Multi-million pound acquisition of Leicestershire pet products firm
Leicestershire business Custom Vet Products (CVP) has been acquired by major European animal health product firm Swedencare AB in a deal valued at more than £10m in total.
CVP, which has its headquarters in Shepshed and sells its products predominantly through veterinary practices in the UK and some European countries, has recently increased its manufacturing capabilities
It will continue to be led by current Managing Director David Ryder in the UK, alongside the existing management team, but will be renamed Vetio UK.
Announcing the deal to the stock exchange, Swedencare said the addition of CVP to its business would give it a strong presence in the manufacturing and development market in the UK and Europe.
Christian Hunt, corporate partner in Bevan Brittan’s Leeds office, said the transaction was also a strong outcome for CVP and its team in Leicestershire, giving them a new platform from which to grow their business.
“It’s been fantastic to support CVP on this transaction and to see first-hand the excellent strategic fit between this business and Swedencare. It represents an exciting opportunity for further growth and development in the UK and Europe and I look forward to working with them on their future plans,” he said.
“It is a transaction which shows that, if you have a good product and good offering, you can still get successful deals done and achieve full value even in challenging market conditions.”
Andy Haigh, partner at BHP Corporate Finance, said: “I am really pleased that we were able to support and advise David and the CVP shareholders on the company’s successful sale to Swedencare. It is another great example of our execution capability in cross-border transactions.
“Animal health is an exciting growth market and I fully expect CVP to thrive under Swedencare’s ownership – it is a great home for the business to develop and grow.”
David Ryder said: “In recent months we have already started collaborating with some Swedencare subsidiaries. I firmly believe that the opportunity of being a part of Swedencare will provide superb synergy and bring fantastic opportunities to expand more rapidly into the UK and European Markets.
“Swedencare’s proven international leadership, ethos and expertise directly in our area is something we are really excited about being a part of. We look forward to maximising future growth by making superb products for our partners and customers.”
Håkan Lagerberg, CEO of Swedencare, said: “Through the acquisition of CVP, we can accelerate our plans to launch soft chews on the European markets. This will both help us to add new products to our existing brands fast and also enable us to facilitate a European launch for some of our important US-based private label and contract manufacturing customers.
“David and his team have done a fantastic job and have a unique competence in developing soft chews. Together with our own competences from Vetio and Garmon we are creating an important player for the European soft chew market. CVP will be renamed VetioUK as the first entity in Europe for Vetio which now means that we have own manufacturing on both continents.”
Ground-breaking ceremony marks start of building works on 40,000 sq ft development in Fleckney
The ground has been broken on the start of a 34 week project to build a new commercial development in Fleckney, Leicestershire. The development is located on Churchill Way and the first phase will provide over 12,000 sqft of high quality office and workshop space which will be occupied by a national organisation and benefit the economy by creating significant new employment opportunities for local people. The second phase of the development has detailed planning consent for over 40,000 sq.ft of new commercial space and will provide substantial further employment opportunities for the area.
The land was bought to market by Loughborough based specialist land development and property consultancy Mather Jamie. Alex Reid, Director, said: “This site presented an exciting opportunity for a prospective buyer looking to invest in an ideally-situated development land with planning approval for a range of uses. It has been great to play our part in bringing a much needed and exciting new development to the area.”
Works are expected to be completed by the end of June 2023 and Wilten Construction, based in Market Harborough, has been appointed by the developer, VentURe Properties Group as the main contractor responsible for the full turnkey delivery of the project which will include design, build and office fit out.
Commenting, Matt Moore, Founder of VentURe Properties, said: “VentURe aims to develop commercial space and residential homes across the wider Midlands region. Our Fleckney development represents a significant investment by ourselves and our occupiers and we are delighted to be working with Wilten Construction on the delivery of a development which will benefit the Leicestershire and Harborough District.”
Matt Fry, Director at Wilten Construction, said: “This is another fantastic ground-breaking ceremony for us and we had a great day hosting the project team on site. We have worked hard developing the scheme to meet the clients budgetary and programme expectations and to see this project taking shape on site is a proud accomplishment. We look forward to demonstrating our best-in-class service as this project progresses and building on our relationships with everyone involved to create ongoing reciprocal partnerships.”
Other advisers and project partners on the development include RJA Consultants who are acting as the employers agent, Corporate Architecture Limited, engineering consultants Jackson Purdue Lever and the approved inspector, Assent Building Control Limited.
East Midlands to lose numerous McColl’s stores after Morrisons’ closure decision
Morrisons have revealed plans to close 132 unprofitable McColl’s stores across the country just a short time after receiving the green light from competition regulators on the multi million buyout of the troubled convenience store group.
The decision is expected to affect numerous McColl stores in our region.
The Bradford based supermarket giant acquired the troubled chain for £190 million back in May, fending off a rival offer at that time from Asda.
After competition regulators gave the green light for the takeover, Morrisons unveiled their closure plans.
Morrisons said, that whist 132 stores have no realistic prospect of achieving a breakeven position, it does expect some McColl’s stores to return to profitability as part of its turnaround plans.
The majority of the closures are due to take place this year, and 55 of the stores that include a Post Office counter will close in the coming year.
Morrisons said every affected worker would be offered alternative employment at a nearby McColl’s store, Morrisons store, logistics operation or foodmaking centre.
Joseph Sutton, Morrisons convenience, online and wholesale director, said: “We have a great deal of work to do but there’s no question that McColl’s is a business with strong potential.
“I’m confident that the combination of McColl’s conveniently located stores and great colleagues together with Morrisons scale, brand, systems and fresh food expertise will lead to a transformation of the business.
“We very much regret the proposed closure of 132 loss-making stores but it is, very sadly, an important step towards the regeneration of the business.
“I am confident that McColl’s can, in the Morrisons family, once again become a growing, thriving and vibrant convenience business serving local communities across the UK.”
Last month, the UK competition regulator paved the way for the clearance of Morrisons £190m rescue deal on the condition it sold 28 McColl’s stores in 35 areas where the two retailers compete.
All 16,000 McColl’s staff were transferred to Morrisons as part of the deal.
Nottingham law firm promotes its first non-lawyer to director
Nottingham law firm Actons has promoted its first non-lawyer as a director.
Practice Manager Matt Coleman has taken on the role of Chief Operations Officer. With over eighteen years’ experience in the legal sector, Matt joined the firm in 2014 initially as the firm’s Marketing & Business Development Manager before becoming Practice Manager in August 2020.
Matt becomes the first non-lawyer to become a Director, a move that was enabled by the firm’s conversion to an ABS (alternative business structure) in 2019.
Simon Dakin, Chairman of Actons, commented: “I am delighted to welcome Matt as a Director of the firm. Since switching from Marketing & Business Development Manager to Practice Manager during the COVID lockdown, Matt has shown great enthusiasm and aptitude in developing additional law firm management skills. I am confident that he will continue his development and make a success of this opportunity. Matt will be our first non-lawyer Director, which is a great achievement, and he will play a key role in our future success.”
“The next twelve months are lining up to be an exciting period for the firm, as we welcome more great people to join our team and take forward some other key projects.”
Multi-Million pound hotel renovation wins national award
A multi-million-pound project backed by the D2N2 Local Enterprise Partnership to turn a historic building in Buxton into a luxurious hotel has won a top national award.
The £68 million Buxton Crescent Health Spa Hotel project was named Refurbishment/Revitalisation Project of the Year at the 2022 RICS Awards Grand Final.
Held in London, the awards, which are run by property industry trade body the Royal Institution of Chartered Surveyors, brought together winners from 12 regional ceremonies across the UK.
They celebrate the UK’s most inspirational projects that are having a significant positive impact on the communities they serve.
Ensana Hotels opened Buxton Crescent Health Spa Hotel in 2020.
Created at one of England’s most significant Georgian architectural buildings, the hotel revives the water wellness traditions of the historic spa town of Buxton, with guests able to experience the therapeutic qualities of the water for themselves.
The property comprises 81 rooms and suites and is home to three pools, including the ‘thermal pool’, which is a fully refurbished Victorian pool boasting the unique feature of having Buxton mineral rich water flowing into it, which is heated and left chemically untreated.
The transformation was made possible thanks to one of the largest grants ever awarded from the National Lottery Heritage Fund and significant support from other stakeholders, including the D2N2 LEP through the Local Growth Fund.
Chairman of the RICS judging panel David Brooks-Wilson said: “The judging panel and I were so impressed with the dedication of the teams behind these winning projects.
“They are a true testament to the tireless dedication of industry professionals across the UK. Their talent and collaborative approaches have resulted in exemplary and innovative schemes that really do represent the very best built projects across the regions.
“Each of the winning projects is having a profoundly positive impact on their local area and RICS is delighted to recognise the hard work that went behind ensuring these projects were delivered successfully, particularly in such challenging and uncertain times as we navigated through the pandemic.”
Derby rail giant to demonstrate rail’s key role at COP27
Rail giant Alstom is set to demonstrate the key role rail it can play in global decarbonisation efforts at the forthcoming COP27 climate conference.
A delegation from the firm, which has its UK train-making site in Derby, will be attending the 27th United Nations Climate Change Conference, to be held from 6 to 18 November, in Sharm El Sheikh, Egypt.
During the second week of the conference, Alstom will participate in transport focused events with other changemakers, where discussions about sustainable mobility and the importance of women’s roles in transforming and decarbonising transport, will take place.
Cecile Texier, Alstom’s vice-president for CSR and sustainability, said: “Strong investment in rail will enable the decarbonisation of transport, in addition to many other benefits essential to sustainable development such as equal access to transport, social progress and economic development.
“Transport accounts for more than a quarter of global energy consumption; it is one of the human activities that continues to cause C02 emissions to rise.”
Alstom is considered to be a global leader in smart and sustainable mobility.
COP27 is an opportunity for the firm to showcase the progress and options available to decarbonise the transport sector, as well as exchange on green transport solutions for the future.
Alstom has more than 20 years of expertise in low carbon technology and has been participating in the conference since COP21 in Paris.
At COP27, it will promote the critical role public transport, specifically rail mobility solutions, will play in any country’s sustainable development efforts to address climate change issues.
Alstom works with its customers to design and deliver innovative and environmentally friendly solutions.
Today, it is the only rail player that offers the entire scope of green traction solutions and in-house fuel cell technology, and also has battery and hydrogen trains in passenger operation.
Cecile said: “COP27 is an opportunity for Alstom to showcase its commitment to support Net Zero mobility by building innovative, sustainable solutions with a lower carbon footprint, while actively contributing to public debates on sustainable development policies.”
Hucknall Business Park achieves 100% occupancy with two latest lettings
The final two lettings have been snapped up on Whyburn Business Park, the new build scheme of small sized industrial units situated on an established and popular industrial location in Hucknall.
Phase 1 was completed in late Q1 / early Q2 2022, with phase 2 in discussions to provide further stock for small to medium sized units. The rental tones achieved throughout the site were £8.00 per sq. ft, a promising figure for a new build scheme in Hucknall.
Phase 1, which consisted of 9 units, comprised a mixture of 1,765 sq. ft and 2,130 sq. ft of industrial / warehouse space with excellent eaves height, yard space and generous parking. The new build development scheme has certainly proved to be popular with occupation now at 100% and the demand continuing to be apparent on the site. The number of enquiries received on the units indicates that the interest on the next two phases is going to remain strong.
Amy Howard, Surveyor in FHP Property Consultants’ Industrial Team comments: “It has been a delight to work alongside Total Aggregates Ltd and Total Reclaims Ltd in this scheme and to achieve full occupancy. The site has shown to be a popular destination for occupiers from the start and it was promising to see the amount of interest we were still receiving throughout the marketing of the units. It confirmed the limited stock available for sub-2,000 sq. ft units compared to the high level of demand that is still apparent.
The diverse use of occupiers throughout is great to see and something that we all hoped to achieve for on the site. The success in Hucknall for warehouse occupation continues and Whyburn Business Park has helped to service this sector of the industrial market. I look forward to working alongside both Total Aggregates Ltd and Total Reclaims Ltd in the future.”
Anthony Barrowcliffe, Associate Director in FHP Property Consultants’ Industrial Team adds:“This is an excellent scheme in an extremely well-established industrial location. It has been a pleasure working alongside Richard and Melvin on this scheme and I look forward to future schemes/projects to follow.”
Lincolnshire vineyard comes to the market
An award winning vineyard and winery on the edge of the Lincolnshire Wolds has gone up for sale for just £700,000.
Looking towards Caistor where the Romans made wine 2000 years ago, Somerby is currently planted with 9,000 vines, the operation is capable of vinifying 20,000 litres and has made a name for itself in recent years, having picked up awards at both the UKVA and IWC competitions.
The vines currently grown are Pinot Noir, Solaris and Rondo and there is the potential to expand the operation by planting up to 3,000 more vines. The vendor points out that, in addition to the opportunity to invest and expand within existing boundaries, there is also the potential to rent a further 2.5 acres of additional land planted with 1,500 vines, subject to negotiations. As such, a purchaser could increase production from 20,000 to 150,000 litres, should they wish.
Henry King, farm agent at Savills in Lincoln who is handling the sale, said: “It is very rare that such an established vineyard and winery is brought to the market, let alone one that has such good potential to be expanded and with the ability to produce and bottle on-site. With the future of UK viticulture looking rather exciting, the sale of Somerby represents a fantastic investment opportunity with the potential to further adapt or extend and create a supplementary revenue stream, such as glamping and winery tours, subject to the necessary consents.”
Somerby Vineyard and Winery is being sold by Savills.
NG expands again with new department and key hire
Commercial property specialist NG Chartered Surveyors is expanding with a fresh hire and new Facilities Management division.
The Nottingham-based company has appointed experienced property professional Jamie Pervin to head up the new offering. Jamie will work alongside NG’s growing Management department and assist the Building Surveying team.
Jamie worked as a Property Manager for an estate agency, before moving onto a Midlands commercial property consultant, where he spent almost six years. He is studying for my APC in Facilities Management
Jamie said: “NG has a fantastic reputation within the East Midlands commercial property sector. The opportunity to join a progressive, fast-growing company – and to head up a new arm of the business – was an offer I couldn’t refuse.”
“I look forward to working with my new colleagues at NG, and with new clients – and those who I already have a relationship with.
James McArthur, director at NG, added: “It is an exciting time for our company and I am delighted that Jamie has chosen to join us. I look forward to working with him very closely.”
GE Power Conversion gets solar underway in Leicestershire
Specialist solar development company, Ortus Energy, has completed the first phase of a fully funded Power Purchase Agreement (PPA*) for one of the leading electrical engineering organisations, GE Power Conversion.
Ortus Energy have worked in conjunction with GE Power Conversion UK to provide and integrate a 400kW PV system into GE’s Marine Power Test Facility in Leicestershire, UK.
The supply of this system by Ortus has contributed a further part to GE’s journey towards carbon neutrality goals, in line with the organisation’s ongoing corporate commitment to sustainability. GE’s Marine Power Test Facility is now equipped with a 400kWp roof-top system of 962 panels that will save around 70 tonnes of CO2 annually and generate an estimated 315,000 kWhs of clean energy per year to help run the facility.
The four-and-a-half-acre site is dedicated to land-based innovation, test and emulation of full scale, multi-megawatt (MW) integrated electric power and propulsion systems and new energy technologies for naval and other maritime platforms. The facility needs energy to run extensive tests on its electric ship equipment. These include both high and low voltage systems, AC and DC, fixed and variable frequency electrical systems which are all highly configurable and fully interconnected via the land-based, integrated marine micro grid.
The facility’s existing architecture enabled Ortus’ PV system to be accommodated and optimized to work in conjunction with GE’s energy management system and an array of existing energy sources including grid, vessel prime movers, diesel generators, energy storage, and other equipment with varying energy-demand profiles.
To help optimize the solar power utilization, the PV system provided by Ortus was implemented as four separate but interconnectable roof-mounted arrays, to allow the best configurability into the Marine Power Test Facility’s automation and energy management system.
Peter Oram, Sales and Commercial Director at GE Power Conversion UK, said of the collaborative and forward-thinking project: “The system upgrade has been conceived and integrated in such a way that all sources of energy, from fuel to grid supply, can be optimized for efficiency, carbon reduction and operating cost. It’s important for this advanced Marine Power Test Facility and the customers that rely on it, providing a full-scale demonstration of future, greener maritime technologies and their deployment within a micro grid.”
GE, an energy infrastructure leaderis already part of the UK government’s Supply Chains for Net Zero initiative, aimed at driving industrial decarbonization, and this latest solar initiative continues their mission to make operations more sustainable, as well as lowering energy bills in today’s increasingly volatile market.
Phase two will commence in early 2023 at GE Power Conversion’s systems and manufacturing facility in nearby Rugby and has the potential to be nearly five times the size at 1.8MW output.
Having recently signed a deal with international assets investment company, Fiera Infrastructure, to deploy £100m of investments into the UK market, Ortus Energy is a major new player when it comes to guarding against energy uncertainty and currently have 300MW of commercial and industrial solar PV projects in development.
Ortus Managing Director, Alistair Booth explained: “We’re delighted to help GE improve their environmental profile, ESG commitments and carbon footprint, as well as locking-in a sizeable portion of their energy price for 25 years, at no upfront cost. Our fully integrated approach to building, financing and operating distributed energy streamlined the project for them and the solar PV system will be particularly beneficial for the Marine Power Test Facility site, as it looks to decrease its reliance on grid electricity.”
*Commercial & Industrial (C&I) PPAs are longer-term deals that fix a set rate directly from the energy source. They ensure organisations benefit from low-cost, clean energy, without any capital expenditure, that’s independent from the grid and not exposed to the volatility of open-market forces and prices – and increasingly the most cost-effective and sustainable options are distributed renewable energy sources.
