Boston Energy receives significant investment as private equity investor backs MBO
LDC, the private equity investor, has made a significant investment in Boston Energy, a technical services provider to the wind energy industry, as it targets further international expansion.
Based in Beverley, East Yorkshire, Boston Energy employs and trains specialist technicians to support the build and maintenance programmes of onshore and offshore wind farms across the globe, including in Europe, APAC and North America. Boston Energy’s client base includes the world’s biggest OEMs and Wind Farm Operators.
LDC’s investment will enable Boston Energy to take advantage of opportunities to grow in all of its core markets globally to support the transition to a clean energy economy. LDC is backing Boston Energy’s CEO Julian Cattermole in a management buyout from the wider group of Bostonair companies. Mark Parkes, who founded Bostonair Group in 1997, will remain involved in the business as a major shareholder and non-executive director.
Mark Parkes, founder of Bostonair Group, said: “It’s remarkable to reflect on how much the industry has evolved since we started the business over a decade ago. During that time, we’ve maintained our commitment to our customers and, with LDC’s support, we’ll continue to provide them with the very best tailored service.
“LDC’s heritage of supporting the growth of Yorkshire-based businesses combined with being part of Lloyds Banking Group – one of the UK’s most active supporters of the UK offshore wind industry – make it the ideal partner and means we’re perfectly positioned to start this new chapter.”
Julian Cattermole, CEO, Boston Energy, said: “The wind energy industry is growing rapidly and there are more opportunities than ever for our business to expand our offering on the back of rising demand for our services.
“Our partnership with LDC will help us to respond to the growing demand for our services at pace and continue to invest in our expert technicians, whose exceptional service is the foundation of our customer relationships.”
The investment was led by Dan Smith, partner and head of Yorkshire at LDC, investment director James Marshall and investment manager Anthony West.
Dan Smith, partner and head of Yorkshire at LDC, added: “Boston Energy is a high-quality service provider in a sector that will play an essential role in the global transition towards net zero.
“The business’s success is also a great example of a homegrown company with international reach that is raising the profile of the Humber as a global renewable energy hotspot. We’re looking forward to supporting Julian, Mark and the rest of the team as they continue to drive the business forward in the years ahead.”
Boston Energy and the sellers were advised by KPMG, who provided Corporate Finance (led by Christian Mayo and Jordan Raiye), Legal and Tax services.
LDC was advised by Clearwater International (Corporate Finance and Debt), Grant Thornton (Financial and Tax DD), Addleshaw Goddard (Legal), and Calash (Commercial Due Diligence).
A regional HSBC team led by James Scholes is supporting the transaction with senior debt and working capital facilities.
Estate agency names new sales negotiator for York office
Estate agent Dacre, Son & Hartley has appointed Mindy Pearson as a sales negotiator in its growing York office.
Mindy, who lives in Malton, has previously worked for a national estate agency group as well as marketing and managing holiday lets. In her new role she is responsible for liaising with both buyers and sellers, as well as hosting property viewings and supporting the office’s branch manager and wider team to ensure transactions run smoothly.
Dacre, Son & Hartley opened in York last summer and moved into its double fronted Micklegate showroom in April. The office is in a prime position within the city walls, and offers highly visible display facilities, as well as valuable support for the firm’s other 19 offices across North and West Yorkshire.
Mindy said: “Moving to Dacre, Son & Hartley is an opportunity to join a very reputable and independent business and be part of its growth in York, which makes it both a challenging and exciting role.
“York has a gem of a property market, which is largely insulated from what happens in other areas of the country, in terms of prices and activity levels, which are currently buoyant. This comes down to lots of factors including its leading universities and historic city centre, which is a global tourist hotspot. In addition, its central location in the UK, which offers regular direct rail links to the likes of London and Edinburgh, adds to its popularity.
“We’re currently marketing a mix of homes, from a stunning riverside four-bedroom terrace just off Marygate and the Museum Gardens in York city centre, to a newly refurbished four-bedroom family home with large gardens, that’s full of energy saving technology, at Linton on Ouse. We’re now looking forward to building on this further over the summer months.”
Chambers see ‘tentative but promising’ signs of easing financial pressures for firms
A new survey by Barnsley & Rotherham, Doncaster and Sheffield Chambers of Commerce suggests that financial pressures are easing for businesses.
In a joint statement about the survey’s findings, the CEOs of the Chambers have issued a joint statement. They say: “Our survey results show promising, albeit tentative, signs that financial pressures are beginning to ease for businesses, though this still remains a pressing issue across all sectors.
“It’s encouraging to see that, for the third consecutive quarter, expectations of both improved turnover and profitably have increased, suggesting that there is a broader feeling of optimism for the months ahead. Better still, we are pleased to report that 93% of firms that were polled agree that South Yorkshire is a fundamentally good place to do business. This suggests that businesses feel that there are opportunities available to them locally and that organisations are doing what they can to promote a positive business environment. There is, of course, always room for improvement.
“While some key areas are stronger than they have been in recent quarters — such as those relating to cash flow positions, price increases and capacity — it is worth stressing that indicators of financial pressure do remain.
“Concerns about inflation might be lower than they have been since the end of 2021, but that’s only a relative drop from a historic high. Meanwhile, subdued economic activity continues in South Yorkshire, with weak growth being reported in terms of both domestic sales and overseas orders.
“Not to mention, hiring conditions are still proving to be a massive challenge for businesses. A staggering 94% of firms told us that they have experienced recruitment difficulties this quarter, which is a worrying jump from the 87% that was recorded this same time last year. In particular, businesses are struggling to attract skilled manual & technical workers, as well as professional & managerial talent. Of course, the tight market is, in and of itself, a significant contributor to the runaway inflation that is presently bedeviling the economy.
“As for how South Yorkshire employers are being affected by The Cost of Living Crisis, we learned that the vast majority have discussed the prices of either utilities (85%), food (76%) or petrol (61%) with their staff in the last six months. In an effort to try and support employees with these strains, 70% of businesses said that they have increased wages, and nearly half are now offering mental health support. This acts as yet another reminder of the civic and social commitments exhibited by our employer communities.
“All in all, this latest QES highlights positivity in some areas, and persisting concerns in others. As Chambers, we will of course be advocating for any measures that might help to restore business confidence — whether that’s a rethinking of business rates or the campaign to save Doncaster Sheffield Airport. We have also been working closely with employers, training providers and other key stakeholders on a Local Skills Improvement Plan for the region, which will help address those recruitment difficulties that so many firms are encountering right now.”
Bradford gets £10m cash injection to help create almost 7,000 jobs
Bradford is to be given £10m to kick off its year as City Of Culture, which it claims will generate almost 7,000 jobs in the city.
The investment will support the delivery of Bradford’s programme of cultural activity over the year – ranging from live performances in existing cultural venues to pop-up experiences in a bespoke touring venue, Beacon.
About 1,000 performances will take place in 2025, developed with local artists and creatives. They are expected to attract 15.5 million visitors and bring an additional visitor spend of £136.9 million into the local economy over the course of the year.
The increased cultural and economic activity is expected to deliver up to £389 million of growth for Bradford as UK City of Culture 2025.
The funding boost will also help Bradford with its ambition, set out in its bid to host the event, to create 6,845 new jobs and opportunities right across the city by 2030.
In addition, Arts Council England is allocating £5 million in National Lottery funding to support Bradford’s programme during its tenure as UK City of Culture.
The National Lottery Heritage Fund also confirms today it is awarding £4.95 million specifically to develop a programme of activities to bring the diverse heritage of the city to the fore during 2025’s celebrations.
Culture Minister Stuart Andrew said: “With its unique culture and young and vibrant population, Bradford will be a fantastic host for the UK City of Culture 2025. We are investing £10 million in the city this year to help prepare for the event so we can make sure it stimulates new jobs and growth in the local economy through culture.
“We want to open up access to the arts, create opportunities for young people, and inspire our next generation of writers, artists and performers.”
Barnsley leads the nation to extended childcare provision by nurseries
Barnsley’s local authority is one of 16 nationwide selected by the government to help it work towards the ambition for all parents of primary school aged children to access childcare in their local area between 8am and 6pm.
The announcement came as it was revealed that nurseries are set to receive a £204 million cash boost as part of the Government’s promise to deliver the largest ever investment in childcare.
The plans are designed to remove significant barriers to support parents to return to work and help to grow the economy by making childcare more accessible.
Every area across the country is getting a share of the government funding which childcare providers can use to ease cost pressures such as staffing costs, training and bills. Funding rates per child paid from September will increase from an average of £5.29 to £5.62 for three and four-year-olds, and from an average of £6.00 to £7.95 for two-year-olds.
From April 2024, eligible working parents of two-year-olds will get a new offer of 15 free hours per week of free childcare. From September 2024, eligible parents will get 15 free hours from nine months until their children start school, and from September 2025, they will get 30 free hours from nine months until the start of school.
All local authorities will start to receive their share of £289 million in funding from January 2024 to support their delivery of the programme, with parents expected to see an expansion in the availability of wraparound care from September 2024.
Chancellor of the Exchequer, Jeremy Hunt said: “I know the cost of childcare can be a real struggle for parents and can become a barrier to work. That’s why we announced the largest ever expansion of free childcare at Spring Budget, and today we’re increasing hourly funding rates to make sure the system is ready to deliver, including uplifting rates for a two-year-old by a third.”
Catering equipment firm changes hands in management buy out
More than 20 years after founding Denby Catering Equipment MD George Hartley is retiring and handing over the reins of the Wakefield-based business to former accounts and service manager Richard Garfitt following the completion of a Management Buy Out.
Richard, 29, joined the business ten years ago in an office administration/purchase ledger role, going on to manage client accounts, developing extensive product knowledge and becoming involved in all aspects of the business’ operations, including project quotations and design.
The £1.8m turnover business comprises a team of experienced kitchen designers and project managers who specialise in the design, supply and installation of catering equipment for commercial kitchens, from one-off replacements to total re-fits. Their expertise includes supply of prime cooking equipment, kitchen ventilation and extraction systems, bespoke stainless steel fabrication, refrigeration (cold rooms and freezer room installation), and repairs, servicing and installations by their in-house Gas Safe registered team.
Denby Catering Equipment has established a strong track record working with local authorities across the UK to supply commercial kitchens in schools, colleges, universities and hospitals, as well as in care homes and sheltered housing accommodation. Its clients include Derbyshire County Council and Wakefield Council.
The deal was supported by Calvin Dexter from Calvin Dexter Financial Solutions in Leeds who acted as fundraising adviser for the MBO. The deal was funded by an SME loan from Mercia, with the Mercia team led by Mike Rogers. Legal advice to Garfitt-Robinson Holdings Limited was provided by Nicola Cooper of Clarion; with financial advice from Mark Spencer of Beaumonts Chartered Accountants in Wakefield.
Founder and former managing director George Hartley said: “Having spent the last 40 years in the catering sector, I have passed on as much knowledge as I can to Richard who joined us early in his career with the appetite and potential to learn, and has demonstrated he has the versatility to flourish in a company like this. He knows the business inside-out and his skills now cover our entire process – I am happy to be leaving Denby in his capable hands.
“Given Richard’s strong client relationships, it will be a seamless transition as the business moves into the next era. Congratulations to Richard and I wish him every success for a prosperous future.”
Balfour Beatty prepares to start £43.5m transformation project in Bradford
Work on a £43.5m transformation of Bradford city centre and build on the city’s architectural legacy is set to begin on Monday as part of a scheme delivered by Bradford Council, in partnership with the West Yorkshire Combined Authority.
The works are being delivered through the Combined Authority’s Transforming Cities Fund programme, which is aimed at making it easier for people to walk, cycle and use public transport.
Balfour Beatty is the construction partner on the project. It’s Area Director Stephen Semple said: “We are excited to start transforming Bradford city centre, turning the City of Bradford Metropolitan District Council and West Yorkshire Combined Authority’s vision into reality.
“Once complete, the scheme will leave a lasting, positive legacy for local communities and residents alike; providing additional green public spaces and new active travel routes which will significantly reduce air pollution in the City Centre.”
Set to deliver the perfect stage for the City of Culture celebrations in 2025, the progect will create a series of new public spaces through the pedestrianisation of some roads, while existing spaces will be brought up to a similar high standard. The new spaces will feature high-quality paving and landscaping, with new green areas, planting and seating, delivering the perfect spaces for public events or gathering to meet friends and family.
A new ‘linear park’ will be created to replace the majority of the existing road space on Hall Ings, featuring new trees and other types of planting. Demolition of the NCP car park is also due to start from late July 2023 to enable a new access point to the Interchange. Together, these elements will create a dramatically improved sense of arrival to the city centre for visitors and commuters alike.
The scheme will modernise the city centre to showcase it at its best, providing attractive new links for people walking or wheeling between the abundance of culture and entertainment venues as Bradford becomes a social city. The end result will provide the perfect setting for residents and the thousands of visitors due to descend on Bradford for the City of Culture year and beyond.
Alongside this, improved cycle routes will be created across the city centre connecting current and planned cycle routes, while enabling people to travel around and across the city in a more sustainable way.
Creating new attractive public spaces with greenery, reducing pollution and making it easier for people to get around the heart of the city centre without negotiating heavy traffic is seen as crucial to creating the right environment to boost the city centre residential population, attract new employers, and create an appropriate setting for the city centre as a thriving visitor destination.
Work will be in two phases; the first will see enabling works on road and pavements around the city centre, and the second will begin in 2024 and will create the new public spaces and walking and cycling routes in the city centre heart, with the vast majority of work due to be completed in time for the City of Culture celebrations starting in 2025.
The Council is warning that disruption and delays to journeys to and from the city centre are likely from the start of construction on 10 July, until the core elements of the works are completed in late December. Significant delays are inevitable at peak times, with the potential for delays at other times.
From January 2024, phase one works to the highway around the city centre will tail off, and bus services will move to their new routing, allowing traffic to flow more normally. While the second phase of works will see significant construction move to the heart of the city centre itself, pedestrian access will be maintained and vehicular access will remain largely unchanged apart from the removal of access to Hall Ings, which will be largely pedestrianised. As a result, disruption should thereafter be greatly reduced up to the scheme being completed in late 2024/early 2025.
Councillor Susan Hinchcliffe, Leader of Bradford Council, said: “We are ambitious for Bradford District, both in terms of driving the economy and seeing Bradford become one of the UK’s most vibrant and sustainable cities.
“Bradford has the potential to have one of the most attractive, accessible and dynamic city centres in the country and we are confident this scheme will deliver that. People will see a transformed city centre that they want to visit when the works are complete.”
Coney Street Riverside receives support of York & North Yorkshire Chamber of Commerce
York & North Yorkshire Chamber of Commerce has publicly pledged its support to Helmsley Group’s Coney Street Riverside masterplan.
The business support organisation, alongside its influential York & North Yorkshire Property Forum lobby group, have urged York City Council to approve the planning applications submitted by the York-based property specialist for the scheme.
The positive comments have been formally submitted to York City Council as part of the planning process.
Proposals for the major regeneration project include the creation of 250,000 sq ft of mixed-use retail, leisure, commercial, residential and extensive public realm.
The vision also supports the introduction of a boutique, independent retail experience, alongside the creation and rejuvenation of the historic lanes and passageways joining Coney Street and the River Ouse together, helping to make the riverfront accessible to all.
Laurence Beardmore, president of York & North Yorkshire Chamber of Commerce, said: “As the Chamber of Commerce, and the York & North Yorkshire Property Forum, we would like to state our support for the exciting and innovative plans that the Helmsley Group is proposing for Coney Street.
“We believe these plans will help to regenerate this part of the city centre in a manner sympathetic to the environment and heritage of our city. It represents a major investment in York that will benefit residents, visitors and businesses alike.
“The new riverside access along with retail and leisure destinations will contribute to the continued improvement of York city centre and vastly improve the public realm in the area.
“These plans will also provide significant economic benefits to the city including the creation of both jobs and increased economic opportunities and will act as a catalyst for further investment and improvements throughout the city centre.
“They will also fully utilise currently underutilised buildings and we would urge York City Council to support these ambitious proposals and approve these planning applications.”
Max Reeves, development director at the Helmsley Group, said: “We are grateful to both York & North Yorkshire Chamber of Commerce and York Property Forum for pledging their backing and public support to our vision for Coney Street Riverside.
“Both are influential groups within York and across the wider region as well as being representative of hundreds of leading organisations and people.
“Their support, alongside the extensive consultation work we have undertaken, is further evidence of the positive way our proposals have been received in the community.
“As we have previously stated, Coney Street Riverside offers a once-in-a-lifetime opportunity to deliver the city’s long-held ambition to reinvigorate a loved but sadly under-appreciated area, reconnect Coney Street with its riverfront, create much-needed public realm of national standing and improve both connectivity and accessibility within central York. It builds on our vision to honour the area’s rich heritage while sensitively taking the necessary strides required to secure its long-term future.”
Coney Street Riverside is the latest project from Helmsley Group, which has been responsible for delivering landmark schemes across the city for the last 42 years, including the Old Fire Station, Westgate and Merchant’s Exchange on the Riverfront.
Andrew Jackson makes senior solicitor promotion
Regional law firm Andrew Jackson Solicitors LLP has promoted Grace Moreton to the position of senior solicitor in the corporate recovery and insolvency team.
Grace trained and qualified as a corporate solicitor, gaining valuable experience of acting for a range of businesses across different sectors before specialising in restructuring and insolvency work for clients based in the UK and overseas. Her broad client base includes company directors, corporate stakeholders, financial institutions, and insolvency practitioners.
Grace’s work focuses on non-contentious insolvency and restructuring matters, which require specialist knowledge of company procedures including share allotments and transfers, and the preparation and completion of company documentation. She is particularly experienced in drafting and advising on asset sales and purchases, bank security reviews, insolvent property and real estate work, and commercial contracts.
Azher Quyoom, partner, and head of corporate recovery and insolvency at Andrew Jackson Solicitors, said: “Since joining the team, Grace has proven her ability to offer commercial, strategic advice to clients across a broad range of restructuring and insolvency scenarios, from company director disqualification matters, through to restructuring and turnaround assignments and refinancing work on behalf of financial institutions.
“Grace is committed to the provision of trusted legal advice in a commercial and practical manner, which is consistently recognised in our client feedback right across the firm, and there is no doubt that she is an asset to the practice.”
Plans unlocking the development of three empty Hull city centre sites to be considered
Hull City Council’s Cabinet will consider ambitious plans to unlock the development of over 1,000 new homes on three empty city centre sites.
Cabinet will decide whether to give the green light to bring forward development on brownfield sites at the East Bank, known as Eastern Quarter, at St Stephen’s Place on Colonial Street and at Myton City Gateway.
In the proposals, 850 new homes will be created in Eastern Quarter, with a further 200 at St Stephen’s Place.
These would offer the potential for high-quality apartments with activated rooftops, spaces for families, outdoor play and integrated green spaces, as well as private gardens and sports provisions.
The sites will also encourage enterprise, innovation and support the creative industries.
Myton City Gateway would be of mixed commercial use and, given its prominence and proximity to the A63 Castle Street improvements, could deliver an impressive entrance to the city centre with opportunities for retail, commercial and leisure developments.
The overall ambition of the projects is to offer new, inclusive neighbourhoods where people choose to live, work and play.
This would combine Hull’s unique features to create highly sustainable mixed-use urban developments, as well as balanced and diverse high-quality living which respects and reflects the history of each site.
Cllr Paul Drake-Davis, the council’s portfolio holder for regeneration, said: “Like many other towns and cities in the UK, there is a huge housing shortage in Hull that needs to be addressed and cannot be ignored.
“Two of the three empty sites have the potential to provide hundreds of vital new homes and it’s important the council does all it can to build homes every bit on unused brownfield land in the city.
“All three sites are also key to regenerating Hull’s urban fabric, where placemaking and high-quality design can create dynamic and exciting places to live for all generations, foster new communities and unlock opportunities for personal and economic growth.”
