Derby City Council seeks talks with Alstom as job losses announced

Tess Egginton
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Derby City Council seeks talks with Alstom as job losses announced
Derby City Council are to seek talks with Alstom as they have announced that job losses are expected in Derby due to delays with future contracts. The Council has pledged to play its part in supporting the company, and is urging Government to work with Alstom, as it attempts to mitigate a major fall off in production as a result of delays in new train orders. Alstom is the UK & Ireland’s leading supplier of new trains and train services, having built, or building, just under 40% of the UK mainline train fleet; as well as the entire fleets in service with London Underground. The company is one of Derby’s largest private sector employers, employing 2,000 highly skilled people who design and build trains at their Derby Litchurch site, which is the UK’s only train factory. Councillor Baggy Shanker, leader of Derby City Council, said he would be taking steps to work with the city employer to understand how Derby City Council could assist and support. “We’re shocked to hear the national media coverage today. The Litchurch Lane factory site is a unique asset for Derby and we understand the impact these job losses will have on our residents and the wider region. “As a Council, we’re ready to play our part and urge the Government and unions to work closely with Alstom to ensure a sustainable future for the factory, which would not only benefit the thousands of staff at the site, but many more across the local supply chain. “The rail sector is immensely important to the city, and was recognised earlier this year with Derby being named the home for the new Great British Railways headquarters. We stand with Alstom and their workers during this challenging time and pledge to support wherever we can.”

Acquisitive wealth management business sees strong results

Tess Egginton
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Acquisitive wealth management business sees strong results

Specialist wealth and asset management business, Mattioli Woods has welcomed increased profit, revenue and client assets in its final results for the year ended 31 May 2023. 

Total client assets of the group and its associate rose 2.7% to £15.3bn, up from £14.9bn in the year prior. Meanwhile profit before tax at the company grew to £11.9m from £8m.

Revenue increased 2.8% to £111.2m, from £108.2m, driven by a combination of continued organic revenue growth, positive contribution from acquisitions, increased total value of new client wins and improved new client lead generation.

During the year, Mattioli Woods acquired Doherty Pension & Investment Consultancy Limited and a 50.1% stake in White Mortgages Limited.

Ian Mattioli MBE, Chief Executive Officer, said: “The last few years have been complex for our clients. This has reinforced our commitment to putting clients first and developing our service offering.

“We are building a business that is sustainable and ethical, but resilient over the long term, and I am pleased to report this approach has delivered revenue growth of 2.8% to £111.2m, reflecting the combined impact of organic growth of 3.7% and the revenue contribution of recent acquisitions being partially offset by the market impact on ad valorem, placement and performance fees.

“Adjusted EBITDA was up 1.8% to £33.2m and adjusted EBITDA margin was 29.8% with the positive impact of the change in revenue mix following the acquisitions made during the current and prior year being partially offset by inflationary increases in administrative expenditure. 

“Basic EPS was up 79.9% to 14.9p and adjusted EPS of 47.8p was down (0.9%). The Board is pleased to propose a final dividend of 18.0p per share. This makes a proposed total dividend for the year of 26.8p a year-on-year increase of 2.7%, demonstrating our desire to deliver value to shareholders and confidence in the outlook for our business.   

“We expect the current macroeconomic conditions and recent legislative changes to drive continued demand for high quality advice as we expand capacity within our adviser training academy to train a greater number of advisers each year, seeking to capitalise on the current ‘advice gap’ and drive strong organic growth in our financial planning and specialist pension consultancy businesses.

“We are progressing our other strategic initiatives, including the roll-out of our new, Group-wide client relationship management system Xplan. We are confident in the resilience of our business model and excited by the opportunity to accelerate growth and make meaningful progress towards our strategic goals.

“While inflationary cost pressures and investment in our strategic initiatives may impact margins in the short term, we are confident that we will continue to deliver attractive, long-term sustainable shareholder returns.

“Our focus remains on delivering great client outcomes. We have continued to develop our client proposition, reviewing the range of investment management options we offer and identifying opportunities to enhance the proposition and realise revenue synergies across the Group. The implementation of Consumer Duty regulations brings a welcome focus to the value that clients derive from the various services we offer and accords with our principles of integrity and professionalism.

“Previously acquired businesses are integrating well, with synergies being realised and additional cross-sell opportunities targeted for the new financial year.

“There continues to be a high level of M&A activity in the wealth and asset management sector and we were pleased to complete the acquisition of Doherty and our investment in White during the year. We have a strong pipeline of bolt-on acquisition opportunities to assess, as well as potentially more substantial opportunities in the longer term. We plan to build on our track record of successful acquisitions by continuing to assess and progress opportunities that meet our strict criteria. 

“Our Executive team continues to bring new ideas to drive further growth and generate sustainable shareholder returns. We were pleased to announce the appointment of Michael Wright as Deputy Chief Executive Officer to lead and support the delivery of certain strategic goals alongside his current responsibilities.

“I wish to thank David Kiddie for serving a 3-year term as Non-Executive Director and more recently as Non-Executive Chair as he steps down from this role at the next AGM as part of our long-term strategic planning. We are pleased to retain David’s services in a consultancy role with the Group given his expertise and extensive career background in investment management.

“His insight will be invaluable to support the continued development and structure of the Group’s investment proposition required to deliver our next phase of growth. 

“Over 31 years since founding the company, I continue to be thankful and humbled by the enduring culture of professionalism, positive mindset and commitment that our entire team continues to show when managing our clients’ affairs throughout another complex year. I look forward to the future with confidence.” 

All wilko shops to close as rescue fails

Tess Egginton
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All wilko shops to close as rescue fails
Wilko’s administrators have informed all staff that they will be commencing the closure of all wilko stores, the two distribution centres and the cessation of the majority of activities of the Support Centre. “Despite extensive efforts,” PwC say, “it has become clear that no significant part of the wilko operations can be rescued as a going concern.” It is anticipated that all stores will be closed by early October, resulting in the redundancies of a further 9,100 employees in those stores. Staff at 124 stores were informed yesterday that those outlets will close on, or before, Thursday 21 September. Timings for the closure of the remaining 222 stores will be announced in due course. The closure of distribution centre (DC) operations is expected to take place on Friday 15 September, with the majority of the remaining 886 DC employees being made redundant on that date. Further redundancies of the remaining 210 support centre employees will take place during September and early October as operations wind down. The administrators’ dedicated employee team will continue to help provide support, including assisting in the statutory redundancy claims process and ensuring the dedicated employee helpline remains in place to address any employee queries. Company support systems with access to further advice and resources will remain active. The administrators continue to liaise closely with the government, agencies, unions and large employers to help create avenues to further employment opportunities for staff, with the aim of helping team members quickly return to employment. This includes any and all transactions that may lead to stores opening quickly under other brands as a platform for future employment. Zelf Hussain, joint administrator, says: “Despite the significant and intensive efforts of both ourselves and Putman Investments – the remaining party interested in buying a significant part of the business as a going concern – a transaction could not be progressed due to the inability to reduce central infrastructure costs quickly enough to make a deal commercially viable. “The dedication shown by all team members during this period has been hugely humbling and we are grateful for the patience and understanding they have shown. As with those who have already been given notice of redundancy, we will guide and support those team members impacted over the coming weeks through the redundancy claims process. We also continue to collaborate closely with relevant agencies and engage with any potential employers to help facilitate a quick return into new employment for those impacted. “We continue to work with potential buyers for different parts of the business and are confident of completing transactions in the coming days.” The following 38 stores will close on Sunday 17 September with final day for employees on Tuesday 19 September: Accrington, Ashington, Blackwood, Bognor Regis, Bradford, Bury St Edmunds, Coalville, Crawley, Droylsden, Ellesmere Port, Falkirk, Ferndown, Hanley, Humberstone, Huyton, Kensington High Street, Kings Heath, Lakeside, Leigh, Letchworth, Maidenhead, Market Harborough, Melton Mowbray, Newport, Orpington, Pontefract, Pontypool, Redruth, Rugeley, Shirley, Southport, Sovereign Harbour, Torquay, Wimbledon, Wombwell, Woodhouse Lane – Leeds, Worcester, Workington. The following 38 stores will close on Tuesday 19 September with final day for employees on Wednesday 20 September: Aberdare, Alfreton, Ashby, Barnstaple, Belper, Beverley, Blackheath, Brigg, Byker, Chepstow, Clifton Nottingham, Colindale, Devizes, Didcot, Earlestown, East Ham, Great Bridge, Greenbridge, Grimsby, Hessle Road – Hull, Jarrow, Kimberley, Leighton Buzzard, Long Eaton, Maesteg, Matlock, Middleton, Newton Abbot, Redcar, Ripley, Seaham, Sherwood, Stamford, Stevenage, Swanley, Tamworth, Wrexham, Wythenshawe. The following 48 stores will close on Thursday 21 September with final day for employees on Friday 22 September: Allestree, Andover, Bedford, Beeston, Bicester, Bloxwich, Bolton, Bordon, Bransholme, Bridgend, Bury, Carlton, Clacton on Sea, Cramlington, Crewe, Cwmbran, Cyfarthfa, Denton, Driffield, Droitwich, Edmonton Green, Farnborough, Fort Kinnaird, Fulham, Gateshead, Gorleston, Grays, Greenock, Havant, Hereford, Hillsborough, Holyhead, Newton Aycliffe, Northampton, Orton, Parc Trostre Llanelli, Penge, Peterlee, Pwllheli, Shrewsbury, Slough, Swindon, Tamworth Retail Park, Taunton, Walton on Thames, Wheatley Retail Park, Wigan, Wolverhampton.

55,000 sq ft Grade A urban logistics development sold to private investor

Tess Egginton
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55,000 sq ft Grade A urban logistics development sold to private investor

Developer Chancerygate has sold Boundary43, its 55,000 sq ft urban logistics scheme in Brackley, to a private investor for an undisclosed sum.

Situated on the Buckingham Road Industrial Estate off Boundary Road, the development comprises 14 high specification Grade A units. These range from 2,100 to 19,200 sq ft and are available on a leasehold basis.

Boundary43 benefits from excellent access to Brackley town centre, Silverstone race track and the A43, as well as connections to the M1 and M40 motorways.

All properties at the development achieved an EPC A and BREEAM Very good rating and benefit from electric vehicle charging points.

In addition, the units are constructed from high-performance building materials and 15 per cent roof lights to reduce CO2 emissions and occupational energy costs.

Chancerygate development director, George Dickens, said: “This deal is the culmination of years of hard work and expertise to develop Boundary43 and will help satisfy the strong demand there is for prime urban logistics accommodation in the region.

“The sale is also a testament to our product’s sustainability credentials, flexible sizing and proximity to key infrastructure and transport hubs, all of which are attractive to both investors and occupiers.”

JLL and Brown & Co. advised Chancerygate on the sale of Boundary43 while Chadwick McRae acted for the buyer. The scheme is now available to lease through JLL & Brown & Co. and has been rebranded Boundary Park.

Property consultancy welcomes record number of graduates

Tess Egginton
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Property consultancy welcomes record number of graduates
A property consultancy has shown its commitment to the next generation of talent by welcoming a record number of graduates into the business. Fisher German has hired 34 graduates this year, along with 10 staff on placement, across its 27 offices around the country in a range of disciplines. The firm is making a concerted effort to find young talent and bring them through the company, which includes hiring graduates from all sorts of backgrounds. One such graduate is Rachel Cornthwaite, who is working within Fisher German’s agribusiness department after a background working on livestock farms in Cumbria. After studying at Harper Adams University, Rachel joined Fisher German on an eight-week placement at its office in Market Harborough within the agribusiness team during her studies. Rachel impressed so much during her placement that she was offered a full-time role after she graduated. She said: “I started with Fisher German on placement and from the start I was welcomed as a proper member of the team and was encouraged to get involved. “The team were so supportive, and I was able to gain great insight into the arable side of agribusiness that I simply hadn’t experienced in Cumbria. “When I was offered the job, it meant my final year at university did not have as much stress as it might have done. “Now I’ve started work with Fisher German, it’s just as varied as I remember. I’m working with all sorts of clients across Leicestershire, Northamptonshire, and Rutland. “I really think I’ve made the right decision to work for Fisher German and I’m looking forward to developing my career with them over the coming years.” Andrew Bridge, Managing Partner at Fisher German, started as a graduate himself before working his way up to the top of the firm and has always encouraged staff to realise their ambitions at the company. He said: “At Fisher German, we are committed to improving our colleagues’ career prospects by offering clear pathways for progression and supporting them with important qualifications. “I know first-hand that you can go far at Fisher German if you put the work in, and this is still true today. “If graduates have the drive and the attitude to succeed, they will do so at Fisher German, and our record intake this year underlines our commitment to nurturing the next generation of talent.”

Taking its lead from Harry Potter – Lincolnshire IT business celebrates 21st anniversary

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Taking its lead from Harry Potter – Lincolnshire IT business celebrates 21st anniversary
A Lincolnshire IT business – which started life in a understairs cupboard – is celebrating its 21st anniversary. LCS IT Solutions has grown from a one-man band to a business employing 10 people – and it continues to focus heavily on future expansion. Today the busy specialist, whose staff work on a hybrid basis, is based in professional premises in Washingborough from where it services micro enterprises, SMEs of all sizes and also supports a range of schools. Celebrating its achievements, Managing Director Anthony Bryant said: “Thinking back, the business had a rather Harry Potter-esque start in life, but our brand of magic must have worked, when I stop and realise where we have got to today!” After being made redundant in July 2002, Anthony and his wife Claire headed down to the pub, then camped out overnight, whilst mulling over their next move. That September Anthony, a former IT manager with a large muti-national company, immediately started work on creating the LCS brand from scratch despite never having had any experience in brand creation. In 2006, the fledgling venture switched up a gear. Anthony moved his business into a spare bedroom and Claire joined him to help with the rising number of accounts. It was a busy time all round as this tied in with the arrival of their first son, Louie. His brother Charlie was born two years later. By 2012, with the arrival of surprise son number three, Ted, the Bryant family had run out of bedrooms! LCS IT had also grown to employ four people, so it was time to find a new home for the business and they rented a little office nearby, in Washingborough. By 2015, further success led the firm to relocate to its current home in the village. Claire said that the fact that it is straight opposite the local pub is “pure coincidence!” That milestone also saw the couple tweak their business’s name to LCS IT Solutions, to reflect its growing range of services. 2020 turned out to be a memorable year for every company as Covid breezed in and acted as a major disruptor. In common with others, LCS IT Solutions examined the way in which it was working and took action to ensure it could continue supporting and delivering to clients during what ran into several lockdowns. “We responded by getting all of our clients up and running from home – and that entailed working with over 1,000 users. Sadly, our own team members were also forced to work remotely for the best part of the year,” said Anthony. “In line with the way in which hundreds of companies are still working today, we organised two Teams meetings each day to catch-up with everyone and keep our staff fully in the loop about the latest developments,” said Claire. “We are still doing that today and, depending on the individual needs of individual staff, hybrid working continues to be the way forward.” LCS IT’s core services include IT support, project management, consultancy, Cyber Security and managed telephone services. “The technological developments since we started out are massive. The largest growing area is Cyber Crime, but we are proud to be Cyber Essentials Accredited,” said Claire. “We’ve been building a close working relationship with the police and the East Midlands Cyber Crime Unit who were our partners in an educational event we ran for clients earlier this year. “We are keen to keep educating our clients, which is why we constantly create new resource they can use to educate their staff in ways to help safeguard against hacking attempts.”

Firms offered business-boosting digital advice

Stuart Pearcey
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Firms offered business-boosting digital advice
Manufacturers are being encouraged to find out more about a scheme aimed at helping them boost their organisations with digital technology. Made Smarter East Midlands is a support programme which aims to help firms in the sector grow by utilising digital technologies, increasing efficiency, reducing downtime and getting products to market faster. The project is supporting manufacturers which employ ten or more staff and are based in the D2N2 region covering Derby, Derbyshire, Nottingham & Nottinghamshire, along with Leicestershire and Lincolnshire. The Made Smarter Programme offers ‘Digital Transformation Road Mapping’ to help companies set out their 3-5 year transformation and cultural change journey. The scheme can provide technical expertise, consultancy and grant funding to help implement the changes detailed in the road map. Made Smarter East Midlands will support firms in their development, adoption and implementation of emerging technologies, making a real, everyday difference to people across the business, from the boardroom to the factory floor. World-renowned businesses and the UK government back this programme, and a team of specialist technology experts can provide businesses with personalised advice, identify the right digital tools, and help companies make strategic and everyday improvements to their manufacturing business. In addition, business leaders can advance their own skills with the Made Smarter Leading Digital Transformation Programme. Developed with Loughborough University, this programme enhances leadership capabilities and makes the transition to digital technology easier. D2N2 LEP’s Sector Engagement Manager Lucie Andrews, said: “I encourage local businesses to apply for the Made Smarter East Midlands support programme. You’ll get a real boost for your manufacturing, help in driving up your productivity and efficiency savings and receive support for your business to work leaner and smarter.” Applications for the Made Smarter programme are proving very popular, so be sure to express your interest now to avoid disappointment. To find out more and take the first step towards digitising your manufacturing business, register your interest today.

Derbyshire child exploitation charity becomes first SME to receive British Safety Council funding to support staff wellbeing

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Derbyshire child exploitation charity becomes first SME to receive British Safety Council funding to support staff wellbeing
Derbyshire-based charity, Safe and Sound has become the first organisation to successfully win funding from British Safety Council to improve and support its staff’s wellbeing. The funding of up to £10,000 was awarded to Safe and Sound through British Safety Council’s Keep Thriving campaign to improve workplace wellbeing. Safe and Sound supports and protects young people and families across Derbyshire whose lives have been affected by child exploitation. Tracy Harrison, CEO of Safe and Sound, attended the first 3-hour workshop in November 2022 to help her and other small and medium organisations (SMEs) develop a wellbeing strategy, delivered by experts from British Safety Council’s Being Well Together programme. Workshop attendees are invited to apply for funding six months after attending workshops with only the most effective and innovative proposals receiving approval. Further awards will be made to other organisations taking part in workshops between November 2022 and March 2023. The money will help the SMEs to implement their wellbeing strategy and plans. Commenting on why the money will make a difference and how Safe and Sound will make use of it to support its staff’s wellbeing, Tracy Harrison said: “I am delighted that our work to support our amazing team who in turn work so hard to support children, young people and their families in our local community has been recognised in this way. “As a charity, we champion diversity, personal development and inclusivity and our team represents the local communities that we serve. “This grant will enable us to implement our wide-reaching strategy to ensure the wellbeing of our staff who do an incredible job in sometimes the most challenging of circumstances and we are extremely grateful to British Safety Council’s Keep Thriving campaign for its support. “Initiatives we are planning as part of our new wellbeing strategy include bespoke training, team building and wellbeing workshops.” Commenting on the funding award, Mike Robinson, British Safety Council Chief Executive, said: “I am excited and proud that as a charity British Safety Council is supporting small organisations in this way, and delighted that Safe and Sound is the first recipient. I know the difference even a modest amount of funding can make to employers who lack the HR and financial resources that larger ones can use to support their staff. “In its application Safe and Sound showed not just that it would use this money in creative and imaginative ways, but also that it would measure, evaluate and track the impact of its activities carefully, that it is listening to its staff to develop its plan and that it fits with the strategic needs of them and the charity. “We look forward to working with Safe and Sound as it progresses on its wellbeing journey and hearing how it gets on with implementing its plan over the coming months.”

NoBlue2 acquires BrightBridge

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NoBlue2 acquires BrightBridge

Nottingham’s NoBlue2 has acquired BrightBridge Solutions Ltd “to create one of Europe’s largest and most effective Oracle NetSuite partners.”

The combined business – which now has approximately 130 employees and revenues of over £16m – is committed to business as usual for its 400+ customers throughout and beyond the transition period.

All members of the BrightBridge Oracle NetSuite and Microsoft Dynamics delivery teams will continue to support their 150 existing enterprise customers.

NoBlue2 was created through the recent merger of NoBlue and Elevate2 following a growth investment received from FPE Capital (FPE), the specialist software and services focused lower mid-market growth investor.

The merger, completed in July 2023, brought together two leading UK Oracle NetSuite solution providers and this announcement integrates a third big hitter in the sector; 46 BrightBridge employees will unite their skills and expertise with the NoBlue2 team.

In addition to its role as a top three Oracle NetSuite Partner in EMEA, BrightBridge has significant capabilities in Microsoft Dynamics and Sage systems. While NoBlue2 previously focused on delivering only Oracle NetSuite projects, the addition of the BrightBridge Microsoft Dynamics team will facilitate an expanded offering.

FPE Capital has a successful track record in backing ERP software and services businesses with a focus on market leading vendors and strong, client focused cultures. With FPE’s support, the strengthened NoBlue2 is now planning to invest further into application development and related services, and to further scale the business internationally.

Ian Irwin, CEO of NoBlue2, said: “BrightBridge is a well-regarded organisation and the people joining us will be a credit to the entire NoBlue2 team. I’m delighted to welcome them and their customers – we’re looking forward to working together to help customers to achieve their goals.

“We’re focused on strengthening our relationships further, delivering existing – and new – products and services to customers, and expanding our reach to deliver more innovative solutions to ambitious businesses.”

Co-founder and Sales and Marketing Director of BrightBridge, Ian Robertson, added: “The BrightBridge vision has always been to be a true partner to our customers to ensure the best return on their investment and to look after the people we employ; ultimately, they drive our success.

“Therefore, any acquisition had to be a perfect fit to guarantee customer satisfaction and staff retention for both our NetSuite and Microsoft teams – I’m delighted that we identified FPE’s investment and NoBlue2 as just that.

“By uniting our experience, skills and passion for designing and delivering ERP systems, NoBlue2 will be a remarkable knowledgebase for customers. We aim to use our robust position to cast our net wider and deeper to help more businesses and non-profits across Europe to capitalise on using the very latest in business technologies.

“This is great news for everyone – we can continue to deliver projects to BrightBridge’s high standard and be part of an exciting growth story.”

Dan Walker, partner at FPE, added: “FPE is delighted to have completed this significant acceleration of our investment in NoBlue2 through this acquisition of BrightBridge so soon after our initial investment. “We have used our specialist focus on this sector to identify this rapid pathway to creating the leading European Oracle NetSuite partner. We are ambitious to continue an acquisitive and organic growth strategy in this sector and provide our customers with a range of business applications and services to aid their digital transformation.”

Gravity Digital signs up to support DCCT

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Gravity Digital signs up to support DCCT
Digital marketing agency Gravity Digital have teamed up with Derby County Community Trust (DCCT) to help break down barriers facing young people keen to further their education and training. Derby-based Gravity have joined DCCT’s Partners Programme and chose to specifically align the organisation’s Education Hardship Fund as part of their commitment to support young people into the workplace. DCCT established the Education Hardship Fund to support young people who may have a financial barrier to accessing the charity’s wide range of educational courses and supports their travel, kit costs and living expenses. In the coming academic year, more than 700 young people will be part of the education programme which ranges from football and education to sport-related degrees. Gravity Digital director Sharon Stevens-Cash explained: “We have long been in awe of the incredible work that DCCT does across Derbyshire and the positive impact that this has on the lives of so many people in our local communities. “Their work closely aligns with our ethos of putting something back into the communities where we all live, work and enjoy. “Education and employability skills are particularly relevant to our fast-moving digital marketing sector which relies on the enthusiasm, positive attitude and flexibility of young people who are the future of this industry. “We were therefore keen to specifically support DCCT’s commitment to ensuring a level playing field and I hope that our support for the Hardship Fund will make a real difference to young people’s lives.” DCCT Business Development Manager Pete Collins added: “We are delighted that Gravity Digital has joined our Trust Partners Programme alongside so many other notable local businesses. “The Education Hardship Fund is crucial to support young people who might otherwise struggle to continue their education and training due to financial constraints. “We have had many notable successes over the years including Gemma Barrowcliff who is now an administrator in the education and employability department having graduated from our Kickstart Employability scheme. “She is a shining example of the power of education, and, with the support of Gravity Digital and other Derby businesses, many more young people will be able to achieve their potential and get the first step on the career ladder.”
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