L.B. Foster makes duo of acquisitions
L.B. Foster Company, a solutions provider of products and services for the rail and infrastructure markets with offices in Nottingham, has acquired Skratch Enterprises Ltd., a Telford-based digital solutions specialty company, and Intelligent Video Ltd. (IV) of Leamington Spa.
L.B. Foster designs, develops, manufactures, and installs a range of mobile, wireless, and digital customer information signage systems for use in railway stations and airports. Skratch, an industry leader in digital system integration within the UK, brings advanced digital display technology and capabilities to L.B. Foster that can be leveraged in both the rail space and adjacent retail markets.
L.B. Foster has collaborated with Skratch on digital solutions for the retail sector in the past, including the first digital signage application using British Sign Language interpreters in ASDA superstores.
IV is a developer of surveillance, security, and safety solutions. They have provided sub-contracting services for L.B. Foster’s Remote Condition Monitoring (RCM) and Inform Visual Communications solutions. IV also provides L.B. Foster with enhanced technical resources to assist in a variety of existing and developing solutions for the company.
John Kasel, president and Chief Executive Officer of L.B. Foster Company, said: “These acquisitions fit neatly into the growth strategy L.B. Foster announced in 2021. The accomplished team at Skratch delivers new learning, expertise, and experience that complements existing L.B. Foster growth businesses, and enables access to wider target markets in the UK and Europe. IV provides unique expertise and capabilities that help enable our aspiration to grow our technology-focused solutions offering.”
Skratch and IV collectively employ 38 people at their Telford and Leamington Spa offices. Both Skratch and IV will operate as standalone subsidiaries within the L.B. Foster group of companies.
Nottingham energy storage startup raises £3.5m
Cheesecake Energy Ltd (CEL), a Nottingham-based energy storage startup, has raised £3.5 million in pre-series A funding.
The round was led by BGF with support from Perivoli Innovations and private investors including former Jaguar chair, Sir John Egan.
The funds will be used to grow the CEL team, begin pilot deployments of the company’s technology, and build partnerships with potential manufacturing and distribution partners around the world.
The company’s unique eTanker technology stores electricity in the form of heat and compressed air. To store the energy, electric motors are used to drive compressors, which deliver high pressure air & heat into storage units. When the electricity is required, the high-pressure air and heat is passed back through the same compressor, now working as an expander, which turns a generator to produce electricity.
With its simple raw materials and longer life, the eTanker will displace lithium-ion batteries in a wide range of static applications, from industry and agriculture to transport and renewable generation.
“Compared with battery alternatives, our eTanker solution is lower cost and much more sustainable, with no rare or toxic materials and with a design that can be fully recycled at the end of its 20-year plus life,” said CEL co-founder and CCO, Mike Simpson. “Our system stores much of the energy as heat in inert rock in a way that is passively safe, avoiding the fire risk faced by some battery technologies.”
Employing circular economy principles, CEL converts truck engines into zero-emission electrical power-conversion machines for putting energy into and out of storage. Its technology brings together the low cost of thermal storage with the long life and robustness of a mechanical system, all in a modular containerised package.
Commenting on the funding, CEL CEO Paul Harris said: “We are pleased to have completed this funding round, which will enable us to accelerate the development of our technology, to deploy pilot projects and bring our novel, sustainable energy storage to market. We are looking forward to working with our visionary investor, BGF, and are grateful for the continued support from our existing investors led by Perivoli Innovations.”
Since 2011, BGF has backed a range of early-stage and growth businesses involved in the field of Climate Tech, everything from fuel cells to sustainable battery solutions and energy-efficient buildings. The CEL funding round takes the total amount invested by BGF in this field to £230 million.
Dennis Atkinson, investor at BGF, said: “We see huge potential for CEL’s technology and expect it to be a global leader in the energy transition from its base in the Midlands. The UK is a hotbed of innovation in this space, and it is vital that the investment ecosystem is supporting entrepreneurs and innovators to drive growth and development across key areas in the fight against climate change. We share the ambition and mission of the CEL team and look forward to helping them achieve it.”
Seb Saywood, Nottingham investor at BGF, added: “The Nottingham office is delighted to have been able to draw on our Early Stage Team’s expertise to invest in CEL’s game changing technology. This investment quickly follows another very successful exit in the sale of Jola Cloud Solutions to Wireless Logic. Year to date, we have already invested £33.5m in the East Midlands as we continue to build our momentum.”
Bhayani Law and Lync HR join forces
East Midlands firm Bhayani Law, a provider of HR solutions, has merged with Lync HR to strengthen its offering.
The combined business will provide a host of additional services including recruitment, HR, employment law, HR software, Health & Safety training, and coaching.
Bhayani Law was established by Jay Bhayani in 2014 and in 2021 sister company Bhayani Recruitment was born.
The firm has offices in Leicester, Sheffield, Barnsley, Leeds and London.
Jay said at such an important and challenging time for business with candidate and skills shortages, the merger has come at the right time: “Combining services from both businesses will provide a compelling offering for our clients and give us scope to deliver our work into further northern areas such as Doncaster and North Yorkshire where Lyn has strong links.
“We are very excited about our first merger here at Bhayani Law which fits in nicely with our expansion plans. Having known Lyn for many years I know that her approach is aligned with my own, of not forgetting the ‘human aspect of human resource’.”
Lync HR is an established employment and human resource consultancy service founded by Lyn Easton in 2002.
Lyn has 20 years’ experience working within HR. Her experience is from a wide generalist background with specific expertise in Employee Relations, Effective Communication, Understanding Behaviour and Health & Wellbeing.
A focus has been to establish a facilitated learning approach on all aspects of people management, from HR administrators to Senior Management teams, in order to interpret and translate employment legislation in the real world to real organisations.
Lyn Easton said: “Knowing Jay for some years, meeting all her team and understanding how our ethos and values in business work well together our merger is a good fit.
“I want to continue to offer to Lync HR clients the same practical down to earth, professional approach with the extra bonus that some other business needs can be covered all in one place – legal, recruitment, Health & Safety & Training.
“I am thrilled to merge Lync HR with Bhayani Law. I have known and cherished working with Lync HR clients and feel that my ‘Erin Brockovich’ approach (watch the film!) to HR will be replicated.”
Purpose Media win Royal Crown Derby appointment
Derbyshire-based full service marketing agency, Purpose Media has been appointed by Royal Crown Derby to help the company expand globally and develop its digital marketing and online presence.
The company, which has been manufacturing in Derby since 1750, has grown to become an international brand, exporting fine bone china tableware and home accessories to over 50 countries worldwide.
Building upon its reputation for supplying every UK monarch since King George III, the exquisite designs for which Royal Crown Derby is renowned are now part of the exclusive dining experience enjoyed by the clientele of Michelin star restaurants, used by the world’s top hotels, on board luxury yachts and privately owned jets, and within the personal residences of high net worth individuals.
Commenting on the appointment, Melissa Oakes, Royal Crown Derby marketing manager, said: “Our main objective for appointing Purpose Media was to partner with an agency who we could trust to build upon our long term objectives. The team took the time to understand our vision and showed a real willingness to support us across all omni channel marketing requirements.
“We also looked to partner with a local business and by appointing an agency that is on our doorstep it means they can easily visit our factory and get fully immersed in helping us achieve our vision.”
The new appointment will kick start with a project to launch a new website and initiate a digital marketing campaign using tools such as search engine optimisation, email marketing, and social media to attract trade and retail sales globally.
Matt Bonser, account director from Purpose Media, added: “Royal Crown Derby already has a strong brand identity with a rich heritage. Our aim is to ensure their proposition is fully understood by all its global audiences so that the company can expand geographically and increase its sales on a worldwide basis.”
Royal Crown Derby has been a family owned business since Kevin Oakes acquired the company in 2016. It is the last ‘prestige’ tableware brand to make all products exclusively in the UK in Derby. Appointing Purpose Media is part its ambition to ensure its tableware and latest creations are readily available to discerning buyers across the world.
Purpose Media is an award winning, DRUM recommended full service marketing agency based in South Normanton on the Nottinghamshire & Derbyshire border. Clients include owner managed businesses and leading brands in retail, manufacturing, wholesaling and sport.
Leicestershire search marketing agency acquires Hemel Hempstead-based firm
Leicestershire-based search marketing agency Assisted has acquired My Mustard, a Hemel Hempstead-based agency that specialises in search and social media services.
Since the company was launched back in 2016, Assisted have been helping businesses throughout the UK achieve their digital marketing goals and boost their visibility online. In 2020, Assisted acquired Leamington Spa-based web design agency Auburn Creative in order to expand their offering and this latest acquisition of My Mustard aims to complement this further.
My Mustard was founded back in 2007 by June Cory who is now handing over the reins to Assisted founder Nick Rinylo. My Mustard have spent the last 15 years providing results for their customers across Social Media and Pay Per Click (PPC) campaigns.
June Cory says: “I started My Mustard with a simple plan; work hard, play hard, build a great team, grow a great network, work with great clients and deliver great results. Fifteen years on it’s time for the next chapter and I am confident that MM will go from strength to strength under Nick’s management.”
Nick Rinylo says: “The whole team are all really excited about this growth within the Assisted brand. When I came across My Mustard, it just felt right and I believe they will be a fantastic fit for us. My Mustard’s excellent reputation, team of experts and loyal customer base made for a perfect fit. Founded in 2007, for years the team have refined their Google Ads and Social advertising capabilities, complimenting and balancing our existing service offering for our customers. Let’s see what the future holds!”
Assisted, Auburn and My Mustard all retain their brand independence but operate as a single organisation both commercially and operationally.
Bid for £20m investment in Eastwood submitted
A bid for a £20m boost to Eastwood has been submitted to Government, as part of the Levelling Up Fund.
“It’s great to see such a strong bid going in for Eastwood. For too long Eastwood has been neglected, this money would be a game changer,” said Lee Anderson, MP for Ashfield, which also covers part of Broxtowe, including Eastwood.
“It has been many years since Eastwood has seen any real investment and local people deserve to have better facilities and opportunities at their doorstep.
“I’m incredibly proud of the bid we are submitting to Government and the collaboration work that has gone into this bid which if successful, will make a real difference to residents not just in Eastwood, but the whole of Broxtowe,” added leader of Broxtowe Borough Council, Milan Radulovic MBE.
If successful, the funding would deliver projects including:
D.H. Lawrence Library, Health and Life Chances Centre
- A new health and wellbeing hub in the heart of the town centre that will house a new GP surgery, pharmacy, library, 5-lane community swimming pool, boxing club and women’s services.
- Better health facilities are needed in Eastwood and this new Centre will provide brand new, modern facilities for residents of Eastwood as well as brand new leisure facilities for residents to enjoy.
- Transformation of an important historic building in Eastwood into a low-carbon, energy-efficient community hub. Services will be overseen by the Durban House Community Hub group, which is a registered charity.
- Funding will enable the structural changes needed to allow these services to run from Durban House. This will involve making the building more environmentally-friendly through insulation and a new heating system, and redesigning some of the rooms and corridors in the building to make it more user friendly.
- One of the main services that will be offered is a dementia day care facility.
- Other services will include a healthy eating café, community garden, employability support, mental health support groups, and health and fitness classes.
- The cycle path project would create a network of active travel routes around and through Eastwood. In particular, the routes will connect the town centre to key large employment sites in the area to enable environmentally-friendly methods of commuting.
- It will also connect Eastwood to other important places, such as employment sites including Giltbrook Shopping Park and Panattoni Park, as well as Kimberley and onwards routes into Derbyshire.
- These routes would allow more people to cycle and walk to commute to work and for leisure purposes and would encourage more visitors to the area.
- It would also support reducing carbon emissions and healthier lifestyle choices.
Record revenues and return to profit for Van Elle
Van Elle, the ground engineering contractor, has hailed record revenues and a return to profit “following a strong recovery driven by high levels of activity across all divisions.”
According to results for the year ended 30 April 2022 (FY2022), revenue reached £124.9m, up from £84.4 for the year prior.
Meanwhile the Nottinghamshire-based firm posted a pre-tax profit of £3.6m, up from a £1.4m loss.
The news comes after record activity levels and following strategic targeting of structurally growing end markets.
The company reported significant growth across all divisions, notably in higher margin Specialist Piling, Rail and Ground Engineering Services.
Van Elle noted that trading momentum has continued into FY2023 with all divisions operating at high activity levels.
Mark Cutler, Chief Executive, said: “These results are the first to reflect a full year’s trading post COVID and demonstrate the positive progress the group is making under its transformation strategy launched in 2019.
“Although the sector continues to face several wider challenges, we have significant opportunities ahead to further improve, and momentum has continued into the new financial year. Overall, it is pleasing to see the actions taken over the last three years starting to deliver sustainable results that put us firmly on-track to deliver our medium-term objectives.
“My sincere thanks to our employees, suppliers and customers for their hard work and support over the last year.”
Rolls-Royce’s €1.8bn sale of ITP Aero approved
The Spanish government has approved Rolls-Royce’s sale of ITP Aero to a consortium of investors led by Bain Capital Private Equity.
It follows the approval of all other relevant regulatory authorities.
The completion of the transaction, at an enterprise value of approximately €1.8 billion, is now expected in the coming weeks.
Rolls-Royce said in a statement: “This sale, which was announced on 27 September 2021, completes our disposal programme announced on 27 August 2020, to raise proceeds of at least £2.0 billion. Upon completion, sale proceeds (excluding any cash retained by Rolls-Royce) of approximately €1.7 billion will be used to help rebuild the Rolls-Royce balance sheet, in support of our ambition to return to an investment grade credit profile in the medium term.”
ITP Aero will remain a key strategic supplier and partner for Rolls-Royce across both Civil Aerospace and Defence programmes.
Duo of businesses move into St. Modwen Park at Stanton Cross, Wellingborough
Two growing businesses – bespoke freight company Transglobal and paper merchant Premier Paper – have moved into St. Modwen Park at Stanton Cross, Wellingborough, bringing much needed local investment and jobs.
Stanton Cross is a flagship mixed-use development district for Northamptonshire which is gaining more than £1 billion of investment in Wellingborough by Stanton Cross Developments LLP.
Once finished it will feature 1.5 million sq ft of high-specification industrial, logistics, leisure, retail and office space, in addition to opening up access to modern transport links and infrastructure. Furthermore, it will provide 3,650 new homes along with community facilities – offering a large local workforce for businesses looking to operate in or relocate to the area.
St. Modwen Park at Stanton Cross, Wellingborough offers 314,500 sq ft of sustainable warehouse space, initially comprising three buildings – 96,000 sq ft, 43,500 sq ft and the development of a further 175,000 sq ft speculative unit, which will start in Q3 2022. The initial phase has been delivered by principal building contractor, MCS Group.
Future developments of 600,000 sq ft across three parcels of land will offer additional logistics space for the area.
Keir Edmonds, group Managing Director of MCS Group, said: “We are very proud of this project. We have delivered two very high-quality warehouse units on time for St. Modwen, according to the 39-week programme, at this impressive development at Stanton Cross. As a result, we have a very happy client and two tenants who are now able to commence the fit-out process right on schedule.”
Transglobal signed an agreement for the 96,000 sq ft building, which is a multi-use warehouse used to provide freight solutions by land, sea and air. The move will aid its rapid business growth and accommodate its customers’ evolving needs.
The 43,500 sq ft building has been let to wholesale paper and materials supplier Premier Paper. The unit will allow the company to expand into a larger warehouse space, following the diversification of the business. It will also facilitate its growth, and continue providing stocks of paper, print substrates and packaging to customers across the UK.
The completed buildings, at St. Modwen Park at Stanton Cross, Wellingborough, come with sustainability benefits including features such as PV solar panels, electric vehicle (EV) charging points and will deliver BREEAM Very Good and EPC A accreditations. Infrastructure has been installed to accommodate up to 20% of the parking spaces, which will be served by EV chargers.
Polly Troughton, Managing Director at St. Modwen Logistics, said: “St. Modwen Park at Stanton Cross, Wellingborough, is set to become a thriving commercial hub and we’re delighted to have created the space to accommodate the needs of Transglobal and Premier Paper and offering larger warehouse space which will enable them to continue to grow and succeed.
“The park is set to deliver new job opportunities and provide sustainable warehouse space for rapidly expanded businesses such as these. We welcome them to Wellingborough, which will help to support the town’s wider regeneration.”
Stephen Knight, Managing Director at Transglobal, said: “Moving into this additional facility at Wellingborough will not only support our business growth and expansion, but also help us to accommodate the growth of our clients.”
David Jones, group marketing director at Premier Paper Group, said: “We’re pleased to have signed a deal with St. Modwen Logistics. This new high quality and flexible warehouse facility becomes our latest ‘flagship’ branch which will support our future growth further cementing our position as being one of the most successful businesses of our type in Europe.”
University of Nottingham’s aerospace programme commits £3.8 million to SMEs
The University of Nottingham has awarded more than £3.8m in funding as part of its Aerospace Unlocking Potential (UP) programme, after announcing another round of funding for four Midlands-based businesses.
Designed to help smaller companies develop new technologies and solutions to make aviation greener, Aerospace UP, a £20 million programme, is being delivered by the University of Nottingham and the Midlands Aerospace Alliance (MAA), supported by the European Regional Development Fund and Midlands Engine.
The programme not only provides funding for projects but also offers small- and medium-sized enterprises (SMEs) with unique access to industry experts, academic support, and facilities that might otherwise have been unattainable.
Professor Pat Wheeler, head of Power Electronics in the Faculty of Engineering at the University of Nottingham, said: “We are very excited to open the university up to businesses at this critical time where the industry has been affected by three waves of disruption – Brexit, Covid and climate change.
“With Aerospace UP, we have created a new and accessible way to offer innovation support to companies throughout the supply chain, who historically would not access the facilities and extensive range of expertise at the university. This is a pivotal time for the industry, and we hope that we can make a difference to the future prosperity of the sector, the region and the country through this initiative.”
Skyfarer, Assemtron, KITAU Robotics and Holscot Fluoropolymers now join more than 200 other companies from across the region that have benefited from the scheme, which is due to run until summer 2023.
Between them, the innovative companies represent the diversity of the broader aerospace industry, with the chosen projects working towards simplifying sensor data processing to make companies more efficient, saving lives by making drones accessible in remote communities, automating airport cleaning, and enabling satellites to be refilled in orbit.
Andrew Mair, Chief Executive of the Midlands Aerospace Alliance, said: “We are delighted to be working in partnership with the University of Nottingham to deliver Aerospace UP support to Midlands SMEs. The university undertakes world-class aerospace R&D, and for small companies to be able to access that knowledge within the programme is a major boost to our aerospace cluster.”
