Nine deals in nine months for BDO as East Midlands market remains robust
Accountancy and business advisory firm, BDO LLP, has advised on nine deals in the first three quarters of the year, with a combined deal value of nearly £900 million.
The BDO deal advisory team has advised on a number of high-profile deals in the last nine months, working alongside a host of local intermediaries, including regional lawyers, private equity houses and banks.
Regional deals include: providing M&A sell-side and tax advice on the sale of Chesterfield-based Utopia Tableware to Steelite International; providing buy-side financial and tax due diligence to Derbyshire-based Clinigen Group on its acquisition of Kinesys Consulting; advising on the divestment of the retail arm of Kennelpak in Nottingham; advising LDC Private Equity on its investment in Mansfield-based Integrated Doorset Solutions and Fire Door Inspection Solutions, providing commercial due diligence and M&A advice; as well as providing financial and tax due diligence services, modelling services, and forensic M&S services in relation to Joe Jennings Bookmakers’ acquisition of Mark Jarvis bookmakers.
Vinod Patel, Transactions Services partner at BDO in the East Midlands, said: “The first three quarters of 2024 have demonstrated a real appetite in the region for getting high quality deals over the line.
“Although persistent challenges still remain, the local market has been and remains extremely active. The trend of exciting and dynamic businesses attracting significant private equity funding, as well as international investment, is a real feature, while regional businesses continue to execute ambitious growth plans through strategic M&A.
“As we approach the first Autumn Budget under a new Labour Government, much will be made about how this will impact M&A appetite.”
Ben Dawson, M&A Director at BDO in the East Midlands, added: “The East Midlands is blessed with a diversified economy, and a plethora of ambitious, entrepreneurial business leaders who continue to drive M&A activity.
“The deals we have acted on in 2024 to date demonstrate the breadth of BDO’s Deals Advisory service offering, which we continue to invest in, in order to support businesses in the East Midlands to achieve their growth ambitions.”
The Access Group doubles size of Romanian centre creating 654 new jobs
The Access Group, a provider of business management software to mid-market organisations and headquartered in Loughborough, has created 654 new roles at its Global Operations (GO) Centre in Timişoara, Romania, in the first 18 months of operation.
The Romanian office which opened in May 2023, has scaled operations and grown by 145%, increasing from 452 employees to 1,106. The 654 new roles have been created across multiple departments, including employee success, marketing, sales, products and engineering, customer success and customer experience, support and finance.
Commenting on the growth, Radu Giju, managing director at The Access Group in Romania, said: “The success of the GO Centre after just a year and a half is incredible, and our growing teams reflect the skills and potential of the local talent pool here in Romania.
“We embrace sustainability at every level, which guides our operations and drives long-term growth by ensuring we meet the needs of our customers, stakeholders, and local communities while protecting the planet for future generations.”
Supporting education and developing local skills is a priority for Access. During the last 18 months, it has forged relationships with the Polytechnic University of Timişoara and the West University of Timişoara, helping students with digital skills and career development.
Access has also established a Digital Academy in Timişoara. The Early Careers team supports 32 graduates in Romania, including 23 graduate software engineers and nine graduate QA Engineers.
Alongside job creation, Access supports local community organisations. The Access Foundation has awarded 9 grants in the region, totalling £89,327 to help fund community and environmental initiatives.
These include projects with Asociatia Scoala Mamei Junior, Little John’s House Marius and Friends Association, West University of Timişoara, United Way Romania, Asociatia Sinaptica Mehedinti, Asociatia Minunilor (Miracles Association) and Asociatia Impreuna pentru Luptatoarea Maria-2021.
Access has also partnered with environmental delivery partner Eco Club Timişoara, which supports the Group’s ESG goal to preserve and safeguard the local environment in locations where it has a significant presence.
The Access Group colleagues in Timişoara planted 1,000 trees, known as The Access Forest marking the 1,000-employee milestone in the area. In September 2024, over 70 colleagues gathered to take part in an Access clean-up along the Bega River, in the Friedorf neighbourhood of Timisoara.
Access Timişoara’s GO Centre has nominated United Way Romania, an organisation which helps children who have a high risk of dropping out of school, as the charity of the year and aims to raise 100.000RON [TO1] to help provide learning resources, non-formal educational activities and daily meals. The funds will also go towards offering advice to parents and families and training for teachers.
Radu Giju concluded: “We are proud of the strong connections and partnerships we have made with local organisations and communities and look forward to continuing to make a positive impact in the area. We are excited for the coming years and hope to see this level of growth continue while welcoming more people into our Timişoara team.”
UK economy returns to growth
Following a stagnant July, the UK economy showed growth in August.
According to new figures from the Office for National Statistics (ONS), GDP (gross domestic product), a key measure of economy growth, grew 0.2% month-on-month in August, in line with expectations.
It reflects growth across all three key sectors, as services output increased 0.1% month-on-month, construction output rose 0.4% month-on-month, and production output grew 0.5% month-on-month.
Ben Jones, Lead Economist, CBI, said: “There are some encouraging signs in the latest GDP data, particularly the ongoing recovery in retail, but growth remains uneven across sectors and momentum in the economy is a little weaker than was expected a few months ago.
“Our surveys suggest that businesses may have tapped the brakes again in September amid speculation over potential Budget announcements.
“Anecdotally it’s clear that some firms have paused hiring and investment decisions pending more clarity over the direction of the new government’s economic policies.
“With the Chancellor’s first Budget only weeks away, the government has an opportunity to build momentum behind the economic recovery by demonstrating it has a credible plan for boosting the country’s growth trajectory.
“This should include measures to support productivity and business investment, such as adding flexibility to Apprenticeship Levy funded courses and outlining an ambitious Net Zero Investment Plan that includes green tax incentives.
“It must also make the UK’s business environment more attractive to firms at home and abroad by providing them with certainty and clarity via a Business Tax Roadmap.”
Council submits plans for new depot
Ashfield District Council has lodged plans for a new depot to improve service delivery.
Michael Cummins Employment Solicitors welcomes new senior associate
Specialist law firm Michael Cummins Employment Solicitors has welcomed Katie Baker-Clifton as its new senior associate.
The solicitor has joined the Leicestershire-based legal firm which provides employers with advice and representation on all aspects of employment law.
A qualified solicitor since 2010, Katie previously worked at the Black Country commercial law firm Enoch Evans. The Staffordshire University graduate has a long track record in providing tailored, strategic and pragmatic legal solutions to businesses and individuals.
Her work has encompassed addressing employment grievances, navigating complex exit strategies and representing at Employment Tribunal proceedings, for a diverse client base including multi-nationals, HR teams, owner-managers and independent consultants.
Katie has joined the now six-strong team at Michael Cummins Employment Solicitors, which includes partner Fabienne McAllister and was founded by its director Michael Cummins in 2022.
Michael said: “Katie’s breadth and depth of experience in employment law is an incredibly good fit for the client-focused, pragmatic and commercially savvy services we provide.
“We are very excited that Katie has joined us, as she has both a very sound legal mind and an open and proactive approach to working with the client to achieve optimal outcomes.”
Katie, who is also a qualified Swim England coach as part of her volunteering, said: “I’m very excited to have joined what is a specialist employment law firm with an outstanding reputation. They are also lovely people, which was apparent from the first moments of meeting them.
“I’m looking forward to being part of a bigger team purely focussed on a field of legal services that I have specialised in for 14 years. It is going to be fulfilling to work with a team where I can contribute whilst also learning from their vast experience.”
Willmott Dixon appointed to build £16.8m car park at Royal Derby Hospital
Willmott Dixon has been appointed by developers noviniti to build a new £16.8m multi-storey car park at Royal Derby Hospital to provide an additional 500 spaces.
The car park will be spread over five storeys and replace the current surface level car park. Completion is expected in summer 2025 and it will be open to visitors and patients to help resolve parking and congestion problems on the site.
Ahead of main works starting on the new car park, Willmott Dixon has also created a temporary car park on a site near the hospital with a park-and-ride system in operation.
Nick Heath, director at Willmott Dixon, said: “We’re pleased to be delivering this infrastructure improvement at Royal Derby Hospital for University Hospitals of Derby and Burton NHS Foundation Trust.
“We look forward to delivering a project that will help to improve visitor and patient experience when visiting the hospital by significantly increasing parking provision. It will also provide additional facilities, including electric vehicle charging points.”
Jonathan Houlston, CEO at noviniti, said: “It is a great pleasure for noviniti to have been appointed as developer by United Hospitals of Derby and Burton NHS Foundation Trust to deliver the new 5-storey Multi-Storey Car Park at Royal Derby Hospital.
“Working in partnership with Willmott Dixon, this much needed facility will greatly ease on-site traffic congestion and positively contribute to the patient and visitor experience.”
Games Workshop makes chair appointment
Games Workshop has appointed Mark Lam as non-executive chair of the company. Mark has been an independent non-executive director of the Nottingham company and the senior independent director since 2023.
Mark takes over from John Brewis. John did not intend to stand for re-election at next year’s AGM and had therefore asked the Nomination Committee to commence a search for the next non-executive chair.
John Brewis will be retiring from the role of non-executive chair of Games Workshop with effect from 1 November 2024, and from the Board of Games Workshop with effect from 31 December 2024.
Mark is an experienced board chair and director, whose commercial experience spans both start-up businesses and listed companies.
Mark is Singaporean and his international experience includes supply chains and business operations in the Asia-Pacific, North America, and Europe.
He has held senior positions in retail, telecommunications, and healthcare, including as chief technology officer of Openreach. Mark is currently chair of the Royal Free London hospital group and a non-executive director at Lowland Investment Company PLC.
Summit to spotlight ‘once-in-a-generation’ transformations of Chesterfield high streets
Business owners are invited to explore how Chesterfield’s ongoing regeneration is set to unlock significant investment opportunities in the coming years.
The Chesterfield Investment Summit will take place on Wednesday, 6 November 2024, at Casa Hotel, offering an extensive update on various projects that will dramatically modernise and revitalise the town’s high streets.
Claire Ward, Mayor of the East Midlands Combined County Authority, will address the summit, sharing her vision and priorities for driving investment in Chesterfield and the broader region.
Mayor Claire said: “The regeneration of Chesterfield’s high streets is a key milestone in the broader strategy to breathe new life into our towns across the East Midlands.
“By modernising and enhancing these vital spaces, we are not only improving the everyday experience for residents and businesses, but also attracting significant investment that will create new jobs and opportunities.”
Organised by Destination Chesterfield and supported by We Are Spaces, East Midlands Chamber and Markham Vale, the event will showcase transformative works in Chesterfield Town Centre.
Dr Huw Bowen, Chief Executive Officer at Chesterfield Borough Council, will provide updates on several key initiatives, including Revitalising the Heart of Chesterfield. The project promises over £10 million in enhancements aimed at improving the town centre’s appearance, functionality, and flow.
Ojay McDonald, Chief Executive of the Association of Town & City Management, will discuss the evolving role of high streets and the need for adaptation to future demands.
Attendees will also hear from Amy Revell, Co-Founder of We Are Spaces. Amy’s company is currently carrying out the extensive refurbishment of a Grade II listed building in Chesterfield’s retail core.
She will be joined by Ivan Fomin, Chair of the Staveley Town Deal Board, who will provide insights into the £6 million regeneration and revitalisation efforts underway in Staveley’s town centre.
Cllr Tricia Gilby, Leader of Chesterfield Borough Council and Vice-Chair of Destination Chesterfield, added: “The Investment Summit is a fantastic opportunity to spread the word about all the incredible things happening in Chesterfield.
“With the multi-million pound regeneration projects currently underway in Chesterfield and about to begin in Staveley, this is the time to look ahead to the future of high streets and talk about how the interventions we are making will help ensure they can continue to thrive and provide a full range of leisure, retail and cultural experiences.
“I look forward to welcoming local businesses and investors to the summit and discussing with them how they can play a key role in Chesterfield’s future.”
Light industrial investment sold in Ilkeston
NG Chartered Surveyors have completed the investment sale of a prime light industrial unit in Ilkeston, Derbyshire.
Acting on behalf of her landlord client, Craig Scholter of CBS Couriers, NG surveyor Alicia Lewis brokered a rare investment deal at Unit 1A, Shipley Court on the Manners Industrial Estate.
The 2,853 sq ft unit is let to Barnfind Detailing, a company which offers safe washes, valeting, monthly maintenance and paint enhancements and corrections.
Alicia said: “Unit 1A, Shipley Court was always going to be popular. It’s located on a well-recognised, popular industrial estate.
“The property is centrally located to various main thoroughfares such as the A6096, A52 and Junctions 26 and 25 of the M1 Motorway, providing access to neighbouring towns. Nottingham is located eight miles away and Derby ten miles – it couldn’t be more ideally situated.
“This deal only took just over ten weeks to finalise with all parties working hard to get it over the line.
“It’s been a pleasure to represent Craig on this deal – and we wish the new owner and their tenant all the very best for the future.”
Work starts at £75m Friar Gate Goods Yard in Derby City Centre
Wavensmere Homes has commenced work on site to redevelop Friar Gate Goods Yard in Derby city centre. The nationally significant £75m mixed-use project will reanimate two landmark Grade II listed buildings into over 110,000 sq ft of commercial space, alongside 276 new build homes.
Site enabling works across the 11.5-acre (4.96Ha) site are underway, with the groundworks commencing in November 2024. The first phase will incorporate the formation of a new spine road through the site and remediation works to the two listed buildings.
Simultaneously, construction of the first residential phase will take place. This comprises 63 terraced houses, which will be available for occupation before the end of 2026. The full redevelopment, restoration and construction programme is anticipated to complete by the end of 2028.
A painstaking restoration of the 19th Century Bonded Warehouse and Engine House will deliver a total of 111,275 sq ft of flexible offices, health and fitness space, a restaurant/café, together with a regional sales centre for Birmingham-headquartered Wavensmere Homes.
Extensive new areas of open space, including play areas and pocket parks will also be created, in addition to the retention of the TPO tree buffer, to enhance the biodiversity of the site.
The elevated area adjacent to Friar Gate Bridge will become a new multi-purpose public realm and community space, with retention of some of the original railway arch facades.
New vehicular, pedestrian and cycle access will be created at various points around the site, from Uttoxeter New Road, Great Northern Way, and Friar Gate, with the Mick Mack cycling route also to be extended.
Catherine Atkinson, MP for Derby North, said: “After over 50 years of sitting vacant, it was brilliant to visit Friar Gate Goods Yard and see the work underway to bring this local landmark back to life. This redevelopment will restore a piece of Derby’s history while creating jobs and giving a major boost to the local economy, now and in the future.”
Cllr Nadine Peatfield, Leader of Derby City Council, said: “I am thrilled that Wavensmere Homes has made a start on site so soon after receiving planning approval. The two fine terracotta listed buildings are such important historical assets for our city and we can now be assured of their future.
“I cannot wait to see the Bonded Warehouse preserved and brought back into use as the centrepiece for this £75m mixed-use development.”
Octopus Real Estate has provided a £24m loan to Wavensmere Homes to enable the comprehensive four-year programme of work to start without delay. Glancy Nicholls Architects and Pegasus Group worked collaboratively to produce the detailed plans for Friar Gate Goods Yard, which received planning approval earlier this year.
James Dickens, Managing Director of Wavensmere Homes, said: “The fine attention to detail and investment we will inject into the reanimation of Friar Gate Goods Yard will see it become a nationally important trophy asset in Derby’s ongoing renaissance.
“We constructed 125 family houses just across the city centre at Nightingale Quarter, but there was such intense demand, we could have sold them four times over. The 227 houses at Friar Gate Goods Yard will provide much-needed choice in the market and be the most energy-efficient in the city, so there is already significant pent-up demand.
“The first opportunity to reserve a home here will be in 2025, but we are collecting people’s details on our website. We’re very pleased to see the amount of early interest from people who’ve bought from us previously, including residents living at Nightingale Quarter.”
The designs for the 227 two- and three-bedroom townhouses that will surround the two listed buildings are bespoke. Curved and terraced street scenes will honour the beauty and vista of the Bonded Warehouse, while incorporating a range of energy saving technologies and strategies.
A four-storey apartment building containing 49 apartments will also reinstate the lost streetscape of the Stafford Street frontage. The highest EPC rating of A is being targeted for the new houses, with all plots designed to be future-proofed ahead of the 2025 Future Homes Standard.
Claire Ward, Mayor of the East Midlands, said: “I am delighted that work has commenced at Friar Gate Goods Yard. This vast historic landmark has lain derelict in the centre of Derby for over 50 years.
“Wavensmere’s redevelopment plans will have a transformational impact on the city’s landscape and image, while also providing a significant boost to the jobs market and local economy.”
The site sits just outside the Friar Gate Conservation Area, which features notable Georgian townhouses with high-quality brickwork and fine architectural detailing. The Friar Gate Goods Yard was intended as the main goods depot for the Great Northern Railway line, to handle coal, livestock, timber, and metals.
Designed in 1870, and entering operation in 1878, the Bonded Warehouse building contained extensive warehouse space and offices. It was used as a store for the American Army in WWII to house ammunition and other supplies.
The Engine House was also built for the Railway by Kirk & Randall of Sleaford. It is Italianate in style and built from Welsh slate. The Engine House supplied power to the hydraulic lifts and capstans at the Bonded Warehouse.
The site first became derelict in 1967, and over time became overgrown and fell into a poor state of repair. An arson attack took place at the Goods Yard in 2020, which exposed the whole inner iron structure of the two historic buildings.
The Goods Yard redevelopment will promote sustainable development through the use of low carbon materials, modern methods of construction, and renewable energy generation.
