The UK’s leading integrated vehicle salvage, dismantling and recycling company is beginning 2022 with a new recruitment push, following a flurry of successful contract wins.
SYNETIQ is now recruiting a range of 30 HGV driver positions to meet demands from with an increased flow of salvage and end of life vehicles.. Candidates are encouraged to apply via the company’s new website, which launched at the beginning of the year.
The HGV recruitment drive is part of a planned 20% increase in SYNETIQ’s team of colleagues, with the business also advertising roles within its client team and wider transport function. Successful applicants are rewarded with a £500 joining bonus, available upon completion of a six-month probation period.
Natalie Buckley, Head of HR at SYNETIQ, said: “It’s such an exciting time for our business, following our acquisition by IAA towards the end of 2021. As we approach the three-year anniversary of SYNETIQs creation, we’re delighted to be welcoming more talent into our experienced team. We encourage anyone who might be interested in joining us on the next chapter of our journey to apply online today.”
Executive backs below-inflation council tax rise for North Yorkshire
North Yorkshire executive agreed to back a below-inflation council tax rise today of 3.99 per cent, below the maximum 4.49 per cent permitted.
Members heard how North Yorkshire can draw on reserves built up during robust savings programmes of past years to lessen the blow and help residents and the council steer through choppy waters ahead. The Executive agreed unanimously today to recommend a 3.99 per cent council tax rise, below the permitted maximum under government rules, in order to protect resident’s pockets while continuing to meet the needs of the most vulnerable people in the county’s communities. Such a rise will also help to maintain a sound budgetary position before the new unitary council for the county comes into effect from 1 April 2023. Councillor Gareth Dadd, our Deputy Leader and Executive Member for Finance, said: “We have set below inflationary rises over the past 11 years when inflation has risen by 38 per cent and council tax increases by 33 per cent. “Despite the challenges of this year with rising costs associated with high inflation and uncertainty in relation to government funding, along with the continuing “scarring” caused by Covid-19 and increased demand for services, we are in a more robust position than most other authorities. For this reason we can once more back a below-inflationary rise. “We have tackled the savings required through the difficult years of austerity – which are still with us – in a pragmatic and early manner, squeezing £220m from the revenue budget. So we now have a pot of reserves to help us through these particularly choppy waters. We have prepared the rigging before we enter the storm – we will not be blown off course. Councillor Carl Les, our Leader said: “We are facing an unprecedented range of risks – the continuing impact of Covid-19, harsh winters and climate change, the need for interventions to prop up social care, the escalating costs of transport for special educational needs students, to name but a few. “These pressures are such that given the need to continue to deliver key services at a time of rising demand and the need to successfully transition to a new council, our final budget will require a higher degree of support from reserves than would otherwise be the case or is desirable. We are prepared for that.” Cllr Gareth Dadd added: “To freeze council tax at this stage would be irresponsible and a disservice to the most vulnerable in our society; to set the budget with a maximum tax rise of 4.49 per cent would hit our residents pockets too hard. But a rise of 3.99 per cent with the option to draw on reserves when necessary, acknowledges both the financial pressures faced by residents and the vital services which deliver to our most vulnerable.” Today’s Executive budget recommendations will be decided by the full council in February.AlphaPlus acquired by leading assessment organisation, AQA
AlphaPlus has been acquired by AQA, the UK’s leading assessment organisation.
AQA is the UK’s biggest exam board, setting and marking around half the GCSEs and A-levels taken in England each year. It is a world leader in assessment, with a cutting-edge research department focusing on advancing assessment and a joint venture with Oxford University Press – OxfordAQA – offering qualifications internationally.
This acquisition will allow AlphaPlus to pass on the benefits of AQA’s considerable assessment, research and technological capabilities to our clients while operating as a standalone subsidiary of AQA. AQA’s goal of advancing education by helping teachers and students realise their potential is strongly aligned with AlphaPlus’ values, and we welcome this exciting opportunity to develop our work both in the UK and internationally.
John Winkley, AlphaPlus Director, said: “AlphaPlus is delighted to be joining the AQA group. Founded on our highly compatible cultures and shared commitment to helping learners succeed, we believe that AQA’s scale and capabilities will be complementary to AlphaPlus’ development and allow us to offer a broader and more integrated range of services to our customers.”
Colin Hughes, AQA’s Chief Executive, said: “AlphaPlus is a hugely trusted and respected team of assessment specialists who will bring a wealth of expertise and experience to AQA. AQA’s charitable purpose is to advance learning and teaching by providing the best possible educational assessment. AlphaPlus will greatly extend the range and scale of what we can offer, both in the UK and around the world. We’re making ambitious plans together for the future.”
International wealth and investment management group acquires South Yorkshire business
Kingswood, the international wealth and investment management group, has agreed to acquire, subject to completion, the business assets of DJ Cooke Financial Planning Limited, an independent financial planning business servicing clients across South Yorkshire.
David Lawrence, UK CEO at Kingswood, said: “I am delighted to welcome David and the team at DJ Cooke Financial Planning Limited into Kingswood. This is our first acquisition of 2022 and we continue to have a strong pipeline of high-quality UK opportunities under negotiation, five of which are in the exclusive due diligence stage.”
DJ Cooke Limited is a long-established independent financial advice firm specialising in retirement and investment planning. David Cooke, CEO, is the sole adviser looking after c.340 client households with around £70m AuA. On an underlying basis for the 12 month period up to the end of December 2021, D J Cooke Limited generated unaudited revenue of approximately £474k and unaudited EBITDA of approximately £227k.
David Cooke, CEO of DJ Cooke Financial Planning Limited, said: “I am very excited to join the Kingswood group. I feel they share my values, will provide excellent client service and equally importantly will offer continuity for my colleagues and clients. This will make client transition as smooth as possible and enable me to continue to oversee my clients’ best interests for the future.”
The deal is worth up to £1.5m. £749k will be paid at closing and the balance paid on a deferred basis, some of which is subject to the achievement of pre-agreed performance targets.
Community services charity acquires freehold offices
St Anne’s Community Services (St Anne’s), which provides multi-speciality care and support, including dedicated nursing, supported living, and support for the homeless, has acquired Fountain Court near Morley for an undisclosed sum in an off-market transaction.
The 17,796 square foot freehold offices were sold by Fox Lloyd Jones on behalf of the vendors, TP Orthodontics, who have leased back approx. 6,000 square feet, on part of the ground and first floors, for five years.
The remainder of the building will become the central hub for St Anne’s, having relocated from Leeds city centre.
Founded as a daytime shelter for homeless men in Leeds in 1971, the charity now supports over 1,600 adults across the North of England. Operating as a ‘not for profit’ organisation, St Anne’s reinvests every pound it earns back into the charity and the service it provides.
Speaking about the purchase, Clynton Hall, Chief Financial Officer at St Anne’s, said: “Fountain’s Court will provide us with a great location to support the delivery of our services across the North of England.
“We were presented with the opportunity to buy Fountain Court by Fox Lloyd Jones, which perfectly met our brief, including supporting service growth. Furthermore, it had the added benefit of us being able to let part of the building back to the previous owners, providing us with a rental income at the same time.”
Deborah Lindsay at TP Orthodontics added: “While we didn’t want to move out of Fountain Court, as it is perfect for our needs, we operated in less than a third of the building. We therefore asked Fox Lloyd Jones if they could find someone who would like to buy the building while, at the same time, allowing us to continue to operate from our existing offices.
“We were delighted when St Anne’s bought it, as they will be excellent neighbours and it will enable them to continue to provide a growing number of people with their invaluable care and help.”
Harry Finney, senior surveyor at Fox Lloyd Jones, concluded: “Fountain Court provided a rare freehold and part income-producing opportunity, with excellent access to motorway networks. We are delighted to have concluded the deal to St Anne’s Community Services while securing space in the building for our client, TP Orthodontics.”
York’s Quarterly Economic Update shows signs of positive recovery
City of York Council’s Quarterly Economic Update has highlighted a positive trend in the ongoing recovery across the city since October 2021.
Despite national economic challenges, business activity and consumer demand continues to be strong in York, with the city centre attracting 2.1m visitors between October and December. The Centre for Cities’ high streets recovery tracker shows that up till the end of November, York’s footfall index and spend index was the second and third highest of any city and large town in the UK.
The report also highlights that York’s economy is expected to continue to grow. Oxford Economics’ latest forecast suggests that York’s economy was one of the best performing in 2021, with its gross value added (GVA) estimated to have grown 9.8% year-on-year, with a further 6% growth expected in 2022.
The Council has continued to support businesses across the City during this period. In November, the Business Growth Voucher Scheme was launched, which allows local businesses to access up to £1,000 of expertise and support from other businesses across the city – not only helping those in receipt of the vouchers, but also generating income for other local businesses. The scheme has been a success, with 550 small and micro businesses applying for the scheme and over 140 York-based businesses being approved as suppliers.
York Business Week was also held to support ongoing recovery efforts. During the week over 600 delegates attended 35 events exploring current business aims and opportunities for growth.
Whilst the Omicron variant posed challenges to the business community as 2021 drew to a close, following local lobbying efforts, the Council now stands ready to offer additional financial support provided by the Government to support businesses impacted by the latest outbreak. The Council has launched the Omicron Hospitality and Leisure Grant and is preparing to launch another round of its Additional Restrictions Grants.
Collaborative work continues with the city’s rail sector as efforts to attract Great British Rail to York progresses, and interest in York as a place to do business remains high both in terms of businesses looking to locate to the city, and existing business looking to grow and expand locally.
Councillor Andrew Waller, Executive Member for Economy and Strategic Planning, said: “The overall positive picture of a strong recovery in York is a testament to the incredible resilience of local businesses and the work carried out by the council and key partners across the city.
“Whilst these positive trends are very encouraging and confirm the effectiveness of the work carried out in the past two years, this remains an uneasy and challenging time for many local businesses. That is why we are continuing in our efforts to provide support, opportunities and timely information to businesses across the city.”
Challenging times for business – but help is at hand
Is your business struggling with the effects of Brexit or Covid-19?
If so, help is at hand from the East Midlands Building Business Resilience Programme.
The three Growth Hubs covering Greater Lincolnshire and Rutland, Leicestershire, Derbyshire and Nottinghamshire have joined forces to offer a comprehensive package of tools, information, workshops, support and guidance.
The aim is to help businesses to navigate these challenging economic times and become more resilient.
The support is offered across three projects: EU Exit, Planning for Business Recovery (RESTART), and Coronavirus.
The EU Exit programme aims to help East Midlands businesses to deal with any challenges that result from Brexit and to capitalise upon opportunities that may result. The project offers up to 24 hours of briefings, seminars, workshops, networking and one-to-one support.
The RESTART project is a package of one-to-one business recovery and webinar and workshop support for businesses across the East Midlands focused on four areas: impact, support, recovery and plan.
The support is open to all businesses across the East Midlands that may have had to scale back or cease trading during the Covid-19 pandemic but are now looking to embark on business recovery.
The Covid-19 support project offers advice and guidance on specific pandemic support initiatives.
The East Midlands Building Business Resilience Programme is fully funded at no cost and is available to businesses of all sizes located in Greater Lincolnshire and Rutland, Derby, Derbyshire, Nottingham, Nottinghamshire, Leicester and Leicestershire.
To find out more visit https://business-resilience.uk/
One businesswoman who took advantage of the free support was Claire Ransom from Nottinghamshire, who runs the plant subscription service Lazy Flora.
The company was growing rapidly but the UK’s exit from the EU was a major headache, and Claire needed urgent advice and support.
“Our advisor was Andrea Collins, who gave us all the information we needed on how to get plants in and out of the UK. We were so lucky – she was just amazing! You’re never sure with these free consultations what you’re going to get out of it, but Andrea instantly got into the detail of our business and offered helpful solutions immediately.
“And all this really high-quality advice was completely free. Andrea probably gave us four or five hours of free consultation, including several one-to-one sessions over Zoom as this was during lockdown. She wrote lengthy emails and summaries which were completely tailored to our business and not just off the shelf.
“We don’t need her help so much now but we’re still in touch with Andrea, and if we needed her advice I wouldn’t hesitate to get in contact with her. Without her help we would have floundered and I’d definitely recommend her to anyone else who’s looking for help with international trade.”
Another business that benefited from the free service was Cast Iron Welding Services in Coalville, Leicestershire.
Marie Palmer said: “Andrea really did understand the business and was able to provide us with all the relevant advice regarding obtaining a European VAT number and dealing with the new VAT situation.
“Andrea and her colleagues worked really hard to try to tell us what the situation would be after 1st January, but there were still a lot of unknowns at that time.
“I’d definitely recommend the service. It took up quite a lot of our time but it was worth it. We were a business that was already trading internationally, so you’d like to think we were well placed to deal with Brexit, but we still needed support.”
Read more case studies here: https://business-resilience.uk/project/eu-exit-building-business-resilience/#successstories
Kinrise embarks on transformation of prize Leeds buildings
Property company Kinrise is embarking on a comprehensive refurbishment programme of its latest high-profile acquisition in Leeds, Trevelyan Square.
Kinrise has bought the freehold, 3.5 acre site in the heart of the city in a multi-million pound deal.
The creative office specialist will refurbish 1 Trevelyan Square, a seven-storey 53,688 sq ft building, and upgrade Ambler House, with 19,890 sq ft of office space behind a Grade II listed façade.
The Leeds office of property consultancy Knight Frank advised Kinrise on the freehold purchase of the site from a private investor.
The refurbishment will create much-needed Grade A office space for Leeds.
George Aberdeen, co-founder of Kinrise, said: “We are delighted to announce the comprehensive refurbishment of these properties, following on from the transformation of nearby 34 Boar Lane into a leading workspace with three restaurants.
“We are committed to upgrading and enhancing 3.5 acres of Leeds city centre, including the public space at Trevelyan Square for everyone to enjoy. Visitors and tenants will also benefit from the site’s mature trees and greenery, quite rare and much needed in Leeds city centre.
“The success of 34 Boar Lane has encouraged us to expand our footprint in Leeds, one of the most dynamic and commercially successful cities in the whole of the UK. Once the transformation of Trevelyan Square is complete, we are very confident of attracting more first-class occupiers to the city.”
Graham Foxton, a partner with Knight Frank, who handled this high-profile deal, said: “We are delighted to have acted on this very important acquisition, which will be of significant benefit to the city of Leeds. 1-3 Trevelyan Square is a large and important piece of the city centre and our clients’ ambitions are clear. Kinrise has already transformed 34 Boar Lane into one of the most exciting workplaces in the city and we can expect more of the same at Trevelyan Square.”
Eamon Fox, partner and head of office agency with Knight Frank in Leeds, who will be marketing the offices, added: “This investment by Kinrise is a huge boost to the Leeds office market, which is now entering a most exciting phase with more Grade A office space emerging at last. These magnificent buildings are bound to prove popular with new occupiers.
“Our future offices must break the mould of the past two decades. If organisations want to attract the best and keep their workforce, they need to create spaces that their staff will want to work in. Kinrise is leading the way in Leeds.
“The newest generation of workers expect their office to be an inspiring and enjoyable place to work. Historically the preserve of technology and media firms, the new ideal office building combines flexible floorplates with collaborative spaces and individual work areas, as well as providing amenities that encourage people to think of work as an extension of home. This is what 1-3 Trevelyan Square is going to offer.”
Investor confidence in financial services increases across Yorkshire and the Humber
EY’s latest UK attractiveness survey shows that inward investment into financial services in the North of England varies significantly across the region.
In Yorkshire and the Humber, the number of global financial services investors planning to establish or extend operations within the region in 2022 has risen, increasing from 4% in spring 2021 to 5.1% in the latest survey, carried out in November 2021.
This follows the UK-wide trend, which suggests planned investment into financial services rose significantly over the course of 2021, increasing from 50% in April 2021 and picking up considerably on the low of 11% recorded in 2019 before the onset of the pandemic.
Looking at the UK as a whole, almost 90% of global financial services investors surveyed said they plan to establish or expand operations in the UK in 2022, representing the highest level of confidence since EY started attractiveness analysis.
In contrast to this, the North East and the North West have both seen a decline in global investor sentiment towards establishing or expanding financial services operations. According to the survey, in the North East, sentiment has fallen from 6% to 2.4%, and in the North West it has fallen from 8% to 0%.
Financial services firms constantly review their operating models and strategies, but the COVID-19 pandemic has forced a wholesale reassessment of virtually every aspect of a company’s business, including its investment plans. Forty-one per cent of global financial services firms surveyed in November 2021 said that the pandemic has meant they are planning to increase their investment in the UK, with 8% planning a substantial increase. This is markedly higher than in the spring of 2021 when only 6% said they were planning on raising their UK investment level.
In addition, 90% of global financial services investors now think the UK will retain the same level of attractiveness or improve over the next three years, up from 75% in spring 2021 and 50% in spring 2020.
Steve Robb, North Financial Services Managing Partner at EY, says: “It’s encouraging that an increased proportion of global financial services firms are currently looking to grow their business in Yorkshire and the Humber. This is testament to the growth of financial services in the region and its position as a leading UK centre for banking.
“Although it is disappointing to see the North East and North West lose financial services investor confidence, over recent years both regions have materially developed their digital infrastructure and connectivity to support such investment. This is the foundation from which they will grow their attractiveness. As the North continues to recover from the pandemic, the expectation is that inward financial services investment will once again pick up.”
ESG a priority for investors, with large majority saying the UK offers the right environment
More than half (59%) of global financial services firms surveyed by EY said ESG was either the top priority or within the top three priorities of their board’s investment strategy, and only 3% claimed ESG was not on their priority list at all. Furthermore, 87% of respondents said the UK offers the right environment for ESG investment.
A country’s success in addressing the pandemic is key for investors deciding where to invest
Over half (54%) of global financial services firms surveyed said a country’s success in addressing the pandemic is currently the most important factor influencing investment location. Other key priorities for investors are the safety and security measures put in place to prevent a future major crisis, whether that be a health, environmental or cyber crisis, (38%) and the liquidity of capital markets and availability of capital (33%).
Investors also want to see the UK government prioritise ‘levelling up’
Confidence in London as the chief location for new financial services investment into the UK remains, with 54% of global firms surveyed citing the capital as the most attractive UK region in which to establish or expand financial services operations – up from 31% in the spring of 2021. Scotland, perceived as the second most attractive region for financial services investment alongside the East of England, was down slightly with 13%, a decline from 15% in spring last year.
When looking at what the UK government needs to do to further improve the UK’s attractiveness, global financial services investors suggest prioritising geographic rebalancing of the UK economy by ‘levelling up’ (54%). This is followed by improving the skills levels of the UK workforce (28%), reducing corporate taxation levels (21%) and allocating investment that will accelerate the UK’s move towards reaching Net Zero (18%).
When considering investing regionally, outside of the capital, investors are looking for improvements in the strength of business networks (64%), better access to regional grants and incentives for investment/ R&D (46%) and more availability of business partners and suppliers (41%).
The digital economy remains an important driver of UK growth post-pandemic
Given the changes brought about by COVID-19, and the almost overnight move to remote working at the beginning of the pandemic, it is unsurprising that inward investors think the digital economy remains a key driver of UK growth. However, for FS investors, it has slipped from the top spot in April 2021 (cited by 54% of investors) to second place, cited by 51% of respondents in November 2021. Business / professional services is now seen as the primary growth driver, cited by 54% of investors, with financial services remaining in third place, cited by 41%.
Steve Robb concludes: “The UK has been the top European location – and London unsurprisingly the top European city – for foreign direct investment for over twenty years. As the levelling up agenda ramps up, the UK’s regional hubs should increasingly support the deeply-established City of London, and start to benefit more from inward investment.
“While confidence levels have fluctuated in the North, this latest investor sentiment survey shows that amid economic downturn and recovery, investors are reassured by the maturity and stability of the UK market.
“In order for the UK market – with the North a key player – to continue its upward trajectory and further extend its attractiveness, it needs to continue broadening its service offerings around ESG, driving progress towards Net Zero, improving the skills levels of the UK workforce and demonstrate progress in the ‘levelling up’ agenda, so that more regions in the country benefit from what could be a boom in foreign investment and growth opportunities.”
Panmure Gordon opens new north of England office in Leeds
UK investment bank commits to strong regional presence
Panmure Gordon has opened a new office in Leeds to provide investment banking services to high-growth potential companies and institutional clients across the North of England. The UK investment bank has appointed managing director Simon J French as head of office. He will be supported by newly appointed senior advisor Stuart Watson, formerly a managing partner at accountancy firm EY and head of its Entrepreneur of the Year programme in the UK.
The new office is at Northspring | Park Row, a prime address in central Leeds.
Panmure Gordon delivers a full range of investment banking services including corporate advisory, mergers and acquisitions, initial public offerings, private capital solutions, research, sales and marketing, investment funds and market making. It is led by chief executive Rich Ricci, former CEO of Barclays corporate and investment bank, and owned by Atlas Merchant Capital, the specialist investor founded by Bob Diamond, former CEO of Barclays. Non-executive directors include James Lambert, the award-winning Yorkshire entrepreneur.
Panmure Gordon specialises in helping fast-growing corporate and institutional clients to achieve their ambitions. Recent activities include acting as joint broker and book-runner on Urban Logistics REIT plc’s £250m share issue; nominated advisor, joint broker and book-runner on sustainable fuels technology company Velocys plc’s £25m placing; nomad and joint book-runner on the £350m IPO of Life Science REIT plc; nomad, broker and sole book-runner on the £30m IPO of Marks Electrical Group and nomad and sole broker on the £9m IPO of clean power tech firm Libertine.
Simon J French, head of office and managing director, private capital solutions, (investment banking division) said: “We have opened our new office in the North of England because we want to be close to our clients and we believe in building strong, long-term relationships at a local level. There is huge appetite for growth capital and with our expertise, experience and networks in the public and private markets, we are extremely well placed to provide market-leading investment banking services to high-growth potential companies and institutional clients across the North of England.”
Rich Ricci, chief executive, said: “Panmure Gordon fully understands the power of having a regional presence and is committed to all corners of the wider northern region from our new base in Leeds. We are bullish about the North of England and its many entrepreneurs and enterprises and we look forward to supporting the success of companies and clients of all shapes and sizes with our extensive advisory and capital-raising capabilities.
“We are delighted to welcome Stuart Watson to our investment bank. As one of the region’s most trusted advisors, he has an outstanding track record in helping mid-market listed, private equity-backed and private companies to achieve their growth ambitions.”
Panmure Gordon has invested significantly in expanding its services under its new senior management team and committed long-term shareholders. It employs 25 research analysts covering 270 companies and trusts with sector expertise in consumer and leisure, financial services, healthcare, digital, media and technology, real estate, support services, new energy and clean tech, investment funds and natural resources.
Northspring | Park Row in Leeds has been fully refurbished to provide premium workspace alongside luxury amenities, including business lounge, fitness suite and roof terrace, and will launch this spring.
