands. Having successfully led BDO’s Digital and Risk Advisory Services (DRAS) team in the Midlands since January 2022, Jonathan takes over the role from Jon Gilpin, who was appointed as head of audit at BDO in the Midlands last year. In his new position, Jonathan will be responsible for managing the Midlands manufacturing team, bringing together the very best experts and specialists to add real value to the sector. He will also continue in his role as head of DRAS in the region. Since joining the firm in 2007, Jonathan has built a strong reputation in the region for his commercial sector experience in manufacturing, which included a secondment at a large, listed Midlands manufacturer. He works with many of the firm’s largest listed and international manufacturing clients, delivering internal audit, risk management and corporate governance services. Commenting on his appointment, Jonathan said: “I’m absolutely delighted to be taking over the role of head of manufacturing in the Midlands. “The region has a rich heritage in manufacturing, which spans from general industrial automotive, aerospace, building products, food and apparel. In addition, the region provides specialist services to the sector, including engineering, assembly, machining, and head treatment services. As such, the market contributes significantly to the Midlands economy, accounting for nearly 600,000 jobs, while continuing to be a strong export performer – not only in the EU, but also in North America, Asia and Oceania. “It’s for this reason why we place such a strong emphasis on manufacturing in the region, recognising its importance to the Midlands, while understanding the integral role we can play in supporting manufacturing businesses as they continue to navigate the ever-changing and complex economic environment.” BDO works alongside nearly 300 manufacturers across the Midlands, and 1,750 nationally. It provides services such as sector-specific accountancy, tax and business advice, as well as support on R&D claims and M&A opportunities. Kyla Bellingall, regional managing partner at BDO in the Midlands, said: “Jonathan’s huge experience in the manufacturing sector makes him the ideal candidate to take over from Jon, who has done a fantastic job over the last few years. “Manufacturing is a priority industry for BDO and, as such, we take pride in understanding the key issues affecting businesses across a swathe of sub-sectors. Jonathan will use his industry and advisory experience to help drive our proposition as we continue to use our capabilities to offer solutions to real challenges, while enabling our clients to grow in the UK and overseas.”

Artist impressions revealed as landmark Cleethorpes building progresses

Tess Egginton
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Artist impressions revealed as landmark Cleethorpes building progresses
A first look of a new landmark building set to be created in the heart of Cleethorpes has been revealed. A three-storey building will be constructed at the former Waves site on the corner of Sea Road and the Promenade, comprising of state-of-the-art public amenities and changing facilities, as well as commercially lettable space across all floors of the building, which may include different providers in retail and hospitality. A planning application was approved in 2020, but work on the scheme was delayed due to the pandemic. Now, as works draw closer, minor amends to the existing planning application have been submitted. The building is now proposed to include a pagoda on the first floor to enable outdoor seating areas, and additional information has been included in the application about the configuration of the doors and windows, and also about the materials proposed to be used on the building. Earlier this year, preparatory works were done on the site, pending the development of the site. Councillor Hayden Dawkins, portfolio holder for culture, heritage and visitor economy, said: “Cleethorpes has a wealth of assets that can enable it to be at the forefront of regeneration. “The Sea Road building will help to develop the council’s ambition of a year-round visitor economy and its appeal as a distinctive landmark will draw visitors seeking a place to meet and socialise. “It will form an important part of the town’s strategy to unlock private sector investment, creating a safe and flexible multifunctional space, that serves both residents and visitors and be an important social and cultural destination, which local people can be proud of.”

Poundland set to acquire 71 wilko sites

Tess Egginton
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Poundland set to acquire 71 wilko sites
More than 70 wilko stores are set to become Poundland shops. The joint administrators of wilko, PwC, have entered into an agreement to provide Pepco Group with the option to acquire up to 71 sites to be opened as Poundland, after the administration trading period concludes at those sites. Edward Williams, joint administrator, says: “Alongside the previously announced agreement with B&M, we’re confident this sale will create a platform for future employment opportunities for people including current wilko team members at up to 122 locations. “We will continue to engage with other retailers around any interest in other wilko sites and are confident of completing a sale of the brand and intellectual property within the coming days.” The 71 stores include: Aberdare, Alfreton, Alnwick, Altrincham, Ammanford, Ashby, Barking, Bedminster, Beeston, Bicester, Bishop Stortford, Bletchley, Bolton, Brentwood, Brigg, Cambridge, Chepstow, Coalville, Cramlington, Droitwich, Eccles, Edmonton Green, Ellesmere Port, Ferndown, Gateshead, Grays, Greenock, Grimsby, Havant, Hayes, Headingley, Hessle Road – Hull, Hillsborough, Hitchin, Jarrow, Killingworth, Kimberley, Lee Circle, Leek, Leigh, Lichfield, Maidenhead, Matlock, Melton Mowbray, Nelson, Northallerton, Orton, Pembroke Dock, Peterlee, Pontefract, Pontypool, Redhill, Redruth, Ripley, Rugeley, Sale, Seaham, Selly Oak, Shrewsbury Darwin Centre, South Shields, Southport, Stafford, Stamford, Stockport, Thornaby, Wellington, Wembley, West Ealing, Wombwell, Worcester, Worksop.

Deal done for Derby development opportunity

Tess Egginton
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Deal done for Derby development opportunity
BB&J Commercial has negotiated the sale of a building which has been earmarked for student accommodation. The Sadler Gate Co has purchased the building in Ashbourne Road, which could be turned into a 22-bedroom scheme. Cameron Godfrey, a surveyor at BB&J – and agent managing the sale, said: “As was expected, we received a good amount of interest on the site due its valuable income stream and the current lack of investment/development opportunities within Derby. “Given that the demand for student accommodation is particularly strong and with the property being located close to the university’s campus, I was not surprised that we received interest from local developers based on the indicative 22-bedroom student apartment scheme the owners had instructed architects to prepare.” In a joint statement, Mitchell Shore and Ryan Slater, directors of The Sadler Gate Co, said: “We are delighted to announce the successful acquisition of this remarkable property, a significant milestone in our commitment to providing exceptional real estate opportunities. “This new addition aligns seamlessly with our vision for quality, style, and investment excellence with this meticulously chosen property embodying the values that define The Sadler Gate Co.”

Law firm BRM Solicitors appoints Director for disputes tam

Stuart Pearcey
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Law firm BRM Solicitors appoints Director for disputes tam
Regional law firm BRM Solicitors has appointed Lewis Hastie as a Director of its Dispute Team. Lewis joins the firm with more than 14 years’ post qualified experience, specialising predominantly in contentious probate cases and acting in contentious Court of Protection proceedings. Strengthening both the Dispute and Private Client teams, Lewis joins at a time of expansion for the departments. Lewis said: “I am very excited to be joining BRM, a firm that is expanding quickly and is fully committed to providing the best possible service for its clients, really going above and beyond for them. I look forward to bringing my strong experience in contentious probate and contentious Court of Protection cases to the firm and positively contributing to the firm’s vision for the future.” “I look forward to working with the team and helping to expand its growing client base, building on the excellent progress it has made.”

Economic uncertainty restricts hiring activity in the Midlands

Tess Egginton
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Economic uncertainty restricts hiring activity in the Midlands

Sustained economic uncertainty and cautious recruitment policies continued to hinder hiring activity in the Midlands, according to the latest KPMG and REC, UK Report on Jobs survey, compiled by S&P Global.

Recruiters registered the sharpest reduction in permanent staff appointments since May 2020 when the COVID-19 pandemic was at its peak. That said, recruiters displayed some confidence in temp billings, which rose for the third consecutive month.

There were marked increases in the availability of both permanent and temporary staff, with the former rising at the steepest rate since December 2020 amid increased redundancies. Pay pressures in the Midlands also strengthened during August, as recruiters mentioned that clients were raising salaries in order to attract staff, although there were mentions that the increased cost of living contributed to staff requesting higher pay levels.

The KPMG and REC, UK Report on Jobs: Midlands is compiled by S&P Global from responses to questionnaires sent to around 100 recruitment and employment consultancies in the Midlands.

Permanent staff appointments fall markedly

Recruitment consultancies based in the Midlands signalled a reduction in the number of people placed in permanent roles for the ninth consecutive month in August. The rate of contraction accelerated sharply on the month and was the steepest recorded since May 2020. Moreover, the drop in the Midlands was the sharpest of the four monitored English regions.

Anecdotal evidence indicated that permanent appointments fell due to more cautious hiring policies amid economic uncertainty. There were also some reports of candidate shortages.

August survey data signalled a rise in temporary billings in the Midlands for the third month in a row. The rate of increase eased from that seen in July and was the softest in the current sequence, however. The Midlands was the only monitored English region to report higher temp billings in August, which fell marginally across the UK on average.

Midlands-based recruiters signalled a sharp slowdown in permanent vacancy growth midway through the third quarter. Notably, the rate of expansion was the softest seen since February 2021. Growth of demand for permanent staff broadly stagnated at the UK level and was weaker than that seen in the Midlands.

Temp vacancies also expanded at a slower pace during August. The increase was the slowest for three months but slightly stronger than the UK average.

Permanent staff supply expands at fastest pace in 32 months

Adjusted for seasonality, the Permanent Staff Availability Index posted well above the neutral 50.0 threshold to signal an increase in permanent candidate numbers in the Midlands. The rate of growth was robust, the strongest seen since December 2020 and above the national average.

Higher staff supply was mainly linked by recruiters to redundancies, alongside an increase in overseas applicants.

The supply of short-term workers in the Midlands increased again midway through the third quarter, thereby stretching the current sequence of accumulation to four months. The rate of decline eased from that seen in July but remained strong overall. The rise in the Midlands was the second-softest of the four monitored English regions, ahead of the North of England.

Starting salary inflation rises to three-month high

Salaries awarded to new permanent joiners in the Midlands increased again in August. The rate of pay growth accelerated to a three-month high but remained softer than the levels seen over much of the past two years. Recruiters often mentioned that salaries had risen in order to attract suitably skilled staff, alongside increased wage demands from candidates in response to the increased cost of living.

Only recruiters based in the North of England saw a stronger rise in starting salaries than the Midlands.

Average hourly wages for temp staff in the Midlands increased for the thirty-third consecutive month in August. There were a number of reports that greater competition for scarce staff had pushed up wages. The rate of pay inflation was steep and the strongest recorded since March. Temp pay growth in the Midlands was the second-strongest of the monitored regions, behind London.

Commenting on the latest survey results, Kate Holt, people consulting partner for KPMG in the Midlands said: “It is unfortunate to see another month in which the number of permanent job roles has fallen sharply in the midst of continuing economic pressures faced by firms across the Midlands.

“These pressures are hampering hiring plans on a permanent basis but allowing for a rise in temporary roles and positions.

“Another glimmer of hope is that firms are offering up better salaries to potential candidates in an effort to attract them and take into account the cost of living crisis.”

Neil Carberry, REC Chief Executive, said: “August is always a slower month for new permanent roles, but this has been exacerbated in 2023 by the lack of confidence to start the new hiring we saw among firms in the Spring.

“As inflation begins to drop, it is likely that firms will return to the market later in the year – employer surveys suggest confidence may be returning. But for now, the labour market has more slack than it has since the heights of the first lockdown. Firms continue to use temps to fill any short-run needs, with a temp billings rise at a softer pace in August representing little change from the past few months.

“Recruiters routinely describe this sober overall picture as harder, but not necessarily bad. Vacancies are still in a reasonable position. There are huge variations between sectors, too. Hospitality, Accounting, Construction, Blue Collar and Engineering continue to be in demand, meaning employers are still experiencing shortages.

“Demand for permanent healthcare staff in the Midlands continues and across the UK has now risen for 37 months, for instance. In many of these sectors, temporary staff are keeping employers going – including in the NHS, where agencies have been unfairly blamed for failures of training and procurement practice from NHS England. A focus on effective skills reform will be vital to addressing shortages overall in all the shortage sectors.

“With demand weakening, we see the drivers for rising pay being more to do with companies’ pay settlements for existing staff, rather than market demand. Those finding new jobs are benefitting from rises that many firms put in place for their teams earlier in the year. That said, data that covers the whole of the UK shows that pay pressures remain sharp for permanent workers in some sectors driven by ongoing shortages.”

Founder and MD of M-EC Development Technical Consultants sells stake in company after 14 years

Tess Egginton
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Founder and MD of M-EC Development Technical Consultants sells stake in company after 14 years
M-EC Development Technical Consultants, operating in the field of engineering and technical consulting, is undergoing a transformative change. Co-founder and majority shareholder Eddie Mewies has sold his stake in the Leicestershire-based company, stepping back from his role as Managing Director with Alex Bennett, acquiring all shares, assuming full ownership of M-EC and the role of Managing Director. Eddie and Alex founded M-EC Development Technical Consultants in 2009 at the height of the recession, with a vision to provide innovative and sustainable technical solutions to clients across various industries. The company has grown from its humble beginnings to become a respected player in the technical consulting sector. Reflecting on his decision, Eddie stated: “It has been an honour to build and lead M-EC alongside a team of talented professionals. “I am immensely proud of what we have achieved, from delivering exceptional projects to fostering excellence and innovation within the organisation. As I take this step back, I am excited to follow M-EC’s journey into the new era ahead. I am confident that the company’s dedicated team and leadership will continue to thrive and excel.” Alex, who has been instrumental in the success of M-EC as a minority shareholder and Director for the past 14 years, brings a wealth of experience and expertise to his new role as Managing Director. With a deep understanding of the company’s operations, Alex is well-positioned to steer M-EC towards future growth and continued excellence in technical consulting. “I am honoured to take on the responsibility of leading M-EC into its next phase of development,” said Alex. “Eddie’s leadership and dedication have laid a strong foundation for our continued success. “I envision building upon the company’s values, ensuring a distinctive and vibrant working culture for our staff so we can continue to enhance our ability to deliver excellence to our clients, supporting their aspirations and fostering strong relationships. “We are committed to nurturing a company culture with personality, where each team member actively contributes to our collective success, driving innovation within the industry.” As part of this transition, M-EC’s Director, Tim Rose, will remain an integral part of the leadership team. Tim’s ongoing support will be instrumental in ensuring a smooth transition and continuity of operations and supporting Alex in steering the business forward. Tim says: “I’ve had the privilege of working for Eddie and Alex for the past 17 years, prior to M-EC’s conception, over which time, we have weathered numerous changes together. I’m deeply appreciative of their unwavering support, and I eagerly anticipate the future, working alongside Alex to propel the company and nurture our staff members. “This transition marks a new chapter for M-EC, and I have full confidence that we will grow and excel with our collective experience and dedication.” Although Eddie has transitioned from his position as Managing Director and shareholder, he will temporarily assume a consultancy position at M-EC, ensuring the seamless progression of ongoing projects and providing essential support during this transitional phase.

Nottingham-based credit firm secures £500,000 investment

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Nottingham-based credit firm secures £500,000 investment

Foresight Group, a listed regional private equity and infrastructure investment manager, has announced a £500,000 investment from the Midlands Engine Investment Fund (MEIF) into Lightbulb Credit Ltd. 

Founded by James Piper in 2018, Lightbulb provides UK companies with the opportunity to improve their credit ratings with the main UK based credit agencies. The company is based in Long Eaton, Nottingham, where it employs six individuals. Since 2020, Lightbulb has successfully developed a technology-based approach to its unique solution enabling it to scale quickly without incurring additional costs. 

Foresight’s investment will enable Lightbulb to expand its reach, improve its service offering and target new customers. Foresight’s Private Equity portfolio companies have previously used Lightbulb’s solutions. 

James Piper, CEO of Lightbulb, said: “We’re delighted to receive funding and support from Foresight and the Midlands Engine Investment Fund. We see this as being a real catalyst for our growth and expanding our reach.”  

Ray Harris, director based in Foresight’s Nottingham office, added: “We were amazed by the service provided by Lightbulb. James and the team have built a fantastic business and we look forward to supporting them on their next stage of growth.” 

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