Harrogate firm facilitates MBO at £35m turnover tile business
Harrogate-based CorpFin has been instrumental in a management buyout of UK tile specialist Johnson Tiles, which has a turnover of £35m at its base in Stoke on Trent.
The deal, which precedes a comprehensive restructuring of the business to safeguard the future of the respected British brand, was led by Chris Silverwood and Tony Norwood, partners at corporate finance and restructuring specialists CorpFin.
The management team, led by MD Stephen Dixon, commercial director Rich Kelsall, procurement director Jason Bridges and finance director Melanie Birks has assumed full control of the business having acquired it from former owner Norcros Plc with the full support of all parties.
An £8m revolving credit facility was sourced by CorpFin from Allica Bank, led by Ian Flaxman, head of growth finance, to provide working capital facilities to the new entity.
Chris Silverwood said: “In a challenging time for UK manufacturing, the future of the business demands a root and branch review of strategy in order to establish new firm foundations for success, and the MBO enables the first stage of that process.”
Tony Norwood added: “This was a highly complex situation successfully navigated due to the collaborative and pragmatic approach of the management team and Norcros, both of whom recognised that an MBO was in the best interests of all staff, customers and shareholders.
“The transition to a fully outsourced model, alongside the secured funding package, will allow Johnson Tiles to maintain its market leading position following the buy-out and ensure that the company is ideally placed to benefit from future growth.”
Sheffield building products supplier gives profit warning
SIG, a Sheffield-based supplier of specialist insulation and building products, has warned of lower than expected sales and underlying operating profit.
In a trading update for the year ending 31 December 2024 to date, the business noted that market conditions have remained challenging, with subdued demand in the majority of its markets, reflecting ongoing softness in the building and construction sector.
With weaker than expected trading in recent weeks and a more cautious view of the timing of any potential market improvements, the Board now expects 2024 full year underlying operating profit to be in the range of £20m to £30m – below the current analyst range of £36.7m to £43m.The company also highlighted a Group like-for-like (LFL) sales decline versus the prior year’s May and June of 7%.
SIG said it “continues to perform well relative to its markets and is also continuing to drive cost reductions and efficiency initiatives, which support the continued expectation of a stronger second half performance and will help drive higher profitability as markets recover.”
Green cleaning company’s recycling scheme saves 10,000 plastic containers from landfill
Hull-based green cleaning company Bio-D has helped consumers return more than 10,000 of its 20 litre refill containers as a result of its initiative to further reduce plastic waste.
The company’s ‘No Brainer Container’ scheme was launched in 2021 and encourages customers and suppliers to return their 20 litre Bio-D refill containers to be cleaned, refilled and used again. The 10,000 containers that have now been collected have saved 10 tonnes of plastic from going to landfill or incineration – saving the equivalent CO2 emissions as 1,330 trees would absorb in a year.
Bio-D MD Lloyd Atkin said: “We are over the moon to have reached this incredible milestone so soon. We couldn’t have done this without our customers and suppliers, who are as passionate about sustainability as we are.
“This is a significant environmental achievement for Bio-D and the next step in our ever-evolving green journey.”
The independent company is the UK’s leading manufacturer of environmentally responsible, ethically sound, vegan cleaning products and secured B Corp Certification in 2022. Prioritising reducing plastic waste from the very beginning, it first introduced refill sizes for its products in 1998.
Its closed loop ‘No Brainer Container’ initiative dramatically reduces the amount of plastic used within the company. Each returned container is rinsed, washed, steamed, and dried, before being quality checked, refilled, and reused by Bio-D customers.
Heather Nixon, Bio-D’s sustainability, NPD and regulatory manager, said: “One of Bio-D’s main business objectives is to minimise its environmental impact as much as possible. It is wonderful to see our refill containers, which in themselves were designed to reduce plastic use, make even more of an impact.”
Holmfirth town centre improvement scheme to get underway in July
From Monday 1 July, work will start on the Holmfirth Town Centre Access Plan, a £10.3 million investment scheme to create a more accessible town centre for businesses, residents and visitors.
Initial work starts at Huddersfield Road Car Park, where the existing market hall and footbridge will be replaced with a unique community events space where markets and events will take place throughout the year, drawing in visitors and cultivating the local economy.
Along with electric vehicle points, car parking facilities, widened footbridge and footways, new kerbing, and improved drainage, pavements will be resurfaced which will improve safety in the town centre, the pedestrian crossing on Victoria Street will also be signalised, along with improved street lighting, traffic signals and signage.
David Shepherd, Strategic Director for Growth and Regeneration at Kirklees Council, said: “Holmfirth is a beautiful town, and a fantastic place to live, visit and spend time. The Holmfirth Town Centre Access Plan will give longevity to the area, modernising Holmfirth’s unique offering, whilst embracing and celebrating the town’s world-famous heritage.
“Once complete, the town centre will be much more accessible and enjoyable for all, whilst we continue to help local businesses thrive and boost the local economy, whilst improving congestion, journey times and encourage active travel.
“This is scheme is a collaborative effort by the community, council and the Combined Authority to create a brighter future for Holmfirth.” The Holmfirth Town Centre Access Plan is a partnership project between the council and the West Yorkshire Combined Authority. The scheme aims to help reduce traffic congestion and carbon emissions by prioritising sustainable transport options such as walking, cycling, wheeling and public transport, while ensuring accessibility for all, and supporting the growth and development of the cultural sector.Councils turn to TV personality to promote sustainability in construction industry
East Riding of Yorkshire Council and Hull City Council are joining forces to stage a free-to-attend Construction Summit for businesses from across the sector, hosted by television presenter and DIY expert Mark Millar.
Mr Millar is best known for his roles in DIY SOS, Build Your Dream Home in the Country and Dream Kitchens and Bathrooms, but also appears on Fix Radio’s property development show, Building Ideas.
The DIY expert will lead a varied programme of discussions, inspiring sessions and practical workshops, all aimed at helping businesses to grow, enhance their offering and win new contracts. Approaches to environmentally responsible construction; insights into the procurement process from both sides; and methods of streamlining construction business operations and boosting productivity are among the topics that will be covered.
Attendees will also have plenty of opportunity to engage directly with procurement teams from key national and regional organisations, including Kier, Sewells and Hobson & Porter, as well as East Riding of Yorkshire Council, which will be represented by Construction Framework Manager Stefanie Wright, and Hull City Council’s Mark Homersham.
Mark Millar said: “Those who attend will benefit from the latest knowledge on industry trends and developments; information about new opportunities and forthcoming major projects; an increased awareness of local supply chains and opportunities for collaboration; insights into the supply chain network and how to navigate the market; exclusive ‘meet the buyer’ sessions; and strategies for improving their operational efficiency and sustainability.”
The Construction Summit 2024 is suitable for construction businesses of all sizes from across the Hull and East Yorkshire area that are looking to grow, increase their efficiency and make their operation more sustainable.
Taking place this Thursday, 27 June, from 8.30am to 1pm, at the MKM Stadium in Hull, the summit will focus on the themes of sustainability, efficiency and growth.
New Yorkshire partnership aims to support start-up businesses nationwide
Business experts at Leeds Beckett University have teamed up with marketing agency, GOLD79, in a new partnership to boost the long-term growth and sustainability of start-up businesses across the UK.
A new programme – GOLD79 MINE – has been launched as a collaboration between Leeds Business School at Leeds Beckett and GOLD79. The programme will support talented and entrepreneurial individuals who want to start their own businesses through academic consultancy, expert business support services, mentoring, networking, business infrastructure and financial support.
GOLD79, which has offices in Leeds and London, will also invest a minimum of 10 per cent of its profits into an investment fund for MINE members each year.
Professor Lebene Soga, Academic Director of the Centre for Entrepreneurship and Knowledge Exchange at Leeds Business School, said: “GOLD79’s collaboration with Leeds Beckett University in the launch of GOLD79 MINE is a testament to our shared commitment to fostering innovation in the vibrant Leeds City Region and beyond.
“Through GOLD79 MINE, we aim to provide a dynamic environment for students, graduates, academics and wider talent from the marketing industry to collaborate with entrepreneurial minds, echoing our dedication to driving growth and sustainability in the marketing agency scene.
“This partnership exemplifies our role as an anchor institution, proudly working alongside GOLD79 to offer a central hub in Leeds for engaging with entrepreneurial marketing people, supporting their resilience, and contributing to the overall success for our community.”
A key criterion for all businesses applying to the MINE programme is that they must operate within the guidelines and parameters of both B-Corp and Net Zero.
A series of 12 modules will be delivered over the course of the 12-month programme, with a selection of sessions delivered by Leeds Business School at The Knowledge Exchange business hub at the Rose Bowl in Leeds city centre. Professor Soga has inputted his academic know-how into all modules across the programme, which will be delivered by a range of academic and industry experts across a broad range of themes.
Tamarind Wilson-Flint, co-Founder of GOLD79, said: “We’ve always believed in the transformative power of entrepreneurship. From our beginnings 20 years ago with Jet2.com and Jet2holidays as our first and only client, to becoming industry leaders with a global presence through our L’Attitude network, our journey has been shaped by our ability to spot new opportunities and grow our business.
“Now, the launch of the MINE Programme represents a new chapter for GOLD79. We’re not just looking to the future; we’re actively shaping it. By fostering a community of entrepreneurs, we hope to create a ripple effect that extends far beyond our immediate reach. Our partnership with Leeds Beckett University underscores our commitment to education, innovation, and community engagement.
“Entrepreneurship has the power to transform lives, economies, and societies. It’s a path filled with challenges, but also immense rewards. Through MINE, we’re excited to support the next wave of entrepreneurs, helping them navigate their journeys and achieve their dreams.”
Business golfers raise £22,000 for Sheffield Hospitals Charity
Sheffield businesses have raised more than £22,200 for Sheffield Hospitals Charity at their annual golf day at Hallamshire Golf Club.
The annual event which has been supported by IFM Insurance Brokers over the past nine years has raised a cumulative total of more than £201k.
The Golf Day attracted over 40 teams drawn from local South Yorkshire businesses, and the money raised will support neurology and neurosciences at Sheffield Teaching Hospitals NHS FT Trust.
Alister Smith, Director of IFM Insurance said: “Once again it was great to see so many familiar faces supporting the golf day. The monies raised from this event form a vital part of the ongoing funding of neurology related support in Sheffield, and we are pleased to have played a small part in raising such an amazing sum of money.”
Beth Crackles, CEO of Sheffield Hospitals Charity said: “A huge thank you to IFM Insurance Brokers Ltd for their ongoing support and to everyone who took part in what was an incredible day. This year we are funding an outdoor rehabilitation area at the Northern General, so that neurology patients have a dedicated space to begin regaining their physical independence outside of the ward.
“In research, we recently committed to funding the exploration of potential links between abnormalities in the immune system and epilepsy. We are also continuing to fund research into FSHD – a degenerative neuromuscular disease. The funds we raise make such a big difference to people across Sheffield receiving care and benefitting from research.”
Yorkshire Building Society employees’ Three Peaks Trek raises £48k for FareShare
Yorkshire Building Society employees have raised more than £48,000 for FareShare, the UK’s largest charity tackling the environmental problem of food waste for social good, by taking on the Yorkshire Three Peaks.
Almost 250 colleagues took part in a 10 or 26 mile walk, in torrential rain, wind and even some sunshine, to raise money for the Society’s charity partner.
The money raised will fund Building Skills for the Future programmes in seven of FareShare’s regional centres, including London, Bristol, Merseyside, Milton Keynes, Yorkshire, Edinburgh, and Cardiff. The employability programme supports people who are unemployed into good, sustainable work, addressing one of the root causes of poverty. The Building Skills for the Future programme offers participants coaching, support, practical workshops and work experience to help them to gain full-time employment.
In addition, the partnership will fund an outreach programme offering free, face-to-face sessions and workshops helping participants overcome financial hardship by supporting the building of important skills such as CV writing, job searching and improving financial wellbeing. It is hoped that the two programmes will help 2,500 people improve their employability and help them become more financially resilient.
Tom Simpson, MD of YBS Commercial Mortgages, said: “The walk itself was really challenging but everyone was so determined to complete it and raise as much money as possible for FareShare, Yorkshire Building Society’s charity partner.
“We’re delighted that we’ve managed to raise over £48,000 so far, which will help towards our target of raising £1million to fund Building Skills for the Future programmes that will help to lift over 2,500 people out of financial hardship.”
Polly Bianchi, Director of Fundraising at FareShare, said: “We’re hugely grateful to all the Yorkshire Building Society colleagues who took on this challenge in support of FareShare.
“The Building Skills for the Future employability programme, funded by Yorkshire Building Society, will help thousands of people seek long-term employment, as part of our important work to provide a hand up not a hand out to communities across the UK.”
Leeds design and interiors business acquired to ensure employment for staff following market challenges
Design and interiors business Dowsing & Reynolds has been acquired in a deal that will help it deliver future growth.
Following a recent business restructure and a considered move to enter into an administration process, Dowsing & Reynolds has been acquired by its existing owners, Ally & James Dowsing-Reynolds.
This action has been taken to ensure the stability and security of all current positions within the company following a significant post-pandemic market downturn and a challenging economic climate.
Since launching in 2013, D&R has become an established brand producing design-led fixtures and fittings such as statement lighting and sockets and switches, appearing in The Times Top 100 list.
However, with unprecedented challenges from the pandemic and economic instability causing lower consumer confidence, compounded by the pressures of the ongoing cost of living crisis and the dampened housing market, the industry has been profoundly impacted.
Co-founder James Dowsing-Reynolds explains: “We have restructured the whole business to become more streamlined and this acquisition has been able to secure everyone’s jobs and the future of the brand.
“Our primary focus has been, and will always be, the welfare and security of our dedicated staff, whose hard work and loyalty have been fundamental to our operations. We are committed to maintaining continuity and are grateful for the unwavering support and loyalty from our employees, customers, and suppliers during these times.
“As we embark on this next step of our journey, our commitment to excellence in design remains unchanged. Our team is enthusiastic about the opportunities ahead. We are implementing robust strategies to enhance our operational efficiencies and product offerings, ensuring that Dowsing & Reynolds continues to meet the needs of our customers with high-quality products which help them to create homes and commercial spaces that are loved. We feel really positive about the future.”
Wakefield-based YPO appoints head of procurement
Wakefield-based YPO has appointed Michelle Walker to a new role as head of procurement services.
She will lead on forming strategic stakeholder partnerships, nurturing strong internal relationships and collaborating with customers within the supply chain of YPO, one of the UK’s largest public buying sector organisations.
She said: “It’s exciting to begin this role at such a pivotal time in the industry, and I am looking forward to strategically working with leaders across YPO and its partners to build opportunities that can develop and grow the organisation whilst delivering an outstanding service.”
Simon Hill, MD at YPO, added: “Michelle joins us with a wealth of experience in public sector procurement, working at the NHS for over 20 years in total. She has led teams through some of the most challenging times, such as the pandemic, and truly has a passion for making a difference. The board and I look forward to working with Michelle closely to shape YPO’s procurement strategy for the future.”
Michelle is an award-winning procurement professional with extensive experience in the public sector, specifically within the NHS and higher education at Sheffield Hallam University. For the past 15 years she has held a position within the NHS North of England Commercial Procurement Collaborative in Sheffield, with her most recent role seeing her lead a team within the Healthcare Services and Pharmacy category.
As well as her category work, Michelle conceptualised and delivered a well-regarded suite of training for procurement and non-procurement staff on a national scale, contributing as a keynote speaker at numerous national events.
Michelle also teaches the next generation of procurement professionals, delivering CIPS level 4 and 5 training at the College of York and the University of Hull. Michelle is CIPS qualified and holds a post graduate qualification in Public Procurement Law and Policy from the University of Nottingham.
Hundreds attend first supplier conference to talk about deployment of Rolls-Royce Small Modular Reactors
More than 130 delegates, with hundreds more joining virtually, attended Rolls-Royce SMR’s first Supplier Conference in Sheffield to discuss their vital role deploying a global fleet of Small Modular Reactor power plants.
Representatives from small, medium and large organisations – from the UK and around the world – met senior Rolls-Royce SMR executives and supply chain specialists to understand how they can get involved in this transformative decarbonisation opportunity.
Rolls-Royce SMR’s Chief Finance Officer Peter Morton, said: “The event was the first time we’ve engaged with such a diverse group of existing and potential suppliers to explain what we need and outline how we can work together and, importantly, to better understand what they want from us.
“The event has been all about further developing the solid foundations on which we’ll build a strong, resilient and sustainable supply chain – not only is that critical to the success of our business but it will be transformational in terms of jobs, growth and social value creation.”
Organisations that have products and services to offer were encouraged to register their interest by signing up to the Rolls-Royce SMR Supplier Portal which is the first step towards becoming a Rolls-Royce SMR supplier.
The Rolls-Royce SMR is the first nuclear power station to be designed and built in the UK for over a generation, and offers a radically-different approach to delivering new nuclear power. Each ‘factory-built’ nuclear power station will provide enough low-carbon electricity to power a million homes for more than 60 years and will create thousands of long-term, high-skilled jobs.
Paint reprocessing specialist moves to Temple, Leeds
Paint reprocessing specialist, Seagulls Reuse, has relocated to 129 Water Lane within the heart of the Temple district of Leeds.
Seagulls will recycle, mix and sell paint as well as running a series of creative workshops close to the city centre in its new 31,150 sq ft warehouse.
Cat Hyde, co-founder of Seagulls, said: “We’d love to have the capacity to collect leftover trade paint but, at the moment, we have enough paint from Leeds households to meet our customers’ needs. But we are hopeful that this new city centre location in the fast-growing Temple district will hopefully entice new painters through the door enabling further expansion.
“So this is a plea to people across the city to pop in and see significant savings on quality paint, varnish and timber care. Whether painting your home, office, community centre, shed or garden furniture – we have something for everyone no matter the colour.
“The new space will also enable us to expand the range of workshops we run, from beginners decorating courses, to mosaics, murals and terrazzo, we will also have decorating pods available for hire.”
Seagulls Reuse launched in 2005. It is the brainchild of Cat Hyde and her co-founder. Keen to find new pathways into employment, with a shared passion for environmental sustainability they wanted to create a social enterprise that would benefit their community. They engaged with Leeds City Council and agreed to collect and reuse paint disposed at the nine Household Waste Recycling Centres across the city.
They now divert almost 400 tonnes of reusable paint each year, checking and reprocessing it for resale.
Antonia Martin-Wright, Director of Commercial Development at CEG, said: “It is fantastic to welcome Seagulls to Water Lane. They join Slung Low and our new Forging Futures training and skills campus at Temple and share many of our values, both in terms of environmental sustainability and the importance of social enterprise. We wish them every success in their new city centre home.”
Property Agent Fox Lloyd Jones introduced Seagulls Reuse to its new home. Zac Parker at FLJ Ltd said: “We’re delighted to have negotiated the deal to bring Seagulls Reuse to the Temple District, supporting their immediate and future growth plans, while adding significant value to the wider Temple Community. It has been a pleasure to work with the Seagulls Team on the transaction and we wish them all success for the future.”
Political parties urged to put food security policies on the menu
The NFU, British Retail Consortium, UK Hospitality and Food and Drink Federation have joined forces to express frustration at the lack of coverage during the campaigns so far as to how the next government will approach the issue despite widespread agreement that “food security is national security”.
Given that the food and drink supply chain employs 7.7m people, and is the UK’s largest industrial sector, worth £240bn, political parties have been called upon to set out how they intend to support domestic food and farming sectors, and how they will work to ensure resilient supply chains.
In a letter to the party leaders, the organisations say this omission in public election campaigning needs to be urgently addressed before polling day.
The letter states: ‘Our food system has shown itself in recent years to be efficient and resilient, maintaining UK food supply through a series of major challenges, including Covid-19, Russia’s invasion of Ukraine, and new trading arrangements by leaving the European Union.
‘At times those supply chains have come under severe strain, leading to shortages of some food and drink products and increasing costs at all points of the chain from producer to consumer.
‘It would be foolhardy to assume that our food system will always withstand shocks, especially against the backdrop of increased geo-political instability and climate change.
‘The basic responsibility of any government is to ensure its citizens are safe and properly fed. But while we have heard much about defence and energy security in recent weeks, we have heard very little about food security.
‘The lack of focus on food in the political narrative during the campaigns demonstrates a worrying blind spot for those that would govern us.’
The letter makes the case that a thriving food and drink sector functions as ‘an engine for economic growth’, providing varied employment across all entry levels.
Profitable businesses across the food and drink supply chain not only contribute to the UK’s food security but also mean our natural environment can be managed sustainably and protected, and help meet climate ambitions the letter says.
‘A well-functioning supply chain also gives consumers access to a wide range of fresh produce and healthy food, is a crucial aspect of improving diets, alleviating pressure on the health service and improving health outcomes for our citizens.’
The letter concludes: “We should never take our food security for granted, and whoever forms the next government will need to address these issues as a priority. Taken together, these policies can provide the critical ingredient – confidence – that will allow industry to deliver a resilient food system, investing for the future, driving productivity, leading the way in energy efficiency, continuing the journey of protecting and enhancing the environment, and most of all, ensuring that British food remains on our shelves and available for all.”
Sheffield firm makes significant contribution to groundbreaking European project
Sheffield clean energy company ITM Power has made a significant contribution to a pan-European flagship project exploring the possibility of producing hydrogen for use as clean energy on an industrial scale.
It was REFHYNE, a first-of-a-kind project at the forefront of the effort to supply green refinery hydrogen for Europe, which took place in Germany and supported by the European Commission’s Clean Hydrogen Partnership.
ITM Chief Technology Officer Dr Simon Bourne said: “We are proud of the successful
conclusion of the REFHYNE project. This groundbreaking initiative has demonstrated the viability and potential of green hydrogen production in a refinery setting at an industrial scale.
“The achievements of the project, which saw much of the work take place during the global
pandemic, highlight the dedication of all partners involved, and ITM’s ability to deliver
electrolyser projects even during the most testing of circumstances. Furthermore, the data
gathered from REFHYNE shows ITM’s market leading stack performance together with extreme operational flexibility. REFHYNE has been a true lighthouse project that has made a substantial contribution to the industry.”
The project began in January 2018 with the aim to validate the business model for using
electrolytic hydrogen as an input to refineries
Small firms need interest rate cut sooner rather than later, says FSB
In the wake of the Bank of England deciding to hold the base rate at 5.25%, he said: “Yet again, the MPC has opted to stick instead of twist, a move which was widely predicted but which is no less disappointing for it.
“The high plateau rates are currently stuck at is now undermining growth, as small firms struggle to access affordable finance to help them expand.
“Inflation is now back on target, and holding off a cut in the base rate until a future date risks snuffing out tentative signs of a recovery in GDP, with the flat growth in April a warning sign.
“Even with services inflation coming in higher than expected yesterday, the danger posed by stifling growth must not be ignored, as doing so will have potentially devastating consequences for small businesses.
“Small firms will be hoping that the tipping point for a cut will be reached sooner rather than later, to help them invest and scale up.”
Construction firm makes most of apprenticeships thanks to Opportunity Goole
Goole-based construction firm Helm & Ransome has secured apprenticeships for two of its young employees after receiving support from the Opportunity Goole team, funded by Goole Town Deal.
Scott Ransome, a Director of Helm & Ransome Construction Ltd, first spoke to advisors from the team at an event that they hosted in Goole to raise awareness of the free support and advice on offer to both local businesses and individuals.
He said: “I went along to the Opportunity Goole event and met Linda, one of the advisors. Since then, Linda has been helping us with apprenticeships; she has got two of our lads onto apprenticeship courses so they will spend blocks of time at college and blocks of time with us.
“We’ll benefit by gaining more skilled workers, which will help us to grow the business.”
Scott explained that Linda was helping him to identify grant funding sources to meet the cost of other training opportunities for members of the Helm & Ransome team, and has also put him in touch with the Invest East Yorkshire Business Support team at East Riding of Yorkshire Council. The Business Support team has encouraged Scott to sign up to the Supply Chain Network, a directory of local suppliers, ensuring that, when contracts arise in the local area, Helm & Ransome is well positioned to be able to bid for and secure them.
Scott added: “It has been quite helpful and I would encourage others who are looking for support to make contact with Opportunity Goole. They’ll be able to point you in the right direction and may also be able to help you access grant funding to cover the cost of training and other support.”
Linda Naylor of the Opportunity Goole team said: “We’re delighted to have been able to help get two of Scott’s employees onto apprenticeships, as well as helping him to identify other potential sources of grant funding to help with the future training needs of the business. Meanwhile, our colleagues in the Invest East Yorkshire Business Support team are helping Scott to ensure that he’s aware of and able to go for any suitable local business opportunities that come up locally.”
Football club signs eight-year contract with renewable energy company
Bridlington Town AFC has signed a long-term solar power purchase agreement with Hull-based renewable energy company HDM Energies.
The agreement, under HDM Energies’ ‘Energy for All’ scheme, will see a 400-panel solar array capable of generating 180 kW fitted on the roof of the stands at the Queensgate stadium in Bridlington.
With an estimated annual saving of £42,000, the deal provides Bridlington Town with access to affordable renewable electricity to power its 2,800-capacity stadium at a fixed low-cost rate, offering price certainty and improved energy security for the club.
The installation of the panels is expected to be completed next month, with HDM Energies financing the project and maintaining the panels throughout the eight-year contract. Powered by clean and renewable energy, electric vehicle (EV) charging stations for matchday visitors will also be added to the system at no additional cost.
Daniel Rogers, CEO of HDM Energies, said: “It is great to see forward-thinking clubs like Bridlington Town AFC embracing solar to power their stadiums. We are thrilled to be able to facilitate panels for a local club through our Energy for All scheme, ensuring they can continue to enjoy affordable electricity bills and clean energy for many years to come.”
The ‘Energy for All’ PPA enables Bridlington Town AFC to directly purchase the solar energy produced at rates much lower than grid-supplied energy prices, significantly lowering overheads. By becoming carbon negative and a net exporter of electricity, the installation of solar PV to power the stadium and grounds will ensure a greener future for the club, reflecting their commitment to sustainability within the community.
Bank of England holds interest rates at 5.25% for seventh time
The Bank of England has held interest rates for the seventh time, at 5.25%, in line with expectations.
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way to help sustain growth and employment. At its meeting ending on 19 June 2024, the MPC voted by a majority of 7–2 to maintain Bank Rate at 5.25%. Two members preferred to reduce Bank Rate by 0.25 percentage points, to 5%.
Twelve-month CPI inflation fell to 2% in May from 3.2% in March, though is expected to rise slightly in the second half of this year.
Alpesh Paleja, Interim Deputy Chief Economist, CBI, said: “It’s unsurprising that the Monetary Policy Committee kept interest rates on hold this month. Recent data has been a bit of a mixed bag: while inflation is falling and the labour market is loosening, wage growth remains stubbornly strong and services inflation is higher than the Bank’s forecast. Signs of continued persistence in domestic price pressures will have prompted caution among the Committee.
“We still expect the MPC to cut rates in August, but this is not a done deal – they remain very data-driven, so the evolution of key indicators over the coming month will be key. Furthermore, the pace of any rate cuts beyond August is likely to be gradual, if the Bank remained concerned about the persistence of underlying price pressures.”
Leeds Merrion Centre strengthens team with key appointment
Leeds Merrion Centre, the mixed-use scheme owned by property investment and car parking operator, Town Centre Securities PLC (TCS), has made a key appointment. Katrina Townsend is set to join the Merrion Centre as area operations manager from August.
In her new role, she will oversee the experienced Merrion Estate facilities and security team.
With over 15 years of experience managing a diverse portfolio of buildings, Katrina will manage the 1 million sq ft scheme comprising retail and leisure units, offices and a multi-storey CitiPark car park. Her extensive expertise in property management will be instrumental in driving the continued success and development of the Merrion Centre, which also celebrates its 60th anniversary this year.
Katrina said: “I am thrilled to be joining TCS and taking on the role of area operations manager for the Merrion Centre. This is an exciting time, and I look forward to contributing to its ongoing success, working with such a dedicated team and being part of its ongoing growth and innovation.”
Charles Newman, associate director at TCS, said: “We are delighted to welcome Katrina to the TCS family. Her extensive experience, dedication to excellence and proven track record align perfectly with our commitment to delivering outstanding results. Katrina’s expertise will be invaluable as we continue to drive the success of our projects and further enhance our reputation as a leader within the property industry.”
South Yorkshire businesses tee it up to raise funds for paces
Business owners and professionals from Sheffield, Barnsley & Rotherham recently participated in a charity golf day at Wortley Golf Club to raise vital funds for local charity, Paces.
Now in its fourth year, the charity golf day took place on Wednesday, 12th June 2024, with 78 golfers representing 22 companies. The event was sponsored by UK-wide talent management specialists Nicholas Associates Group, CSP Systems, and Oxley & Coward Solicitors LLP.
The winning team, representing Actus Insurance, scored 88 points. Over £1,500 was raised through a variety of activities, including raffles, beer buggies, and the halfway house, throughout the day.
All funds raised will support Paces, a leading specialist centre in Sheffield for children with Cerebral Palsy and other motor disorders. Paces was established in the 1990s by parents who recognised the benefits of Conductive Education for children with cerebral palsy.
Dave Hall, Fundraising & Communications Manager at Paces, added: “We are extremely grateful to everyone who participated in the golf day. Fundraising is crucial as it helps us continue providing vital services to people and families most affected by neurological disorders.”
Nicholas Associates Group CEO, Paul Smith, commented on the event’s success, saying: “This is our fourth year hosting a golf day to benefit local charities. Paces is a wonderful charity, and we are more than happy to support them in whatever way we can.”
Andy Bethel, Director of CSP Systems, remarked: “Supporting Paces through this golf event is incredibly rewarding. It’s fantastic to see so many businesses come together for such a worthy cause.”
Amy Cusworth, Partner from Oxley & Coward Solicitors LLP, added: “We are proud to sponsor this event and support Paces in their mission to provide essential services to children with Cerebral Palsy. The dedication of everyone involved is truly inspiring.”
