Pharmaceutical packaging firm placed into administration

Tess Egginton
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Pharmaceutical packaging firm placed into administration

Pharmaceutical Packaging (Leeds) Ltd has ceased trading and been placed into administration, with Mark Hodgett and Phil Pierce of specialist business advisory firm FRP appointed as joint administrators.

Based in Holbeck, Leeds, the firm used cutting edge technology to create bespoke labels for a range of national and multi-national organisations.

Due to the impact of rising supply costs and supply chain inflation, the firm was no longer able to meet its financial obligations. The firm has now ceased trading and has been placed into administration, with 21 employees made redundant.

Five employees will stay on to help FRP carry out an orderly wind down of the business over the next few weeks.

Mark Hodgett, restructuring advisory partner at FRP and joint administrator of Pharmaceutical Packaging (Leeds) Ltd, said: “Pharmaceutical Packaging had operated in the local area since 1878 and unfortunately, mounting external pressures, most notably rising costs, made the business financially unviable.

“Regrettably, this meant 21 staff were made redundant on appointment. We’re now supporting the individuals affected and preparing for an asset sale.”

Employers have a role in supporting mental health, says HR consultant

Stuart Pearcey
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Employers have a role in supporting mental health, says HR consultant
HR Consultant Laura Reilly, is urging Lincolnshire businesses to support the Samaritans’ “Talk to Us” awareness day on July 24th. She says that as mental health continues to be a pressing concern in the workplace, the day is a great opportunity to raise awareness about mental health struggles among employees. According to recent statistics, mental health problems affect one in four people in the UK, with employees experiencing high levels of stress, anxiety, and depression. Laura owns and runs Taurus HR Solutions. She said: “Employers have a key role to play in promoting good mental health in the workplace. The Samaritans’ “Talk to Us” Awareness Day provides a great opportunity for businesses to show their support and raise awareness about this important issue.” To support their employees, Laura recommends that business owners take simple steps such as sending a quick email to their team on the 24th of July, highlighting the Samaritans’ “Talk to Us” campaign and providing links to support resources. These resources can include mental health helplines, employee assistance programs, and mental health first aid training. Laura added: “Small gestures can make a huge difference. By showing their support and providing access to resources, employers can help to reduce the stigma around mental health and create a culture of openness and support.” Laura is available to provide guidance and support to businesses looking to promote good mental health amongst their employees and is a Mental Health First Aider.

BCC hopes tiny unemployment rise is merely a blip

Stuart Pearcey
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BCC hopes tiny unemployment rise is merely a blip
Despite unemployment remaining low, the British Chambers Of Commerce organisation hopes the latest 0.2 percentage point increase is a blip rather than a sign of a deeper trend. Says Jane Gratton, Head of People Policy at the BCC: “We remain concerned about the persistent tightness in the labour market, adding to the costs and difficulties facing businesses. “Staff shortages continue to damage growth and business activity. Our research shows that three quarters of firms are facing skills shortages, and in some cases, this means turning away new business. “Fierce competition for skills, wage demands and candidates’ expectations leave many businesses with job vacancies they can’t fill. All of this, on top of rising interest rates, and stubbornly high inflation, makes it a perilous environment for business. “The Government must support more people back into work and create the right conditions for employers to invest in staff training and development, which takes time. “Firms need action now to fix the short-term issues they face in staff recruitment and retention. If employers cannot recruit and train from their local or national labour market, a flexible, efficient and affordable immigration system is crucial and must be a priority to stop wage inflation and get the UK back to healthy growth.”

IT and telecoms company secures £1.4m to complete MBO and support growth

Tess Egginton
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0
IT and telecoms company secures £1.4m to complete MBO and support growth
A Hull company which provides managed IT and telecoms services has secured a £1.4m debt funding package to enable it to complete a management buy-out and support the next phase of its growth. The One Point has secured funding from Mercia’s SME Loans fund and NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund. The deal will give the company’s founder Martin Lauer a majority shareholding and enable Spectrum, a Hull-based managed print and digital services firm which has been a partner in the business since 2014, to exit the company and focus on its new digital growth strategy. Founded in 2005, The One Point provides a single point of contact for businesses seeking IT services and support, cybersecurity, digital services, CRM systems, apps and internet-based phone systems, data and mobile solutions. The company, which has its headquarters in Hull and offices in Newcastle and Cleckheaton in West Yorkshire, has grown overall turnover by around 65% in the past five years. Demand for outsourced IT services is particularly strong, with revenues for its managed IT division up by 79% in the past two years. The One Point currently employs around 40 staff and expects to create an additional 20 jobs by the end of 2025. The SME Loan from Mercia was used to complete the buy-out while the NPIF funding will support the company’s further growth. Martin Lauer, founder and CEO, said: “With an increasing number of companies outsourcing IT services, our business has been growing rapidly. With the backing of Mercia and NPIF, we can now focus on meeting this growing demand and strengthen our presence in the region, particularly in Yorkshire and the North East, to take the business to the next level.” Mike Rogers and Rebecca Pickering from the Mercia team worked on the investment.  Rebecca Pickering said: “The One Point enables businesses to access a full range of services from just one phone call rather than dealing with different suppliers. “Martin and the team have built a great business with a strong regional presence. The funding will allow him to take full control of the business and allow both parties to pursue their separate growth strategies.” Independent consultant Richard Townsend provided fundraising advice to The One Point.

West Yorkshire truck and van parts supplier sold to Johannesburg Stock Exchange-listed company

Tess Egginton
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West Yorkshire truck and van parts supplier sold to Johannesburg Stock Exchange-listed company
West Yorkshire-based motor and engine parts supplier ImexPart has been sold to a South African industrial consumables group in a deal overseen by KBS Corporate. ImexPart, located in Castleford, is an independent truck, bus and engine parts specialist which has served the automotive industry since 1986, employing over 70 staff working from purpose-built depots in northern England and the Midlands. KBS Corporate was instructed to facilitate a sale of the company and, under the guidance of Joe Norris, associate corporate director, the successful acquirer was Invicta Holdings Limited. Based in Johannesburg, Invicta listed on the JSE in 1989 and the Group has expanded over the subsequent decades with acquisitions of companies not only in South Africa but also Asia and Europe. It controls and manages assets of over 10 billion rand (£421 million) and employs over 4,500 people worldwide. “This was my first dealing with Invicta, but their record of growth and profitability across several sectors speaks for itself,” said Joe Norris. “They are also a publicly listed company which means they are extremely transparent, so both ImexPart and myself could get a good idea of the company ahead of our initial discussions. “They plan to partner ImexPart with their existing automotive parts businesses across South Africa and Europe to create a stronger presence in the UK market.” Joe Norris also described the appeal of ImexPart to the acquirer, with the company, which trades under the name of Imex Automotive Parts Solutions, supplying over 15,000 customers with replacement truck parts and enjoying continued growth with hundreds of calls each day received at its main office and warehouse. “ImexPart stood out from the rest of the market due to its level of profitability and healthy growth projections, along with strong client relationships resulting in a high level of repeat business,” explained Joe. “The shareholders were looking to start the process of stepping back from the business, while also making sure the company was in the right hands to take it forward into the future and achieve its full potential.” In announcing the acquisition to the Johannesburg Stock Exchange, Invicta said their “strategic focus is to diversify into new geographical areas, in the industries and markets in which Invicta has significant experience and strong management capabilities.” The statement added: “Imex is operating successfully in the British and Irish aftermarket parts distribution industry and its acquisition provides a platform for Invicta to grow its global RPA (Robotic Process Automation) business. “We aim to realise synergies through Invicta’s procurement capabilities, sourcing inventory for Imex’s clients on a more cost-effective basis and providing access to a broader range of products. “In addition, Imex has product ranges which can be cross pollenated into Invicta’s existing operations.” Legal services for ImexPart were provided by Schofield Sweeney.

Significant deal completed at Leeds office and retail complex

Tess Egginton
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Significant deal completed at Leeds office and retail complex
A significant deal has been completed at The Bourse, an office and retail complex in Leeds city centre. Award-winning recruitment consultancy The Prospero Group has taken 2,701 sq ft of newly refurbished office space on the ground floor of Sterling House, one of the three self-contained buildings which comprise the Bourse. The rent is £21.50 per sq ft on a five-year lease. The Bourse is a building on Boar Lane less than 100 yards from Leeds Station and features 50,000 sq ft of space over three buildings, overlooking a central courtyard. Each of the buildings, Equity House, Sterling House and Bond House, has its own designated entrance with an NCP multi-storey car park to the rear. The Bourse has undergone a comprehensive multi-million pound refurbishment. The Prospero Group, which was founded in 2000, specialises in the teaching and health and social care sectors with offices throughout the UK and abroad. The group has doubled in size every year for the last three years. Associate director Ed Brewer said: “Our Leeds office opened in September 2015 and has contributed significantly to the overall success that the company has had, helping to build our presence in the city and surrounding areas. “With Prospero’s Leeds division continuing to go from strength to strength, there is now a need to have premises that can cater for our growing team, allowing us the ability to scale at pace. “The Bourse very much aligns with our vision, providing an office space that is clean, spacious, well-designed and maintained and a working environment our staff can be truly proud to work in. “Its close proximity to Leeds’ mainline station provides easy access to staff, particularly employees who will be travelling from our many different office locations across the UK. “With new offices opening up across the UK and further expansion plans in place, there is a focus to increase headcount across our core divisions.” Victoria Harris, senior surveyor with global property consultancy Knight Frank in Leeds, who advised landlords Paloma Capital on the deal, said: “We are delighted a company of the calibre and reputation of Prospero has taken quality space at the Bourse. This deal underlines the Bourse’s reputation as one of the finest office buildings in central Leeds. “It is worth noting that we had plenty of interest in this Sterling House suite because of its large windows, high ceiling and period feel, coupled with the fact that it is self-contained with a dual aspect on to the Bourse Courtyard and Trevelyan Square. “Space is now at a premium at the Bourse, with Bond House now full. There are now just suites on the third floor of Sterling House left, which are available either individually or as a whole (617-1,875 sq ft). Given the high-quality of the space in this special building, together with its magnificent location, these offices should prove very popular, especially to up-and-coming creative firms which are starting to thrive in Leeds. “The extensive renovation works have transformed The Bourse into a welcoming and attractive environment. Meanwhile the vibrancy of the immediate area, with the new bars and restaurants, as well as the brilliant Trinity Leeds shopping centre, gives occupiers exactly what they want. The Bourse is a hidden gem in the centre of the city.”

Building phase complete at revamped Leeds Media Centre

Tess Egginton
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Building phase complete at revamped Leeds Media Centre

Building work has been successfully completed in a major redevelopment of Leeds Media Centre to create extra business space and new opportunities for aspiring entrepreneurs in the city. 

The £1.8 million scheme is being delivered by Unity Enterprise – a not-for-profit subsidiary of housing association Unity Homes and Enterprise – in partnership with Leeds City Council.   

It has been part-financed by the European Regional Development Fund including support for a professional adviser to mentor young businesses, particularly those in the creative, digital and media sectors.  

The construction phase began last autumn with scaffolding erected around the perimeter of the building in Chapeltown in preparation for the installation of a new roof and windows.

Extensive internal works have also been undertaken to remodel the ground and lower ground floors to facilitate up to 12 new business units and a specially designed business hub with modern virtual facilities.  

The completion of the refurbishment programme will be celebrated at a community gathering in September with a separate event planned for the following month focusing on the new business hub.   

Leeds Media Centre is owned by Leeds City Council and managed by Unity Enterprise on a long-term lease.   

Cedric Boston, Unity Homes and Enterprise Chief Executive, said: “It is incredibly satisfying to see the building phase of this transformational project completed on time and on budget. Anticipation is already building around what the new facilities will achieve for enterprise in Chapeltown and beyond. 

“As a housing association rooted in the local community, Unity is passionately committed to helping individuals improve their life prospects by setting up their own business, finding employment or accessing training and education. The brand new facilities at Leeds Media Centre will play a huge role in enabling us to achieve these goals.”

Adrian Green, Unity Enterprise manager, said: “We are grateful to our key partners, Leeds City Council and the European Regional Development Fund, for working closely with us to get this innovative project across the line.

“Having been onsite almost every day since building work commenced, I feel greatly inspired by the potential that Leeds Media Centre now offers to aspiring entrepreneurs to develop themselves and their business ideas.

“I also want to thank our existing tenants who have been so supportive and patient over the past few months. Exciting times lie ahead.”    

Cllr Jonathan Pryor, deputy leader and executive member for economy, culture and education at Leeds City Council, said: “It’s great to see the building phase complete on these fantastic new facilities at Leeds Media Centre. 

“The centre will be an excellent resource for local, new and aspiring entrepreneurs in the city, and we are very much looking forward to seeing the building open for business.”

The World is not enough for Doncaster engineering company

Stuart Pearcey
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The World is not enough for Doncaster engineering company
The World is not enough for Doncaster-based precision-engineering company Agemaspark which wants to develop its specialist services into the space sector. MD Paul Stockhill said: “We don’t believe that the world is our oyster, we believe the opportunities go beyond that. We see the space sector as a great opportunity, opening up a realm of extraordinary engineering possibilities. With our extensive expertise and commitment to innovation, Agemaspark aims to play a key role in the space industry, offering specialised components and solutions. “We are keen to explore the opportunities to collaborate with key stakeholders in the space industry, providing unmatched expertise and cutting-edge solutions to meet the evolving demands of this dynamic field,” he added. The company has already played its part in a mission to Mars, having done specialist work on four engine casings that required 1.2mm diameter instrumentation holes created in 150 positions. The components were then sent some 33.9 million miles from Doncaster to the Red Planet.

More money means more railway innovation at Goole

Stuart Pearcey
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More money means more railway innovation at Goole
A new world-leading railway research and innovation centre is to be established at Goole by the University of Birmingham, supported by Siemens Mobility, which has been awarded £15 million by the UK Research Partnership Investment Fund. The investment will mean the University of Birmingham, working with the University of Huddersfield, be able to establish a new Centre of Excellence for Railway Through-Life Engineering alongside the major new Siemens Mobility train manufacturing facility in Goole, due to open in 2024. The funding is part of £30m announced through the UKRPIF fund to establish two new world-leading railway research and innovation facilities, with the other being a new Centre of Excellence for Railway Testing, Validation and Customer Experience in South Wales. The funding bid includes a wider commitment from the rail industry to co-invest £60m, with a further £16m being invested by the University of Birmingham. In total the package represents a £106m boost for UK research and development. The new Centre of Excellence for Railway Through-Life Engineering in Goole will be next to the Rail Accelerator for Innovation Solutions and Enterprise business centre and within the major new Siemens Mobility rail village. This Centre will provide cutting-edge facilities to support the build, service, maintenance, and modernisation of railway rolling stock with a focus on robotics, sensing, and automation. Siemens Mobility is investing up to £200m in Goole, a site that spans 67 acres. The new train manufacturing facility will create up to 700 skilled jobs, as well as up to 1,700 in the supply chain and 250 during construction. In April 2023 the components facility opened, this is where gearboxes, traction motors and other parts for trains and tram fleets across the UK are maintained. Trains for the UK market will be built at the new factory, starting with new Piccadilly line Tube trains for London, with manufacturing due to begin in Goole next year. Professor Clive Roberts, BCRRE Director, said: “With the new factory and centre of excellence underway we are determined to build, grow, and innovate the UK railway system. “As a global leader in railway research and education, we work with partners across the world to develop their workforce and their technical and operational capabilities and it starts on our doorstep. We champion SMEs and work closely with supply chains to introduce new ideas, new ways of working and cross sector collaboration. “With this new funding our aim is to have the capabilities and tools for through life engineering from conceptual design all the way to end of life with a focus on robotics, sensing and automation, coinciding with our Centre of Excellence in Digital systems.” Sambit Banerjee, MD Siemens Mobility UK Rolling Stock and Customer Services, said: “This is fantastic news, not just for Goole but the rail industry as a whole. Our vision was always much more than just building a train factory, we want to have a full rail village for the industry and to create a lasting skills legacy in Goole. Bringing academia, with the University of Birmingham and University of Huddersfield, and industry together in one site is exactly the kind of opportunity that will continue to foster collaboration and innovation across the UK rail industry as well as support the economy.”

Farmers to get more powers and security over dairy pricing

Stuart Pearcey
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Farmers to get more powers and security over dairy pricing
Regulations set to come into force later this year will ensure supply contracts in the dairy sector are fair and transparent, with farmers being paid a fair price for their produce. The regulations will mean:
  • Farmers have clearer pricing terms, with contracts setting out the factors which generate the milk price and allowing them to challenge prices if they feel this process isn’t being followed. This is a major advance in transparency, which ensures fairer pricing and addresses historical discrepancies in the dairy industry.
  • Changes to contracts can’t be imposed on farmers without their agreement. This will encourage dialogue between the parties where changes do need to be made – improving trust within the supply chain.
  • Farmers’ contracts will all include a straightforward way to raise concerns about their contracts, promoting accountability and timely issue resolution.
  • There will be clear rules put in place on notice periods and contractual exclusivity, protecting the rights of both buyers and sellers. This will remove any ambiguity from contracts and protect the rights of both buyers and sellers.
  • An enforcement mechanism is created to guarantee the regulations are followed, ensuring a fully fair and transparent dairy industry on a solid foundation to thrive in the future.
Farming Minister Mark Spencer said; ‘Farmers must be paid a fair price for their produce and these regulations will provide price certainty and stability for farmers by establishing written milk purchase agreements with clear and unambiguous terms. “This represents a key milestone in our commitment to promote fairness and transparency across food supply chains to support farmers and build a stronger future for the industry, and will be followed by reviews into the egg and horticulture sector supply chains this autumn.” NFU dairy board chair Michael Oakes said: “These new regulations mark a significant step forward in the government’s efforts to increase fairness and transparency in the dairy supply chain. “For a long time, unfair milk contracts have held British dairy businesses back, and these changes will give dairy farmers much needed business security and confidence, as well as helping to share risk along the dairy supply chain. “This announcement signals that we are on the right path to building a stronger, more resilient future for the British dairy sector. We will continue to work with the government and wider industry to not only benefit farm businesses and the supply chain, but the millions of people who value access to quality, sustainable, nutritious British milk.”
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