Property groups reveal merger plans to create business worth £214m

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Property groups reveal merger plans to create business worth £214m
Grantham-based Belvoir Group, the property, mortgage and franchise group, has unveiled merger plans with The Property Franchise Group (TPFG), with the aim of creating a leading property franchise business worth approximately £214.4m.

The combined group will benefit from increased scale with more than 930 property franchise locations, managing approximately 152,000 tenanted properties across the UK and will be expected to sell more than 28,000 properties per annum.

For the financial year ended 31 December 2022, TPFG and Belvoir together generated in excess of £60 million in combined revenue, with management service fees of approximately £27 million and adjusted EBITDA of approximately £22.5 million.

The combined group board will comprise, among others, Gareth Samples (TPFG Chief Executive Officer), David Raggett (TPFG Chief Financial Officer) and Michelle Brook (Belvoir executive director), with Paul Latham (TPFG chair) as the combined group’s chair.

Upon completion of the merger, Belvoir shareholders will hold approximately 48.25% and TPFG shareholders will hold approximately 51.75%.

Paul Latham, non-executive chairman of TPFG, said: “I am delighted to confirm that we have reached an agreement with the Belvoir board and major Belvoir shareholders on the merger with Belvoir. We believe that the merger represents a compelling opportunity for all shareholders.

“Belvoir brings further breadth through its nationwide network and a financial services business which will be complementary to our current offering. The merger will enable us to continue to grow in the sector and, ultimately, deliver greater value to shareholders of the combined group.”

Jon Di-Stefano, non-executive chairman of Belvoir, said: “The merger of Belvoir and TPFG combines two businesses with much in common, each supporting a network of entrepreneurial franchises, and will create one of the UK’s largest multi-brand lettings and estate agency groups combined with a growing financial services business.

“With their complementary geographic footprints providing both scale and diversification across a variety of high street and hybrid brands combined with high levels of recurring revenue, we feel sure that the combined group will provide a robust platform from which to grow.”

University of Hull launches London Study Centre

Stuart Pearcey
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University of Hull launches London Study Centre

The University of Hull has launched a London Study Centre, providing students with the opportunity to study on our outstanding Hull programmes whilst immersing themselves in the professional hub of the capital.

Situated in Bloomsbury, the Centre will initially offer a range of Business programmes, including MSc Business Management; MSc Logistics and Supply Chain Management; and MSc Digital Marketing and Advertising. The University is collaborating with Cambridge Education Group to launch the Centre, which will see three intakes per year, with the first intake commencing in May 2024. The world-class programmes, developed by University of Hull academics, will be taught face to face and students will benefit from remarkable student support to ensure their personal success. Professor Dave Petley, Vice-Chancellor at the University of Hull, said: “This is an incredibly exciting time for the University of Hull. The London Study Centre will provide students the chance to study on leading academic programmes in the capital, whilst retaining the identity, heritage and standards of our wonderful University. “It will empower our students to develop the skills and knowledge they need to thrive in their chosen fields, whilst providing opportunities to engage with the local community and professional networks, ensuring they gain invaluable experience and connections. “The expertise and proven track record of Cambridge Education Group in providing high-quality education and support to students will be instrumental in making the London Study Centre a success.” With its central London location, students will have easy access to all the city has to offer, including world-class museums, theatres and restaurants. The Centre is equipped with modern facilities and technology, providing students with the ideal environment to learn and develop their skills. Brendan Webb, CEO, Commercial of Cambridge Education Group, said, “We are thrilled to be partnering with the University of Hull to bring their renowned academic programmes to the heart of London. This partnership aligns perfectly with our mission to provide students with access to exceptional education opportunities, equipping them with the skills they need to succeed in their careers.” The launch of the London Study Centre marks a significant step forward in the University of Hull and Cambridge Education Group’s internationalisation strategies. Both institutions are committed to providing students with global perspectives and the skills they need to excel in a rapidly changing world.

Metsä Group chooses Arup to design Goole’s tissue paper mill

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Metsä Group chooses Arup to design Goole’s tissue paper mill

Metsä Group has selected Arup as one of its partners to design its new tissue paper mill in Goole.

With the planned investment Metsä Group’s tissue paper business aims to replace almost half of imported essential tissue products and bring locally produced, sustainable tissue products to the UK, increasing the country’s self-sufficiency in this sector by 30%.

The planned facility will demonstrate the latest in sustainable production technology and will have the capacity to produce 240,000 tons of tissue paper, built in phases over the next decade. Once all necessary planning and permits have been achieved, and the final investment decision made, the completed mill will generate over 400 direct employment opportunities within the facility, along with the creation of thousands more jobs throughout the supply chain and the local economy. The planned new mill will support Metsä’s sustainability 2030 targets – for all products to be manufactured from fully fossil free raw materials and for all its mills, including the new Goole facility, to operate without the use of fossil fuels by 2030. Arup supported Metsä Group’s tissue paper business in identifying the proposed location – a 200-acre site in Goole, East Riding of Yorkshire in the Humber region.
Alan Jeffery, Technical Director, UK and Ireland, Metsä Group’s tissue paper business said “Goole is the perfect location for this proposed investment. The Humber region provides a crucial gateway to the whole of the UK and the region’s ambitions to bring cutting-edge green technology and jobs to the UK matches our ambitions in clean, sustainable manufacturing.” The Humber’s strategic location, industrial capabilities, and innovative businesses position the region well in the UK’s transition towards a green industrial revolution and achieving net zero emissions. Arup provides an integrated approach to decarbonisation and regeneration in the Humber, creating a blueprint approach for the region. Andy Pennington, Director and Liverpool Office Leader, Arup said: “We are delighted that Metsä Group’s tissue paper business will reap the benefit of Arup’s local knowledge in delivering the planned new facility in Goole, Yorkshire. Working with a forerunner in sustainable bioeconomy and circular economy such as Metsä Tissue aligns well with Arup values and we’re excited to drive forward sustainable development in manufacturing together.” Arup will provide Civil and Structural Engineering, Geotechnical Engineering and Landscape Architecture services as part of the design team for the planned new facility. Arup’s multi-disciplinary design team supported Metsä’s site search by undertaking site due diligence studies for the shortlisted locations and testing Metsä’s preferred layout masterplan against the constraints of each site.

Future’s bright for Doncaster, says Chamber’s Chief Exec Dan Fell

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Future’s bright for Doncaster, says Chamber’s Chief Exec Dan Fell
Doncaster Chamber is looking forward to a year of prosperity for the city and its business community, with the outlook for 2024 looking very bright if the right steps are taken to create the conditions for economic growth, says its Chief Exec Dan Fell. He said it was no secret that the past eighteen or so months had largely been defined by persistent challenges and missed opportunities. “In that space of time, Doncaster has had to reckon with the closure of its international airport, the near-miss of its campaign to be the home of Great British Railways, and assorted macroeconomic headwinds that are still exacting a heavy toll across the country. “The Chamber of Commerce is optimistic that there could now be light at the end of this tunnel and that the future could have many great things in store for our city. Indeed, the organisation has a number of ambitious but credible aims it hopes will be fulfilled by the end of this year, and is pledging to work tirelessly to ensure these are met or in-progress. “I believe that, after the disappointments of recent months, Doncaster is poised to stage a comeback in 2024 and we intend to be a big part of that resurgence. “Our business community has suffered multiple knocks lately but, through characteristic Yorkshire grit and sheer resilience, they have capably weathered that storm. We are determined to make this year better for them, and for all of Doncaster’s residents, by righting the ship, finally capitalising on our city status, and embracing the exciting opportunities that are firmly within our grasp. “Later on in 2024, we will be publishing a new Business Manifesto that sets out exactly how we want to achieve these goals but, in the meantime, a few clear priorities do stand out.”

Land sale paves way for new factory near Boston

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Land sale paves way for new factory near Boston
Lincolnshire County Council’s sale of 10.28 acres of land at Kirton Distribution Park paves the way for Dhoot Transmission UK, known locally as Parkinson Harness Technology, to build a new factory making specialist vehicle parts. Planning permission for the development, which could create 80 jobs, was granted last year. David Earnshaw, MD at Parkinson Harness Technology, said: “The facility will enable the company to further develop our position as a leading supplier of High Voltage leads for the UK specialist vehicle market alongside our long standing Low Voltage product. “When your bins are emptied, it is in part, with product made here in Lincolnshire.  We’d like to thank both Lincolnshire County Council and Boston Borough Council for their critical help in putting this project together.” Cllr Colin Davie, executive councillor for economy and place at Lincolnshire County Council, said: “This new factory will be a fantastic addition to the 27-acre Kirton Distribution Park, and Parkinson Harness Technologies will be joining other high profile businesses on the site such as Duckworth Jaguar Land Rover and Sportsbikeshop. “All of the land here has now been allocated, and Kirton is another example of how the council is providing the investment to encourage businesses to start-up, re-locate and grow, in our county.”

Nuclear industry develops apprenticeship scheme for employees of the future

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Nuclear industry develops apprenticeship scheme for employees of the future
The Nuclear AMRC and AMRC Training Centre have together created the new Nuclear Scientist and Nuclear Engineer Degree Apprenticeship to develop graduate professionals with the skills to work across the UK’s current and future civil nuclear programmes. Employers to attend this special event to find out more about the apprenticeship, and how you can use the programme to develop new talent in your company. As well as introducing the scope and requirements of the course, the half-day event will include presentations from a range of nuclear industry representatives on the importance of the new degree apprenticeship and how it aligns with plans to tackle the skills shortage across the sector. The event also provides an opportunity to see the industry-leading training facilities available at the AMRC Training Centre, close to the Nuclear AMRC on South Yorkshire’s Advanced Manufacturing Park. The Nuclear Scientist and Nuclear Engineer Degree Apprenticeship has been developed with the support of industry partners including UKAEA, Westinghouse, Rolls-Royce, Sellafield and Jacobs. It is designed to provide the engineering and management skills needed to ensure that nuclear systems and equipment can be operated safely and efficiently and in an environmentally sustainable way. Specialist modules include the principles of nuclear engineering, advanced manufacturing and materials for nuclear applications, and industry codes and standards. Depending on previous experience, the course will take up to five years to complete.

Yorkshire companies acquired by logistics group

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Yorkshire companies acquired by logistics group
Burnley-headquartered EFS Global has acquired a substantial group of companies including: YDL, Leeds Parcel Company and Pass the Parcel. The group of companies service the pallet and parcel distribution sectors across five sites within North and West Yorkshire. The group of companies represents the largest acquisition EFS Global has made, adding more than £30m+ turnover to the group. The day to day running of the companies will remain in the hands of the existing senior leadership teams with Jordan Kellett (director of EFS Global) overseeing from a wider group perspective. This acquisition adds a further three trading companies to the 23 acquisitions the group has made since 2015. This also takes the site tally up to 40 premises throughout England and Scotland. Jordan Kellett, director at EFS Global, said: “We begin 2024 with the incredibly exciting acquisition of these well-known and reputable companies. I am thrilled that we have managed to get our largest acquisition to date over the line, plugging some key areas of the country in North & West Yorkshire. “We are not only acquiring well-known and reputable companies, but an extremely experienced team of people that I am excited to work with on both their own companies and the wider group.” The corporate team at Davis Blank Furniss advised EFS Global on all transactional matters. The team was led by Sonio Singh, partner and head of the corporate department. He was supported by colleagues Lauren Sever, senior associate and Hannah Kay, trainee solicitor. Sonio Singh added: “We were very pleased to once again advise the EFS Global team on its latest strategic acquisition. It is fantastic to see EFS continue to grow in what is a very competitive market and I am sure this deal will further augment their rapid reach across the UK.”

Aon names new Leeds-based partners

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Aon names new Leeds-based partners

Aon plc, the professional services firm, has promoted two of its Leeds-based colleagues to partner.

Sue Austen has had a career in the UK pensions industry spanning over 30 years, the majority of which have been spent with Aon.  She leads a team of over 100 colleagues who support trustees and in-house pensions teams in the management of their pension arrangements.

Sue said: “Having briefly held roles at other consultancies, it was joining Aon that provided me with the opportunities that have shaped my career.

“The mix of continuing to advise clients, developing industry-leading solutions, and holding management responsibilities provides genuine variety which, when combined with working with an inclusive and diverse team, makes this such an exciting role.

“The pensions industry continues to face challenges and with regulatory changes on the horizon, I am very much looking forward to continuing to work with clients and colleagues.”

Andrew Grime is a qualified actuary with over 20 years of pensions industry experience, advising a range of pension schemes, varying in size from £40 million to £4 billion.

Andrew Grime

With his breadth and depth of expertise, Andrew helps schemes set and execute long-term benefit and financing strategies, with a key emphasis on the risk settlement market, where he has a particular focus on the rapidly developing superfund and capital-backed journey plan market.

Andrew said: “I’ve spent my entire career at Aon and am privileged to be part of such a diverse and highly talented team.

“My role is all about helping clients solve problems, and the pace of change within the pensions industry has provided an enormous opportunity for sponsors and trustees to improve member outcomes, as well as providing exciting opportunities for colleagues looking to broaden their career paths.

“Becoming a partner will enable me not only to shape and influence wider business priorities, but also to focus on further developing the fantastic junior colleagues within the team, so they are equipped to support evolving client needs.”

Growth Hub supports Dales-based furniture maker

Stuart Pearcey
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Growth Hub supports Dales-based furniture maker
Yorkshire Dales-based furniture maker Tom Addison has been helped to boost his business with support from the York & North Yorkshire Growth Hub. He said: “I discovered the Growth Hub through a local business group that introduced me to business relationship manager Nick White. Our first meeting was online, and that’s when the journey began.” Nick said: “Tom came as a referral to the Richmondshire Small Business Grant. Our online discussions led to helping Tom produce an application to the fund.” Tome said:“I’ve received a lot of support through the Growth Hub, with signposts to various funding and potential grants. I secured the startup grant from Richmondshire District Council, amounting to £1,000, which I used towards a bandsaw. This has significantly improved what I’m able to do. It has allowed me to take on a broader range of jobs and produce intricate curved work.” Beyond the funding, Tom highlighted the Growth Hub’s role in improving his digital marketing efforts. “I’ve received a lot of training on social media platforms, which I’ve made the most of. The Growth Hub has contributed to the growth of my business by providing me with the skills to promote my business online. I’ve created short videos, some of which have gone viral, and my audience has grown tenfold into the thousands of followers.” Nick added: “Tom is typical of a small business in a rural area. His business is a good examplar for others working from home, but seeking a market outside their local area.” Tom endorsed the Growth Hub, saying, “I recommend the Growth Hub to other businesses. It mentors in the early stages, providing ongoing support, a reliable point of contact for queries. Their experience and contacts can point you in the right direction. A fantastic springboard for young businesses.”

2024 Business Predictions: Dr Edward Ziff, Chairman and CEO, Town Centre Securities PLC (TCS)

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2024 Business Predictions: Dr Edward Ziff, Chairman and CEO, Town Centre Securities PLC (TCS)
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Dr Edward Ziff, Chairman and CEO at Town Centre Securities PLC (TCS). As we enter the new year, Leeds’ property sector is poised for transformation amid discussions on the cost-of-living crisis, inflation and rising interest rates. I feel this shift in focus is expected to drive efforts in rebalancing and fortifying the UK economy, with a specific emphasis on enhancing major cities in the North. Leeds is experiencing significant momentum in private rental and purpose-built student accommodations. Whilst anticipating a slowdown, I am confident that these sectors will remain resilient. The working landscape in Leeds seems to have adopted a hybrid model, reshaping office demand and emphasising the importance of environmental credentials for prime offices. Town Centre Securities PLC (TCS) has promptly responded by prioritising high-quality, multi-tenanted schemes and we are now exploring alternative uses, including office-to-student-accommodation conversions for key sites. In Leeds’ retail sector, grappling with online shopping challenges, our strategic portfolio diversification has reduced retail exposure from 60% to 19% over seven years. The focus persists on resilient segments such as food, discount stores, and convenience outlets and we expect this to continue. Consumer preferences for sustainability are driving transformations in Leeds’ property sector, aligning seamlessly with TCS’s commitment to high environmental standards, EPC A ratings, and BREEAM Outstanding certifications. The planned expansion of our CitiPark and CitiCharge electric vehicle charging infrastructure will also further cater to Leeds’ evolving needs. In conclusion, I hope our strategy stands resilient in navigating economic dynamics, leveraging strategic assets, adapting to work trends, and prioritising sustainability and I wish you all a prosperous 2024.

Sewell FM helps health centres reduce carbon footprint through lightbulb switch

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Sewell FM helps health centres reduce carbon footprint through lightbulb switch

Hull-based Sewell Facilities Management has worked with Hull Citycare to replace almost 7,000 light fittings with low-energy LEDs in 13 health centres across the city.

The final light of the programme was fitted by Sewell FM technicians Andy Richardson and Craig Webb at Elliott Chappell Health Centre, making Hull the only city to have all its health centres fully fitted with LEDs. Sean Henderson, MD of Sewell FM, who manage building maintenance for the health centres, said: “Changing a lightbulb in a health centre isn’t as easy as you think, as you need to close off the space, put up barriers and sometimes even bring in mobile elevating working platforms to reach fittings in higher and difficult to reach areas. It causes disruption for the building’s users and staff, takes our facilities team away from urgent jobs and then, a year or so after you’ve put the new lightbulb in, it needs replacing again. “After trialling LEDs at Bilton Health Centre, we knew the benefits that moving to LEDs would bring for the buildings, patients and our staff, so we agreed to pay for and fit the new lights to all the health centres ourselves. It was an ambitious target to get all the replacements completed within two years, and our technicians have worked really hard to get the job finished. Now we have much longer lasting lights that don’t need changing every year, they can put their time and energy into ensuring all our buildings stay in the best condition.” Tim Wigglesworth, Chief Executive of Hull Citycare, said: “Decarbonisation is at the top of everyone’s priority list at the moment, so when Sewell Facilities Management came to us saying they could reduce energy consumption and also save money, it seemed like a win-win situation. It’s already saving the health centres thousands of pounds every year, which is money that can be spent on clinical services and making the health centres even better for patients.”

Financial services volumes dip in fourth quarter

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Financial services volumes dip in fourth quarter
The fourth quarter of 2023 saw financial services business volumes contract for the first time since June 2020, according to the latest CBI Financial Services Survey. Volumes are expected to be broadly flat over the next three months. The quarterly survey, conducted between 21 November and 15 December, also showed that optimism and profitability were both flat across the quarter, with profitability set to fall in the three months to March. Headcount growth accelerated over the quarter and is expected to remain quick in the months ahead. There was a mixed picture for investment intentions, with firms expecting to increase investment in IT and vehicles, plant & machinery, while cutting back on capital expenditure in land & buildings. Notably, this was the first survey since December 2014 in which FS firms expect to increase investment in vehicles, plant & machinery. Key findings:   
  • Business volumes fell at a quick pace in the quarter to December (weighted balance of -23% from +27% in the quarter to September). Firms expect volumes to be broadly flat next quarter (-3%).
  • Optimism was broadly unchanged in the quarter to December (-3%).
  • Average spreads declined slightly in the quarter to December (-4% from +5% in September). Firms anticipate that spreads will fall at a quicker pace next quarter (-23%).
  • The value of non-performing loans was broadly unchanged in the quarter to December (+3% from +8% in September) but is expected to grow marginally next quarter (+4%).
  • Profitability was broadly flat in the quarter to December (-3% from +13% in September) but is set to fall next quarter (-19%).
  • Headcount grew at a fast rate in the quarter to December (+46% from +34% in September). Firms expect headcount growth to ease next quarter, while remaining quick overall (+32%).
  • Firms expect to increase investment in IT and vehicles, plant & machinery in the next 12 months (compared to the last 12). Capital expenditure on land & buildings is set to be cut back.
    • Uncertainty about demand was the most commonly cited factor likely to limit investment in the next 12 months (53% from 47% in September).
    • The share of firms citing cost of finance as a potential limiting factor for future investment declined noticeably from last quarter (9% from 28% in September).
Louise Hellem, CBI Chief Economist, said: “With business volumes falling and both sentiment and profitability stagnating, 2023 ended on a flat note for financial services firms. However, it is encouraging to see that many businesses are still looking to grow their workforce and increase investment going forward. “With the Chancellor having answered the call to make full expensing a permanent feature of the UK’s tax regime, it’s pleasing to see greater confidence among prospective investors in these areas. At the Spring Budget, the Government should provide an update on the green finance strategy so that the financial services sector can continue to play its part on the road to net zero.”

Farmers could get £25,000 flood recovery grants, says NFU

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Farmers could get £25,000 flood recovery grants, says NFU
The NFU is telling farmers they could be eligible for government grants of up to £25,000 through the Farming Recovery Fund.
The support has been made available for those affected by Storm Henk through Defra’s Flood Recovery Framework, which is used in exceptional circumstances to support councils and communities following severe flooding. Farmers who have suffered uninsurable damage to their land will be able to apply for the funding to go towards repair and reinstatement costs. As was the case with Storm Babet, farmers should also be eligible for up to £2,500 from the Business Recovery Grant to help them return quickly to business as usual, says the NFU, and up to £5,000 from the Property Flood Resilience Repair Grant Scheme to help make their homes and businesses more resilient to future flooding.
NFU Deputy President Tom Bradshaw welcomed the news on the funding and said the NFU would be looking through the details carefully to see what is covered and who is eligible to apply. “Many areas of the country are continuing to experience devastating floods and our thoughts are with those communities affected.
“Thousands of acres of productive farmland are still under water and many crops are not going to survive the winter with the huge financial stress and misery that brings. “We are continuing to monitor the situation and supporting our members via our network of contacts in the Environment Agency and local authorities.” Defra Secretary Steve Barclay said: “45,000 properties are already protected thanks to our flood defences, and I would like to pay tribute to the work of Environment Agency teams, first responders, and others. “For those who have sadly been affected, our Property Flood Resilience Repair Grant Scheme will soon be open to help residents protect their property in the future, while our Farming Recovery Fund will support farmers who have suffered damage as they work to put food on our tables.” The Farming Recovery Fund is triggered following exceptional weather events and was last made available in 2019/20.

Leeds engineering group expands into the Midlands with Birmingham office opening

Stuart Pearcey
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Leeds engineering group expands into the Midlands with Birmingham office opening
Leeds-based engineering consultancy the JPG Group has expanded its reach by setting up a new base in Birmingham’s Cornwall Buildings from which it will seek to expand its area of operation. JPG provides civil and structural engineering consultancy services and currently employs 45 people at its Leeds HQ. New team members will join the Midlands office under the leadership of long-serving board director, David Allwood, who said: “We see fantastic opportunities in the Midlands, particularly in the feasibility support on strategic sites identified for much needed new residential conurbations as highlighted in the Birmingham Development Plan. “Whilst we have an established project portfolio across the whole of the UK, having a more permanent base in the Midlands will allow us to expand our regional project pipeline with a team that can also more readily deliver projects in the South. This strategic move forms an important milestone in our growth plans.” JPG Group has expertise in every aspect of civil and structural engineering from initial site investigation, detailed civil and structural engineering design and construction support.  The team also offers dedicated consultancy services in Strategic Land Engineering, Geospatial Analysis and BIM Services. Recently completed projects include St Hilary’s Retail Park, in Basildon, Queen Alexandra Hospital in Portsmouth and 640,000 sq ft of strategic logistics development at Integra 61, in Country Durham.

Business conditions are improving in South Yorkshire, says new report

Stuart Pearcey
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Business conditions are improving in South Yorkshire, says new report
Business conditions are improving across South Yorkshire, according to the region’s latest Infrastructure survey. But the survey also says it’s worth noting that organisations are continuing to face significant inflationary pressures, and that many of them are forecasting an imminent rise in the costs of their goods and services. Conducted by the three regional Chambers of Commerce — for Doncaster, Sheffield and Barnsley & Rotherham — this questionnaire ran between November and December 2023, and was used to gauge the views of local business owners on a wide range of different issues. Chief Execs for all three South Yorkshire Chambers issued the following joint statement:“While none of our results are especially surprising — given the current macroeconomic climate and the assorted headwinds that businesses are contending with — they are nevertheless incredibly revealing. “Although there have been tentative improvements in sales figures and order books, growth remains weak across South Yorkshire and several factors are putting additional pressure on firms at the moment; most notably high levels of inflation, rising interest rates and corporate taxation. Meanwhile, recruitment continues to be a perennial sticking point for many organisations in the region, with 85% of the firms that have tried to recruit in this last quarter having struggled to do so. “Of course, these findings are in line with the national trends being observed by our umbrella body, The British Chambers of Commerce (BCC) right now. As such, we are echoing their call for a long-term plan for growth from the Government, and are similarly urging politicians to remain focused on growing the economy and helping businesses thrive, as they head into a noisy election year. “On the subject of South Yorkshire’s transport infrastructure, our survey respondents made it clear that improvements are widely needed. The majority of organisations (65%) reported that they are facing regular delays on the roads, while over a third of them also pointed out similar problems with our rail networks and our public transportation services. “In turn, these various issues are leading to increased travel costs for firms, restricted access to prospective employees and even the loss of some business opportunities.” Peter Kennan and Sam Chapman, Co-Chairs for the South Yorkshire Transport Forum, added: “These findings are very much aligned with what businesses have previously told us and reaffirm many of our own priorities. It is particularly clear that opportunities to enhance business at home and abroad are being negatively impacted by poor infrastructure in the region, which is why we must continue to press for investment in our road networks, railways, trams and buses.” Oliver Coppard, Mayor of South Yorkshire, said: “I’m grateful for this report, and the insight it offers into the challenges facing our businesses, entrepreneurs and innovators. It offers yet more evidence that our shared priorities are the right ones: better public transport, skilling up our communities, and making economic growth a priority. Because I am determined to build a bigger, better economy in South Yorkshire. “Of course that has to be a partnership between the public and private sector, and between us here in the region and national government. None of the challenges we face are easy to overcome but I will do everything I can to help our brilliant businesses to thrive, and continue to push Westminster to do the same.”

Outdoor furniture manufacturer attracts multi-million pound investment

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Outdoor furniture manufacturer attracts multi-million pound investment
Akula Living, a marine-grade outdoor furniture manufacturer to hospitality and cruise operators, has attracted a multi-million pound investment from BGF. Founded by CEO Tim Appleton in 2009, Akula is a Yorkshire export success story, which counts global brands such as Royal Caribbean, Four Seasons, Holland America, Marriott, and Hilton among its list of clients. With 95% of sales to overseas markets, the company was recently honoured by the King’s Award for Enterprise in International Trade 2023. Tim Appleton, CEO at Akula Living, said: “We’ve achieved strong growth to date, but wanted to partner with an investor who could help us to supercharge our ambitions. “When you combine our experience, originating from a nearly 100-year legacy of textile manufacturing, with BGF’s expertise and track record of scaling businesses, we’re a force to be reckoned with. This latest investment will not only enhance the company’s market position but also contribute significantly to the broader economy.” The partnership was led by Chris Boyes and James Baker, investors in BGF’s Yorkshire team, with BGF portfolio director Becky Odam joining Akula’s board on completion. Andy Dunkley has been named non-executive chair (NXC), having been introduced via BGF’s Talent Network – one of the UK and Ireland’s largest groups of board-level non-executives. Chris Boyes, investor at BGF, said: “Akula is a fantastic company, which has demonstrated excellent growth, partnering with some of the world’s most recognisable brands in the hotel and cruise industries. “We’ve been hugely impressed by Tim and the team and look forward to working together to achieve our global ambitions for the business.”

Doncaster distribution warehouse acquired for £21.2m

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Doncaster distribution warehouse acquired for £21.2m

LondonMetric Property Plc has completed the acquisition of a long-let distribution warehouse in Doncaster for £21.2 million.

The 264,000 sq ft regional logistics warehouse is let to Next for a further 13 years at a rent of £1.42 million p.a.

Andrew Jones, Chief Executive of LondonMetric, said: “As the UK economy reaches an inflection point on both inflation and interest rates, we are increasingly attracted to triple net leased assets that have strong income compounding characteristics and certainty of growth.

“We have continued to successfully exit non-core assets and reinvest into sectors that benefit from structural tailwinds. We have now, based on purchase value, disposed of 39% of the Mucklow portfolio.”

LondonMetric was advised by GV & Co.

2024 Business Predictions: Matt Sheridan, Senior Fundraising Manager, St Luke’s Hospice

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2024 Business Predictions: Matt Sheridan, Senior Fundraising Manager, St Luke’s Hospice
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Matt Sheridan, Senior Fundraising Manager at St Luke’s – Sheffield’s Hospice, who shares predictions on corporate fundraising trends in 2024.   In 2024, the UK hospice sector is anticipated to witness a paradigm shift in corporate fundraising strategies, aligning with evolving societal values and technological advancements. Corporations will increasingly prioritise purpose-driven initiatives, fostering long-term partnerships with hospices to create meaningful social impact. Collaborations will transcend traditional philanthropy, focusing on innovative campaigns tailored to engage employees and customers. Personalised and immersive experiences will drive corporate involvement, leveraging augmented reality and virtual reality to offer stakeholders a first-hand understanding of the hospice’s mission and impact. Interactive digital platforms will facilitate employee engagement, encouraging more people to volunteer and fundraise, fostering a sense of shared purpose among staff. Moreover, sustainability and environmental consciousness will influence fundraising approaches, with companies emphasising eco-friendly events and initiatives that resonate with both the hospice cause and broader societal concerns. Collaborative efforts will prioritise community-building events, leveraging social media and crowdfunding to amplify reach and garner support from diverse demographics. Partnerships will evolve beyond monetary contributions, emphasising skill-based volunteering, pro-bono services, and knowledge-sharing sessions to empower hospice staff and optimise operations. The symbiotic relationship between corporations and hospices will shift towards a more strategic, integrated, and mutually beneficial alliance, driving innovative fundraising strategies rooted in shared values and amplified social impact.

Knaresborough firm acquires Newcastle-based financial advice business

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Knaresborough firm acquires Newcastle-based financial advice business
Knaresborough-based independent financial adviser and employee benefits consultants Prosperis Limited has acquired long-established Newcastle-based financial advice business Stephen McDine Limited. Niall Gunn, Chief Executive Officer and founder of Prosperis Ltd., said: “We are delighted to have been able to acquire such a high-quality business, allowing us to continue to provide clients with an excellent level of service going forward. “As an independently owned business, this acquisition will greatly benefit all clients. We are on track to add further locations within the Northeast as we continue with our growth plans.” Paul Meehan, chairman, said: “These are exciting times for the whole Prosperis team, and we remain very acquisitive. The purchase of the Stephen McDine business sets us up nicely as we now move to the next phase of our strategy to buy more businesses. We expect to complete on another deal before the end of Q1 2024 in addition to further senior hires.” Prosperis was established over 20 years ago and is based in Knaresborough. It manages in excess of £450m of client assets, employs 30 staff, and provides individual and corporate advice to more than 1,200 individual clients and businesses throughout the region.

LCF Law makes high-profile appointment in insolvency division

Tess Egginton
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LCF Law makes high-profile appointment in insolvency division

Experienced insolvency lawyer, Natalie Nattress, has become the latest partner to join LCF Law’s specialist insolvency division in the firm’s Leeds city centre office.

Natalie joins LCF Law from Knights and has worked in insolvency in Leeds for more than 22 years, dealing with all types of business recovery scenarios, as well as handling large scale investigations in bankruptcy and liquidation estates.

She now predominantly specialises in contentious insolvencies and deceased insolvent estates, which often involves investigating where money and assets are, before seeking to recover them on behalf of financial institutions, insolvency practitioners and individuals.

She will work alongside the insolvency division’s existing partners, comprising of Jo Barnes and Wayne Parker, as well as its additional four lawyers in the team who handle all types of corporate and personal insolvency cases.

Natalie said: “I’ve known Jo professionally for more than 20 years and although we’ve never worked for the same firm before, our paths have crossed many times. It’s always apparent that we have a similar way of working and both Jo and Wayne are also renowned for offering solid, no nonsense commercial advice, which is something I pride myself on, so there’s no doubt we will complement each other.

“Plus, LCF Law has a reputation for having strong core values and being a quality employer, which all combined to make this an appealing career move for me.”

LCF Law’s head of insolvency, Jo Barnes, added: “Natalie is very well-known in the world of insolvency and adds significant experience and expertise to our team. Her appointment also comes at a time of very high demand for our services due to our strong track record for securing victories in several landmark legal cases, as well as businesses being forced to navigate the current challenges facing certain areas of the economy.

“Natalie is therefore a very welcome addition to our team and there’s no doubt that her track-record in solving her clients’ financial problems will further strengthen the level of service and expertise that we are renowned for.”

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