Sustainable pallet manufacturer to create 15 jobs following £750,000 funding
A Wellingborough-based paper honeycomb board manufacturer has secured £750,000 to expand its product range, create jobs and enter new markets.
The Alternative Pallet Company Ltd who trade as PALLITE® received funding from the Midlands Engine Investment Fund (MEIF) provided by The FSE Group Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
The MEIF funding will help to create 15 new jobs in the next year, with the ability to offer apprenticeships to the under-25s.
The investment will also allow the business to expand its product offering with the creation of a new furniture range – following on from its pop-up desk success. The business is also looking at entering new markets in the high-value fashion and fragile goods sectors, as well as expanding into Europe and North America.
Iain Hulmes, CEO of The Alternative Pallet Company, said: “All of our products are designed in-house and are both nail and splinter free and exempt from heat treatment legislation for exported products.
“Although we started out as a pallet business, we listened to our customers and further developed the PALLITE® range to include collapsible pallet boxes, insulated pallet boxes, layer boards and pallet feet. The FSE Group guided us through the funding process and we appreciate their help to achieve our growth ambitions.”
Ann Marie McFadyen, investment manager at The FSE Group, which manages the MEIF Debt Finance Fund, adds: “PALLITE® has an established product range demonstrating commercial traction with a large customer base.
“The UK transport sector produces over 25% of greenhouse gas emissions so it is great that Iain and his team are creating environmentally friendly products that will help reduce these emissions. It is encouraging to see the business enter new markets and we look forward to this next exciting stage of their journey.”
Vicky Hlomuka, SEMLEP’s Growth Hub manager, said: “PALLITE® is a perfect example of how a business can innovate to develop more sustainable products that not only benefit the environment, but increase customer satisfaction.
“It’s fantastic to see the Midlands Engine Investment Fund investing in yet another Northamptonshire based businesses to create more jobs and enabling PALLITE® to continue to develop unique product solutions in the packaging and logistics industries.”
Significant investment to fuel software platform’s growth
Pollen Street Capital has agreed a sale of Aryza, which has a large office in Nottingham, to Atlas Bidco 1 Limited – a company owned by Macquarie Capital Principal Finance, Pollen Street, and Aryza senior management.
The parties say they are excited by the future growth potential of the software platform, attractive market dynamics and M&A opportunity.
Colin Brown, CEO of Aryza Group, said: “This is a major step forward in the growth of Aryza, we have continued to build a sustainable and successful business throughout one of the most difficult trading periods in history.
“This additional investment will fuel even more organic growth and present us with a greater depth to explore opportunities in new territories, and to continue to enhance our market-leading product set.”
Pollen Street first invested in Aryza in 2017. Since then, Aryza has grown rapidly in size and breadth of offering, both organically and through M&A. Today it is a global leading provider of case management and process automation software solutions for regulated industries, serving the insolvency, credit, and debt recovery sectors.
Macquarie bring substantial institutional expertise and operational experience, as well as an extensive network in Australia, New Zealand, US and Asia and flexible capital to support continued growth of Aryza. Its capabilities are demonstrated through a track record of more than 620 investments deploying $US35 billion since inception in 2009, including many software investments.
Adam Joseph, head of private equity, Macquarie Capital Principal Finance Europe, said: “We were attracted by Aryza’s exceptional quality, leading position in lending and insolvency sectors and defensible market position – with the potential for further product and geographic growth.
“Investing alongside Pollen Street Capital, with whom we have a long-standing relationship, provides a unique opportunity to deploy our flexible capital to offer additional support and the resources required to help achieve Aryza’s future growth ambitions.”
Sharand Maharaj, Managing Director at Macquarie Capital Principal Finance, added: “We look forward to working alongside Colin and the rest of the management team and bringing our experience in supporting high growth businesses to help continue the impressive momentum they have achieved with Pollen Street Capital to date.”
Corby logistics firm on the road to success with site expansion
A transport and logistics firm in Corby is heading for growth after investing in new warehousing space, with support from Lloyds Bank.
Sanderson Transport used a seven-figure funding package to purchase a 5.5-acre site adjacent to one of its existing properties, which will provide an additional 55,000 sq ft of warehouse space, as well as increasing the office footprint for its logistics operations.
It will increase the firm’s warehousing capacity by up to 50%, and enable it to expand its growing e-commerce fulfilment services.
The firm provides transport and logistics solutions for a variety of customers, ranging from industrial goods to retail, with a fleet of more than 80 vehicles. It employs more than 140 people across its sites in Corby and Market Harborough.
The new investment follows a period of sustained growth for Sanderson Transport over the past five years, which has seen its customer base expand significantly.
Ed Sanderson, commercial director at Sanderson Transport, said: “We’ve increased the size of our operations significantly over the past five years or so. Acquiring the new site will give us even more room for growth and the chance to diversify what we do even further.”
Belinda Smith, relationship manager at Lloyds Bank, said: “Sanderson Transport has enjoyed impressive growth in recent years and we’re pleased to see the team build on this success with the acquisition of its new site.
“We will continue to support them as they move forward, and will be working with other businesses across the area to help them on their own growth journeys.”
£30m Nottingham development acquired by Northwood Urban Logistics
The employment and trade phases of a £30 million mixed-use development in Nottingham has been acquired by Northwood Urban Logistics, investor in UK urban logistics.
Teal Park, off the Colwick Loop Road in Netherfield, has been jointly developed by Warwickshire-based AC Lloyd Commercial (ACL) and Nottingham-based Henry Davidson Developments (HDD).
Northwood Urban Logistics has now purchased the entire industrial element of the scheme which will be delivered by ACL and HDD in three phases.
The first phase of this development is now completed and fully let which includes 33,300 sq ft of trade units with Toolstation and Screwfix now open and Howdens due to start their fitting out works imminently.
Phase 2 consists of 19,500 sq ft of trade units with 50% already under offer and Phase 3 consists of six mid-range industrial units ranging from 9,000 sq ft to 30,000 sq ft, totalling 111,000 sq ft.
Mark Edwards, Managing Director at AC Lloyd Commercial, said this deal highlighted the investor demand for employment led development in Nottingham.
He said: “Nottingham has a great reputation for its innovation which, coupled with its fantastic transport links, make it an attractive proposition for investors.
“Northwood Urban Logistics were looking for a site in this part of the city and it met all their needs.
“From day one, the response we received from Gedling Borough Council to our plans and from national and regional businesses wanting to locate at Teal Park has been hugely positive and we look forward to completing the development by autumn 2022.”
Iain Taylor, director at Northwood Urban Logistics, said: ‘’We are very excited to have purchased Teal Park at a time when there is a chronic lack of supply in the area. Teal Park is able to cater to a wide range of occupiers who will be able to adapt the units for a variety of uses.’’
Richard Croft, director at HDD, added: “There is a very strong market for well-located trade and mid-box industrial sites as we start to emerge from Covid-19 and this was reflected in the interest and subsequent sale to Northwood Urban Logistics.
“It has been a real pleasure dealing with Northwood Urban Logistics on the first phase and we look forward to working closely with them on delivering the next trade and industrial phases at Teal Park.”
Howes Percival expands contentious trust and probate team
Law firm Howes Percival has appointed experienced litigator, Jennifer Laskey, as a director specialising in dispute resolution. Jennifer joins the firm from Wilson Browne Solicitors where she was a partner.
With over 20 years’ experience, Jennifer has qualified as a full member of the Association of Contentious Trust and Probate Specialists. Jennifer has expertise in relation to contentious trust and probate disputes, advising clients in will disputes, claims against estates, challenges to will validity and issues arising from the administration of trusts. She has also represented clients in a rare presumption of death application.
Geraint Davies, practice group leader for litigation at Howes Percival, said: “I am delighted to welcome Jennifer to Howes Percival. Her recruitment is an important part of our national strategy to grow our dispute resolution, private client, and family law work.
“Not only does Jennifer bring with her valuable experience in advising on contentious trusts and probate disputes, having been a board member and marketing partner at her previous firm, she is ideally placed to help us grow this practice area further.
“We are seeing a growing number of instructions in this area, often involving substantial and complex estates. We have also noticed that more clients are looking for real expertise first and foremost and are often less concerned by geographical location. While some clients still prefer face-to-face meetings, an increasing number are comfortable with virtual consultations.
“We are seeing this trend across a range of practice areas including intellectual property law and property development work, where new communication technologies are helping us to develop niche areas of expertise far beyond the usual geographical boundaries.”
Howes Percival has offices in Cambridge, Leicester, Manchester, Milton Keynes, Northampton, and Norwich.
Royal Warrant of Appointment to Her Majesty The Queen granted to John Mills of MHR International UK Limited
A Royal Warrant of Appointment has been granted to John Mills Esquire, President and Founder of MHR International UK Limited, for the supply of Payroll and HR Systems to Her Majesty The Queen.
John Mills says: “It is a real honour to be the recipient of this highly esteemed award. MHR is now among over 800 Royal Warrant holders, whose work in trade and industry has been acknowledged at the highest level.
“At MHR, we are united by a commitment to the highest standards of service, quality and excellence, and it is a source of great pride that MHR International UK Limited has received the Royal Warrant.”
Since the Nottinghamshire-headquartered business was founded in 1984 by John Mills, MHR has grown significantly and has adapted to many changes to continue to meet the needs of customers.
John Mills continues: “This is an exciting time for MHR. The receipt of this reward is a tribute to the endeavours and commitment of everyone within MHR International that has made it the company it is today. This recognition can also be attributed to all our staff for being an integral part of our journey.”
Notts fire & security company expand East Anglian presence
Notts fire & security system installation and maintenance company Tecserv UK has expanded its presence in East Anglia following the appointment of Simon Brighty as area manager for the region.
Simon, who has worked in the industry since 1995, joins the company from Honeywell Building Solutions where he has spent the last 18 years in a variety of servicing, project management and field based roles supervising teams of service technicians.
In his new role, Simon will be responsible for growing the service base in the East Anglia Area and managing a growing team of service engineers. This will include estimating new projects and small works opportunities.
Commenting on his appointment Simon said: “After a long period working for the same company I needed a change and a fresh challenge. Tecserv has a great reputation within the fire and security industry, and I am excited about the opportunity to help them develop their East Anglian presence based on my previous skills and experience.”
Colin Milligan, Tecserv UK sales director, added: “Simon brings a wide range of managerial, supervisory and technical expertise to the team and has a wide network of contacts in East Anglia that we hope will help to expand our profile and reputation further in this region.”
Two new starters bolster APSS team
Lincolnshire-based commercial interior design and fit out firm APSS has taken on two new recruits to help strengthen the team as demand continues to rise for office design and refurbishments post pandemic.
About to enter its 25th year of business, the office refurbishment company has received increased levels of enquiries to help businesses across the UK adapt their workplace to reflect a more flexible and hybrid working environment.
Both Simon Atkinson and Lee Morris join the team to support customers in their journey to a more efficient and productive workspace.
Simon has joined as a Business Development Manager focusing on potential new customers across the East Midlands. He has seven years’ experience within the commercial interiors industry and in previous roles he strategically focused on opening new pipeline opportunities.
Lee has joined the project management team and will be helping to deliver projects to the highest standards for clients across the UK, ensuring the company fulfils its Customer Satisfaction Promise by helping sites to run efficiently. He will ensure accurate costings and orders, so projects are completed on time and within budget. Lee has moved from Leicester City Football Club where he helped deliver internal projects with the stadium and training facilities.
Stuart Marsland, sales director for the office refurbishment company, said: “APSS is going from strength to strength as the business continues its growth. As a company, we are now looking forward to how we can help businesses achieve their ideal look in 2022 with a full design and build, refurbishment or to expand on their existing space with a purpose-built office mezzanine.
“Simon’s previous experience gives him a fantastic starting point as he already knows the ins and outs of the industry and his experience will be invaluable in driving new business within APSS. Whilst Lee is in the perfect position to manage our customers’ expectations on site.”
Since July, APSS has recruited five new staff and is still looking for more.
Streets cover the Self Assessment Tax Return, R&D tax credits, workforce shortages and more in latest business support update
In its latest Business Support Update, Streets Chartered Accountants dives into Self Assessment Tax Returns in the pandemic period, how businesses are missing out on R&D tax credits, the problem of workforce shortages, amongst other topics.
Self Assessment in the Pandemic Period
The deadline for submitting your 2020/2021 Self Assessment Tax Return online is 31 January 2022 and there is not expected to be an extension like 2019/2020. An automatic £100 late filing penalty will apply if submitted late without a reasonable excuse. Those who regularly submit tax returns will be familiar with the usual requirements for what they need to declare or what they can claim on their Self Assessment Tax Returns, but there are extra considerations to take into account this year as a result of the pandemic.
Podcast: Are You Taking Advantage of your R&D Tax Credits?
In this session, Streets Corporate Tax Partner, Mustafa Rafik looks at Research and Development (R&D) tax credits and why he feels businesses are missing out on this valuable source of financial relief. He dispels the myth that R&D is only something carried out by people in white coats in labs and seeks to highlight that businesses are often undertaking such work without knowing it.
Offshore Assets
HMRC have access to overseas accounts which may be in your name. Many financial institutions and banks have signed up to provide this information to HMRC. If you have any income or gains from assets held overseas you should declare that income via your self-assessment. Failure to declare could result in additional interest, penalties and in some cases even prosecution.
Workforce shortages – employers no longer have the upper hand or call the shots
It looks like workforce shortages are here to stay and are going to affect more and more businesses, not just those looking for lorry drivers or those to work in care, hospitality, food and agriculture sectors. Signs are that the professions and those in the tech sector, along with others, are seeing not just short-term labour shortages but what looks like longer term short falls.
C P Timber Recognised in National Timber Trade Journal Awards 2021
Streets’ client C P Timber, based in Hertford, have recently been awarded Hardwood Trader of the Year in the industry’s Timber Trade Journal Awards 2021. The Awards recognise service excellence and product quality across the timber industry in the key areas of wood-based panels, softwood, hardwood, joinery, structural timber systems and garden products.
SmartMoney Magazine – November/December 2021
SmartMoney is the bi-monthly magazine from Streets Financial Consulting plc, our independent financial planning arm, full of news and helpful information on personal financial planning.
Back in the room: Fiona Duncan-Steer, founder of RSViP Business Networking Agency
Fiona Duncan-Steer, founder of RSViP Business Networking Agency, reflects on her business’s return to live events.
I felt it apt to this month write about my experiences since the events and hospitality industry have reopened their doors and having been fully immersed in this industry for the best part of fifteen years, I can safely say that now I have seen it all.
No one could have foreseen the pandemic and the effects it has had on us all as both individuals and as businesses, and whilst we have all had to navigate our way through it in different ways, the events industry is one that has sadly been most effected.
Yes, live events from March 2020 were put on hold indefinitely with no real indication of when they would return and many of us were left with no choice but to adapt our event models to fit through the screen, creating new formats, taking on new roles and adjusting to tech we had never had to encounter before. I was no different in that I donned a new hat as an interviewer, relaunched my events as ‘virtual’ and completely turned the format I had consistently rolled out for the last ten plus years on its head. Thankfully my creative decision paid off and, if anything, those who participated in the digital events were grateful for the platform of connection and I too learnt a lot, however come July 2021 it was time to get back to it – time to get back in the room.
Even though events are my forte, I won’t pretend it wasn’t daunting re-adjusting our events back from virtual to live again. Re-igniting new conversations, reconnecting with those who had gone quiet during lockdown and generally rebecoming an event’s organiser. It felt good to be liaising with venues again and having real and raw conversations with the staff about how challenging this period had been for them. My favourite element of my job is the people, learning about their businesses, what their aims and objectives are and looking at creative ways of how I can help them to achieve their vision, and collaboration has and always will be one of the strongest ways to achieve this.
Bringing back my first live event in September was both a nerve wracking and exciting experience. It was time. Thankfully we had a full house with almost one hundred and fifty business professionals in attendance, all eager to see one another again, with slightly apprehensive smiles on their faces as they approached the entrance. We operated a traffic light system for our name badges which gave our guests the option to select one of three colours to wear as a name sticker dependent upon how comfortable they were with physical human contact – green being ‘happy to handshake’ and red being ‘please keep at a distance’. Interestingly, ninety five percent of attendees opted for a green badge, no one selected red and the remaining five percent selected amber to represent elbow bumps!
This for us was a very useful social experiment to gauge how people are currently feeling about the situation overall, and whilst it’s not completely accurate to a specially conducted survey, given that those who attended were there because they are to some extent happy to be in a room with other humans again, it’s worth taking into account the many others who no doubt chose to stay silent in their continuing anxiety about leaving their homes to network. Despite this, it was still a positive reaction to what we see as the world slowly re-awakening.
My prediction for events going forward is that gradually, month by month, people will gain more confidence to interact in the room again and as more events and opportunities arise, so will the attendance numbers. To summarise, my experience has been one of positivity so far and thank goodness, we have to get back to business at some point, right?
For more details of Fiona’s RSViP events, see her website – www.rsvipnetwork.co.uk
Fiona Duncan-Steer, RSViP
www.fionaduncansteer.com
