UK Space Agency backs start-up based at Space Park Leicester

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UK Space Agency backs start-up based at Space Park Leicester
An agri-tech start-up working to eradicate global agricultural waste with support from Space Park Leicester has been accepted on to one of the UK Space Agency’s most prestigious business support programmes. Established in May last year, Messium is poised to transform the agriculture industry for the better by focussing on eliminating global agricultural waste through reduction in pesticide applications and the optimisation of fertiliser and water usage. Now it has been accepted on to the UK Space Agency’s Geo Accelerator six month bespoke programme which the agency limits to just five of the best high growth potential space companies in the UK. Messium Chief Technical Officer, Vishal Soomaney Vijaykumar, said: “Messium is keen to develop into a major UK space champion and wants to thank the UK Space Agency for their vote of confidence. “Being part of the UK Space Agency and Space Park Leicester ecosystems allows us to collaborate closely with other fast growing start-ups in the sector. “This promises to be a catalyst that speeds up both our, and the industry’s, collective future growth and development.” Being part of the programme will allow Messium to work in depth with experts from the UK Space Agency, its entrepreneurial growth and technical commercialisation enablers, funders and other organisations in the space sector. The wide ranging package of support also includes access to the UK Space Agency’s national roadshow of Trajectory events and free UKspace start-up membership. Last year, Messium became one of the latest companies to be accepted on the European Space Agency – Business Incubation Centre for the United Kingdom (ESA-BIC UK) programme at Space Park Leicester, the University of Leicester’s £100 million hub science and innovation park. Messium has also begun an activity in partnership with the European Space Agency and the UK Space Agency through the InCubed programme. Co-funded by the UK Space Agency, this activity involves Messium providing farmers with live updates on crop nitrogen status throughout the growing season, allowing for new insights, increased yields and reduced greenhouse gas emissions. Vinay Patel, Head of Commercial and Innovation at Space Park Leicester, said: “We are delighted that Messium has received this endorsement from the UK Space Agency. “Messium is using its expertise in machine learning and high spectral resolution image analysis to inform farmers precisely how to treat their crops for optimal results and minimal waste. We can’t wait to see where this support from the UK Space Agency will take them.” Portia Bircher, Business Support and Growth Manager at the UK Space Agency, added: “We are delighted that Messium will be joining our next Geo cohort, part of the UK Space Agency Accelerator, and we hope to be able to support the business as it looks to scale up further. “Messium is driving innovation in using Earth Observation data and what better place to be situated than Space Park Leicester which is also home to the National Earth Observation Centre.”

Merger plans agreed by real estate investment trust

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Merger plans agreed by real estate investment trust
The boards of Leicester-based Custodian Property Income REIT plc (CREI) and abrdn Property Income Trust Limited (API) have reached agreement on the terms and conditions of a recommended all-share merger pursuant to which CREI will acquire the entire issued and to be issued share capital of API. Following completion of the merger, existing CREI Shareholders will hold approximately 59.7% and API Shareholders approximately 40.3% in the CREI Group. It is expected that the CREI Board will comprise eight directors, with the addition of two of the existing API directors, Jill May and Sarah Slater. David MacLellan, chairman of CREI, said: “The Board is pleased to announce the merger of CREI and API which it firmly believes will benefit both our existing and new shareholders. “This transaction creates a well-positioned REIT of significant scale, giving the Combined Group’s shareholders the opportunity to participate in the returns from the complementary API and CREI portfolios, with a fully covered and sustainable dividend and a focus on ESG. “In the current interest rate environment, security and resilience of cash flows, scale and liquidity, supported by a clear and compelling strategic direction are the defining characteristics of a successful REIT. “The challenges the wider listed property sector has faced over the last 18 months highlight the merits of CREI’s differentiated approach and operational robustness, which contribute to CREI’s strong rating relative to its peers. The income and income growth characteristics of the API portfolio should enable the merged entity to optimise earnings and maintain CREI’s progressive dividend policy. “Shareholders in the Combined Group will benefit from material cost savings and efficiencies along with benefitting from significant future growth opportunities to enhance shareholder returns.” James Clifton-Brown, chair of API, said: “API has always sought to focus on delivering attractive, income-driven returns for shareholders. Over the years, API’s manager, abrdn Fund Managers, has assembled an attractive portfolio on the company’s behalf, with a weighting to more favoured areas of the market, a diversified tenant base and a focus on ESG. “The board of API would like to thank the management team for the important role they have played in assembling and managing the portfolio. “The Merger will enable API Shareholders to retain exposure to the portfolio and its growth prospects at a significant premium to API’s share price, with the prospect of superior share liquidity and an enhanced and fully covered dividend. “The API Board believes that, with increased scale and an enhanced capital structure, the Combined Group will be well positioned for the future. The API Board is therefore pleased to recommend the Merger to API Shareholders.”

Logistics firm proposes Wincanton acquisition

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Logistics firm proposes Wincanton acquisition

Ashby de la Zouch-based CEVA Logistics UK Rose has reached agreement on the terms of a recommended cash offer for Wincanton.

The acquisition values the entire issued and to be issued share capital of Wincanton at approximately £566.9 million on a fully diluted basis and values Wincanton at approximately £764.9 million on an enterprise value basis.

The deal implies an enterprise value multiple of approximately 6.8 times Wincanton’s underlying EBITDA and 11.7 times Wincanton’s underlying EBIT for the twelve-month period ended on 30 September 2023.

For CEVA the intended acquisition of Wincanton “represents an attractive growth opportunity” that is in line with its expansion strategy, and a “unique opportunity to expand CEVA’s offering in the UK, and to acquire complementary grocery and consumer expertise.”

Wincanton, listed on the premium segment of the Main Market of the London Stock Exchange, is a British supply chain solutions company. The Wincanton Group provides business critical services including storage, handling and distribution; high volume eFulfilment; retailer ‘dark stores’; two-person home delivery; fleet and transport management; and network optimisation for many of the UK’s best-known companies.

With almost 100 years’ heritage, Wincanton’s approximately 20,300-strong team operates from more than 170 sites across the country, responsible for approximately 8,500 vehicles.

CEVA is a third-party logistics firm, providing global supply chain solutions to connect people, products and providers all around the world. CEVA is part of the CMA CGM Group, CMA CGM being a global player in sea, land, air and logistics solutions, serving more than 420 ports around the world across five continents, with a fleet of around 620 vessels.

Sir Martin Read CBE, chairman of Wincanton, said: “This offer for Wincanton from CMA CGM is testament to the strength of the business we have built, our strategy, our strong customer relationships and our excellent people.

“CMA CGM is a highly-experienced operator in the industry, and as Wincanton becomes part of this larger business, it will be able to capitalise on the significant growth opportunities ahead.

“In unanimously recommending this offer to shareholders, the directors believe it is in the interests of all the company’s stakeholders. While we remain confident in the long-term prospects of Wincanton and the wider sector, we recognise that the strong performance of the company has not been reflected in the performance of its shares in recent years.

“We therefore believe this offer represents the best opportunity for shareholders to realise the value of their investment with greater certainty.”

James Wroath, Chief Executive Officer of Wincanton, said: “I am incredibly proud of the progress we have made at Wincanton over the last four years, thanks to our great people and customers. We have strengthened our business and ensured that we are at the forefront of logistics innovation.

“Our work in automation and technology has been industry-leading and has allowed us to take advantage of trends towards outsourcing and eCommerce while continuing to improve service for our long-term customers.

“This offer will enable Wincanton to continue and accelerate the progress that has been made, providing an excellent partner with the balance sheet strength that will allow the pursuit of both existing and new growth opportunities.

“CMA CGM’s strong track record of investing in its people and its commitment to its customers means that we are confident this offer will deliver benefits for all of our stakeholders.”

Rodolphe Saadé, chairman of CMA CGM, said: “I am very excited about the prospect of working with Wincanton’s experienced leadership team and the power of the combination with our logistics arm, CEVA.

“As a leading and trusted supply chain partner for many well-known British and Irish brands, Wincanton perfectly aligns with the CMA CGM Group’s ambition to further expand its presence in this strategic region.

“Wincanton’s renowned expertise in designing supply chain solutions for customers in the retail, grocery, eCommerce, construction, infrastructure, energy and defence sectors would enable CEVA to further diversify its contract logistics customer base.

“Bringing together the two entities would strengthen the CMA CGM Group’s footprint in the United Kingdom and Ireland, while also paving the way for new opportunities and more innovative product offerings. On behalf of our 155,000 staff members, I look forward to welcoming Wincanton’s talented people within our Group.”

Mathieu Friedberg, Chief Executive Officer of CEVA, said: “Wincanton’s commitment to their people drives their success in the UK contract logistics market. At CEVA, we accomplish our mission through the diverse, talented people we have working in the UK and around the world.

“The proven track record of both CEVA and Wincanton are largely thanks to our respective employees. In addition to the innovative logistics solutions that we could develop and offer together, we would be optimally positioned to answer even more supply chain challenges for our combined set of UK customers.”

2024 Business Predictions: Anna Hutton, director of communications and behaviour change at MacMartin

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2024 Business Predictions: Anna Hutton, director of communications and behaviour change at MacMartin
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 Anna Hutton, director of communications and behaviour change at marketing agency MacMartin. During 2023 we have seen a significant rise in the use of AI, and this is only predicted to increase. Behaviour change marketing is the term used to describe campaigns which are created to change human behaviour; whether that is to stop smoking, or to call out friends when they are carrying out misogynistic behaviours. With that in mind, our prediction for 2024 will be to see a rise in the need for human intelligence: a requirement to understand humans at a deeper level. As humans, we are predictably unpredictable. The rise in AI will call attention to the areas of work in marketing where the need for understanding humans and individual differences is really important. AI can’t replicate true creativity, understand nuanced social cues, or empathise in complex situations. These skills are deep rooted in human experiences. Behaviour change marketing is about our behaviours and attitudes; employing traditional marketing techniques to communicate with people to drive the desired changes in behaviour, based on our understanding of humans, including the acknowledgement of individual differences. For all the prevalence of AI, it will never be able to take over this profound understanding of humans and it is this that will become more and more important.

2024 Business Predictions: Kevin Hard, MD at Stagfield Group

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2024 Business Predictions: Kevin Hard, MD at Stagfield Group
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 Kevin Hard, Managing Director at land promotion and property developers, Stagfield Group. Sustainable developments are high on the political agenda right now and I don’t see that changing as we move forward into 2024. With Biodiversity Net Gain legislation coming into effect imminently and climate change and energy prices ever increasing, the focus is very much on providing innovative low energy homes, which helps combat the cost of living and creates desirable communities that people want to live in. Our latest development, ‘Abbey Central‘ in partnership with Peveril Homes, is breaking new ground with 71 homes designed with low-energy and sustainable development at its core.  We’re really pleased that the housing development has been highlighted as a blueprint case study by the local Council as to how future developments should be built in order to meet Carbon Net Zero goals. The Bank of England’s recent decision to maintain interest rates at 5.25 percent is testament to the careful consideration being given to the state of our economy. This decision provides a degree of respite for homeowners who have faced 14 successive rate increases and could indicate the conclusion of a demanding period for savers and borrowers. Nevertheless, it is essential to approach this development with a certain degree of scepticism. Amidst the challenging economic landscape, we can affirm that the Bank of England’s choice to halt interest rate hikes provides a ray of hope. The journey has been arduous for homeowners and savers alike, and this pause might introduce a phase of stability, presenting potential opportunities for those considering entry into the housing market. There is a likelihood that lenders will be motivated to provide more competitive mortgage rates. Notably, fixed rates below five percent are emerging in the market, particularly tailored for individuals with existing home equity to contribute toward a deposit.

Vistry Group signs deal to deliver 60 new homes for Northampton

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Vistry Group signs deal to deliver 60 new homes for Northampton
Vistry Group, the provider of affordable mixed-tenure homes, has sealed a £15 million deal to bring 60 new homes to Towcester Road, Northampton, in partnership with emh Group. The site already has Outline planning permission and the application to approve the Reserved Matters has recently been submitted. This new development will consist of 2-, 3-, and 4-bedroom homes. Set in the heart of south-west Northampton, this project has been planned by Vistry, working under its Countryside Partnerships brand, to strike a balance between family-friendly housing and green open spaces. As well as catering to the diverse housing needs of the area, the project will also include over £550,000 of investment in the local community. Andy Reynolds, Managing Director of Vistry South East Midlands, said: “We are thrilled to be working with emh on this development which will not only meet the housing needs of the community but will also blend with the local environment. “We’re excited to be a part of Northampton’s growth and to be entrusted with the build of these much-needed new homes which will contribute to the unique character of the area as well as releasing over half a million pounds of investment in local services to create a thriving and sustainable community.” Chris Jones, executive director of development at emh, said: “We’re proud to be working alongside Vistry Group to provide this new affordable home development in Northampton. “The scheme has been thoughtfully designed to meet the needs of local people, with community, green spaces and the environment in mind. We look forward to seeing the development progress in the coming months.”

Derby business owner prosecuted over counterfeit t-shirts

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Derby business owner prosecuted over counterfeit t-shirts
A Derby man, prosecuted for producing and selling counterfeit t-shirts for around four years, will have to use equity from the valuation of his property towards paying back the rewards of his crime. In September 2023, Mr Juri Frolov was sentenced to four months imprisonment, suspended for 18 months, and an application made under the Proceeds of Crime Act to recover any money he made from the illicit business. Some of this is now set to be paid from Mr Frolov’s share of equity on a house purchased through the Right to Buy scheme, following a hearing at Derby’s combined court centre on Thursday 11 January. The total benefit amount of £36,891.61 can only partly be met through the release of Mr Frolov’s equity in the property and the sale of seized items, including a heat press, printer and blank t-shirts. Together, these total £22,640, leaving a further £13,000 to be found. Councillor Shiraz Khan, Cabinet Member for Housing, Property and Regulatory Services, said: “This case is a perfect example that crime doesn’t pay, and shows that we are prepared to use whatever powers necessary to tackle illegal activity in Derby. “This type of firm action through the courts serves as a warning and deterrent to anyone operating criminal enterprises in the city.” Mr Frolov was prosecuted in September 2023 after printing and selling T-shirts of famous brands without the consent of the trademark owners. Investigations discovered he had been selling the T-shirts for around four years leading up to December 2019, when a search warrant was carried out at his home in the Arboretum area of Derby City. Trading Standards seized equipment including a T-shirt printer, a large amount of blank T-shirts, and customer returns. The shirts were advertised on eBay and printed to order from Mr Frolov’s home address. Previously Mr Frolov had received a letter from an anti-counterfeiting organisation requesting him to stop selling T-shirts which were produced without the consent of the trademark owner. He had failed to acknowledge the content of the letter and take appropriate action to stop producing and selling the T-shirts.

D2N2 LEP secures funding for next wave of Skills Bootcamps

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D2N2 LEP secures funding for next wave of Skills Bootcamps
D2N2 Local Enterprise Partnership (LEP) has been delivering Department for Education funded Skills Bootcamps, which have been developed by the Government as part of the Skills for Life programme. Following successful applications in four previous waves of Skills Bootcamps, D2N2 LEP has secured almost £5 million funding from the Department for Education to boost and broaden its Skills Bootcamps offer, as part of the fifth wave of Skills Bootcamps allocations. Funding of £4,967,950 represents an increase of almost £1.5 million on D2N2 LEP’s previous allocation in Wave 4 (£3.5 million). Skills Bootcamps are free, flexible courses of up to 16 weeks for adults aged 19 or over. They give people the opportunity to build up valuable sector-specific skills based on local employer demand and provide a direct path to a job on completion. With this funding boost D2N2 LEP intends to broaden the range of sectors that its Skills Bootcamps support. For example, it will for the first time, offer Skills Bootcamps in leadership and management for small and medium sized enterprises (SMEs). D2N2 LEP will also work with providers to offer a wider range of Skills Bootcamps programmes in its priority areas of digital, construction, engineering and green skills (construction and electric vehicles). As the lead partner, D2N2 LEP will be working with Derbyshire County Council to open the procurement window to allow providers to apply for delivery contracts for Wave 5 Skills Bootcamps programmes. D2N2 LEP will make an announcement as soon as this window opens, expected to be later this Spring. Employment and Skills Manager, Richard Kirkland, said: “I’m absolutely delighted that we’ve succeeded in our application to be a Wave 5 Skills Bootcamps provider, following our successful track record of delivering Skills Bootcamps in all four of the previous waves. “It’s fantastic that through the increase in funding we’ve secured, we’ll be broadening our offer to include new programmes, such as leadership and management for small and medium sized businesses. “This is really positive news as I look back on my 40 year career in education and skills and prepare to retire; it’s such a proud moment for me. I would like to thank all my colleagues, all our providers and partners for their support over the years and I wish all the Skills Bootcamps learners all the very best in their future careers.”

Derby business calls for applications to community growth programme

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Derby business calls for applications to community growth programme

A local business is offering to mentor and support companies, charities and non-profit organisations who are making a positive impact in Derby.

Called the Community Growth programme, the initiative is being led by Bev Wakefield, owner of Vibrant Accountancy. It is open to those who can demonstrate the potential for significant impact in the city, and comes after a successful pilot scheme with Bridge the Gap; an organisation that supports children’s mental health.

Bev said: “I am very excited about the Community Growth programme and we have already had significant interest.

“It is open to businesses, not-for-profit organisations and charities that not only seek to elevate their own success but also aspire to make a significant and positive impact on the Derby community.

“This is our way of giving back; by helping others to achieve their goals and make a difference to our city.”

One deserving organisation will be carefully chosen by the Vibrant team in February. That organisation will go on to receive tailored business support that includes strategic planning sessions, cash flow forecasting, mentoring and regular profit and cash flow improvement meetings.

Bev said: “The sessions will be tailored for the business, focussing on their specific pain points and challenges, and helping with opportunities from managing cash flow, profit improvements and fine tuning their personal and business goals.

“Vibrant Accountancy’s mission statement is to make an impact, and that’s what we hope we can do with the Community Growth programme.”

Jennifer Wyman is the founder and creative director of Bridge the Gap. She praised Vibrant Accountancy for being ‘an invaluable partner’ and for the part they have played in the success of the organisation.

She said: “Vibrant Accountancy has played a crucial role in not just managing our finances, but truly understanding our mission to support child mental health.

“Their team has gone above and beyond, seamlessly integrating into our vision and becoming an integral part of our success story.

“The level of commitment and dedication displayed by Vibrant Accountancy is truly commendable. They have not only assisted us with decision-making processes but have also provided insightful forecasting that has allowed us to plan effectively for the future.

“Their ability to ask pertinent questions has been instrumental in shaping our strategies and ensuring the sustained growth of our organisation.

“Thanks to Vibrant’s support, we have been able to bridge gaps in our operations, enhance our financial efficiency and ultimately channel more resources towards providing support to families in need.

“I’d encourage anyone who wants to make a difference in Derby, and who needs that little bit of support to apply for the Community Growth programme.”

Deadline for applications is January 26, 2024.

Leicestershire businesses encouraged to grow with government scheme

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Leicestershire businesses encouraged to grow with government scheme
Small and medium-sized businesses in Leicestershire are being urged to take advantage of a government-funded scheme designed to boost leadership skills and business performance in 2024. The Help to Grow: Management Course at De Montfort University’s Leicester Castle Business School (LCBS) runs for 13 weeks from March 12. The programme, worth £7,500, is 90% funded by the government and 10% through a bursary from Leicester Castle Business School, however places are limited. Delivered online and in person at Harborough Innovation Centre in Market Harborough, Help to Grow: Management is delivered by expert tutors with real world business experience and is designed to fit in alongside full-time work. Combining online and case study workshops, 1-2-1 mentor support and peer networking, the programme covers key areas for development. These include leading innovation in your business, developing a growth plan, managing and motivating your team, building resilience as a leader, creating new opportunities and leading a culture of responsible business practice. As well as the chance to learn practical skills from business experts, the course offers the opportunity for businesses in different industries and at different stages of their development to learn from each other by sharing experience and offering support. “As a Small Business Charter accredited business school, we’ve been helping businesses across a wide range of sectors grow and develop through Help to Grow: Management since 2020,” says LCBS’s Help to Grow: Management programme director, Dr Danny Buckley. “While over 200 businesses from our region to date have taken advantage of this chance to grow their business, it remains the case that some organisations are still unaware of this fantastic, fully-funded opportunity. So, with some places still available for this spring’s cohort, we’re encouraging businesses in our region to join us for this limited-time opportunity to take their company to the next level in 2024.” To be eligible for Help to Grow: Management at LCBS, participants must have decision-making responsibilities and at least one direct report in a UK-based business with between 5 and 249 employees that has been operational for at least a year. Help to Grow: Management also offers participants an important space to reflect on the bigger picture with their business by devising a tailored Growth Action Plan, supported by a carefully matched mentor. 2023 participant Leanne Martin, director of Tenders UK, says: “The focus is on what’s practical, workable and useable for your business. With the help of my mentor, who was wonderful in supporting me to come up with a plan based on realistic expectations, I’m now thinking strategically about the business and where it’s going next. This means I’m now confidently leading the company with a clear vision and plan.” Nationally, 90% of participants reported improved leadership and management of their business after six months, with 80% stating employee engagement had improved in the same time period following Help to Grow: Management. “As a tried and tested provider of Help to Grow: Management we’re proud of our strong roots in vocational education and we’re looking forward to delivering more great results for businesses in our community this spring,” adds Dr Danny Buckley.
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