Hornsea wind farm to get world’s first ‘green’ service vessel

Stuart Pearcey
-
0
Hornsea wind farm to get world’s first ‘green’ service vessel
The Hornsea 2 wind farm is to be serviced by the world’s first service vessel powered by batteries and dual fuel engines running on renewable e-methanol produced from wind energy and biogenic carbon. To be built as part of a new pioneering agreement between Ørsted and ESVAGT, it’s claimed the new vessel will reduce emissions by 4,500 tonnes of CO2 every year. ESVAGT will start building the vessel in the second quarter of this year, and it is expected to be commissioned by the end of 2024. Mark Porter, Head of Offshore Operations at Ørsted, says: “As the world leader in offshore wind, it’s natural for Ørsted to take the lead in driving out fossil fuels from the industry. We’ve set clear targets and a clear direction towards net-zero emissions, and this new methanol-powered SOV is a tangible proof of our clear commitment to realise these targets. The agreement with ESVAGT checks many boxes for us, as it both helps decarbonise our offshore operations while also demonstrating our strong belief that green fuels based on renewable energy is the most viable solution to create a green maritime sector.” Søren Karas, Chief Strategy and Commercial Officer at ESVAGT, says: “This is an important milestone with real meaningful impact on the green transition. Ørsted and ESVAGT share an ambition for a sustainable future, and as an industry leader we’re committed to taking the lead in decarbonising the maritime industry. We’re delighted and proud to be able to take this bold step together with Ørsted towards making offshore wind marine solutions fossil free with an innovative new solution.” a market leader in service and support for offshore wind, have decided to invest in the world’s first service operation vessel (SOV) that can operate on green fuels. The SOV will be powered by batteries and dual fuel engines, capable of sailing on  which will lead to a yearly emission reduction of approx. 4,500 tonnes of CO2. The maritime sector urgently needs new green fuels, which today come at a higher cost than the fossil-based alternatives. By ordering the new SOV, Ørsted and ESVAGT are showing their commitment to a green maritime sector and helping create the needed demand to accelerate to cost reductions of green fuels for the maritime industry. The investment decision also sends a clear signal that the future for both service and installation vessels is green. For the new SOV, Ørsted intends to supply the e-methanol. An offshore wind farm already has 99 % lower emissions than a coal fired power station, seen over the entire lifetime of the asset, including production, construction, and installation. Today’s announcement between ESVAGT and Ørsted will be a step on the way towards mitigating the remaining emissions. Furthermore, the decision to invest in the new green fuel SOV supports Ørsted’s target of becoming carbon-neutral in its energy generation and own operations by 2025 and is a tangible example of the company’s decarbonisation journey towards its science-based target of reaching net-zero emissions across the full value chain by 2040. Ørsted is the first energy company in the world with a science-based net-zero target, validated by Science Based Targets initiative.   Ørsted has implemented a systematic approach for reducing emissions from its offshore logistics through efficiency initiatives, including route optimisations and sailing at fuel-saving speeds. Ørsted has also implemented light hybrid crew transfer vessels for increased fuel efficiency. Over the past two years, Ørsted has built up a diverse portfolio of green fuel projects, three of which focus on producing e-methanol for maritime transport. The portfolio includes a newly announced project on the US Gulf Coast, which will supply 300,000 tonnes of e-methanol for A.P. Moller – Maersk’s fleet of zero-emissions vessels, as well as the projects ‘Green Fuels for Denmark’ and FlagshipONE in Sweden. Both projects can supply around 50,000 tonnes of e-methanol for shipping in 2024-2025. Fact box: The floating home of offshore wind Servicing an offshore wind farm takes a great deal of effort and is handled by a highly specialised team of service technicians that are often offshore for weeks at a time. During their stay offshore, the technicians live on a Service Operation Vessel (SOV), which also hosts an on-board workshop and much of the equipment and spare parts needed to service an offshore wind farm. The new state-of-the-art ESVAGT SOV incorporates the newest technologies. and the ESVAGT crew is highly trained and enabled by digital tools. The SOV is designed for comfort and high workability, providing a highly efficient workspace and safe transfer of technicians at the windfarm via a motion-compensated gangway and transfer boats as well as a crane to lift heavy spare parts. As a floating home, it also offers recreational activities for the on-board crew and technicians, including fitness facilities, a game room, a cinema, and individual accommodation.  The SOV is also equipped with a helipad for fast access and transfers from shore.

Retail sales slow as confidence wanes

Steve Fisher
-
0
Retail sales slow as confidence wanes

The retail sector has been through a great deal of late and the pandemic has meant much of retail bounced between being open and closed, significantly impacting sales and changing consumer behaviours.

In March 2020, non-essential retail stores began to close, pushing many consumers to buy goods online. In this context, while all comparisons are provided on a year-on-year (YoY) basis, those focused on online/in-store have also been compared with March 2019 (Yo3Y). This will be clearly signposted below.

Sales figures are not adjusted for inflation. Given that both the March SPI (BRC) and February CPI (ONS) show inflation running at historically high levels, a portion of the sales growth will be a reflection of rising prices rather than increased volumes.

Covering the five weeks 27 February – 2 April 2022

  • On a Total basis, sales increased by 3.1% in March, against an increase of 13.9% in March 2021. This is worse than the 3-month average growth of 6.9% and the 12-month average growth of 10.3%.
    • On a three-year basis, Total retail sales grew 5.4% (Yo3Y) during March compared with the same month in 2019.
  • UK retail sales decreased 0.4% on a Like-for-like basis from March 2021, when they had increased 20.3%. This was worse than the 3-month average growth of 3.2% and the 12-month average growth of 6.5%.
  • Over the three months to March, Food sales decreased 2.6% on a Total basis and decreased 3.1% on a Like-for-like basis. This is below than the 12-month Total average growth of 0.8%. For the single month of March, Food was in decline year-on-year.
  • Over the three-months to March, Non-Food retail sales increased by 14.9% on a Total basis and by 8.6% on a Like-for-like basis. This is worse than the 12-month Total average growth of 18.3%. For the single month of March, Non-Food was in growth year-on-year.
  • Over the three months to March, In-Store sales of Non-Food items grew 92.9% on a Total basis and 74.9% on a Like-for-like basis. This was an improvement on the Total 12-month average growth of 69.9%.
    • On a three-year comparison, over the three months to March, In-Store sales of Non-Food items declined 18.2% (Yo3Y) on a Total basis and 3.9% (Yo3Y) on a Like-for-like basis since March 2019.
  • Online Non-Food sales decreased by 29.0% during March, compared with growth of 64.7% in March 2021. This is worse than the 3-month decline of 27.3%.
    • On a three-year comparison, Online Non-Food sales increased by 38.9% (Yo3Y) in March. This is broadly in line with the 3-mth average increase of 38.8%.
  • Non-Food Online penetration rate decreased to 38.5% in March from 63.0% in March 2021. However, it was up 9.2 percentage points on the 29.3% seen at the same point in 2019.

Helen Dickinson OBE, Chief Executive | British Retail Consortium says:“As consumer confidence continued to sink, March saw sales slow, and while spend remained above last year this likely reflects higher prices. Beauty and fashion items were popular last month, as consumers took to their town and city centres for some retail therapy in the run up to Mother’s Day. While it is promising to see experiential shopping back in fashion, much in-store retail has not recovered to its pre-pandemic level. Online sales also decreased compared to last year but remain well above 2019 levels due to investment by retailers in their digital offer.

“The rising cost-of-living and the ongoing war in Ukraine has shaken consumer confidence, with expectations of people’s personal finances over the next 12 months reaching depths not seen since the 2008 financial crisis. Furthermore, households are yet to feel the full impact of the recent rise in energy prices and national insurance changes. There is also potential for further supply chain disruption, with China putting key manufacturing and port cities into lockdown. Ultimately, consumers face an enormous challenge this year, and this is likely to be reflected in retail spend in the future.”

Don Williams, Retail Partner, KPMG adds:“Growth on the high street continued last month with total sales up 3.1% compared to March 2021, driven by a strong performance across most non-food categories. However, the drag came from food sales which were down 6.1%, potentially due to the timing of Easter in 2021 and compounded  by the impact of the lockdown in March last year.

“Online sales fell across all categories compared to March 2021, but penetration rates remain high confirming the “locked in step up” in online purchasing.  This continues to force retailers to focus on finding the most effective mix between physical and online retailing.

“Sales growth in March rose at the slowest rate so far this year, suggesting clouds on the horizon as household budgets come under pressure from rising costs, an increasing tax burden and competition from holidays. There is concern on what this could mean for consumer confidence and the impact on discretionary spend.   Additionally, retailers are facing their own battle with rising costs and inflation, and are walking a tightrope between absorbing rising costs themselves or passing these on to consumers, when competition for share of a shrinking wallet is increasingly fierce. The best retailers will continue to balance attention on areas that can yield cost and efficiency gains with a clear understanding of their customer and what they want to buy and how.  The primary concern now is whether consumers will choose to reduce their physical and virtual shopping to counteract rising household bills and reduced household income.”

Food & Drink sector performance | Susan Barratt, CEO | IGD

“Food and drink sales struggled in March, partly due to facing strong comparatives to 2021. Not only were sales elevated last year due to lockdown, but Easter was also earlier and we’re yet to see holiday spending ramp up this year.

“It is no surprise that shopper confidence continues to fall and is now lower than the previous low of December 2013 when the horsemeat scandal impacted the food industry. There was a brief peak in confidence when it looked like oil prices might come down, but with 50% of shoppers now expecting food prices to become much more expensive, this optimism was short-lived. These challenges affect shoppers in different ways, with household cutbacks seeing less affluent shoppers skipping meals to save money. This volatile time is set to continue as the reality of the energy price increase, as well as general inflation, hits home for shoppers.”

 

Wastewise appoints new Operations Director

Michael Fisher
-
0
Wastewise appoints new Operations Director
Michael Wheatley has been announced as Wastewise’s new Operations Director, following Bob Wilkes recent promotion to Managing Director. Michael originally joined waste management specialist Wastewise in May 2020 when he took on the role of Senior Operations & Compliance Manager. A major part of this role was ensuring compliance with health, safety and environmental legislation across the three Wastewise operating sites. Prior to this Michael has a long history in managerial operations roles with large UK companies, managing and developing multiple site locations, working to implement progressive safety improvement objectives whilst leading on contract negotiations. In his new role, he will be responsible for the safe, efficient and profitable running of the sites across the Wastewise group, focusing on closer coordination in the sharing of capacity, facilities, staff and product distribution to maximise output. He will also be championing a more unified company staffing approach and extensive in-house training programmes to support safer working practice. “I am delighted to take on this new role, “states Michael, “with plans to consolidate the already high standards set in Safety, Environmental, and Quality output that I’ve worked on since 2020.  I have an ongoing programme of plant and capital investment that I am committed to and will support the board in its ambitious 5-year development strategy.” Commenting on the appointment, Bob Wilkes Managing Director Wastewise said, “Michael is a hands-on manager that leads by example, engaging fully with employees at all levels to ensure that they are onboard with the objectives and direction of the business.  He is a perfect fit for the task at hand.” Following a successful period of growth, Wastewise continues to seek opportunities to develop new partnerships and broaden its waste-processing infrastructure, which includes food and green waste composting, materials recycling, biomass and alternative fuel production facilities.  

Raft of four awards for Yorkshire rum AB Gold

Michael Fisher
-
0
Raft of four awards for Yorkshire rum AB Gold
Yorkshire-based entrepreneurs Alex Bray and David Armstrong, are celebrating after the rum they created picked up a slew of four top industry awards. AB Gold Rum, which combines Jamaican rum from the Caribbean with Yorkshire spring water and is bottled in Yorkshire, has just been awarded Bronze in the World Rum Awards. It was also awarded a Bronze Medal out of thousands of entries in the International Wine & Spirit Competition, one of the most coveted and competitive awards in the spirit industry. AB Gold also achieved a Gold in the Rum Masters category of The Spirit Business Awards, beating 30 other rums in the category as well as being the only rum to be awarded Gold. In addition, it has been named best Rum on the Rocks UK at the People’s Choice Award. Alex, who lives in Holmfirth where the business is based, has worked in the rail sector with Dave for a number of years and the pair became firm friends during the first lockdown, sharing their love of rum over a weekly video call. “We are so proud that AB Gold Rum has been recognised as one of the best golden rums in the world, winning four top industry awards despite being a relative newcomer. Inspired by lockdown, we wanted to create a rum that made getting together with friends for a drink that little bit more special, a rum that is different from the rest – AB Gold is crisp, clean and smooth with a complex flavour. And these awards prove that we’ve achieved our aim and more. “As rum connoisseurs ourselves, we combined our expert knowledge and our experience of travelling to the finest rum producing regions of the Caribbean over the last 20 years to create AB Gold. The public have loved our rum and for industry judges to give us this recognition is the icing on the cake.” First launched in December 2020, AB Gold, which is 100% natural with no additives, flavouring or colouring, was a hit at the summer festivals, with Alex and David ordering more batches to meet demand. It is one of the youngest rum brands taken on by the nationwide distributor Hammonds of Knutsford and is now stocked at over 100 locations across the UK including bars, restaurants, farm shops and independent off licences. “We were selling out at festivals and knew we were onto something special. We’ve spent time and effort ensuring that every aspect of our offering is right – from the quality of the product itself which is aged up to seven years, to the distinctive packaging which reflects the heritage of the rum,” adds co-founder David. “We had such an amazing reaction from the public that entering the awards was the natural next step. For us to put our new brand up there, alongside long-established rum producers, shows how serious we are about building an international reputation. And for independent spirit experts across the world to recognise us with these awards gives us an amazing platform from which to grow.” AB Gold is blended from only the finest traditional pot-stilled, triple oak barrel-aged Jamaican rums, made from virgin Caribbean sugar cane. Tasting notes from the judges included: “Hints of banana and sweet spice. Jamaican fruit on palate, good balance.” “Rounded banana/vanilla/toffee nose. Balanced palate with ripe and unripe fruit, and a touch of minerality. Darker brown banana notes develop, along with some sweet fruit.”

Economic rebound slows, says BCC Head of Economics

Stuart Pearcey
-
0
Economic rebound slows, says BCC Head of Economics
The UK economy grew more slowly in February, an indicator that the rebound was losing steam even before the impact of Russia’s invasion of Ukraine, says Suren Thiru, Head of Economics at the British Chambers of Commerce.  He said: “Tourism-related industries and accommodation services recorded the strongest improvements in the month as the end of Plan B restrictions, and reduced concerns over Omicron, supported activity. However, this was mostly offset by a significant drop in NHS Test and Trace services and vaccine activity as well as declines in industrial and construction output.     “February’s slowdown is likely to be the start of a prolonged period of considerably weaker growth as rising inflation, surging energy bills and higher taxes increasingly damages key drivers of UK output, including consumer spending and business investment.   “Weakening health sector output following the end of free Covid testing and mass vaccinations, is also set to weigh on UK GDP in the near term.   “The Government must provide urgent financial support, through the expansion of the energy bills rebate scheme, to include small firms and energy intensive businesses, and an SME energy price cap to protect smaller firms from some of the price increases.”  UK trade data from the ONS remained volatile in February 2022 as changes in data collection methods unwind. The figures for February 2022 reported a 25% increase in exports (following a 22% decline the previous month). Comparing the last 3 months data together with that over the same period 4 years ago reveals that exports in goods were £1bn lower (1.2%). It is hard to discern therefore any sustained increase in UK exports of the levels currently occurring in our largest neighbouring trading partners.  Furthermore, the ONS Business Insights and Conditions Survey reveals increasing challenges faced by firms with export and import paperwork respectively. 68% of exporters and 70% of importers reported these challenges in February to March 2022 a rise of 7% and 9% respectively. This echoes BCC data which finds a similar worsening trend.

DIGI-RAIL Project comes to South Yorkshire

Steve Fisher
-
0
DIGI-RAIL Project comes to South Yorkshire
Technical and non-technical business support is now available for eligible SMEs in the South Yorkshire Mayoral Combined Authority to help them enter or grow their business in the rail industry, with a focus on the Digital Railway. This scheme is part of the DIGI-RAIL project, based at the University of Birmingham, within the Birmingham Centre for Railway Research and Education (BCRRE). The DIGI-RAIL team offer support in a variety of areas of expertise, working with their  industry partner Unipart Rail who also have a wealth of experience working with SMEs. There are several support packages available all fully funded for eligible SMEs. Your DIGI-RAIL journey starts with one of the Business Engagement Managers (BEMs) discussing with you, your business goals and ambitions and how they can help you to enter or grow your business in the digital rail sector. You will then be referred to the relevant content and workshops, which will give you a clear understanding of where your business can fit into the future digital railway and how your product/service development can continue into a collaborative development project. All DIGI-RAIL clients will receive a minimum of 12 hours of free technical and non-technical support. Should you wish to continue into a product/service development project, this will be agreed together working towards an agreed project outcome. This could be development of a prototype, testing an idea with rail users, or carrying out some desk-based research for you to make better-informed decisions, to name but a few opportunities. DIGI-RAIL supports a broad range of Digital Systems areas including:
  • Future Railway Operations and Control
  • Traffic Management
  • Rolling Stock Design
  • Energy Optimisation
  • Railway Traction
  • BIM and Industry 4.0
  • Smart Ticketing
  • Future Wireless Networks
  • Station Information Systems
  • Smart Stations
  • IoT and Cyber Security.
Any independent company with fewer than 250 employees and a turnover of less than 50 million euros within the South Yorkshire Mayoral Combined Authority are eligible for support. So if you are looking to introduce your digital product or service into Rail or would like some business and/or technical support to make further digital business development gains in Rail then get in touch by completing the enquiry form here.

Energy strategy doesn’t ease the squeeze on food production, says NFU

Stuart Pearcey
-
0
Energy strategy doesn’t ease the squeeze on food production, says NFU
The Government’s new energy strategy has done little to ease the squeeze on UK agriculture and food security, according to the NFU. Deputy President Tom Bradshaw said: “This strategy was a chance to align long-term net zero policy with immediate solutions to the energy crisis, but it does little to alleviate the pressures spiralling energy costs are placing on UK food production now, nor on the many businesses and households facing eye-watering gas and electricity prices. “This is a time when we need to be producing more to bolster UK food security, yet energy costs and availability issues have caused areas of UK food production to contract and fertiliser prices to rocket, with prices now 250% higher than this time last year. “In order to give farmers the confidence to continue to produce food at scale, we need to see policies which reflect the importance of gas and electricity for food production. We also need immediate measures to boost energy efficiency and fast-track renewables like solar and on-shore wind power, which farmers are well placed to help deliver. “It is time our government recognised what the whole UK food supply chain has been saying for months – that food security needs to be a priority so we can continue to produce nutritious, affordable food for the country, especially during times of global unrest.” The NFU had already identified many measures which, if they were included in the strategy, could help UK farmers continue to produce food at scale, including:
  • Boosting energy efficiency with the consistent backing of HM Treasury – including processes, resource efficiency and buildings.
  • Fast-tracking of on-site renewables like solar and onshore wind power – through revised planning guidance and more resources for local planners.
  • Better regulation that enables efficient return of agricultural nutrients to land – through investment in slurry storage, composting and anaerobic digesters.
  • Kick-starting the UK market for green hydrogen from renewables – this could partly replace fossil natural gas in the network.

Construction starts on B&Q warehouse on the A1(M)

Stuart Pearcey
-
0
Construction starts on B&Q warehouse on the A1(M)
Officials met on site today to commemorate the start on site for construction of a 430,000 sq ft warehouse and distribution centre for B&Q at Symmetry Park at Junction 34 of the A1(M). Tritax Symmetry announced last month that it had agreed a deal with B&Q to design and build the new seasonal facility on the strategic site.  The dedicated logistics developer has a long-standing relationship with B&Q, and has been the landlord at B&Q’s national core products distribution centre in Worksop since 2005. Bassetlaw District Council Deputy Leader, Cllr Jo White and Ward Member for Blyth Cllr Jack Bowker met members of the senior team from B&Q, alongside site developer Tritax Symmetry and its parent company Tritax Big Box REIT plc, to view the scale of the  development which will bring new jobs and economic prosperity to the region. GMI Construction is appointed principal contractor for the new facility, which is being built to net zero carbon, in line with Tritax Symmetry’s commitment to deliver all future buildings within its portfolio to this standard. Rosemary Wilkins, Director of Logistics at B&Q said: “We are pleased to see great progress on site for the new B&Q seasonal warehouse and distribution centre at Symmetry Park. The new warehouse will allow us to get more of the most popular products to our stores, more quickly.” Freddie Oakey, Associate Development Director at Tritax Symmetry said: “This event marks another significant milestone in the success of Symmetry Park.  The development is already an established convenience hub for visitors and commuters and is supporting a significant number of jobs through Butternut Box which occupies the adjacent 151,388 sq ft facility.  We look forward to seeing further new jobs created and the added social impact through B&Q. “Having a site with infrastructure already enabled and detailed planning consent in place allows us to provide a premium, bespoke and highly sustainable facility for B&Q to bolster its distribution network in this prime logistics location.” Located on the North Nottinghamshire/South Yorkshire border, Symmetry Park is a major industrial and distribution scheme with detailed planning consent for 721,000 sq ft of logistics space.  The scheme is home to luxury dog food supplier, Butternut Box, which took a 151,388 sq ft facility on a 15-year lease in August 2020. Roadside retail property business Euro-Garages has also expanded its options with the purchase of a 1.2-acre plot standing alongside its existing Starbucks and KFC outlets. With detailed planning consent secured and full site infrastructure works in place, Tritax Symmetry can deliver a further unit of up to 140,000 sq ft in just 36 weeks.

New South Yorkshire mayor must champion growth

Tess Egginton
-
0
New South Yorkshire mayor must champion growth
The incoming South Yorkshire mayor must show vision and ambition to turbocharge the region’s Covid recovery and lay the foundations for sustainable, long-term prosperity, according to the CBI. The business group has launched its South Yorkshire Mayoral Combined Authority Business Manifesto, a blueprint for the region’s future which urges the winner of May 5’s ballot to work with business to champion the area’s unique strengths in driving future growth. Overcoming skills shortages, delivering improvements to physical and digital infrastructure and building new links between business, academia and all levels of government are priorities. Securing new funding and devolved powers is also a key ask – and it all must be achieved against the tough backdrop of Covid recovery and a cost-of-living crisis. Beckie Hart, CBI Yorkshire and the Humber director, said: “This May’s mayoral election comes at a critical time for South Yorkshire. The region faces multiple headwinds, like the increased cost of living and doing business, geopolitical instability and rising inflation, on top of ongoing post-pandemic recovery efforts. We’re at a crossroads, and future generations will judge the path we choose. “South Yorkshire needs to be empowered to maximise its potential. It is a region with a rich cultural, leisure and tourism offer, and many assets of key importance to the UK economy – for example the Advanced Manufacturing Research Centre, which is home to many high value sectors, focusing on power generation and renewable energy vital for research and development. “The next mayor should seek to capitalise on these assets to fuel an economy that plays to distinct local strengths which empower communities, reduce long-standing inequalities, and boost regional prosperity. “Business stands ready to work alongside the mayor to develop this economic vision, and to drive forward ambitions for green, sustainable growth throughout the region.” The CBI’s manifesto includes recommendations in five key areas which outline how the newly-elected mayor can work in tandem with business to deliver economic growth to the region. Skills
  • Support collaboration between business, academia and local government to transform skills supply, improve employment prospects and enable productivity growth.
  • Utilise the recently devolved adult education budget to build a skills system tailored to regional needs and help local people secure good, well paid jobs.
  • Encourage direct links between schools and enterprise to open pathways into work and reduce the ‘brain drain’ of talent from the region to other areas.
Housing
  • Target innovation in construction to deliver affordable, low-carbon, sustainable and high-quality homes at pace, capitalising on the new Levelling Up Brownfield Investment Fund into Sheffield.
  • Drive investment in retrofitting homes to improve energy efficiency and accelerate the region’s move to a net zero future.
Infrastructure
  • Support development of a fully integrated, region-wide public transport system to improve access to education, skills and training.
  • Enhance north-south and east-west connectivity by delivering Northern Powerhouse Rail in full, and HS2, specifically the eastern leg.
  • Improve digital infrastructure to reflect new working patterns, including hybrid.
Devolution
  • Work with central Government and business to secure a long-term devolved funding increase for the region.
  • Gain extra powers from central Government on skills and transport policy to better support business needs.
Climate Change
  • Use devolved powers to incentivise business to go further and faster on net zero.
  • Support the region’s SMEs to transition to a low-carbon economy.
  • Develop a holistic strategy on climate change, incorporating housing, planning, transport, infrastructure and skills.
Together, the CBI believes these actions can address inequalities and equip South Yorkshire with the infrastructure, talent and leadership needed to thrive through post-pandemic recovery and build future economic growth.

NG Bailey acquires the trade and assets of the Kershaw Service and Maintenance business

Tess Egginton
-
0
NG Bailey acquires the trade and assets of the Kershaw Service and Maintenance business
NG Bailey has completed the acquisition of the trade and assets of the Cambridge-based Kershaw Service and Maintenance business, previously part of Kershaw Mechanical Services Ltd, a provider of mechanical, electrical and hard facilities services, that entered administration earlier this month. The acquisition provides an opportunity for Ilkley-based NG Bailey to increase and strengthen its presence in the hard facilities management sector, with a particular focus on mechanical and electrical services. The acquisition will generate over £4m of additional annual turnover and will see more than 25 highly skilled employees, which make up all of the service maintenance team, join the NG Bailey Group. The team will become part of NG Bailey’s Services division and operate within the already established and successful Facilities Services business unit. The Kershaw service and maintenance business has provided hard facilities services across a range of sectors and supported customers with planned, reactive and project services for over 75 years. David Hurcomb, NG Bailey’s Chief Executive, said: “Bringing the Kershaw service and maintenance business into the NG Bailey fold provides a natural extension to our already successful range of services. I am also pleased to be able to welcome all our new colleagues to the NG Bailey Group.” The transaction was led by Jonathan Stockton, NG Bailey Group Chief Financial Officer, with deal support from Ed Barlett legal due diligence from KPMG.
1...907908909...1,007Page 908 of 1,007