New offers revealed for Ideagen

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New offers revealed for Ideagen

After it was revealed that private equity firm Cinven was in the early stages of considering a possible bid for Ideagen, it has now confirmed it does not intend to move forward with an offer.

The Nottinghamshire-based software firm has now, however, announced that it has received further proposals regarding cash offers for the company from Astorg and Hg.

Astorg and Hg are required to either announce a firm intention to make an offer or announce that they do not intend to make an offer by 2 June 2022.

This morning (5 May) Ideagen said: “The Board of Ideagen notes the announcement by Cinven Limited, adviser to the managing general partners of the Cinven funds (“Cinven“) that it does not intend to make an offer for the company.

“Since the Cinven announcement on 14 April 2022, Ideagen has received proposals regarding cash offers for the company from Astorg and Hg.”

It continued: “There can be no certainty that a firm offer will be made, nor as to the terms of any such offer. Further announcements will be made in due course as appropriate.”

Chambers of Commerce appoint new vice presidents

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Chambers of Commerce appoint new vice presidents

Two dynamic business leaders have been given key positions with organisations that represent the interests of more than 1,000 companies.

Scott Jones is well known across the Midlands and the south of England as the CEO of full service digital marketing agency 123 Internet Group whilst Reemesh Patel is the driving force behind several award winning businesses, including The SK Group and M&M Family Investments.

They have now taken up essential roles as vice presidents on the board of business support organisations Northamptonshire Chamber of Commerce and Milton Keynes Chamber of Commerce.

Scott, who has been a member of both Chambers for seven years and one of their Platinum business partners since 2019, said: “I’m hugely excited to be moving from a non-executive role on the board to the role of vice president.

“These Chambers have won a host of awards over recent years because they consistently put the needs of their members at the heart of everything they do. I know they’ve got lots of exciting developments planned for this year and I can’t wait to be a part of them.”

Reemesh originally joined the board three years ago and has belonged to Northamptonshire Chamber since 2017.

He said: “I’m truly honoured to be voted in as vice president alongside Scott. Northamptonshire Chamber and Milton Keynes Chamber are already great Chambers but I’m very excited to help move them further forward for the benefit of all our members.”

Chamber board president Robyn Allen, of personal insurance specialists Robyn Allen Solutions Ltd, welcomed Scott and Reemesh to their new roles. She added: “I’m incredibly excited to have Reemesh and Scott supporting me in leading the board.

“Between the three of us we have a wide variety of skills and knowledge and our businesses are spread across Northamptonshire and Milton Keynes so we’re in a position to represent the membership incredibly well.

“I know they’re going to do a great job acting on behalf of the members and I can’t wait to see them in action.”

Latest R3 Midlands research paints challenging picture as East Midlands insolvency-related activities rise

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Latest R3 Midlands research paints challenging picture as East Midlands insolvency-related activities rise

Latest research from the Midlands branch of national insolvency and restructuring trade body R3 paints a challenging picture for the East Midlands economy, with indications that business start-ups are increasing, while companies are having to fight harder to survive.

R3’s figures, which are based on an analysis of data from business intelligence provider Creditsafe, highlight that the East Midlands had 2675 start-up companies in March, an increase of 418 on the previous month’s figure of 2257. Conversely, the region also had 237 insolvency-related activities last month, an increase of 143 on February’s statistic of 94.

The R3 research also indicates that, in March, the number of East Midlands companies with late payments was 26,388, a marginal decrease on February’s figure of 26,581.

R3 Midlands chair Eddie Williams, a partner at PwC in the region, said: “These figures reveal the extent to which local businesses are having to fight to survive and grow in this current economic climate. While the increasing number of start-ups in the region is positive, it is obvious that late payments are likely to be a significant contributory factor in local business insolvencies.

“Both the global and local economies are hugely challenging at present and impact heavily on the relatively high number of small businesses we have in the East Midlands, particularly those in vulnerable industry sectors such as hospitality and tourism.

“It is therefore even more crucial for local business owners, whether in start-ups or established companies, to be on top of their invoice ledgers and tackle late payments and the impact of bad debts as soon as they become evident.

“For those businesses which are already struggling, or whose directors may be worried about its situation, the sooner professional advice is sought, the more opportunities may be available for finding the best possible outcome. Many R3 members offer a free consultation to those who are looking for such help and want to explore their options.”

M-EC helps Leicester Riders to engineer a winning development plan

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M-EC helps Leicester Riders to engineer a winning development plan

Leicestershire-based development technical consultants, M-EC, has worked alongside Leicester Riders, HSSP Architects and selected contractor, C3 Construction, to secure planning for a 1,200 metre squared extension at Morningside Arena.

Home to the Leicester Riders basketball squad, the Morningside Arena is the largest indoor venue in the city, with a capacity for up to 3,000 people. It stages many national and international sporting and cultural events and acts as a community sports arena.

The extension will increase the Arena’s basketball capacity from three courts to five. By adding two outdoor courts and an exhibition hall, it will create the largest basketball facility in the country in a bid to become the home of UK basketball. Match-day, outdoor catering facilities were also included in the plans, further enhancing the basketball fans’ experience.

M-EC delivered a Transport Statement, Vehicle Tracking and Access Designs in the project pre-planning stages, as well as detailed levels design for the Car Park to ensure the levels did not increase in height within the Flood extents from the adjacent River, and detailed Surface Water Drainage Design.

Tim Rose, director at M-EC, said: “We were pleased to be instructed on this local project, working alongside the wider project team. The team included HSSP Architects, with whom we have a good working relationship, having worked together on a number of previous projects.

“We were delighted with the successful planning outcome for the 1,200m² extension, which following completion, will enhance the sports arena for the people of Leicester to enjoy. We continue to work on this project following planning approval, and we are looking forward to seeing the project come to fruition.”

Post planning, M-EC continues to support the project team with civil engineering consultancy, continued drainage and levels work and Section 278 works assessments, where changes are required to Memory Lane to facilitate access into the car park.

Hinckley-based online retailer launches major volunteering programme for its staff

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Hinckley-based online retailer launches major volunteering programme for its staff
A Midlands-based online retailer has launched a major volunteering programme for its staff. UK Flooring Direct, which employs around 200 people across sites in Hinckley and Coventry, has developed a new Employer Supported Volunteering (ESV) programme that will see every member of the team given a fully-paid day to offer their services to a charity or good cause. The company has partnered with four organisations across the Coventry, Warwickshire and Leicestershire area to offer its team options for their day of volunteering. They include the RSPCA Coventry and District Branch, Hinckley Homeless Group, Shine A Light (a Coventry-based charity that supports families with children affected by cancer), and Warwickshire-based Make Good Grow. Make Good Grow was founded two years ago as a social enterprise and offers a matching service between businesses and individuals who want to volunteer and good causes that need support. It means the individual can offer their own skillset to charity or good cause, from building a website to accountancy services and Make Good Grow already has 170 organisations signed up and looking for support. Faye Summers, UK Flooring Direct’s HR director, said the company wanted to give staff options when volunteering but they were also open to finding good causes of their own to support. She said: “UK Flooring Direct has always prided itself on being a positive contributor to the local economy and to the local community and our new ESV programme really builds on that. “Every member of our team will be given a fully paid day where they can go and volunteer and make a difference to a good cause. “It’s a great way to engage the team and the feedback we’ve had has been really positive, particularly at a time when we know things are tough for a lot of people. The UK Flooring Direct team wants to help make a difference. “There is strong evidence that volunteering as team helps to boost morale and wellbeing, which is another really positive reason for undertaking this ESV programme. “We’ve linked up with four local organisations to offer some initial options to the team but we also know that many will have charities and good causes that are close to their own hearts and may choose to offer their support in that direction. “We are thrilled to launch and can’t wait to see the great work get started.” Rob Langley-Swain, of Make Good Grow, said: “It’s great to be partnering with UK Flooring Direct in this way. We’ve seen all of the exciting news coming out of the business over the past couple of years so we’re really pleased to have them on board as a partner. “Being a volunteer and utilising your professional skills is so impactful to good causes and that’s where we come in. We can match people with organisations that need those skills for a certain piece of work or project. “It’s a great way to give back.”

Works commence onsite at new luxury development in Bramcote

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Works commence onsite at new luxury development in Bramcote

Nottingham-based luxury home developer, North Sands Developments, has begun construction on its second residential scheme on Cow Lane in Bramcote, Nottingham, with the first look revealed.

The development, which is located in the Bramcote Village Conservation area near Beeston, is to be named The Grove and will comprise of three, large, five-bedroom family homes, each with a white render finish and expansive windows.

The development is surrounded by a protected woodland and two of the homes feature their own private share of the woodland.

Having already cleared the site, North Sands Developments has started works on the homes, due to complete in Spring 2023.

James Hartley, director at North Sands Developments, said: “Following the success of our first Cow Lane development, we are extremely excited to be building more exclusive, executive style homes once again in such a stunning, leafy, sought-after location. We always ensure to design and build our homes to a high specification and ensure they seamlessly fit in with their surroundings.

“What I love most about this site is that it sits in such a peaceful, breath-taking, mature woodland setting on Cow Lane – each home will feature large windows that will frame these surroundings and prospective buyers can get a real feel for what this will look like in the new imagery we’ve released.

“We already have one of the homes under offer prior to any formal marketing through our new ‘Northsands Bespoke’ offering; this means that early purchasers will be able to design and choose the internal finishes themselves and have the North Sands team there to hold their hand through what is such a unique and special experience of having their dream home built for them.

“Interiors and finishes play a huge part in purchasing decisions; in short, the purchasers don’t have to compromise as everything can be bespoke to them, which is not something you can always say when you purchase a home.

“Having such a setting to call home and so close to Nottingham city centre, Beeston, Boots, QMC Hospital and the University, it’s incredibly quiet and one of the most desirable locations in Nottinghamshire. Beeston in particular is really evolving – with plentiful shops, retail outlets, restaurants and the brand-new cinema, it has everything on the doorstep without even having to go into town, though town is incredibly accessible by road, tram and train. Major road routes including the A52 and M1 are also in close range.”

Jules Hunt, sales director at FHP Living, said: “We are so pleased to be acting for North Sands development again on yet another fantastic site on Cow Lane. Following the success of 41-47 Cow Lane, we expect ‘The Grove’ to be incredibly popular with prospective buyers.”

Ground-breaking event marks latest milestone for council housing in Chesterfield

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Ground-breaking event marks latest milestone for council housing in Chesterfield
A ground-breaking event held on the site of a new housing development has marked the latest milestone in Chesterfield Borough Council’s commitment to increasing the number of affordable council homes in the borough. The construction of 10 new homes in Middlecroft is now underway as local councillors joined representatives from Robert Woodhead Ltd, the council’s main contractor, on site at Wensley Way to kick-start the new project. This latest development will see the addition of two three-bed bungalows on Rowsley Crescent, two two-bed bungalows on Court Place, four two-bed bungalows on Wensley Way and two two-bedroom houses on Paisley Close. In response to the climate emergency that was declared by council leaders in July 2019, each of the properties will benefit from high levels of energy efficiency, including enhanced levels of insulation and the installation of energy efficient boilers and lighting throughout. An electrical vehicle charging point will also be installed at each property to help encourage lower carbon transport options. Each of the houses and bungalows will be fully landscaped with tarmac driveways and turfed lawns. It comes as local families are set to move into new homes at Badger Croft in Loundsley Green, with the recent completion of the largest development of council homes in the borough for a generation, which has seen an additional 21 new homes added to the council’s housing register. Councillor Chris Ludlow, Chesterfield Borough Council’s cabinet member for housing, said: “This is another significant milestone for us in our efforts to increase the number of affordable council homes across the borough. We’re really excited to watch the latest development progress. “The new properties will provide affordable, modern and accessible homes for local people and the energy efficiency benefits will offer affordable warmth to our tenants whilst also allowing us to contribute to a more sustainable future for us all.” Jack Snowdon, senior project manager at Robert Woodhead Ltd, said: “We are delighted to be starting on this project for Chesterfield Borough Council to provide the much-needed additional affordable social housing in the area. “The bungalows will be very well insulated and therefore should aid in the reduction of fuel bills, whilst also creating a comfortable living environment throughout the year for the occupiers. This coupled with energy efficient boilers and lighting will assist in responding to the climate emergency and creating more affordable running costs.”

heb secure new Heron Foods store for Chilwell

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heb secure new Heron Foods store for Chilwell
Acting on behalf of well-known property company Hofton & Son, heb have secured the letting of a former Sainsbury’s local store at Blenheim Drive, Chilwell.
The store was closed by Sainsbury’s last year and HEB have secured a deal for it to be re-occupied by Heron Frozen Foods.
“This densely populated area of Chilwell has been somewhat lacking a convenience store facility since Sainsbury’s decided to close,” said Robert Maxey of heb Surveyors. “It was therefore pleasing to see Heron step in to the gap and I do not doubt their store will be a fantastic success and welcomed by local shoppers.”
The store is planned to open on 24 May and Heron are understood to be currently recruiting staff.
Heron were represented by James Lamming at Barker Proudlove in Leeds.

Nottinghamshire ambulance services business sold in MBI

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Nottinghamshire ambulance services business sold in MBI

Alison and Anthony Corbett have sold Nottinghamshire-based Ambulance Services, B.N.Gibson Limited to Tim and Rebecca Hawley as part of a Management Buy-In (MBI) transaction.

Alison and Anthony will remain involved in the business for a period to ensure a smooth and successful transition. B.N. Gibson is one of the longest established private ambulance services in the UK.

Shorts teamed up with MD Law to act as lead advisors and legal representatives to Alison and Anthony Corbett.

Andy Ryder, corporate finance partner with Shorts, says: “We are delighted to have advised Alison and Anthony on the successful completion of this transaction. The sale of the business to an MBI candidate whom they have known for a long time feels like a perfect route to ensure the continuing success of the business under new ownership whilst maintaining the well-established ‘family’ culture of the company.”

Corporate partner at MD Law, James Burdekin, says: “It was a pleasure to assist Alison and Anthony with the successful transition of the business to new owners, and we are very confident that the business will go from strength to strength under its new ownership.”

Anthony and Alison Corbett said: “We cannot thank Shorts enough for the support and advice they have provided over the last 8 years. Shorts have guided us through the sales of two businesses which was our long term goal and have been there for us every step of the way.”

Accountancy franchise opens new site in Leicester

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Accountancy franchise opens new site in Leicester
TaxAssist Accountants franchisee, Jaz Grewal, has opened a new site in Leicester with the support of a five-figure funding package from HSBC UK. Having completed his ACA qualification, the entrepreneur will use HSBC UK funding to support the business with start-up costs, including the refurbishment of a new shop front on Leicester’s Welford Road. Furthermore, Jaz has used the funding to support digital marketing efforts as he looks to establish the awareness of TaxAssist in the city. TaxAssist Leicester will also look to hire a number of new employees from the local area, including an office manager and a trainee accountant. As the business grows, it will also onboard an additional qualified accountant. Jaz Grewal, TaxAssist Accountants Leicester, said: “It’s incredibly exciting to be opening a new TaxAssist outlet that will offer vital accountancy support to local businesses across Leicester. The support from HSBC UK has been invaluable in allowing us to create a physical high street presence, which will help to deliver value in the area by championing small businesses as the company grows.” Molly Ting Jahans, relationship manager at HSBC UK, added: “TaxAssist Accountants have a clear commitment to supporting local small businesses so we’re confident the opening of a new site in Leicester will benefit the wider regional economy and create jobs in the local area. We look forward to seeing the success of this new branch over the coming months.” Founded in 1995, TaxAssist Accountants provide tax accountancy services and advice for small businesses in the UK, including end of year accounts, bookkeeping and tax return services, with the business operating across 400 sites in the UK.
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