Leeds-based private equity firm acquires Aberdeen logistics company

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Leeds-based private equity firm Endless LLP has acquired ASCO, an Aberdeen-headquartered provider of multi-site integrated supply base operations to the energy industry handling over 1.3 million tonnes of cargo each year with an overall warehouse footprint in excess of 150,000m2. ASCO has over 1,000 employees in the UK with a further 500 across its international operations. It operates from 60 strategically placed locations in nine countries across six continents serving offshore energy operators, developers and major service companies in the renewables, new energy, oil & gas, and decommissioning markets. The acquisition by Endless will further strengthen ASCO’s position in the growing renewables and new energy markets, enabling it to capitalise on the increasing opportunities presented by the global energy transition. Andrew Ross, Endless partner, says: “ASCO is a fantastic business servicing a blue-chip customer base across its global operations with great potential for further growth. “It is an exciting time in the energy sector both in the UK and internationally and ASCO is well placed to support its customers to accelerate the energy transition. We are looking forward to supporting Mike and the entire ASCO team to deliver the global opportunities available to the business across both current and new service lines.” Endless will continue to support the current management team, including the planned transition of a new CEO as Mike Pettigrew assumes the role from Peter France on 2 October. Mike Pettigrew adds: “Over the last few years, ASCO has succeeded in supporting its longstanding existing customer base whilst also expanding into the renewables market, actively contributing to numerous wind projects in the North Sea. “Our commitment to supporting all new energy development has led us to build strategic alliances in cutting-edge energy ventures such as carbon capture utilisation and storage and hydrogen projects. “Leveraging over fifty years of extensive offshore logistics experience with our focussed approach to sustainability, we’re well positioned to capitalise on the significant opportunities arising from the energy transition. We look forward to working closely with Endless to further build on our growth during this exciting period for the energy industry.” The deal has been funded from Endless Fund V which invests in UK mid-market companies to support them on their transformation journey. The Endless deal team was led by Andy Ross, Stefan Nowakowski and Jon Duffy, with financial due diligence support from Kerry Battiscombe, Sian Williams and Kayleigh van Eyk. Endless were advised by Walker Morris (Legal); KPMG (Tax); Lodestone (Political); Jacksonbreen (IT); and PwC (Debt). Advisors for the vendors were Piper Sandler (Corporate Finance); Ashurst (Legal); and Deloitte (Financial and Tax Due Diligence). Management were advised by Burness Paull (Legal).

University of York’s Biorenewables Development Centre awarded further funding to research biohydrogen production for transport

Following on from Hydrogen BECCS Innovation Programme Phase 1 funding for the H2Boost project, the Biorenewables Development Centre (BDC) and partners have successfully been awarded £5 million for a phase 2 project. This is funded by the Net Zero Innovation Portfolio (NZIP) that has been awarded by the Department for Energy Security and Net Zero.
H2Boost aims to produce biohydrogen for the UK transport sector by integrating an advanced oxidation and enzymatic pre-treatment technology of bio-based feedstocks, conversion to bio-hydrogen by dark fermentation (DF) and down-stream processing of by-products via anaerobic digestion, microbial CO2 capture and storage. Building on the work of phase 1, under-utilised, low-value feedstocks will be subjected to different pre-treatment conditions to improve biohydrogen yields and reduce the residency time of nutrient-rich streams in DF. The fermentation by-products, namely anaerobic digestion digestate, will be used as substrates for algal propagation and anaerobic digestion to achieve a closed-loop system for enhanced biomethane yield and carbon capture and storage (CCS). This multi-step process aims to create a technology that is financially viable and environmentally sustainable. Input from the supply chain, market engagement, techno-economic and life cycle analysis will demonstrate process environmental and commercial sustainability. Deborah Rathbone, Bioscience Innovation Team Manager, Biorenewables Development Centre, said: “We are delighted to be awarded phase 2 funding to further develop biohydrogen for the UK transport sector. “Working with our ten partners, the University of Leeds, Greenthread Solutions, Qube Renewables, Aardvark EM, WSP, Cyanocapture Ltd, The Maltings Organic Treatment Ltd, AB Agri, NNFCC and CM90 Ltd, we have a real opportunity here to make a difference as the H2Boost objectives align with the UK ambition of reaching net-zero by 2050 with low carbon hydrogen-based technologies providing up to 35% of energy requirements.” The work undertaken by the consortium will contribute to the decarbonisation of the passenger and long-haulage transport sector which contributed to 16% of 2019 domestic GHG emissions. The growing demand for hydrogen to meet the UK net-zero ambitions will rely on processes such as those deployed by the H2Boost consortium. The project combines expertise from academia and industry with support from a panel of external advisors on feedstock pre-treatment, fermentation, microbial analysis, and downstream processing. The integrated process developed by H2Boost partners will offer a novel reliable source of UK-produced low-carbon biohydrogen and high-value products with market applications such as biofertiliser and biofuels to help to address the use of high volume waste streams in generating biohydrogen. The Hydrogen BECCS Innovation Programme supports technologies which can produce hydrogen from biogenic feedstocks and be combined with carbon capture. It forms part of the Department for Energy Security and Net Zero £1 billion Net Zero Innovation Portfolio, which aims to accelerate the commercialisation of innovative clean energy technologies and processes through the 2020s and 2030s. In total over £26 million of funding was awarded to enable 6 organisations, including 5 micro- and small- sized enterprises to deliver commercially viable hydrogen BECCS innovations.

Leeds business scores partnership to spearhead drone innovation in Premier League refereeing

A Leeds-based business has secured a unique partnership with the PGMOL, to spearhead the use of drone technology within top Premier League football referee training programmes, to coincide with the kick-off of the new season.

Drone provider, Coptrz is working with the PGMOL, the body responsible for the management and development of officials in English professional football, to implement drones within practical-based programmes benefitting top referees such as Michael Oliver and Anthony Taylor.

The core aim is to widen the training and development of officials in professional football by building on the current video analysis provision offered to both referees and assistant referees.

PGMOL recently opened the doors of its pre-season training camp at Loughborough to show how it is harnessing Coptrz’s drone technology to enhance match officials’ coaching programme.

Using both the DJI Mavic 3 Enterprise, and the DJI M30 drones, PGMOL can capture game-realistic situations from a bird’s eye perspective during its regular training camps; footage of which is then analysed in real time and off the pitch to help referees and assistant referees, and their coaches, work on different aspects of their game. In particular, this focuses on positioning and improving sight lines to gain the optimum angle to make decisions during games.

George Burne, business development director at Coptrz, based in Leeds, said: “Teaming up with the PGMOL is a key milestone for Coptrz as a business and will really demonstrate the positive impact drone technology can have at the highest level of the professional game.

“We look forward to working with PGMOL to provide referees and assistant referees in football with even greater analysis within their regular training scenarios.” 

Adam Carter, head of performance analysis at PGMOL, said: “The use of technology in sport is constantly evolving and we are committed to ensuring we remain at the cutting edge of innovation.

“The introduction of drones into our training programme has meant that we can now capture game scenarios from a new and beneficial viewpoint, which is playing an important part in preparing our officials for their fixtures both at home and across the world.

“There’s been a lot of investment into the coaching structure at PGMOL in recent months and this technology is another positive step to continuing to provide officials with the best possible tools to perform on matchdays.”

North Yorkshire firms offered free digital marketing advice

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Businesses in North Yorkshire have the chance to enhance the way they use social media and digital marketing with fully funded one-to-one bespoke support from industry expert Sue Thompson of Catch Design Management. This opportunity is suitable for any small business looking to improve their social media and digital marketing skills. Whether you are the business owner, marketing manager or social media assistant, this support is for you. Firms will gain an overview of the benefits of creating a social media strategy and the skills to develop and curate time-effective quality content for your target audiences . Sue will guide you through the most popular social media platforms available for small businesses including Facebook, Instagram and Google Business Profile, highlighting best practice ideas for these platforms as well as some of the new features that have been developed specifically to help small businesses to reach their audiences. Further information from joseph.midgley@ynygrowthhub.com

Yorkshire Building Society partnership with Citizens’ Advice goes nationwide

An award-winning partnership between Citizens Advice and Yorkshire Building Society will now provide more support to more people after expanding nationally to over 40 locations. The partnership sees Citizens Advice advisers hold free, impartial and confidential appointments in private meeting rooms at selected high street branches of the Society. It initially started with just six Yorkshire Building Society branches in 2021, but due to increased demand the amount of Yorkshire locations offering the service trebled in the first 18 months. Now, this latest expansion nationally will see 42 branches offer Citizen s Advice advisers across Scotland, Yorkshire and the North West, East Anglia and the South West of the country. Glasgow, Newcastle, Norwich and Plymouth are among the new locations. The service, which is available to all members of the public, not just the Society’s customers, supports people with a range of issues, and to date has unlocked more than £1 million worth of estimated additional income for those it has helped. Yorkshire Building Society Chief Exec Susan Allen said: “As a mutual organisation we are committed to providing real help to people in our communities, and this is just one of the ways we do this. In the current climate, this partnership is incredibly relevant – offering an immediate lifeline to people who need it, in an accessible location. “We know from the current locations just how valuable this service continues to be and I have no doubt extending the use of our retail space to host Citizen Advice advisers nationally will ensure more people across the country benefit from the support, where and when they need it.” Dame Clare Moriarty, chief executive of Citizens Advice, said: “We’re thrilled to be extending our partnership with Yorkshire Building Society. The number of people helped by Citizens Advice hit a record high during the first four months of 2023, and this partnership will help us to reach even more people who need support during these particularly challenging times.”

Dairy farmers to get new rules over contracts, says Government

New contract regulations for the UK’s dairy farmers will come into force in the autumn, the Government has formally announced, promising to empower dairy farmers’ negotiating position, helping to ensure fairer prices, transparency and accountability across the supply chain. NFU Dairy Board chair Michael Oakes said: “These new regulations mark a significant step forward in the government’s efforts to increase fairness and transparency in the dairy supply chain.” New regulations promise to empower dairy farmers’ negotiating position, helping to ensure fairer prices, transparency and accountability across the supply chain
The government has announced that the regulations will come into force later this year and will enable farmers to challenge prices, prevent changes being made to contracts without farmers’ agreement, and make it easier for farmers to raise concerns. The development of the regulations has been supported by detailed discussion with key industry players including the NFU and Dairy UK, with Mr Oakes describing the announcement as a “significant step forward” in increasing fairness and transparency across the dairy supply chain. He said: “For a long time, unfair milk contracts have held British dairy businesses back, and these changes will give dairy farmers much needed business security and confidence, as well as helping to share risk along the dairy supply chain.” Farming Minister Mark Spencer said: “Farmers must be paid a fair price for their produce and these regulations will provide price certainty and stability for farmers by establishing written milk purchase agreements with clear and unambiguous terms. “This represents a key milestone in our commitment to promote fairness and transparency across food supply chains to support farmers and build a stronger future for the industry, and will be followed by reviews into the egg and horticulture sector supply chains this Autumn.”

NHS names new Chief Exec for trusts north and south of the Humber

Today Jonathan Lofthouse has taken up the role of Group Chief Executive at Hull University Teaching Hospitals NHS Trust and Northern Lincolnshire and Goole NHS Foundation Trust.

Formerly site Chief Executive as part of King’s College Hospitals, Mr Lofthouse will oversee the management of both organisations. As well as five hospitals – Hull Royal Infirmary, Castle Hill Hospital, Diana Princess of Wales Hospital in Grimsby, Scunthorpe General and Goole – he will be responsible for some community services on the south bank of the Humber. He has previously held the position of Director of Improvement at Liverpool University Hospitals NHS Foundation Trust. HUTH and NLaG will continue to be two separate organisations although they will, in future, share an executive team. While the two organisations already collaborate closely in the delivery of many key hospitals services, the appointment of Jonathan Lofthouse is the most significant step in enabling them to work more effectively on shared regional challenges. Mr Lofthouse said:“We all know how busy NHS services are and how much pressure services are under. We also know that following the pandemic many of the demands we are now experiencing across our hospitals and community services are really challenging and difficult to respond to. That’s true across all our north and south bank hospitals. We have emergency pressures, challenges in discharging patients and too many patients who have been waiting far longer than we would desire for our care, whether that be surgery, diagnostic or therapeutic. “Now is the time for us to act creatively and courageously and innovate, focusing all of our efforts on making things better for patients and for staff. Through a group operating model we get to do that on a far bigger scale, and the power of that collective focus, the effect of coming together, I believe will allow us to create stronger, higher quality, better functioning services for our patients, and create more opportunities for our 17,000 staff.”

Rising debt and inflation fuel surge of Yorkshire businesses in financial distress

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Yorkshire businesses are facing a growing burden of escalating economic pressures including rising interest rates and higher labour and materials costs, according to the latest Red Flag Alert data from independent business rescue and recovery specialist Begbies Traynor.

The report found that 29,261 businesses in Yorkshire were suffering early or ‘significant’ distress in Q2 2023, an 8% increase on the same period in 2022 and up 4.9% on the first quarter of this year. ‘Significant’ distress refers to businesses showing deterioration in key financial ratios and indicators including those measuring working capital, contingent liabilities, retained profits and net worth.

Across the UK, ‘significant’ distress was up by 8.5% in the second quarter of this year compared to the same period last year, with a total of 438,702 businesses affected. The three sectors most severely affected by financial distress nationally were support services, construction and real estate and property services.

The latest data is sourced from a completely new Red Flag dataset that has involved deep dive analysis of eight years’ company data by data scientists over the past two years to track key factors behind company distress and failure rates.

Of the 22 sectors monitored by Red Flag Alert, in Yorkshire nine reported increases of over 10% in the number of companies in significant financial distress compared with a year ago. Sectors suffering the biggest increases in significant distress in the region, compared to last year, included sport and health clubs (16.7%), property businesses (14.2%) and retailers (14.6%) which accounted for 21% of this distress (6,074 businesses). Other sectors which saw escalating early distress were health and education (13.4%) and media (11.3%).

Julian Pitts, regional managing partner for Begbies Traynor in Yorkshire, said: “Higher interest rates have hit both consumers and businesses hard and there are mounting concerns that the situation may become worse in the second half of this year in Yorkshire and across the UK, when winter sets in and energy costs go up.

“Consumers are feeling the pinch and cutting back not just on discretionary spending but also on essentials to counteract higher mortgage and loan repayments. Meanwhile businesses are also seeing the cost of their debt rising and, still reeling from the effects of the pandemic and set back by higher energy bills and the effects of the war in Ukraine, it’s no wonder that the number of distressed companies has jumped since last year.

“Given the wider economic uncertainty we fear that time is simply running out for many businesses and we expect a surge in company collapses with the likely failure of many ‘zombie businesses’ in the coming months.”

He added: “Our advice to businesses is to monitor their financial position carefully and seek advice from qualified restructuring professionals as soon as any problems become apparent to avoid them escalating.”

Plans approved for £12.5m Hull facility to drive low carbon technologies

Ideal Heating has received the green light to establish a new £12.5m research and development facility to support low carbon technologies including heat pumps. Hull City Council has granted full planning permission for the UK Technology Centre at Ideal Heating’s headquarters site in the city. The R&D facility will create a testbed for product development and advancements in the heating solutions to help decarbonise UK homes and business premises. The state-of-the-art facility, at Ideal Heating’s site at National Avenue in Hull, will see the company expand its R&D team. It represents a significant investment from Ideal Heating and will play key role in the company’s transition to low carbon heating solutions including heat pumps. Construction of the UK Technology Centre is expected to begin this October and is due be completed in late 2024. The R&D centre is set to be operational in early 2025. Ideal Heating engineering director Helen Villamuera said: “Our UK Technology Centre is part of a major £60m investment we’re making in our Hull site, to support heat pump manufacturing, distribution and innovation in heating technologies. “From the outset, Hull City Council has been fully supportive of our plans, which will create highly skilled jobs in the city and expand our existing R&D capabilities. “We’re delighted to have secured full planning permission for the UK Technology Centre. We will now begin a competitive tender process to appoint a contractor to deliver this project.” The two-storey building, with an additional partial storey to accommodate plant rooms for the centre, will help to develop and refine the low carbon heating technologies, including heat pumps, needed to decarbonise the UK’s 25 million homes. The Government has set ambitious targets for heat pump deployment, including for 600,000 heat pumps to be installed in domestic properties annually by 2028. The UK Technology Centre will provide a purpose-designed new home for Ideal Heating’s expert R&D team, which has an increasing range of engineering roles related to design, development, electronics, simulation and product testing disciplines. Laboratory facilities within the 38,000 sq ft building will enable Ideal Heating’s R&D team to simulate a range of scenarios and conditions to test new innovations and advancements. The R&D facility is one of a series of major investments from Ideal Heating at its Hull site. Construction work has been completed on a heat pump production facility and expanded distribution centre, totalling £20m of investment. Ideal Heating also announced recently it had started producing its new monobloc heat pump, Logic Air, in Hull as the company supports the rollout of renewable heating products. Ideal Heating has also opened a £2.2m National Training and Technology Centre in Hessle, on the outskirts of Hull, with capacity for up to 5,000 installers every year to learn the skills needed to supply and maintain heat pumps.

New commercial scheme set for central Lincoln

Lincoln contractor, Stirlin, has revealed details for a new commercial scheme in central Lincoln. The scheme, Witham Enterprise Park, is planned to offer nine new industrial units with sizes starting from circa 956 sq ft, designed by Johnathan Roberts Architects and constructed by Stirlin. The 1.22-acre site, located off Newark Road, adjacent to the Esso fuel station and the River Witham, serves as a prime gateway into Lincoln City Centre. Split across three phases, Witham Enterprise Park will provide over 16,000 sq ft of employment space. Tony Lawton, Managing Director of Stirlin, says: “We’re delighted to collaborate with our joint venture partner to bring forward Witham Enterprise Park. The existing site will greatly benefit from a complete regeneration and there is a notable lack of sufficient contemporary industrial space within the city centre. “We are looking forward to delivering another fantastic project that will boost the county’s economic growth and support the local business base. With its excellent access to Lincoln City Centre and the A46, Witham Enterprise Park will act as the perfect hub for a variety of both local and national enterprises.” Jasper Caudwell, Chartered Surveyor at Pygott & Crone, says: “We are delighted to be named as sole agents on another one of Stirlin’s leading developments in Lincoln, Witham Enterprise Park. The scheme sits in an extremely attractive and strong strategic position located just off Newark Road and will fill a much-needed gap in the market for accessible, modern warehouse space. “The success of the scheme has already been proven by the early interest off-plan, with two units already under offer. We recommend interested parties to get in touch at the earliest to see how your business could benefit from being located at Witham Enterprise Park.” Site preparation works are underway, with construction due to commence imminently.