New partnership launched to deliver new housing schemes across Yorkshire
Benchmark sells genetics business
Sheffield-based Benchmark, an aquaculture genetics, specialist nutrition, and health business, has entered into a binding agreement to sell the company’s genetics business area to Starfish Bidco, a wholly owned subsidiary of Novo Holdings.
The deal, by way of the disposal of Benchmark Genetics Limited and Benchmark Genetics Norway AS and their respective subsidiaries, represents an enterprise value of up to £260 million, including an initial consideration of £230 million and additional contingent consideration of up to £30 million.The disposal will enable the company to focus on its advanced nutrition and health business areas, and creates an opportunity to reduce complexity and streamline the current group structure to significantly reduce costs.
Trond Williksen, Benchmark CEO, said: “I am pleased to announce this agreement to sell our genetics business to Novo Holdings. The Transaction will unlock significant value and enable us to return capital to shareholders.
“The Disposal will also allow us to focus all our efforts on developing the significant potential of our continuing business areas, Advanced Nutrition and Health. In addition, it will enable us to reduce complexity and streamline the Group structure to significantly reduce costs.
“I would like to thank all our colleagues who have been working tirelessly this year to deliver a robust performance amidst difficult market conditions. Novo Holdings will be an excellent new owner of the genetics business and is in an ideal position to take the business forward.”
Aleks Engel, Partner at Novo Holdings, said: “We are very pleased to announce plans to acquire the Benchmark genetics business from Benchmark Holdings. Both animal and plant genetics hold immense potential to transform the global food industry, enabling more efficient and sustainable ways to feed a growing population.
“In particular, advancements in aquaculture genetics, such as those in the salmon industry, present significant opportunities to improve productivity, resilience, and environmental outcomes.”
Northern Gritstone leads £4m Seed investment into University of Sheffield spinout
Northern Gritstone has led a £4 million Seed investment into the University of Sheffield spinout, Exciting Instruments, the single-molecule platform company.
Single-molecule microscopy is one of the most powerful tools to understand disease and develop targeted therapies, however it has often been limited by complex workflows and limited accessibility, restricting its use so far to select and specialist research environments.
Exciting Instruments has developed and delivers a practical and efficient new platform for single-molecule detection, opening up adoption to an unconstrained user base spanning pharma, healthcare and other industrial applications.
Its platform technology allows users to visualise and analyse individual molecules and their interactions, whilst also providing high throughput processing and automation of analytics, advancements that are critical for improved efficiency and productivity.
Early customers of Exciting Instruments’ platform are already using it to drive new discoveries in drug development, clinical diagnostics and a range of research applications in both the pharmaceutical industry and within leading research laboratories.
Where incumbent approaches have failed to scale, Exciting Instruments is demonstrating a new path that will totally redefine molecular analysis and transform global health outcomes.
Co-investors into the round include Empirical Ventures, NPIF II – Praetura Equity Finance, and serial entrepreneurs Stan Boland and Jonathan Millner.
Duncan Johnson, CEO of Northern Gritstone, said: “Northern Gritstone is delighted to support Exciting Instruments’ internationally renowned team from the University of Sheffield. Their technology will open up a broad range of health-related research and discovery and will also support job creation in Sheffield’s thriving tech cluster.
“I’m particularly pleased that the funding round for Exciting Instruments has been over-subscribed which is another validation of the quality of deep tech investment opportunities that exist within the Northern Triangle.”
Tim Craggs CEO and Rob Bell COO, Co-Founders of Exciting Instruments, said: “Our vision at Exciting Instruments is to bring the power of single-molecule detection to every academic and pharma lab across the globe.
“We’re not just building technology—we’re creating a new era where single-molecule insights become the foundation for breakthroughs that will redefine what’s possible in human health.”
Sheffield businesses get sharper focus on customer metrics
£200m project will protect more than 1,000 businesses from flooding
Government plans £140m spend to create construction apprenticeships
Employers offered free advice to support abuse victims
Lincolnshire employers are being offered free training and guidance to help them support staff experiencing domestic abuse.
Barnett Waddingham names new non-exec Chair
Insect farm business moves into South Lincolnshire Food Enterprise Zone
Fairman Knight and Sons UK have taken office space in the innovation space at the South Lincolnshire Food Enterprise Zone, at the heart of the UK Food Valley.
Plans submitted for new mixed-use development in Boston
Boston Borough Council has submitted a planning application for the redevelopment of the Crown House site on the Rosegarth Square regeneration scheme.
The Crown House proposal, subject to planning consent, would see a new mixed-use building featuring retail units on the ground floor and apartments on the remaining two storeys above. The scheme will also be enhanced with landscaping, parking and cycle storage to complement the overall Rosegarth Square masterplan. The scheme aims to transform Rosegarth Square as a thriving community space. It will provide the opportunity for the retail units to offer outside dining as well as the wider area being used by family and friends to meet up and enjoy this part of the town.Eddisons selected to sell portfolio of nine commercial properties
Huddersfield company becomes employee-owned
Ideal Heating secures Government funding to accelerate heat pump production
Diana Taylor wins Overall Woman of Achievement Award
American nuclear exporter expands MoU with Sheffield Forgemasters
Train operator Northern gets head of property on secondment from Network Rail
Robert Ellams has joined Northern on a secondment from Network Rail to be the train operator’s head of property, having spent ten years managing the Network Rail building infrastructure portfolio along the North and East Coast routes.
He said: “In my previous role at Network Rail I’ve had the opportunity to work with Northern on their property portfolio in the North West and the North East, so I’ve already got an understanding and appreciation of the challenges we face as a business.
“There are 2,570 stations on the UK mainline and Northern is responsible for the management of 467 of those – more than any other train operator in the UK. That’s no mean feat.”
Lisa Leighton, people director at Northern, added: “We’re working hard to make our stations the heart of their community, not only providing a safe and comfortable environment to catch the train – but also to offer additional services that make our customers’ lives easier.
“Robert’s experience in this area is exceptional and his move from Network Rail to Northern is a great example of how the rail industry can benefit from career development opportunities across track and train and we’re delighted he’s joining the team.”
Northern is the second largest train operator in the UK, with nearly 2,500 services a day to more than 467 stations across the North of England.
Manufacturing output volumes fall, but near-term outlook improves
- Output volumes fell in the three months to November, at a faster pace than in the quarter to October (weighted balance of -12%, from -6% in the three months to October). Output is expected to rise in the three months to February (+9%).
- Output decreased in 14 out of 17 sub-sectors in the three months to November, with the fall driven by the chemicals, mechanical engineering and metal products sub-sectors.
- Total order books were reported as below “normal” but improved relative to last month (-19% from -27%). The level of order books remained below the long run average (-13%).
- Export order books were also seen as below “normal” in November to the same extent as last month (-27%). This was also below the long-run average (-18%).
- Expectations for average selling price inflation rose in November (+11% from 0% in October) with the balance standing broadly in line with the long-run average (+7%).
- Stocks of finished goods were seen as more than “adequate” in November (+21% from +17% in October), with the balance the highest since August 2020.
Paul joins Finance Yorkshire board in non-exec capacity
Two new firms move into Dean Clough at Halifax
Industrial valve engineering and manufacturing company Severn Glocon and Simply Paving have taken space at the Dean Clough complex in Halifax.
Severn Glocon has secured a 2,460 sq ft of office space in Crossley Mill for its new Engineering Centre of Excellence, and Simply Paving has taken a 1,918 sq ft workspace in F Mill.
The Severn Glocon Centre will serve as a hub for advanced engineering projects, fostering collaboration across disciplines and enabling the development of cutting-edge valve technologies that meet the most stringent of industry standards and customer demands.
Jonny Walker, UK Engineering Director, Severn Glocon, said: “We are proud to launch our new Engineering Centre of Excellence at Dean Clough which marks a pivotal moment for Severn Glocon. This facility will be the engine that drives our next phase of innovation, combining industry-leading expertise with the latest technological advancements.
“Our team of highly skilled engineers will have access to the tools and resources they need to push the boundaries of what’s possible in valve design, development, and performance. It’s a significant investment in our people and processes, reinforcing our commitment to engineering excellence.”
The Engineering Centre of Excellence at Dean Clough will play a critical role in Severn Glocon’s training and development programmes, offering a unique environment for upskilling future engineers and deepening expertise across the organisation. It will support the company’s talent pipeline.
Simply Paving is a supplier of Bradstone paving and landscaping products, and a trading division of Aggregate Industries UK Ltd, itself part of global operator, Holcim. Dean Clough becomes the new headquarters for Simply Paving which provides paving products direct to the customer as well as to the trade sector UK-wide.
Jeremy Hall, Chairman and MD at Dean Clough Ltd, said: “We welcome Severn Glocon and Simply Paving to the Dean Clough family. This demonstrates that if we invest in the right environment, we can indeed attract global operators to the thriving town of Halifax as a viable alternative to city centre locations.
“We truly believe that a diverse amenity and cultural experience – as we have at Dean Clough – is so vitally important in creating the environment that people want to come to and work within. This is a key ingredient in attracting major business occupiers, alongside the indisputable carbon benefits that the reuse of historic buildings brings for sustainable practice.
“There is such a vibrant offering on site now at Dean Clough, with a fabulously diverse range of cafes, bars, restaurants, beauty and hair salons, wellbeing centres, therapists, retailers, galleries, event space, a theatre and even an onsite creche. With the enviable combination of landscaped space, engaging public realm, and ample onsite parking, we feel that Dean Clough contributes so much to the overall cultural reputation that Calderdale so richly deserves.”