Homepage - Tech - Business Link Magazine

Firms invited to collaborate in waste re-use as ‘raw materials’

Stuart Pearcey

-

12th June 2023

Firms invited to collaborate in waste re-use as ‘raw materials’

The West Yorkshire Combined Authority and The Yorkshire Circular Lab are collaborating on a project to explore eays manufacturers can work together to give new purpose to their waste materials instead of throwing them away. This process is called industrial symbiosis. Manufacturing is one of the biggest industrial sectors in West Yorkshire, but it also produces a lot of waste that harms the environment. Industrial symbiosis allows manufacturers to find new ways to use this waste rather than disposing it in landfill or incinerating it. The research project aims to understand the main sources of waste in the region and find other industries that can directly use or repurpose these materials in their own production processes. This research project supports West Yorkshire’s goal of becoming net zero by 2038 and helps manufacturers in the region move away from the traditional linear approach of taking, making and disposing, towards a more sustainable circular economy. If your manufacturing business in West Yorkshire wants to participate in this study to assess the potential reuse of your waste materials, please contact isaac.lassey@westyorks-ca.gov.uk.

Sheffield parcels firm calls in administrators

Stuart Pearcey

-

12th June 2023

0

Sheffield parcels firm calls in administrators

Today Richard Harrison and Howard Smith have been appointed Joint Administrators of Sheffield-based Tuffnells Parcel Express Limited.

Most of Tuffnells’ 2,200 employees have been made redundant, with fewer than 130 retained. All 30-plus UK premises have been closed.

The affairs, business and property of the Company are managed by the Joint Administrators. The Joint Administrators act as agents of the Company and contract without personal liability. Tuffnells Parcel Express Limited is registered in England and Wales. Richard Harrison and Howard Smith are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England & Wales.

New university partnership to develop rapid growth of Halifax pet treat company

Tess Egginton

-

12th June 2023

0

New university partnership to develop rapid growth of Halifax pet treat company

Marketing experts at Leeds Beckett University have joined forces with Halifax pet treats company, Sniffers, to build on the company’s rapid growth. They will support them in a strategy to develop their new ‘Naw’ own-brand products and enter new markets. A team of Leeds Business School academics will work with Sniffers Pet Care Limited on the two-year Knowledge Transfer Partnership (KTP), which is part-funded by the Government through Innovate UK. Sniffers is a small business based in Elland, Halifax, with over 40 years’ experience in the pet industry. Dr David Andrews, senior lecturer in marketing and project leader, said: “The KTP will focus on developing and embedding a platform for Sniffers to grow sustainably. We will develop strategies to identify the best distribution channels for Sniffers to enter new markets and establish their own-brand products. “Using our expertise to support the wider team at Sniffers, we will build their management capabilities, skills and training. This will create a more strategic approach for the business, embedding innovation throughout the company and facilitating the company’s long term growth objectives.” Another key focus of the KTP will be to build Sniffers’ targeted marketing strategies to amplify the brand impact with the company’s customers. The project aims to create a brand personality and reputation that reflects the central principles of Sniffers, and positions it more strongly in the market – to support their goal of being recognised as the UK’s leading natural dog treat supplier. Simon Brown, CEO, and son of the founder of Sniffers Pet Care, said: “We have experienced impressive sales growth in recent years – in part, due to the Covid-associated increase in dog ownership in the UK. We are ambitious and motivated to continue our strong growth through this new partnership with Leeds Beckett – including developing our own-brand products and growing in new markets. “Working with LBU has been a fantastic experience so far – the support and insight we’ve received already to get to this point in the KTP process has been beyond expectations. We very much look forward to embedding the capabilities within our business and helping us meet our ambitious targets – particularly as we are on the cusp of launching our new retail brand NAW.” The Sniffers team will have access to the university’s popular business support programmes including Help to Grow: Management, the #WECAN (Women Empowered through Coaching and Networking) programme – building the leadership skills, capabilities and opportunities of women in SMEs in the Leeds City Region, and student consultancy projects and placements. Jo Griffiths, head of Knowledge Transfer Partnerships at Leeds Beckett, added: “Working with our academics enables Sniffers to take advantage of future opportunities from a basis of sound academic knowledge and expertise, and a solid strategic foundation. “The project will embed improved strategic marketing decision-making capabilities and skills to support longer-term, sustainable SME growth. These ambitions and objectives align directly with the UK government’s agenda to foster a robust economy and for levelling up.” Dr Andrews has more than 30 years of industry experience including senior posts as CEO of Yorkshire Tourist Board and as a company director. He has worked with more than 200 small and medium-sized enterprises (SMEs) in the last four years on a variety of funded programmes. He is also a workshop facilitator and business coach on the BEIS funded Help to Grow: Management programme at Leeds Beckett and regularly works with Leeds City Region businesses with growth aspirations and strategic challenges. The academic project team is completed by Helen Hepworth, lecturer in marketing at Leeds Business School. Prior to joining the university, Helen spent two decades working in the UK consumer packaged goods market, holding senior positions in product development, category management and sales, and more recently working as a retail consultant. A skilled graduate will be recruited to carry out the project, as a full-time member of staff within the business, and with the full support and input of the academic team at Leeds Beckett.

Chemical specialist receives £1.3m investment to facilitate management buy-in

Tess Egginton

-

12th June 2023

0

Chemical specialist receives £1.3m investment to facilitate management buy-in

A Yorkshire business which produces chemicals for the foundry industry for customers worldwide has undergone a management buy-in backed by a £1.3m debt funding package from Frontier Development Capital (FDC). Eurotek Foundry Products specialises in resin binders, which are manufactured and blended to specific customer needs, and exports 70% of its production. Established in 1993, the company employs 18 staff at its headquarters in Elland and has a European subsidiary in Poland. As part of the buy-in Richard Catchpole, who has over 35 years’ experience in the chemicals industry and is the former CEO of Akcros Chemicals, will become chair. The deal also gives GIL Investments, a specialist industrial investor, a majority shareholding and provides an exit for the founders. However Dale Crystal, the current Managing Director, and Raymond Higgins, sales director, will remain with the business for the foreseeable future to help deliver its growth strategy. Richard Catchpole, the new chair, said: “I am delighted to be joining Eurotek, which is an established business with a strong track record in the chemicals sector. The management team have done an excellent job in successfully navigating some of the challenges of recent years, such as the pandemic, Brexit and the war in Ukraine. I look forward to working with the team as we continue that journey and explore new opportunities to take the business forward.” Simon Kelsall, investment director at Frontier Development Capital, said: “Eurotek has built an impressive export business and loyal client base and benefits from extremely high levels of customer satisfaction. Richard’s appointment will add further weight to the management team while the investment from FDC and GIL will provide additional working capital to support its future growth.” The Wilkes Partnership LLP provided legal advice to FDC, while Gateley Legal advised the acquirers including GIL Investments. Shoosmiths LLP advised IGF which provided invoice discounting facilities and AG Corporate Law acted for the vendors. BSN Associates provided financial due diligence for the acquirers.

Future of bicycle firm secured following sale of the business

Tess Egginton

-

12th June 2023

0

Future of bicycle firm secured following sale of the business

The future of independent bicycle designer and retailer Planet X Limited has been secured following a sale of the business and its assets to Winlong Garments Limited, a company funded by Baaj Capital LLP. Founded in Sheffield and now based in Rotherham, the business has been designing and building road, gravel and mountain bikes for over 30 years, under brands including Planet X, Holdsworth, On-One and Titus. In addition, the company sells a range of clothing and accessories via its online store. The company had performed strongly during the COVID-19 pandemic, but had since experienced a dampening of demand. The impact of this on cash flow, coupled with supply chain issues, prompted the directors to explore sale, refinance and investment options. Following a seven week sales process that generated significant trade and financial investor interest, the business and assets were sold via a pre-pack transaction to Winlong Garments Limited. Howard Smith and Rick Harrison from Interpath Advisory were appointed joint administrators to the company prior to the transaction completing. All of the company’s 33 employees have transferred to the purchaser as part of the sale. Howard Smith, Managing Director at Interpath Advisory and joint administrator, said: “Planet X has grown over the years to become a well-respected and well-loved name in the cycling community, so we’re pleased to have been able to conclude this transaction which will see the business continue to trade and, importantly, which safeguards the jobs of the company’s workforce. We wish management and the new owners all the very best for the future.” Jas Singh, owner and director of Baaj Capital, said: “This exciting acquisition accelerates Baaj Capital’s plan to invest across a wide spectrum of diverse business opportunities; the retail sector, with both online and bricks and mortar sites, being only one area of interest. “Baaj Capital has actively funded the acquisitions of both distressed and solvent companies through many sectors over the recent past. Planet X incorporates both specialist production and innovative design, with a reputation for quality and finish, and represents an exciting addition to the businesses trading with Baaj Support. Our thanks to the Interpath team and company management for their help in delivering this project.” Richard Mostyn-Jones, Planet X CEO, said: “I am delighted to have secured the future of Planet X and the team here, with this transaction. Baaj Capital is a very entreprenurial organistion with vision and values aligned with our own. We look forward to further building on our heritage and expertise and continuing to supply the cycling community both here in the UK and across the globe.”

Industrial investment firm acquires Scunthorpe-based supplier of core sealing products

Tess Egginton

-

12th June 2023

0

Industrial investment firm acquires Scunthorpe-based supplier of core sealing products

Industrial investment firm Red Coast Industries, lead by Omar and Yossuf Albanawi, have acquired Scunthorpe-based Premier Sealant Systems Limited in a deal backed by Shawbrook. Red Coast was spun off in 2022 by Banvest, a family run investment group, to identify investment opportunities within the industrial sector where it can utilise its team’s expertise to add direct value. Founded in 1994, Premier is a national manufacturer of profiled foam fillers and supplier of core sealing products used in the roofing, cladding, glazing, coldstore and maintenance sectors.

In 2018 Managing Director Stewart Morgan joined the business and he, alongside the rest of the company’s management team, has delivered a strong period of growth, something Red Coast will look to build on with their own expertise and management experience. The full terms of the deal consist of a multi-million-pound flexible funding package which will both facilitate Red Coast’s acquisition of Premier, as well as providing working capital to the business to continue its growth trajectory. The previous owners of the company, John Burns and Peter Duffy, will be fully exiting the business. The two parties were introduced by Prodipta Bhattacharya, Managing Director at US Capital Global. Rob Fawke at Gunnercooke acted for Shawbrook on the deal and James Killing and Josh Davison from DSW conducted the Financial Due Diligence on the deal. Stewart Morgan, Managing Director of Premier Sealant Solutions, said: “This deal marks an exciting new stage in the evolution of our business. For over 20 years we have prided ourselves on producing high-quality goods for the UK’s biggest roofing manufacturers and contractors. “Our approach and commitment to providing industry leading service, quality and knowledge has helped us become the nation’s leading supplier of core sealing products. “I would like to extend my gratitude to the team at Shawbrook who offered unwavering support from day one and delivered a funding package unmatched in its speed and flexibility. We are very much looking forward to working with both Shawbrook and the team at Red Coast going forward to further propel our growth.” Matthew Fannon, director of Corporate Lending at Shawbrook, said: “It was a real pleasure to work with Stewart, Omar and Youssuf on this deal and we are delighted to have been able to put together a strong funding package which will not only support Red Coast’s acquisition, but allow Premier to build on its already stellar record of growth. “Premier is already an industry leader in the core sealing space and is led by an experienced management team with a clear vision and strong foundational commitments to providing excellent products. We look forward to working with them going forward.”

Wakefield city centre car parks to close as regeneration plans take next steps

Tess Egginton

-

12th June 2023

0

Wakefield city centre car parks to close as regeneration plans take next steps

Rishworth Street and Gills Yard car parks in Wakefield will be permanently closed from midnight on Sunday 18 June, so that work can begin on a new private sector development that will see the former police station on Wood Street transformed. The car parks form part of the site now earmarked for a residential offer. As Rushbond, the developer, is due to start work in July, the car parks will close. The ambitious plans form part of the Civic Quarter regeneration and will re-purpose one of the most historic areas of Wakefield city centre as a place where people can live, work and socialise. Cllr Matthew Morley, Wakefield Council’s Cabinet Member for Planning and Highways, said: “The surface-level car park on Rishworth Street was created as a temporary measure following the demolition of the multi-storey car park. It now needs to make way for this exciting regeneration project that will breathe new life into this historic part of the city. “We know that many of the spaces in these car parks are used by people who work around the Civic Quarter, including our own Council staff. We will be directing people to other long stay parking spaces, as well as creating new ones this Summer and Autumn.”

York and North Yorkshire LEP gears up for annual conference

Stuart Pearcey

-

12th June 2023

0

York and North Yorkshire LEP gears up for annual conference

The York and North Yorkshire LEP is gearing up for its annual conference on July 7th.

It’s to be an online event aimed at celebrating the Power of Partnership and showcasing the remarkable achievements that can be accomplished after the joining of forces.

A spokesman for the LEP said: “Taking place online, this year’s conference will provide a unique opportunity to hear first-hand from prominent organisations and businesses about the transformative impact of our investments in local areas. Through their inspiring stories, we aim to highlight the collaborative efforts that are reshaping industries and communities. “During the webinar, attendees will be able to engage with distinguished guests as well as our LEP Chair Helen Simpson and COO James Farrar. This interactive session will allow participants to pose questions and gain valuable insights into the significant strides being made through effective partnerships. “While the detailed agenda will be shared closer to the event date, we assure you that the Annual Conference will deliver a thought-provoking program with engaging discussions and enlightening presentations. Our aim is to foster a sense of unity, collaboration, and innovation among attendees, inspiring them to explore the limitless possibilities of partnership.” The event is scheduled for July 7th from 10:00 am to 11:30 am and will be conducted via Zoom. For further information and to register your interest, please visit: ynylep.com/news/annual-conference-2023

Ultimate MBO for Yorkshire-based commercial interiors specialist

Tess Egginton

-

12th June 2023

0

Ultimate MBO for Yorkshire-based commercial interiors specialist

A Yorkshire-based commercial interiors specialist, with a strong market presence in the North of England, has been acquired in a management buyout by six members of its senior team.

Ultimate (Commercial Interiors) Ltd specialises in fit-out, furniture, design and consultancy, with a particular focus on office spaces and hotels. The company is headquartered in Cross Hills near Skipton, where it has a vast 16,000 sq ft workplace experience showroom, known as ‘The Hive’.

The MBO team comprises of long-standing co-owner Dan Platt who now takes up the role of CEO, along with Vici Plunkett as finance director, Steve Broadbent as pre-construction director, Steve Cowley as director, Bobby Murriero as contracts director and Paul Alexander as sales and brand director.

The team have taken over the running of the company from Mark Hickey and Mark Naisbitt who founded Ultimate in 2002 and who are now stepping down. However, the pair will maintain a minority shareholding in the business.

In addition to its Yorkshire headquarters and showroom, Ultimate has offices in Manchester, Liverpool and Newcastle, and employs more than 40 people, as well as working with dozens of consultants, specialist contractors and a wide-spanning supply chain.

The buyers were advised by Susan Clark and Steven Silver, from the Leeds office of Yorkshire law firm, LCF Law and KM Business Advisory provided accountancy and financial advice. The sellers were advised by Christian Hunt and Nick Thackray from Bevan Brittan and Victoria Court Private Clients. In addition, Claritas Tax provided specialist tax advice to both parties and Paul Dolyniuk, of SME Capital, provided the funding facility.

In its latest financial year, Ultimate grew turnover by 15% to more than £23million and plans to grow its pre-construction and delivery teams further this year. In addition, the firm is currently looking to recruit a new estimator and contracts manager.

Dan Platt, who joined Ultimate in 2007 as joint owner and director, said: “For the past 21 years Mark and Mark have worked hard to build a resilient and formidable business, which is highly respected in the market by clients, suppliers and competitors alike.

“During that time, Ultimate has enjoyed steady, progressive growth and has earned vast amounts of trust with clients, which means we enjoy a high volume of repeat business and recommendation and have lots of clients that have been with us since day one.

“In recent years we’ve all worked extremely hard to take the business to the next level. Our state-of-the-art showroom is a must visit for any business looking to relocate or refurbish their premises. The Hive’s launch has also coincided with lots of businesses remodelling and investing in their premises following the pandemic. Their desire to create attractive and productive workspaces, where people want to work, is exactly why they come in.”

Dan added: “This MBO comes on the back of another record year, we’re currently working on a wide range of exciting projects throughout the UK, ranging from single office units to 20,000 sq ft schemes. All this combines to make it a very exciting time for the Ultimate team, our clients, and our supply chain.”

Susan Clark, partner at LCF Law, added: “Ultimate is an ambitious business and a leading player in the commercial interiors market, with a vast portfolio of innovative and impressive projects throughout the UK.

“Crucially the previous owners had focussed on creating an experienced and accomplished management team who were ideally placed to take the business over when the time was right. It’s been a pleasure to guide Dan and his fellow directors through this MBO and we look forward to seeing them continuing to build on Ultimate’s name and superb reputation.”

SME Capital regional director, Paul Dolyniuk, added: “We are delighted to have supported Dan and the very impressive senior management team at Ultimate with their MBO. This is a long-standing, high-quality business with a loyal customer base underpinning the quality of its service proposition. We’ve spent a good deal of time with the team and are thrilled to be backing the next stage of their growth journey.”

Levelling up funding supports creation of rooftop bar in Hull

Stuart Pearcey

-

12th June 2023

0

Levelling up funding supports creation of rooftop bar in Hull

Added Value Portal Limited has been awarded £75,000 from the government-funded Levelling UP scheme towards creating a new rooftop bar at 55 Whitefriargate. The project will include a multi-functional bar, food and leisure area on top of an extension at the back of the original building, creating six full-time equivalent jobs and adding to the area’s evening economy. Cllr Paul Drake-Davis, Hull City Council’s portfolio holder for regeneration, said: “This project complements what is already a vibrant place for people to work and socialise. “This new rooftop bar will enhance the appeal of the city centre as a destination to help drive footfall and boost the hospitality and evening economies.” 55 Whitefriargate, on the corner of Parliament Street, has undergone significant regeneration in recent years. Built in 1879, the former bank is now home to Bar55, situated in the old bank vaults. Gerard Toplass, The 55 Group chief executive, said: “Whitefriargate was the heart of the city for so long and it’s fantastic to be part of the regeneration that will bring life back into this fantastic part of Hull. “We have built our business in Whitefriargate and we are looking forward to continuing our investment with help from the Levelling Up Fund. “We are excited about building an urban landscape and rooftop experience to rival what is available in cities like Manchester and London.” In 2021, Hull City Council was awarded £19.5million from the Government’s Levelling Up Fund to support infrastructure and deliver a package of city centre regeneration works. £7.5million of this being used for the Levelling Up Fund grant scheme, which aims to bring unused floorspace of any vacant or partially occupied property back into use and creating new jobs. Similar to previous grant schemes in the Old Town, the Levelling Up Grant scheme will allow various diverse businesses to open and operate, breathing new life into the area.

ABOUT US

FOLLOW US