SmartSearch announces appointment of new CEO
SmartSearch, the leading anti-money laundering specialist, today announces the appointment of Guy Harrison as CEO. Guy will drive SmartSearch’s strategic plan to build additional growth and will report to the company’s board of directors.
Guy is a seasoned business leader with a proven track record of scaling fast-growth data, analytics and technology businesses. He joins from Dow Jones where he was general manager of Dow Jones Risk & Compliance, a market leading global provider of regulatory compliance and risk management solutions. Whilst there, he headed the global business, delivering three years of highly successful growth. Prior to that he was managing director for Risk, Regulatory and Compliance Solutions at IHS Markit. Before joining IHS Markit, Guy spent eight years at Goldman Sachs and started his career as a management consultant with Deloitte.
He takes over with immediate effect from SmartSearch’s CEO and founder John Dobson, who launched the business in 2011. John will remain an active part of the company as a non-executive director.
SmartSearch achieved record results in 2021, with a 22% increase in business. This was driven by demand for its industry-leading online ID verification and due diligence platform. The company has received many industry awards, including a Queen’s Award for Enterprise for its innovative work, and currently operates in the UK, the US and Europe. It was recently chosen to provide customer verification by Alto, a part of Zoopla, which provides cloud-based software for estate agents.
Guy Harrison, CEO of SmartSearch, said: “SmartSearch has already delivered impressive growth, and I’m very much looking forward to working with the team to lead the business towards even greater success. Fraud and money laundering attempts have risen considerably since the outbreak of the COVID-19 pandemic increasing the need for regulated businesses to have effective AML technology. SmartSearch’s state-of-the-art technology is perfectly positioned to meet this need by accurately identifying and verifying customers in just two seconds.”
John Dobson was one of the founders of credit management giant Callcredit, following which he set up SmartSearch. He said: “There is a clear and growing need for robust electronic verification to help counter money laundering and fraud. The strong growth we have achieved at SmartSearch over the past decade clearly indicates this need as paper documents can no longer be relied upon. It also gives an indication of our huge potential for further expansion.
“I feel a lot of pride in having led a worthy and successful business which will continue to grow and prosper with a very competent, energetic and innovative team remaining. I felt the time had come for my second retirement and I am very happy to handover the leadership to Guy, who I know has the experience and strategic vision to steer the business through the next expansion phase as it continues to become recognized as the default solution for AML verification, both in the UK and globally.”
Richard Law, chairman designate of SmartSearch, commented: “On behalf of the board and the team as SmartSearch I’d like to thank and congratulate John on his skill and dedication to building SmartSearch so effectively and on achieving the financial success the business has seen to date. I’m very pleased that the business has been able to attract Guy to join the business. His track record, experience and skills are a great fit for the ambitious next stage of SmartSearch’s development and growth.”
SmartSearch is based in Ilkley, West Yorkshire, and this year increased its team from 117 to 168 to cope with demand.
The SmartSearch system carries out identity checks using a combination of credit reference data and trusted public sources, which makes it virtually impossible for someone to get away with using a fake identity.
For more information please visit: www.smartsearch.com
Experienced audit manager joins Hentons
An experienced audit manager has been appointed at Yorkshire-based chartered accountancy and business advisory firm, Hentons.
Lee Milligan has over 25 years’ industry experience and will be managing a team of auditing professionals who are based across the firm’s Leeds, London, Sheffield, Thirsk and York offices.
After completing a BA Hons degree in Accountancy and Business Studies, Lee started his career in Stoke-on-Trent before moving to a firm in Manchester. He has recently been working as the audit and accounts manager at Paylings Ltd in Wakefield. Lee is a fellow of the Association of Chartered Certified Accountants (ACCA).
Lee said: “A well-run audit gives management and third parties assurance in the published financial figures and highlights any weaknesses in client systems, errors and potential fraud. It also makes meaningful unbiased recommendations to improve performance in the future. I pride myself on adding value to clients by providing excellent service and ideas that play a vital role in driving businesses forward.
“I wanted to join Hentons, as the firm has an excellent reputation for its audit and accountancy services, as well as offering corporate finance and legal services, and there are plenty of opportunities to build on its impressive client base.”
Plans for 310 apartments in Leeds revealed
Proposals have been revealed for approximately 310 studio, 1, 2 and 3 bed apartments as well as communal, co-working and creative space in Leeds.
Mabgate Yard, on Mabgate in Leeds, will bring a landmark development to a brownfield site within an existing creative environment. The proposals are centred around a communal heart, acting as a focal point for residents to meet, relax and collaborate and the development will also benefit from landscaped outdoor areas and extensive planting.
Located on a key gateway site, close to St James’s University Hospital and the city centre, each of the apartments will be available solely for rent.
The development will be sustainable, and opportunities for on-site energy generation will be explored.
The proposals are being brought forward by HBD, a Yorkshire founded developer.
It is anticipated that a hybrid planning application, seeking permission for the principle of development, will be submitted by February 2022; further ‘reserved matters’ planning applications will be submitted in the second half of 2022 to agree the details of appearance, access, landscaping, layout and scale.
Richard Hinds, development surveyor at HBD, said: “We have developed plans for this site that we are proud of and feel the scheme complements the existing urban community. We’re excited to share the plans with the community and invite their feedback.
“As a hybrid planning application, with elements of the design still to decide, public consultation is vital and we are keen to know the thoughts of local residents and businesses. We will then be able to incorporate these ideas and opinions in our final planning applications.
“Leeds is one of the most exciting places in the UK to live and work and we are committed to bringing forward a scheme for this neighbourhood that we can all be proud of. We respect the unique character and history of Mabgate and believe these designs will sit well alongside existing buildings, but also help the area develop and grow.”
East Yorkshire manufacturer of furniture for kitchens, bedrooms and bathrooms snapped up
Kartell UK Limited, the suppliers of heating and bathroom products to the independent merchant and showroom sector, has completed the acquisition of Summerbridge Holdings Limited and its subsidiary Humber Doors Limited, which trade as Summerbridge.
Headquartered in Anlaby, East Yorkshire, Summerbridge is one of the UK’s leading manufacturers of kitchen and bathroom cabinets and doors to manufacturers, contractors, developers and distributors across the leisure, kitchen, bedroom and bathroom (KBB) and commercial and residential development sectors. With predecessor businesses’ history dating back 30 years, Summerbridge today employs more than 120 people, delivering more than £7m in annual sales.
Kartell’s acquisition of Summerbridge represents the next chapter in the history of the prominent Hull business, with the Kartell group securing a supply of high-quality British-made bathroom cabinets for its customers and Summerbridge set to benefit from investment by the group.
As part of the deal, Summerbridge will continue to operate as a standalone business within the Kartell group under the guidance of the existing management team and will benefit from opportunities to work closely with the group’s other businesses, including Just Trays, a shower tray manufacturer, in Leeds and Vogue, a specialist manufacturer of designer towel warmers, in Willenhall and their customers.
Founded in 2008, Kartell supplies radiators, designer towel warmers and bathroom products to the independent and merchant showroom sector in the UK. The group turns over in excess of £125m using brands K-RAD, K-VIT, JT and Vogue, and employs more than 430 people across principal sites in Bedford, Wigan, Willenhall and Leeds.
The group management team will work closely with the Summerbridge team to develop the business in the UK and internationally, with the group expecting significant growth across their core markets.
Kartell was advised by FRP Corporate Finance’s East Midlands team, led by Harry Walker, with legal advice from a team led by Sophie Burke of Fladgate LLP and financial due diligence provided by Price Bailey LLP.
Alex Norford, CEO of Kartell, said: “In common with many in our industry over the last eighteen months we have experienced record levels of demand. We always strive to deliver exactly what our customers require and recognised earlier this year we needed to secure additional bathroom furniture supply to provide the consistent, high quality products our customers expect from us.
“It is with great pleasure we are supporting the future of another fantastic British manufacturer and having identified the benefits Hull’s status as a Freeport can bring to the group, we were keen to be invested in a city which is clearly making giant strides in the UK economy. I am really excited to have the opportunity to welcome everyone at Summerbridge into our group and offer our customers their top quality, British-made cabinetry moving forward.”
Simon Lunt, director of Summerbridge Holdings, said: “When we received the approach from Kartell’s advisors we immediately saw the potential for the two businesses to join forces. We acquired Summerbridge in 2018 and have worked alongside the wonderful team at the business to put it back on the path to growth and to realise its undoubted potential. It is with great pleasure that I and my fellow directors hand over the reins to Alex and the team at Kartell to take Summerbridge forwards.”
The shareholders of Summerbridge received legal advice from a team from Gosschalks LLP, led by Nigel Beckwith.
Shawbrook Bank provided Kartell with increased facilities to finance the acquisition of Summerbridge and were advised by a team from Shoosmiths LLP, led by John Bew.
Double promotions at Sheffield-based Race Cottam Associates
Healthcare architectural practice, Race Cottam Associates (RCA), has promoted two team members following a farewell to the firm’s longstanding health sector lead.
After an 18-year career at RCA spanning the delivery of more than 60 healthcare schemes, Tim Robinson retires. Paul Foster, associate director becomes RCA’s new health sector lead and will oversee the healthcare team, including the newly promoted architect, Jacob Peplow.
RCA’s Managing Director, David Speddings, said: “There has obviously been an extensive handover process in the healthcare team since Tim announced his retirement, part of which involved the restructuring of roles for Paul and Jacob.
“RCA enjoys a strong reputation in the healthcare sector, and we’re under no illusion that Tim’s expertise has been invaluable in creating this; he’s delivered outstanding facilities in East & South Yorkshire, the East Midlands and North West. It’s now time for the next generation to build on this success and we’re confident that with Paul and Jacob at the forefront, we will continue designing exceptional and essential healthcare provisions for many years to come.”
With almost two decades combined experience at RCA, Paul and Jacob are well-known to the practice’s client base, which includes ten NHS Trusts. Paul is a skilled designer, who is equally confident devising refurbishments, retrofits and re-configurations as well as new build projects. Jacob shares this passion for delivering futureproof and energy efficient buildings as BREEAM lead.
Paul said: “Healthcare services are always vital, but now more than ever. We’re keen to continue growing our work in this sector; transforming sites that are unfit for purpose, upgrading existing facilities with state-of-the-art treatment and patient services, and designing high quality, sustainable buildings that will serve new communities. I’m excited to take this next step in my career and build this team of talented architects.”
RCA’s current health sector schemes include the £10.5m health hub in Bakewell, Derbyshire; £8m health centre in Belper, Derbyshire; £2m medical centre at the new Olive Lane development in Rotherham; and £12m new main entrance and paediatrics reconfiguration at Hull Royal Infirmary.
Northern PE market records highest value year in a decade, driven by ‘mega-deals’
Deal making across the North of England has soared throughout 2021, with private equity houses completing almost 60 deals worth £19.1bn in the last 12 months.
Data from CMBOR, the Centre for Private Equity and MBO Research and funded by Equistone Partners Europe as an exclusive sponsor, reveals that the total value of deals in the North this year is the highest in the decade since the research began. Year-on-year, 2021 deal values accounts for five times more than the £3.7bn recorded in 2020 and is more than ten times higher than the £1.5bn in 2019.
According to CMBOR’s first full-year data announcement since its re-establishment within Nottingham University Business School, deal volume is also on the up in Northern regions, with the highest number of deals completed since 2014.
PE houses completed 23 deals in Yorkshire and the Humber during the year, accumulating the highest value of deals across the UK in 2021 with a total of £14.98bn, ahead of London (£10.83bn). The region was fourth on the list of deal volume with 23 completions, following London (64), South East (40) and North West (31).
The retail sector skyrocketed to £14bn, almost a third of total UK value for the year in 2021, driven by two Yorkshire & Humber transactions; TDR Capital’s £6.8bn carve-out of Leeds-headquartered supermarket ASDA in February 2021 and the £7.1bn takeover of Bradford-founded Morrisons in October.
Andi Tomkinson, partner at Equistone Partners Europe, said: “This year has demonstrated just how resilient private equity is across the UK and in the North of England in particular, highlighted by the record year we’ve had in 2021.
“Despite the obvious challenges faced by businesses and investors as a result of the pandemic, the market is stronger than ever. Valuations are on the up and there is a real focus on growth once again; something that we expect to continue well into 2022 and beyond.”
Change of ownership for Bradford’s Expect Distribution
In a move which ensures business continuation, the majority shareholding of Expect Distribution has been sold by Robert and Neil Rushworth who founded the company 34 years ago.
The transport and warehousing provider has been acquired by two established board members, Andy Taylor, Operations Director, and Matthew Kilner, Financial Director, who start 2022 at the helm with Neil Rushworth remaining as the Managing Director in the short term, who will also retaining a minority shareholding of the company.
New joint owners Andy Taylor and Matt Kilner joined Expect Distribution in 2017 and 2020 respectively, and have been instrumental in the growth and profitability of the business which was established in 1988 by the company chairman Robert Rushworth. The business has since expanded from 2 vehicles to a fleet of 140 vehicles and a turnover of £40m in 2021 with 3 warehousing sites in West Yorkshire, capable of storing 70,000 pallets.
Neil Rushworth explained that discussions about a possible MBO only started early in 2021.
“The board held a strategy meeting in Q1 and Andy and Matthew expressed some interest in continuing the Expect success story through an MBO and things developed pretty quickly from there.
“Over many years we have created a highly-respected business and despite having external suitors who were interested in buying Expect we found it difficult to imagine any parties who would understand and run the company with the same ethics and unique formula that we have created over the time that the family has owned it.
“This is a business at the top of its game, and we are widely recognised for high levels of quality service and we are confident that Andy and Matthew will continue to lead Expect in a manner which is familiar to both our employees and our customers.”
Some of the company’s clients include FMCG providers – Boost Drinks, Astonish, national retail chain Card Factory as well as customers in various sectors such as Construction, Pharmaceuticals, Automotive and Office Furniture upon which Andy Taylor commented: “From the nationally recognised Card Factory to some of the UK’s well known FMCG companies, Expect Distribution has some exceptional partnerships with our clients with a focus on value added service.
“As we approach 35 years in business, achieving a turnover of nearly £40m and employing over 360 employees as well as winning Haulier of the Year three times with the Motor Transport Awards, the only UK haulier to win the award in two consecutive years, we’re as efficient and innovative as any competitor, with the in-depth industry knowledge and expertise that our clients need and appreciate.”
Matthew Kilner added: “We would both personally like to thank Neil and Bob and their vision and dedication which has created the business we have today. Regarding the company’s expansion and growth plans, we couldn’t be more excited to be working with our team to achieve and execute the company’s growth plans going forward and we intend to continue that organic growth which will see Expect grow by a projected 15-20% in 2022.
“The transport industry and specifically recruitment will remain a challenge in the coming year but the strength of Expect is within its diversity and we have some big plans underway to expand our warehousing facilities which will provide an additional 16,000 pallet spaces in March this year.
“We are proud to be taking Expect Distribution into a new era and we are committed to continuing this great success story.”
The acquisition process was successfully backed by funders Shawbrook Bank in the deal which was for an undisclosed figure. Legal advice was provided by Leeds-based Clarion.
North West company acquired by Yorkshire’s Premier Technical Services Group
Yorkshire-based Premier Technical Services Group Ltd (PTSG), the provider of specialist services to the construction and facilities management sectors, has acquired North West-headquartered NSS, marking a successful exit for investor BGF.
NSS is a specialist services provider, covering all aspects of external building maintenance – including window and technical cleaning, testing and platform hire – to the retail, commercial property, events, healthcare and distribution markets.
BGF initially backed NSS – which was formed by a merger with another BGF portfolio company – in July 2016 with £3.3 million to support its national roll-out and acquisition strategy.
Since then, the company has made four acquisitions to expand its geographical footprint and specialisms, grow its fleet and enter new markets, making NSS one of the largest independent businesses in the sector. EBITDA has grown five-fold during the investment period.
NSS has gained a competitive advantage in the industry through the business’s commitment to offering self-delivered services across the UK without using sub-contractors or hiring equipment or machinery.
Niel Bethell, CEO at NSS, said: “BGF’s funding allowed us to accelerate our plans to rapidly expand over the past five years. In this time, we’ve really grown up as a business – investing in our people, equipment, and technology. BGF brought the ideal combination of a long-term, investment approach and experience of scaling up businesses like ours.
“In PTSG, we’ve found the ideal home for NSS as their values match ours and they have the same uncompromising commitment to customer service. The deal is a statement of intent for the future and provides significant benefits for our team and customers now we’re part of a much bigger yet still entrepreneurial organisation. We look forward to working with our new colleagues to achieve our shared ambitions.”
Neil Inskip, head of BGF in the North West, added: “Niel and his team have done an impressive job of growing NSS’ enviable customer base and expanding into new regions and sectors. We’re delighted to announce such a positive outcome for everyone involved, which has delivered great returns for all shareholders.”
Paul Teasdale, PTSG’s Group CEO, said: “We are delighted to have acquired Nationwide Specialist Services (NSS) and warmly welcome the team to the PTSG family. This acquisition increases the capacity of PTSG’s experienced Building Access Specialists team, complementing the work of our highly trained specialists who excel in all access methods – cleaning, repairing and maintaining every kind of building and structure. Platform hire expands a niche specialist service offer, and we look forward to growing this area of the business.”
The announcement creates a combined business employing 2,300 people across 47 sites.
Plans approved for multi-million pound refurbishment project at the Hydro in Harrogate
Plans to significantly refurbish the Hydro in Harrogate have been approved by Harrogate Borough Council’s planning committee.
The project, which will start in April, will see the leisure centre extended and refurbished throughout, along with a new 400sqm fitness suite, improved reception and café, an overhaul and upgrade of the existing spin and dance class facilities and improved disabled access.
Outside, the car park will be reconfigured as well as new bicycle storage and six electric vehicle charging points.
The diving structure will also be replaced so that the facility can continue to create and nurture future Olympians, such as Jack Laugher and Oliver Dingley.
Simultaneously, the existing gas boilers will be replaced with heat pumps, along with the installation of solar panels as well as metering and energy monitoring and control systems.
These energy efficiency measures come following a successful £1.8million bid from the borough council through the government’s public sector decarbonisation scheme. It is anticipated that the carbon footprint for the building will be reduced by up to 60 per cent.
Councillor Stanley Lumley, Harrogate Borough Council’s cabinet member for culture, tourism and sport, and chair of the board of directors at Brimhams Active, said: “I’m delighted that the planning committee has approved the plans to redevelop the Hydro in Harrogate. This multi-million pound refurbishment project will create exciting new opportunities for local people to move more, live well and feel great.
“Our vision is to create a healthier and more active population that are living longer, more independent and happier lives. And by creating first-class facilities like this we’ll be able to deliver the aims and objectives of Brimhams Active.”
APSS to give away a free office design in celebration of its 25th year in business
Lincolnshire commercial office design and refurbishment company APSS is celebrating its 25th anniversary this year by giving away a free office design to one East Midlands business.
Established in Lincoln in 1997 by Chairman Darren Crookes, the company has naturally evolved from a partitions and storage solution company to provide a full design and fit out service. It includes its own in-house joinery department to speed up delivery time on projects and decrease overall costs for the customer.
Stuart Marsland, sales director for APSS, said: “To reach 25 years in business is a huge milestone for any company. To celebrate, we’re giving businesses in the East Midlands the chance to win a free office design. We know many companies have had to shift to a more flexible, hybrid way of working due to the COVID pandemic. However, many have not had the ability to change the office environment to reflect this new way of working.
“This has meant many offices have wasted space that could be put to better use. For example, changing banks of desks for alternative collaboration space, creating more group meeting rooms or individual rooms specifically designed to provide a quiet space for virtual meetings.
“We want to help companies see the potential its current office space has when designed specifically for the way the business now works.”
To enter the competition, businesses need to submit an online form before February 7th, 2022 and answer four questions about what both they and their staff want included in their office environment. The winner will be chosen by a panel of judges and will receive computer-generated images and a video walkthrough of the design to show the potential the office has.
In the last 25 years, APSS has completed over 10,000 orders for customers across the country. The company’s first-ever customer was Siemens. Since then, it has designed and refurbished offices and retail spaces for Wren Kitchens, Slimming World, Octopus Energy, Loughborough University, University of Sheffield and Bakkavor to name just a few.
For all terms and conditions of the competition, please visit the APSS website.
