Explosive start for new firm AG Corporate Law
AG Corporate Law, a boutique law firm based in Mansfield, has enjoyed immediate success within its first three months of operation.
Founded by Adam Gilbert, formerly of Chattertons Solicitors, the firm has quickly carved a niche for itself, specialising in corporate and commercial law.
Already, the firm has orchestrated a number of significant transactions with notable deals including the successful sales of Avis Consulting, Direct Line Communications, Zenith Doors, Clearcall, Eurotek Foundry Products, Marcol Plastics, Precision Card Services, Prigmore Haulage and Proactive Mobility.
Commenting on the initial success, Managing Director, Adam Gilbert said “Despite the economic and geopolitical challenges that have been impacting the UK, we have seen a fantastic level of activity within the deal landscape we are operating within. Our involvement in these transactions has demonstrated our ability to provide our clients with solutions that meet their specific needs in relatively short timeframe.”
Looking ahead, AG Corporate Law has already reached its original annual fee income target and confidence is high owing to a healthy pipeline of deals at various stages of completion which will mean this target is exceeded by a remarkable 135%.
AG Corporate Law currently employs four advisers and support staff and is based out of the Ransom Wood Business Park in Rainworth. Mansfield. Adam was joined by his former corporate team of Deni Slaveva and Harriet Woolley and who together have successfully closed over 50 transactions in the last year, with a total deal value of more than £130 million.
Planning Inspectorate gives the go ahead for demolition of La Gondola
Planning permission has been granted, at appeal, for the demolition and re-development of the former La Gondola restaurant in Osmaston Road, Derby.
La Gondola opened in 1969 and was a popular restaurant and hotel for decades. However, the business declined and eventually went into liquidation in 2009.
The building stood empty for 14 years prior to being purchased by EB Property Solutions, part of the Elgie Group, in 2021. The developers originally submitted plans for demolition and redevelopment, this application was refused in December 2021.
Matthew Montague Architects redesigned the site and submitted a revised planning application in April 2022 and despite being recommended for approval by the City Council Planning Officers this application was also refused.
Following this decision JMI Planning were instructed and an appeal was submitted to the Planning Inspectorate. After a successful review, the planning inspector has given the go ahead and the scheme has been approved.
The approved development comprises 42 apartments over two four storey blocks; 34 being two-bedroomed and eight one-bedroomed.
Matthew Montague said: “This is good news; the approved scheme doesn’t dominate the street scene and addresses the scale of the former hotel. The building has been in a state of disrepair for many years, it is great that it will now be regenerated.”
Sam Elgie of the Elgie Group said: “We are delighted to have received permission for the scheme it’s been a very long process but we can now move forwards.”
The developers intend to sell the site.
Motor Source Group and Aurora EV forge dynamic new business partnership
Motor Source Group, a provider of innovative salary sacrifice car programmes for businesses, and Aurora EV, an EV charge point installation business, have announced a strategic business relationship aimed at accelerating the adoption of electric vehicles (EVs) and fostering sustainable transportation solutions for business and employees.
Motor Source Group offers a comprehensive salary sacrifice car programme designed to assist businesses with a full motoring solution and providing a range of hybrid and electric vehicles to support the journey to achieve Net Zero goals. The company’s commitment to simplicity, along with a customer-focused approach, ensures that both businesses and employees experience seamless car procurement and management processes.
Aurora EV, with over five decades of combined experience in the motor and electrical industry, stands as a specialist installation business dedicated to providing top-tier EV charge point solutions. Their team of seasoned engineers possesses a wealth of knowledge and expertise, guaranteeing efficient and reliable installation and maintenance of EV charge points. Aurora EV’s reputation for quality and excellence in the EV infrastructure arena has made them a trusted partner for numerous businesses and individuals seeking reliable charging solutions.
The collaboration between Motor Source Group and Aurora EV marks a significant stride toward a sustainable and electrified future. By combining Motor Source Group’s salary sacrifice car programme with Aurora EV’s expertise in EV charge point installation, the partnership aims to create a holistic offering that empowers businesses to transition to electric mobility seamlessly and effectively.
“We are thrilled to announce our partnership with Aurora EV,” said Steve Thornton, founder & CEO at Motor Source Group. “This collaboration aligns perfectly with our commitment to providing businesses with comprehensive solutions that are convenient and easy to implement. With Aurora EV’s unmatched experience in EV charging installations, we can offer our clients a seamless transition to electric vehicles, fostering environmental responsibility and sustainability.”
Ben Morris, Managing Director at Aurora EV, said: “Our partnership with Motor Source Group is a natural fit, as both our organizations share a passion for innovation and sustainable solutions. By combining our expertise with Motor Source Group’s forward-thinking approach, we can provide businesses with a complete package that supports their transition to electric mobility.”
The collaboration between Motor Source Group and Aurora EV is expected to drive significant positive change in the corporate sector’s approach to sustainable transportation solutions. This partnership underscores both companies’ commitment to a greener future and marks the beginning of a journey toward impactful change in the automotive landscape.
Manufacturing output falls at fastest pace since September 2020
Manufacturers reported the sharpest fall in output volumes since September 2020, according to the CBI’s latest Industrial Trends Survey.
Motor vehicles & transport equipment, mechanical engineering, paper, printing & media, and chemicals sub-sectors drove the decline in output over the three months to August. Looking ahead, output volumes are expected to stabilise in the next three months.
Firms anticipate that price pressures will continue to ease going forward, with expectations for selling price inflation over the next three months at their softest since February 2021.
The survey, based on the responses of 277 manufacturing firms, found:
- Output volumes fell in the three months to August (weighted balance of -19%, from +3% in the three months to July), marking the sharpest decline since September 2020. Output is expected to be broadly stable in the three months to November (-3%).
- Output fell in 15 out of 17 sub-sectors in the three months to August, driven by the motor vehicles & transport equipment, mechanical engineering, paper, printing & media, and chemicals sub-sectors.
- Total order books were reported as below “normal” in August and to a greater extent than in July (-15% from -9%). However, this outturn was broadly in line with the long-run average (-13%). Export order books were seen as below “normal,” having deteriorated from last month (-18% from -11%). This was also on a par with the long-run average (-18%).
- Expectations for average selling price inflation were at their softest since February 2021 (+8%, from +18% in July; long-run average of +7%). Expectations for selling price inflation have eased for eight consecutive months, having fallen sharply from the multi-decade high seen in 2022 (+80% in March 2022).
- Stocks of finished goods were seen as more than “adequate” in August (+7% from 0% in July; long-run average of +12%).
Martin Sartorius, CBI principal economist, said: “With output volumes contracting at their fastest pace since the COVID-19 pandemic and order books deteriorating, this survey makes for gloomy reading for manufacturers. However, easing price pressures will bring some relief to many manufacturing firms and the broader economy.
“The weak outlook for manufacturing activity underlines the need to double-down on delivering sustainable growth. With fierce levels of international competition, the race is on for the UK Government to offer targeted incentives to attract green investment and support firms’ decarbonisation efforts.”
Army veteran joins MTMS as group strategic lead
An Army veteran who has served around the world has joined the team of a Derbyshire rail firm as it looks to the future.
Bruce Spencer has joined the team at MTMS in Swadlincote as the group strategic lead where he will look at the business’s long-term aims.
Bruce has dedicated most of his working career to the Army as both a regular and reserve officer. He travelled the world for 38 years after first being commissioned into the Worcester and Sherwood Foresters.
During his Army career the places he served include Iraq, Afghanistan and Bosnia to name just a few. He transferred to the Adjutant General’s Corps in the 90’s where one of his roles included Military Attache in Kathmandu, Nepal. Keen on outdoor sports, he has trekked the Himalayas, sailed the Atlantic and taken a kayak down the Pyrranees rivers.
He has met many members of the Royal family over the years including the late Queen Elizabeth II, Prince Phillip and Princess Anne.
Outside of work he dedicates his time to the Derbyshire Blood Bikers, Chesterfield Sea Cadets and the Mickleover branch of the Royal British Legion.
Now the married father-of-three will be looking into the future of the business and how it will look over the next few years in an ever changing landscape.
He said: “I’m absolutely delighted to be joining MTMS. They’re growing and they’ve got great ideas and great leadership. They fill a much-needed capacity gap in the UK railway system contributing to the nation’s green footprint.
“I will be looking towards the next one, two and three years and at what we are doing now and suggesting how we evolve as a company.
“The rail industry is very much part of the government’s environmental solution for transport. There is a lot of work as rail restructures across the country and we want to be part of those future solutions.
“MTMS is a great business that often acts as the fourth emergency service for the railways. It helps to keep the railways running and reduces their carbon footprint. It’s the great work of the engineers that keep the railway running.
“I will be looking across all facets of the business examining how it operates cohesively. Derbyshire’s strategic location, nestled in the heart of the UK, makes it an ideal hub for nationwide services.”
Fresh acquisition for Dains Accountants
Dains Accountants, which has offices in Derby, has acquired PSTAX and S3TAX, the public sector and not-for-profit VAT and Employment tax specialists.
PSTAX has celebrated 20 years in business this year, being formed in 2003.
Founder Peter Gladdish has championed the decision to join the Dains group of businesses saying: “Having been established for 20 years PSTAX is delighted to join forces with Dains as we continue to grow our market share across the UK. With Dains’ support, we will be able to provide a broader service to our clients and connect to an incredible network of advisors across the group.”
Richard McNeilly, CEO of Dains, said: “PSTAX and more latterly S3TAX, which was launched in 2022, have developed a fantastic proposition for clients which blends helpline support and training with first-class consultancy advice.
“The team is a great fit and although we traditionally operate in different market segments, our ethos is absolutely consistent, where we support clients and help them deliver long-term success.”
Duncan Groves, Managing Director of PSTAX believes the move is perfect for clients and his team. “Our business is built on the quality of our people and our clients. Investment from Dains will enable the business to continue to grow and provide even better career opportunities for our talented team.”
Luke Kingston, partner at Horizon Capital, said: “We are delighted to have supported Richard and Dains on their fourth acquisition and welcome the PSTAX team. We share everyone’s enthusiasm for the significant opportunities created by bringing the businesses together.”
Dains were advised by DSW (financial and tax due diligence), Forward Corporate Finance and CMS (Legal). PSTAX were advised by DSA Prospect and Knights Solicitors.
US and Swedish investors continue to target businesses in the Midlands, with 36 acquisitions in the last 12 months
From April to June 2023, the US remained the most active inbound investors, completing four deals, consistent with the previous quarter where five deals were completed. The results reflect a similar trend from last year, where the US was also the most active inbound investor in the Midlands for the first half of 2022, with US companies completing 12 deals in the same period last year.
The research, conducted quarterly by Deloitte in collaboration with Experian Market IQ, tracks inbound and outbound M&A activity between investors and corporates in the Midlands and overseas. From the second quarter of 2023, the results demonstrate consistency with investment into the Midlands from both US and Swedish companies.
Inbound investment into the Midlands:
In Q2 2023, the Midlands saw 11 inward deals, a fall of 26 per cent on the last quarter and a 52 per cent decrease year on year. The West Midlands remained consistent with seven transactions completed in both quarters of 2023 so far whilst deal volume fell in the East Midlands with a 50 per cent decrease from eight inward deals completed in Q1 compared to four in the last quarter.
The information and communication sector was the most popular area for inbound investment with four deals completed in Q2 2023, whereas the manufacturing sector witnessed a drop from seven deals in Q1 2023 to one deal in the last quarter.
Outbound investment from the Midlands:
The level of overall outbound deals from the Midlands fell from 15 deals in Q1 2023 to eight deals in the second quarter, marking a 46 per cent decrease. The results represent an overall decrease of 27 per cent year-on-year from the same period in 2022. The East Midlands experienced steady levels of outbound deal activity with five deals completed in the second quarter compared to six in Q1 whereas outbound deal levels dropped more significantly in the West Midlands, falling from nine to three deals completed between Q1 and Q2.
The financial and insurance sector in the Midlands remained the most popular areas for outbound deals, with three completed in Q2. Consistent with Q1, the US and Ireland remained the most popular regions for outbound investment with four deals completed in each region. The majority of deals completed in Ireland were made up of acquisitions by professional services companies.
Nick Carr, corporate finance director at Deloitte, said: “These latest results continue to reflect the attractiveness of the Midlands market internationally, particularly to both US and Swedish investors. Despite fewer deal completions in the last quarter, this was not unexpected as a result of various economic issues such as rising inflation and interest rates impacting on deal activity. However, with an ongoing pipeline of deals we expect completions to pick up in the second half of the year.
“Although deal volume has dipped from the previous quarter, the transactions we have so far advised on are of particularly high value, creating significant economic opportunities for businesses in the region. The recent successful completion of Sygnature Discovery’s acquisition of NuChem Sciences is just one example of the international scale of the deals that the Midlands market continues to be at the heart of.”
Celebrate property and construction businesses with a submission for the East Midlands Bricks Awards 2023 – nominations close 31 August!
Providing the perfect forum to showcase your business’s achievements, there’s not long left to enter the East Midlands Bricks Awards 2023, with nominations closing on Thursday 31 August.
The prestigious event, organised by East Midlands Business Link Magazine, is an independent awards and publicity programme recognising development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools.
The annual awards and networking event draws leaders from throughout the East Midlands and is the ideal way for businesses to promote themselves and those they work with. Indeed winning one of these awards will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly.
Winners will be revealed at a glittering awards ceremony on Thursday 28 September, at the Trent Bridge Cricket Ground – an evening that will also provide plenty of time to establish new connections with property and construction professionals from across the region.
To nominate your (or another) business/development for the East Midlands Bricks Awards 2023, please click on a category link below or visit this page:
To be held at:
- Most active estate 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, the winner will be selected from those nominated)
Find out who last year’s winners were here.
Book your tickets now
Tickets can now be booked for the East Midlands Bricks Awards 2023 – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge Cricket Ground from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:
To be held at:
Catering group gobbles up Nottingham firm
Nottingham-based Walker Catering has been acquired by Leeds-headquartered catering group, Northern Catering Equipment Group.
Walker Catering was established in 1990, offering catering supply services to customers in Nottingham, the East Midlands and across the UK.
Hilton Smythe advised Walker Catering on their successful sale. Prior to acquisition, it had 250 active clients, a 90% repeat business record, and approximately £240k cash in the business.
In addition to Walker Catering, NCE Group operates three other businesses in Leeds and Swansea and has been shortlisted for several industry awards.
Mo Romanowicz, Managing Director of NCE Group, said: “We’re delighted to have invested in Walker Catering. It has not only brought additional revenue, but also experienced and capable staff who will help us go from strength to strength.
“The team at Hilton Smythe has been invaluable in terms of providing a clear action plan and supporting us every step of the way with clear communication. We’re already discussing further opportunities for growth through acquisition for our next stage of development.”
Jacob Lord, senior deal executive at Hilton Smythe, said: “NCE Group has a clear growth strategy through acquisition, and the addition of Walker Catering to its portfolio supports its long-term aims and objectives.
“From our first meeting to completion, Hilton Smythe has been working hand in glove with NCE Group to ensure that Mo and the team were kept up to date with any developments and that the deal ran smoothly.”
Chesterfield manufacturer forms strategic sustainability partnership
Chesterfield’s MTM Products, the industrial graphics suppliers, has announced a strategic partnership with CarbonQuota, a print and packaging carbon measurement and reduction specialist.
The partnership reflects MTM’s firm commitment to delivering a more energy-efficient and carbon-reduced operation.
Catering to a diverse range of industries, MTM supplies original equipment manufacturers in the UK and EU, with a particular focus on automotive, electrical and electronic, rail, medical, construction, and machinery equipment sectors.
The company’s industry-specific stock management systems, including lineside stocking, buffer stocks, and call-off orders, ensure efficient supply chain operations for its clientele.
Mark Niblett, Managing Director of MTM Products, said: “We take pride in our technical and applications engineering expertise, the expertise and proficiency of our teams, competitive pricing, and our signature MTM Express quick turnaround service.
“It is now becoming increasingly important to our clients to also understand our environmental impact. Our partnership with CarbonQuota signifies our commitment to decarbonise as much as possible by 2030.
“This not only benefits the environment but also brings with it many other advantages for MTM Products Ltd, including competitive differentiation.”
MTM Products engaged CarbonQuota to accelerate its carbon reduction efforts, aligning with the 2030 government directive and rising client demands for environmentally conscious practices.
CarbonQuota’s expertise in carbon management and granular three-step approach provided MTM with a clear roadmap to establish baselines, set objectives, and execute their decarbonisation plans.
One of the primary goals of this partnership was to demonstrate MTM’s commitment to delivering measurable carbon footprint reduction results. Independent assessment by CarbonQuota has confirmed the accuracy, completeness, and consistency of MTM’s energy use and carbon footprint data.
As a result of their implemented carbon reduction strategies, MTM has successfully decreased its operational carbon footprint by 34 tonnes of CO2e over the past year.
Looking forward, MTM Products is determined to continue reducing its carbon emissions, furthering environmental responsibility, and setting new benchmarks for lower carbon manufacturing practices.
