Derby-based ASG Group, an automotive aftermarket group, has been sold to Pendine Group, backed by Beach Equity Investors, in a deal managed by PKF Smith Cooper Corporate Finance.
ASG Group specialises in design, development, engineering and manufacturing of aftermarket vehicle accessories, which it supplies to global OEMs, trade customers and direct to the consumer under its brand Travall.
In addition to the B2C customer base, the Group continues to attract major clients from the automotive and industrial sector.
ASG’s trading roots go back to the 1950s when it was known as Alan Smith Garages. Retiring Chairman Peter Allman acquired Alan Smith Garages in 1987, renamed it ASG and began developing a comprehensive portfolio of automotive accessories, culminating in the business that appealed to Pendine.
The deal followed a decision by principal shareholders, who are now in their mid-80s, to secure their retirement plans and crystalise their investment in the Group.
PKF Smith Cooper Corporate Finance was appointed to provide pre-sale strategic advice on preparing the business for sale, identify buyers and project-manage the deal from inception to completion.
The sell-side advisory team was led by David Crump, Corporate Finance Director at PKF Smith Cooper, while Geldards provided legal advice.
David Crump said: “It’s been a privilege to work with the Allman family, and very rewarding to complete this transaction to help them achieve their objectives. We have also enjoyed working with Tom and the Beach Equity team to deliver a great deal for both the buyer and sellers and we look forward to seeing the ASG Group flourish under new ownership.”
Geldards Corporate Partner Debra Martin added: “Geldards were pleased to advise ASG Group on the sale of the business and provide guidance through this important next chapter in their journey which safeguards the growth of the Group for future years.”
Bruce Allman, who will continue in his role as ASG’s Managing Director, said: “Together with PKF Smith Cooper, we searched long and hard to find suitable new owners and believe we have made the correct decision to ensure stability and the continued success of the Group, as well as set it up for long term growth.
“I look forward to seeing ASG Group’s ongoing success as it continues to supply market-leading products to the automotive aftermarket with the same dedication to innovative engineering and high-quality British manufacturing as it always has.”
Tom Billings, Managing Partner of Beach Equity, said: “ASG will make a great addition to the Pendine Group. We would like to thank David and PKF for their support enabling a quick and efficient transaction.”
East Midlands manufacturers increased their output by over a fifth in the last decade
Manufacturers in the East Midlands have increased their output by over a fifth in the last decade, reinforcing the critical importance of the sector to the East Midlands economy overall, according to a new report out today.
The Make UK/BDO Annual Regional Manufacturing Outlook report shows that since 2013 output in the region has increased by 21%, while its importance to the region’s economy overall is highlighted by the fact it accounts for more than 15% of the region’s total output, significantly above the national average.
Over a quarter of a million people (258,000) are employed in highly skilled jobs, accounting for 10% of East Midlands employment overall, many of them in high value sectors such as Automotive, Aerospace and Precision Engineering.
Three major sectors account for almost half of East Midlands manufacturing production with the largest being Food and Drink with more than a fifth (20.6%) of industrial output. This is followed by Transport Equipment at 12.7% and then Rubber & Plastics at 12.1%.
In 2023 the East Midlands accounted for 7% of the UK’s total goods exports with the EU being the dominant destination (45%), but one of the lowest dependencies across the UK. This is followed by Asia & Oceania for more than a quarter of exports (28%), making the region the biggest exporter to this area of any UK region. The next most important export market is the United States (16%).
Commenting, Chris Corkan, Region Director for Make UK in the Midlands said: “Industry remains critical to the growth of the economy, providing high value, high skill jobs and aiding the process of creating wealth across the UK.
“The new Government has made a welcome bold statement of its intent to tackle the UK’s anaemic growth at national and regional level. It should now back this with a radical, cross government, long-term industrial strategy which has the need to tackle the UK’s skills crisis at its heart.
“This should be allied with the local growth strategies and priorities of each region, including infrastructure and innovation, together with other measures to ensure the UK is now fully open for business.”
Jonathan Lanes, Head of Manufacturing at BDO in the Midlands, added: “The manufacturing sector in the East Midlands has continued to grow over the last decade despite the sector facing multiple external shocks and changing policy priorities in recent years. Manufacturers have shown great resilience in overcoming these challenges.
“There is now an exciting opportunity for the sector to work with the new government on the development of a new long-term industrial strategy. This could unlock vital investment needed across the East Midlands to continue to bolster manufacturing output and skilled employment opportunities which is so important to the regional economy.”
Clowes Developments purchases 31-acre development site in Hucknall, Nottingham
Clowes Developments have purchased a 31-acre site at Harrier Park, Hucknall from Rolls-Royce via their development manager Muse.
The business park has been fully serviced by Muse and has the benefit of planning permission for circa 500,000 sq ft of warehouse/industrial space across six buildings.
The site is located just on the edge of Hucknall being within a 10-minute drive between junction 26 and 27 of the M1 Via the A611. East Midlands Airport, East Midlands Parkway Train Station and the cities of Derby and Nottingham are all accessible within a half an hour drive from the business park. Harrier Park sits outside the Nottingham workplace parking levy.
The site, aptly named Harrier Park, has a wealth of industrial history and a legacy of innovative engineering. The land was formerly used as an aerodrome associated with the development of the famous Rolls-Royce Merlin engine during World War II followed by the world’s first successful vertical take-off in the 1950’s with technology which in turn led to the Harrier ‘Jump Jet’ being developed. Hence the name, Harrier Park.
Sarah Day, Senior Land Manager at Clowes Developments, said: “There are a considerable number of off-market opportunities being presented to Clowes currently, we are running appraisals daily, occasionally we find a site that ticks all our boxes and Harrier Park certainly does that.
“The site has the potential to develop just over 500,000 sq ft of industrial use facilities in a prime location with great connections across the East Midlands. We look forward to working with the local planning authority, Ashfield District Council, to bring forward a business park which will enhance the economy and provide employment opportunities locally.”
Clowes Developments’ purchase of Harrier Park comes less than a week after the group shared the news that they purchased a 35-acre, mixed use site at Pleasley Hill in Mansfield.
James Richards, Development Director at Clowes Developments, will now look to firm up the site’s masterplan with their newly appointed design team. Fisher German represented Clowes on the purchase of the site and together with FHP Property Consultants have been appointed to market the site’s ‘design and build’ opportunities for occupiers to buy or rent premises at Harrier Park.
Work to begin to bring Ollerton Hall back to life as apartments
Newark and Sherwood District Council has confirmed that works are finally set to start at Ollerton Hall.
A set of keys was handed over last week to Severns (Ollerton) Limited who will soon begin work to sympathetically restore and transform the hall into 8 apartments.
The Grade II* listed hall is thought to be around 300 years old and has lain vacant for the past 50. A previous developer’s plans to develop the site into a care home never came to fruition and the site was re-acquired by the District Council in 2016 in order to seek a developer who would do justice to this important building.
An agreement was made with Severns in 2021 that they would formulate and submit respectful plans for the site, maintaining its historic character and architectural features. After being carefully prepared, these were met with unanimous acceptance by members of the District Council’s planning committee last year.
Councillor Paul Peacock, Leader of Newark and Sherwood District Council, said: “It was very important to us that plans for this beautiful place were respectful and protective.
“We’re really reassured that it’s now in the hands of people who have previous experience in doing fantastic work with heritage buildings and I’m looking forward to seeing the building brought back to life in a way that retains its integrity while bringing it up to date in terms of safety and practicality.”
Councillor Lee Brazier, Portfolio Holder for Housing at the District Council, said: “We know that this has been a long time coming and we’re really happy to finally be getting it over the line so that work can begin. As an Ollerton local, this building means a lot to me; it’s the gateway to the town and it’s been so upsetting for all of us to see it go unused.
“It really is wonderful news that this stunning building will be returned to some of its former glory and shown the care and deference it deserves and I know I share your excitement to see Ollerton Hall looking amazing again!”
A heritage consultant was brought in who outlined some important conservation work which will be carried out first and the District Council will retain ownership of the property until this initial work is complete.
This is expected to take around 5 months and the District Council will be appointing a Conservation Clerk of Works who will be conducting regular visits during this time to ensure that the work is being carried out to a satisfactory level.
Grants re-launched for rural North Northamptonshire businesses offering up to £50,000
Grants of £5,000 and £50,000 are now available for rural businesses across North Northamptonshire.
Using monies received from the Rural England Prosperity Fund, North Northamptonshire Council has re-launched a grant scheme to support existing rural businesses, with applications now open.
Following on from earlier rounds of the grant schemes, applications are now being accepted for projects that can start quickly and be delivered in full by 28 February 2025. A particular target for this round is rural diversification, including business diversification and projects which support the visitor economy.
Examples of projects supported in earlier rounds include:
- New Lodge Farm in Bulwick who extended their café and farm shop
- Austin Davis Biologics who have been able to move into a larger, refurbished facility in Islip
- Measures Farm in Hemington who developed a new dog field
- We Don’t Do Ordinary who invested in tourist accommodation at Wallis Mill, Brigstock
Students present plan to tackle growing issue of e-waste recycling at international entrepreneurship competition
Students from Nottingham Business School have pitched their idea to tackle the growing issue of electronic waste through recycling and recovering precious metals at a prestigious international entrepreneurship competition.
Five MSc Innovation Management & Entrepreneurship students – Luke Hailstone, Devansh Poddar, Eugene Oigara, Pierre Louis, and Ajinkya Khairnar – visited Nairobi, Kenya, to take part in The Hult Prize, which challenges young people to solve the world’s most pressing issues through social entrepreneurship.
Rapid technological advancements coupled with short lifespans of products has led to a growing problem of electronic waste.
According to the World Health Organisation, e-waste is the fastest growing solid waste stream in the world. In 2019, an estimated 53.6 million tonnes of e-waste were produced worldwide, but only 17.4% was recycled. With the remainder of waste sent to landfill or burned, e-waste can release lead into the environment and have an adverse impact on human health.
The NBS team, who hail from Kenya, India, France, and the UK, presented their Imagination Engineering business concept which uses ‘urban mining’ to address the issue.
The innovative method uses naturally occurring microorganisms to break down e-waste and recover precious metals like gold, silver, and copper, providing a sustainable and environmentally friendly alternative to traditional recycling methods.
Their pitch included the creation of a state-of-the-art bioleaching facility, equipped with advanced equipment, and managed by a team of experienced microbiologists and waste management experts. The facility is designed to offer comprehensive e-waste recycling services to businesses, governments, and individuals looking to dispose of their electronic devices responsibly.
To create a prototype, the group conducted research with e-waste recyclers and other stakeholders in the e-waste recycling industry to understand any challenges and receive feedback on usability, efficiency, and effectiveness in recovering valuable materials from e-waste. Their business plan, which also had to consider financial sustainability and potential barriers to taking the product to market, was improved and refined throughout the process.
The Hult Prize receives thousands of entries each year and only a selection are chosen to go through to summit events across the world, where ideas are pitched to a panel of esteemed judges, global business leaders, and thought leaders. While the Imagination Engineering team didn’t progress to the final, the group valued the experience and the opportunity to share their business plan.
Devansh Poddar, age 23, from Mumbai, said: “One of the biggest challenges we faced was aligning our scientific research with market needs and ensuring our solution was both technically feasible and commercially viable.
“I learned a great deal about project management and the importance of aligning technical solutions with market demands. This will be beneficial as we move forward with our careers and future projects.
“A standout moment for me was pitching to the judges and receiving recognition for our idea. It was a validation of our hard work and creativity, and it gave us the confidence to continue pursuing our vision.”
Luke Hailstone, 23, from London, added: “One of the most memorable moments for me was networking with other teams and learning about their innovative solutions. The exchange of ideas and the supportive community at the summit were truly inspiring.
“A significant challenge we faced was refining our pitch under time pressure and ensuring that our complex scientific concept was communicated clearly and effectively to a non-technical audience.
“This experience taught me the importance of adaptability and clear communication, which I believe will be invaluable in my future endeavours.”
Paul Wreaves, course leader for MSc Innovation Management and Entrepreneurship at NBS, said: “To reach the summit stages of The Hult Prize is a fantastic achievement, and the team received some very positive feedback.
“Their unique qualities, education, and professional backgrounds, combined with their shared vision and dedication, make them exceptionally well-suited to transform their venture into a reality and drive meaningful change in the e-waste management sector should they decide to pursue the idea.”
Barwood Capital acquires site in Lincoln in new strategy focused on self-storage sector
Barwood Capital has acquired its first site in Lincoln, as part of a new investment strategy focused on the growing self-storage sector which will see the company partner with self-storage specialist, Flexiss.
The acquisition was made through the Barwood Regional Property Growth Fund V. Barwood is partnering with Flexiss as an operator and development partner for the new strategy, helping to acquire vacant buildings to be transformed into modern, energy efficient self-storage assets.
Flexiss currently has c.£200m in assets under management, including new build development projects and conversion projects. The new facilities acquired in partnership with Barwood will trade through its SureStore brand.
This first acquisition centres on the Scott Storage Centre Facility, which sits within the Lincoln Westminster Industrial Estate and currently includes a purpose-built storage and removals operation, totalling 14,500 sq ft, plus 13,885 sq ft of external storage containers.
Barwood has acquired the freehold interest in this prime location and plans to repurpose the existing unit into a state-of-the-art self-storage facility with a full SureStore rebrand in early 2025. Once complete, the new store will incorporate 60,840 sq ft of space arranged over four floors, including 6,840 sq ft of external containers.
The plans target an EPC rating of A, with new features including a solar array, EV charging points and motion sensor activated energy-efficient LED lighting.
“The self-storage sector is currently under-served, with demand from both individuals and businesses, and our aim is to create a regionally focused portfolio of assets to support the sector’s growth,” said Edward Henson, Director, Head of Transactions at Barwood Capital.
“This first acquisition is a unique opportunity to create a high-quality facility, in an area where there’s an acute under-supply of self-storage accommodation. The facility will offer a cost-effective solution for domestic and business customers in the area and create direct employment opportunities.
“As with all our projects, environmental responsibility has been among the priorities; our stores will be run with the highest energy efficiencies, keeping our offering cost effective for our customers and our environmental impact to a minimum.”
Mike Wilson, CEO of Flexiss, said: “We are proud to be working in partnership with Barwood Capital on this project, which will be the first in a number of projects together. We are delighted to be able to offer our customers in Lincoln innovative, sustainable and convenient self-storage solutions.”
CBRE gave agency advice, with Napthens and Osborne Clarke giving legal advice on the purchase and structure.
Van Elle awarded project at former Boots site in Nottingham
Van Elle, the ground engineering contractor, has been awarded a scheme by Keepmoat at the former Boots site in Nottingham.
The scheme is worth up to £3m across several phases and is the largest single scheme awarded to its Housing division in the last 12 months.
This will be the 15th project over the last three years that Van Elle has delivered for Keepmoat.
This project will create a blueprint for a new strategic collaboration between Van Elle and M&J Evans; the groundworker in the housing sector, with a complementary, national capability. Under the agreement, Van Elle and M&J Evans will work closely together nationally on a customer-led basis to offer a more efficient, joined-up delivery model for housebuilders.
The news comes as Van Elle completes a capacity expansion project at the precast pile factory at its headquarters in Kirkby in Ashfield, Nottinghamshire. The expanded factory, which is capable of 24-hour manufacturing and utilises low carbon blended concrete mixes, sits alongside the Smartfoot precast beam factory.
This investment increases production capacity by over 30%, positioning the business well to benefit from the expected growing demand in the housing sector over the mid-term.
Chief Executive Officer, Mark Cutler said: “We are encouraged by the new Government’s commitment to accelerate the delivery of newbuild housing. We are ready to support incremental demand with our expanded capacity and breadth of expertise, including our precast modular Smartfoot foundation solution, which offers proven benefits compared to traditional methods.
“Although we anticipate housebuilding volumes to remain subdued in the immediate future, orders in Housing for the year to date are up 20% compared to last year. We believe the Company is well positioned to play a leading partner role with a range of blue-chip customers, with whom we enjoy high levels of repeat business.”
Great Central Railway Reunification project planning application submitted
The Great Central Railway has submitted its planning application to Charnwood Borough Council for the ambitious Reunification scheme.
The project will reconnect two separate heritage railways to create an eighteen-mile line stretching from the north of Leicester to the south of Nottingham, centered on Loughborough, bringing economic benefit and protecting jobs in the area’s service sector.
Three parts of the scheme have already been completed and millions of pounds raised. However, to build more of the scheme planning permission is required.
General Manager of the Great Central Railway, Malcolm Holmes said: “As always, we are hugely grateful and humbled by the generous donations we receive from around the world to advance the project. This next stage is crucial, so we’re now asking people to contact Charnwood Borough Council and support the planning application.”
Since showcasing new plans for the proposed railway link in April 2024, an additional £50,000 has been raised by supporters towards the next phase of work. Plans now need to be turned into engineering designs and specifications, which is likely to cost in the region of half a million pounds.
Malcolm continued: “Formally applying for planning consent is a huge milestone for this exciting project. It has required a lot of hard work and investment from our supporters and stakeholders. We’d like to thank everyone who has got behind Reunification and in particular our design consultants and advisers who have helped and guided us through this vital stage.”
The two sections of the line being reconnected were part of the original Great Central Railway which ran from Sheffield to London. It was closed in 1969 and 500 metres of railway was removed. The revived GCR in Leicestershire now welcomes hundreds of thousands of visitors and a sister operation in Nottinghamshire is a developing heritage attraction.
Display exceptional work at the East Midlands Bricks Awards 2024
A key event in the business calendar, highlighting the exceptional work of the region’s property and construction sector, the East Midlands Bricks Awards will return on Thursday 3rd October 2024, at the Trent Bridge Cricket Ground.
Nominations for the prestigious event are open, and now is the ideal time to make your submissions, ahead of the deadline – Thursday 5th September.
It’s an opportunity to showcase your projects and team, reward their hard work, bolster morale, and to promote your business and its successes amongst leaders in the industry.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Tickets can now be booked for the 2024 awards event, click here to secure yours.
Taking place in the Derek Randall Suite at the Trent Bridge Cricket Ground on Thursday 3rd October, from 4:30pm – 7:30pm, connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region.
Attendees will also hear from keynote speaker Paul Southby, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, and former High Sheriff of Nottinghamshire.
Dress code is standard business attire.
Thanks to our sponsors:
Award categories include:
- Most active agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner (this award cannot be entered, with the winner, and recipient of a year of marketing/publicity worth £20,000, selected from those nominated for the event’s other awards)
Nominations end Thursday 5th September, with winners revealed at a glittering awards ceremony on Thursday 3rd October at the Trent Bridge Cricket Ground – an evening of celebration and networking with property and construction professionals from across the East Midlands.
Tickets can now be booked for the 2024 awards event, click here to secure yours.
Taking place in the Derek Randall Suite at the Trent Bridge Cricket Ground on Thursday 3rd October, from 4:30pm – 7:30pm, connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region.
Attendees will also hear from keynote speaker Paul Southby, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, and former High Sheriff of Nottinghamshire.
Dress code is standard business attire.
To be held at:
