Firm seeks 15 Yorkshire companies for business start up accelerator programme
Start up accelerator Unrest has picked Sheffield as the base for its next programme to supercharge businesses – and wants to hear from consumer-driven companies across Yorkshire.
The accelerator, which ran its first programme in London and helped develop 16 businesses with goals including green agendas, diversity, fertility, improved mental health, will run its next hub from Sheffield and wants businesses from across Yorkshire to apply.
The South Yorkshire Unrest Programme will start in September, and annually aims to support up to 30 North England-based, consumer-driven startups which positively impact on people’s lives.
By supporting these start-ups in its first programme outside of London, Unrest hopes to tip the scales of investment and growth, accelerating businesses forward through workshops, one-to-ones, access to a similar business community and through exclusive opportunities with its partners.
It will be delivered in partnership with Capital Enterprise (UK) Limited and Barnsley Council, and is part-funded through the European Regional Development Fund.
Orr Vinegold, Unrest Founder, said: “We first started in London in 2021 to support and accelerate start-ups changing the world. We champion diversity of thought, background, and geography to support more businesses that reflect the makeup of our communities. And this is why we have chosen to expand to build our next impact accelerator programmes within South Yorkshire.
“Businesses that have a positive impact on the world, now hold the influence, power and potential to accelerate change and leave the planet better than they found it and make a meaningful difference.
“Consumer demand for impact-driven brands is growing at a record-breaking pace with investment in these companies increasing six-fold from 2011 to 2019 — reaching over £5bn a year by the end of the decade.
“Venture capital investors are avidly looking for purposeful brands with high growth potential — but none of the existing players are moving into the impact and consumer territory with a clear brand message — resulting in a shortage of investable start-ups in this space.”
In 2021, over 68% of all UK investment went solely to companies based in London, with the next largest investment region (the South East), receiving only 10%. This investment imbalance hinders start-up diversity and distribution of wealth within the UK. In contrast, less than 1% of all UK investment went to Yorkshire, despite amazing businesses growing out of the region.
Orr added: “Not only does the Unrest programme aim to target and improve this imbalance in opportunity – there’s a genuine flurry of purpose driven start-ups coming from Yorkshire and the North. Data shows that 20% of impact companies are started in Yorkshire.”
Cllr Robert Frost, Cabinet Spokesperson for Regeneration and Culture at Barnsley Council, said: “This is a brilliant programme for our region and for the TeamSY project, and we hope to see a number of Barnsley businesses benefit from this. The accelerator is great for supporting businesses already creating a positive impact and opening them up to better investment potential.”
Laura Bennett, Regional Lead, Capital Enterprise (UK) Limited, added: “Yorkshire is proudly supportive of social impact initiatives and mission-driven projects, and we have a long tradition of social enterprises founded here, working to support our communities and reduce inequalities.
“We are thrilled that Unrest are bringing their expertise, experience, and networks to the region to supercharge 30 mission-driven businesses to think big and act globally – taking South Yorkshire ingenuity and passion for social good to a national and international audience.”
Unrest will run the South Yorkshire Programme in tandem with its London programme, with crossover events. At the end of the programme, startups from South Yorkshire will be invited to London to pitch alongside their London cohort counterparts at an investor-filled Demo Day.
The last Unrest demo day saw over 100 investors on the guest list including Big Society Capital, Balderton Capital, Beringea, Saatchi Invest, Qventures and Mission Ventures.
Mr Vinegold added: “This programme focuses on exponentially growing the right businesses that deserve to make a difference. We’re dedicated to building the next generation of mission-driven companies, turning businesses into a force for good. We can’t wait to help accelerate the next cohort of start-ups from South Yorkshire that are looking to change the world.”
Further details: www.unrest.world
VINCI Building wins £70m Sheffield Forgemasters contract
VINCI Building has been appointed on an early works contract and pre-construction services agreement at Sheffield Forgemasters, worth more than £70 million.
The company will construct a new service road, undertake demolition works and services diversions at Sheffield Forgemasters’ Brightside Lane site to accommodate a new forging line.
The appointment marks the first phase of the wider investment, valued up to £400 million over ten years, to underpin critical defence assets at the engineering company’s Brightside Lane site, with construction of the UK’s largest open-die forging operation to install a 13,000 tonne forge-line.
Chris Winspear, regional director at VINCI Building, said: “We are delighted to have been awarded the contract to kick off the first phase of a significant investment into the company and to the wider benefit of the Sheffield City Region.
“Initially, VINCI Building will handle construction of a new access road onto Sheffield Forgemasters’ site, including all necessary service diversions and partial demolition of existing buildings.
“We will also undertake intrusive survey works and provide support with scheduling and risk management, engagement of supply chain and development of costs for the main construction works.”
The contract, covering the forging line installation, is set to run until 2025, when the new forge is commissioned and Sheffield Forgemasters’ existing 10,000 tonne press will be decommissioned.
Gareth Barker, chief operating officer at Sheffield Forgemasters, said: “This contract is a key milestone in our recapitalisation project, which will see up to £400 million invested across the site to first establish a new heavy forging-line and to then install 16 new machining centres to increase our capabilities as a world-leading engineering facility.
“Vinci Building will input into the current phase of the RIBA 3 design works which should promote buildability and development of the subsequent main-works contract to install a new, circa 140,000 sq ft building, to house the new forge-line.
“Further to this, we are looking to invest locally through our contracting partners as we launch the first phase of construction works.”
VINCI Building UK joins Turner & Townsend (Cost Management Services/Independent Quantity Surveyor and Principal Designer), Tetra Tech (Engineering Services Provider/Lead Designer) and JLL (Planning Consultant) on Sheffield Forgemasters’ recapitalisation project.
Sheffield Forgemasters recently announced that its new 13,000 tonne Mitsubishi press has been shipped from Japan and is now in secure storage prior to installation.
Sweet success as Candy Hero secures £500,000 investment
Bradford-based importer, distributor and retailer of foreign confectionary Candy Hero has received a further investment of £500,000 from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
Founded in 2008 by brothers Frank and Leo Dillion, both former web designers, the West Yorkshire business has quickly grown in size and now stocks one of Europe’s largest ranges of mainstream American candy. It also sells British retro sweets, energy candy, Jelly Belly, Japanese snacks, gifts, and other novelty and specialist items, boasting a range of over 20,000 products.
NPIF first invested £250,000 in Candy Hero in 2020 when it was generating £5.7million in turnover. Since then, Candy Hero’s turnover has almost trebled to £15.7million in December 2021. A revenue increase of £3million is anticipated this year.
Candy Hero has moved to a 20,000 sq ft premises, which accommodates a larger stock selection in response to the growing demand from its business customers. In addition, this funding will support the business to create seven new roles and further capitalise on its position as one of the UK’s top three importers of foreign confectionary.
David Wright, investment manager at Mercia, said: “I’ve known Frank for four years, having worked with him so closely during that time. Naturally, I am very enthusiastic about their continued growth especially as this is a family-owned regional business. The co-founders, who are brothers, make a strong team who are committed to the continued investment into the business and its people. I look forward to seeing where this great regional business goes next.”
Frank Dillon, co-founder of Candy Hero, said: “We’ve experienced phenomenal growth over the past two years as our turnover almost trebled to £15million. The initial loan from NPIF – Mercia was the catalyst for this journey. I was delighted when NPIF and Mercia’s David Wright were able to support my request for an additional £500,000 of funding. This further investment has made a huge difference to the company and is supporting us as we drive the business forward, scale our operations and hire staff.”
Significant rebrand for leading Sheffield City Region law firm
Leading Sheffield City Region law firm, Taylor Emmet, has undergone a significant rebrand following a period of investment across the business.
The rebrand has seen the firm take the bold step to alter its name for the first time in its 150-year history. By removing the ampersand from the previous name, Taylor&Emmet, the firm aligns itself with its digital profile whilst modernising and future-proofing its identity.
The rebrand also sees the launch of an all-new website which will offer a modern experience, helping contribute to the firm’s promise to provide a first-class client service from the first interaction to the completion of a matter.
Steve Hinshelwood, Chief Executive Officer at Taylor Emmet said: “Previously if you were to ask clients about Taylor&Emmet you would get varied answers, from how they said our name, through to how we positioned ourselves in the market. With the Taylor Emmet brand we draw all that together in a simple, recognisable brand that shows our forward-thinking outlook.
“The removal of the ‘&’ is a seamless shift, giving us a single recognisable name and removing issues with digital platforms that many businesses will have experienced.
“Our new brand not only positions us as an approachable, efficient and forward-thinking firm but embraces our history and longevity within the Sheffield City Region.
“We have invested heavily in the business in the past couple of years, from IT infrastructure to training, benefits, and new modern office buildings. The rebrand brings all these elements together and provides a strong platform for Taylor Emmet to launch itself forward as we look to write the next chapter in our history.”
Taylor Emmet used Yorkshire-based On Fire agency to support the re-brand. Karl Lakin, Director at On Fire said: “Retaining elements from the colour palette was important to us, to maintain that all-important visual association with the brand equity.
“As the brand has always been about people, we have reinforced that with a human reportage photography that conveys real people working together with each other and the clients. But for us, dropping the ampersand was key; taking Taylor Emmet into a new modern era, whilst allowing us to convey many of the brand’s values and service level messages in a simple, memorable way.”
Proposed new rules will repeal hundreds of pieces of EU legislation and unlock UK investment, says Government
Legislation to enhance the competitiveness of the UK financial services sector and unlock tens of billions of pounds of investment across the UK economy has been introduced to Parliament today.
The Financial Services and Markets Bill repeals hundreds of pieces of EU retained law to deliver a comprehensive model of regulation for the UK – establishing a coherent, agile and internationally respected approach to financial services regulation that works in the interests of British people and businesses.
The Bill will implement the government’s vision for the sector that is open, green, technologically advanced and globally competitive – while maintaining high levels of consumer protection.
Chancellor of the Exchequer Nadhim Zahawi said: “Through the introduction of this Bill, we are repealing hundreds of pieces of burdensome EU regulations and seizing on the benefits of Brexit to ensure the financial sector works in the interests of British people and businesses.”
The Bill implements the outcomes of the Future Regulatory Framework Review, giving the financial regulators greater responsibility for setting the requirements for UK financial services, and for the first time, a new secondary objective to promote the growth and competitiveness of the UK economy including the financial services sector. This will complement the regulators’ existing objectives of ensuring the safety and soundness of firms, protecting and enhancing the integrity of the UK financial system, promoting competition in the interests of consumers, and ensuring that consumers receive an appropriate degree of protection.
The Bill also includes enhanced mechanisms for engagement with stakeholders and accountability, scrutiny and oversight of the regulators by Parliament and the Treasury. This includes a new ‘rule review’ power which will enable the government to direct the regulators to review their rules where it is in the public interest.
Grants could be a shot in the arm for construction companies
Councils across England could soon receive grants to help transform underused and derelict sites.
Under plans announced by the Government grants would refund the costs of Landfill Tax where it acts as a barrier to redeveloping brownfield and contaminated land.
A four-week Call for Evidence will seek views on the need for, and design of, a scheme to support councils overcome the Landfill Tax burden.
The move – which could happen as early as this Autumn – would help build get businesses building more homes and businesses on brownfield sites, protecting the environment and public health.
Environment Minister Lord Benyon said: “This grant will help councils build new homes and businesses on derelict eyesore sites – delivering more homes, and regenerating towns and cities. Landfill tax has done a fantastic job in preventing unnecessary waste – but it’s important it doesn’t act as a barrier to regeneration.”
Exchequer Secretary to the Treasury Alan Mak said: “Ensuring that communities across England have the tools to transform their local areas is central to our levelling up mission. This bold new scheme could remove unintended barriers for local authorities who want the best for their communities, whilst protecting our natural environment from contamination.’
Landfill tax was introduced in 1996 to encourage a shift away from sending waste to landfill and towards recycling, reuse and recovery. It is currently valued at £98.60 per tonne with a lower rate of £3.15 for the least polluting material.
Landfill tax is widely regarded as being successful, with local authority waste sent to landfill in England falling by 90% since 2000. However, in some cases where remediating contaminated land is not possible without sending waste to landfill, the tax can act as a significant barrier to redevelopment.
By targeting grants in instances where Landfill Tax would otherwise have prevented remediation on commercial terms, any scheme would seek to be cost-neutral.
The Call for Evidence welcomes views on how to ensure a grant scheme would not undermine the waste hierarchy or incentivise illegal dumping. Under plans, applicants would need to demonstrate that use of landfill is reasonably necessary, and steps have been taken to minimise the quantity of waste that will be landfilled.
Funding secured to begin development of new retirement village in Lincoln
Short-term finance specialist PMJ Capital has provided £3.2m funding to senior living specialist, Arbor Living, to fund the next phase of a retirement village, located just outside Lincoln.
The scheme, The View, is a contemporary development of detached eco bungalows for the over 55’s, set in parkland overlooking a lake, just a short walk from Burton Waters Marina, just three miles from the city of Lincoln.
The initial scheme consists of 13, 2-bedroomed bungalows and PMJ has provided funding via an 18-month peak cashflow facility of £1.75m.
Graham Richardson, Managing Director at Arbor, said: “The View is located in a highly enviable location which we know will appeal to buyers, but the eco-design is also incredibly forward thinking and an attractive proposition, providing buyers with a unique opportunity to downsize to a highly efficient, single-storey home.
“PMJ are an incredibly supportive partner. They understand what we are trying to achieve and ensure that they structure a deal that fully meets our requirements and enables success.”
David Rainford, Managing Director of PMJ Capital, added: “This is a fantastic project and we are delighted to be able to work with Arbor once again. Graham and the team have created a well-thought-out and attractive project in an enviable location catering to the over 55 market. Whilst only recently out of the ground initial buyer response is strong which is really pleasing to see.”
Construction has begun, with the first phase due for completion in Autumn this year.
Harrogate-based energy specialists acquired by sustainability experts
Anthesis, the group of sustainability experts, has acquired Harrogate-based energy specialists, Padd Energy.
This deal marks the third M&A announcement for Anthesis in six months following the acquisition of Canadian agri-food sustainability consultancy Provision Coalition Inc, and Climate Neutral Group, a Net Zero authority based in the Netherlands, Belgium, and South Africa.
Established in 2013, Padd Energy is a specialist energy engineering consultancy passionate about creating power and energy from renewable and sustainable sources whilst reducing emissions from fossil fuels.
Dedicated to supporting high carbon emitters and solving complex issues, Padd Energy works with some of the world’s largest corporations to identify, agree and meet net-zero commitments, such as Arla, Reckitt and Nestlé.
Specialising in Waste-to-Energy and Biofuels to Renewables and Heat Networks, Padd Energy has delivered projects, from strategy to implementation, for clients across all major sectors and in locations including Europe, Asia and South America.
The 12-strong firm of impact-led engineers is led by Managing Director Chris Paddey, a former EMEA managing partner and Board director of ERM.
Padd Energy’s decade of energy sector expertise will complement and bolster Anthesis’ established Energy Systems team, working together to help tackle the global energy crisis and transition clients and partners on their net-zero journey by reducing carbon emissions and providing greater importance on energy security.
This announcement is another significant milestone in Anthesis’ growth strategy following its investment from Palatine last year and marks Anthesis’ 16th merger and acquisition deal since establishing in 2013.
Brad Blundell, Managing Director of Anthesis Europe, Middle East, Latin America and Africa, said: “We’re very pleased to welcome the Padd Energy team to Anthesis. Since the beginning of 2022, the global energy crisis set a new level of priority for low-cost, clean energy, compounded by the war in Ukraine, the steep rise in inflation and the climate emergency.
“Our new combined powerhouse of energy expertise, bolstered by the broadest range of sustainability specialisms in the market, provides our clients and partners with the optimal support needed to navigate through these complex and challenging times.”
Chris Paddey, Managing Director, Padd Energy, said: “We are extremely excited to join Anthesis, the largest group of sustainability professionals on the planet. Over the last nine years, I have grown Padd Energy to address some of the most complicated and pressing issues surrounding decarbonisation of complex high energy-use companies along with advising them on self-generation of renewable energy.
“Today, we join a hugely successful firm of sustainability professionals in tackling the same issues with the same passion and commitment as ourselves. We look forward to working together with our new colleagues and clients to offer the full suite of sustainability services from initial concept through to implementation.”
Babble grows presence in Yorkshire with acquisition
Babble, the British Cloud Comms, Contact, Cyber & Mobile business, has acquired Wakefield-based independent technology provider Yorkshire Telecom/Biscuit IT.
Babble has completed 19 transactions since 2018, with 9 in 2020 and 4 already this year.
Yorkshire Telecom and Biscuit IT serve 390 customers across the North of England in a range of sectors. Their expertise matches Babble’s Comms and Cyber offerings and their existing customer base of mid-size, growing companies is also perfectly positioned to benefit from Babble’s more extensive offering.
All staff members will join the Babble team, with Phill Burke, Yorkshire Telecom Managing Director, remaining in a consultancy capacity to ensure a smooth transition.
Phill Burke, Yorkshire Telecom Managing Director, says: “Supporting businesses and their individual communication requirements has always been a priority for us and we can’t wait to take that further with Babble to help our customers achieve their highest potential. We’re very excited to be joining Babble and to be able to offer our customers even more.”
£4.5bn Recovery Loan Scheme extended
A support scheme offering Government-backed loans to small businesses will be extended for a further two years, Business Secretary Kwasi Kwarteng has announced.
The Recovery Loan Scheme, originally launched in April 2021 to help businesses recovering from the COVID-19 pandemic, has supported almost 19,000 businesses with an average of £202,000 in support.
The Recovery Loan Scheme (RLS) is a government scheme aimed at supporting access to finance for UK businesses. It gives lenders a government-backed guarantee against the outstanding balance of the facility.
The extension provides further government support for businesses grappling with cost pressures and adds to measures already announced by the Chancellor, such as increasing the Employment Allowance, slashing fuel duty, and introducing a 50% business rates relief for eligible high street businesses.
Business Secretary, Kwasi Kwarteng, said: “Small businesses are the lifeblood of the British economy, which is why we are determined to support our traders and entrepreneurs in dealing with worldwide inflationary pressures.
“The extension of the Recovery Loan Scheme will help ensure we continue to provide much-needed finance to thousands of small businesses across the country, while stimulating local communities, creating jobs and driving economic growth in the UK.”
Chancellor of the Exchequer, Nadhim Zahawi, said: “Small businesses are the engines of economic growth, supporting jobs and livelihoods in communities right across the UK.
“The Recovery Loan Scheme has supported thousands of businesses over the past year and this extension will ensure they continue to access the finance they need to navigate the months ahead.”
The principle behind the extended Recovery Loan Scheme remains unchanged: government will underwrite 70% of lender liabilities, at the individual borrower level, in return for a lender fee. Lenders must ensure that the benefits of the government guarantee are passed through to businesses.
The maximum loan size remains at up to £2m. However, recognising that businesses and the UK more generally are now in a better position than they were during the pandemic, lenders may now require a personal guarantee from the borrower, in line with standard commercial practice.
Chris Wilford, CBI director of financial services policy, said: “Amidst challenging economic headwinds and continued cost pressures, this remains a difficult time for business.
“With cashflow difficulties at the forefront of the minds of many business owners, continued access to Government-backed loans will bring great comfort.
“This next phase of the Recovery Loan Scheme will provide a critical lifeline for firms. The CBI will also continue to work with Government and lenders on ensuring businesses have access to the finance they need to go for growth.”
Shevaun Haviland, director general of the British Chambers of Commerce, said: “After two years of pandemic disruption and with a faltering global economy, the BCC has been calling for this continued financial support for firms. The two-year extension to the Recovery Loan Scheme will be a lifeline for many businesses facing a rising tide of costs.
“It is now essential that businesses in need of this extra support can access the scheme as quickly as possible to make sure they get help before it’s too late.”
