East Midlands accountancy firm forges link with London-based private equity business

East Midlands accountancy, business advice and wealth management business Duncan & Toplis is accelerating its growth plans through external investment from private equity firm Blixt Group. Blixt is a pan-European private equity firm headquartered in London, with access to over €250 million of committed long-term institutional investor funding. An experienced investor in professional services, Blixt is committed to the UK accounting, wealth management and legal services sectors. Blixt focuses on growth-oriented businesses, helping its partners to build leading businesses. At the heart of the Duncan & Toplis growth strategy is the continued investment in its team, the expansion of its service proposition and the leveraging of technology to unlock new opportunities for the business’ team members, clients and communities. This will be complemented by acquisitive growth. Adrian Reynolds, MD at Duncan & Toplis said: “The core of our culture is based on doing right by our people, our communities and our clients and this will remain so. “Over almost a century, Duncan & Toplis has been a trusted partner to generations of people, businesses and communities and we’re always working to have a greater positive impact. Our new growth strategy will start the next 100 years as we mean to go on, accelerating our progress and protecting that which makes our business special, while taking it to the next level. “Blixt is an ideal partner for us because they share our focus on culture and growth for the right reasons. They also bring incredible expertise in strategic thinking, supporting us in the direction we want to travel in, helping us further along the path and accelerating our progress. “Fundamentally, their support means that in the next few years, we can achieve what we would have hoped to achieve in 10+ years, and that’s very exciting.” Carl Harring, CEO at Blixt said: “We have been impressed by the quality, track record and ambition of Duncan & Toplis, and its exemplary commitment to both its people and its clients. We really look forward to partnering with the team at Duncan & Toplis and other like-minded accounting firms to help accelerate growth.” Duncan & Toplis group was founded in 1925 in Nottingham before it relocated to Grantham and expanded across the East Midlands. It provides businesses and individuals with a range of services including accountancy, audit and assurance, tax and business advice, wealth management, legal services, payroll, marketing, HR, and international business services. All Duncan & Toplis board members, directors and team members will remain in their existing roles, with Adrian Reynolds continuing as managing director of Duncan & Toplis and Andy Severn as managing director of wealth management business Castlegate which is part of the Duncan & Toplis group. The agreement with Blixt is subject to regulatory approvals and is due to complete in Autumn 2023. Once approved, this investment will commence the most ambitious period of growth and expansion in the nearly 100 year history of Duncan & Toplis.

Chamber CEO to champion South Yorkshire in national skills debate

Doncaster Chamber Chief Exec Dan Fell will be part of a panel discussion about skills this week when the Northern Research Group returns to the city bringing together Government Ministers,MPs and influential business leaders For the second year in a row, the NRG will meet at the city’s famous racecourse. The group’s annual conference, launched last year, is a forum for sharing insights and generating ideas that will ultimately contribute to northern prosperity. For the 2023 event, many of the confirmed delegates are high-profile speakers from the government, such as the Under-Secretary of State for Levelling Up, Dehenna Davison MP, and former Chancellor of the Exchequer, George Osborne. Mr Fell said: “We constantly hear from businesses about what they deem to be their greatest challenges and, across all different sectors, no single issue rears its head more often than that of skills. “Many local employers are finding it difficult to fill their outstanding vacancies and to attract the talent they need in order to grow, innovate and thrive. Meanwhile, a lot of South Yorkshire’s residents are simply not equipped with the skills they need to make themselves viable candidates for the best jobs available in the region. “While this is certainly a problem that we —   as a voice for business —   want to get on top of, there is a danger that we get too dispirited here and overlook all of the amazing programmes, institutions, and education providers in our region that are already delivering excellent skills activities. Indeed, the situation is not as bleak as we sometimes imagine it to be, and there are a lot of great things happening right on our doorstep in South Yorkshire. “For example, we have the Advanced Manufacturing Research Centre (AMRC). A world-class partnership between the University of Sheffield and various heavyweight companies — like Rolls Royce, Boeing and McLaren — this institution is creating plenty of opportunities and opening doors for those who want to get into the manufacturing industry. “Elsewhere, South Yorkshire is home to three brilliant University Technical Colleges (UTCs), the newest of which is over-subscribed twofold, owing to high demand for its excellent provision and well-established employer relationships. Not to mention, the rest of our region’s further education colleges are ranked Ofsted good or better as well. “In addition to boasting these exemplary providers, South Yorkshire has also negotiated an Adult Education Budget that — when coupled with our upcoming Local Skills Improvement Plan — will enable more agile and innovative skills commissioning. “In short, although it cannot be ignored that there are major skills-related challenges, both here and across the UK in general, we have some great practice and innovative solutions in South Yorkshire that should be acknowledged. “I am greatly looking forward to highlighting these at the Northern Research Group conference, to discussing how they can be built upon and replicated elsewhere, and to injecting a little more positivity into the skills debate.”

Leeds’ Globe Point almost fully let as fifth new tenant secured

CEG has secured a fifth tenant to the Globe Point development in Leeds in a matter of weeks. Specialist Computer Centres (SCC), part of the global Rigby Group headed up by Sir Peter Rigby, will move to the striking flat iron design building next month. Relocating from Wellington Place, SCC was attracted by Globe Point’s ESG credentials, location and design. Liam O’Keeffe, Rigby Group’s asset manager, said: “SCC has invested significantly in the occupational Real Estate portfolio in the last few years, following the refurbishment of the Global Head Quarters in Birmingham, the relocation of the London City office and the new Bracknell office, to name a few. Globe Point, Leeds is the latest in a series of exciting commitments by SCC, built upon the continued success and growth of its Northwest commercial business. “The South Bank area of Leeds has been utterly transformed over recent years. The Globe Point development, part of the wider Temple Masterplan, has phenomenal environmental credentials, a fantastic contemporary design and is only minutes from Leeds Train Station. Globe Point has provided another progressive acquisition for SCC.” The company joins global legal practice Reed Smith, which announced its relocation to the site this month, brand design agency Robot Foods, marketing and data science company Jaywing, and Butlers, which runs the 65-cover ground floor café bar. As a result, only 17,434 sq ft remains at the 40,430 sq ft seven-storey office development. Once fully occupied, the building will be home to more than 800 people. Knight Frank and Fox Lloyd Jones are marketing the building on behalf of CEG. Eamon Fox, partner and head of office agency at Knight Frank in Leeds agreed the deal with SCC. He said: “Yet again we have another tenant’s flight to quality. Globe Point is the result of focused design, innovation, appealingly dominate features, truthful expression, thorough to the last detail, and environmentally friendly. Design which understands our audience in Leeds for workspace, and which was clearly visible to SCC. “One of the highest specification offices on the market, Globe Point is now home to a diverse range of occupiers, from a global legal company to a pan European technology business.”

Olivia McDowell, investment manager at CEG, said: “It is fantastic to see SCC join the thriving business community within Globe Point. As a company with a wide range of public and private sector clients, the location, as well as the quality and design of the space appealed. Globe Point has fast become a success story delivering a new benchmark for the Temple district.”

ABP invests £1.5m to digitise asset management throughout the company

Associated British Ports has invested £1.5m a a project to digitalise asset management across its network of 21 ports, providing a mobile solution that will enhance the reliability and sustainability of port operations. ABP says an investment of this size reaffirms its role as a pioneer in driving digitalisation in the UK ports sector. In collaboration with Mainsaver and Spidex, this wider rollout follows a successful pilot of the new technology, undertaken at ports including Immingham and Hull. Working with ABP employees in roles which interact with Mainsaver Connect maintenance management application software, the trial ensured that both large and small ports were considered to fully test the practicalities of implementing and allocating work in a digital manner. The deployment of the product, Mainsaver Connect, is a mobile derivative of the Mainsaver Computerised Maintenance Management System (CMMS), a US product which is supported by Spidex, a UK based developer and affiliated support arm. Mike McCartain, ABP’s Group Director of Safety, Engineering & Marine, said: “Going digital with our asset management is an important step in building the sustainable Ports of the Future, where information is shared accurately and instantaneously, so that we can make well-informed decisions, spot trends and optimise the safety and sustainability of our operations.” The mobile device rollout, which begins this week, will include the deployment of hundreds of tablets and focussed training sessions for engineers across ABP’s regions, which will aim to equip them with the skills and knowledge to work optimally and maximise the benefits they get from using the technology. Taking place in parallel across ABP’s business regions of the Humber, Southampton and Wales and Short Sea Ports, the rollout will be delivered via a team approach, headed up by a lead ABP representative in each region. Nicole Geraghty, ABP Port Planner (Maintenance), said: “I really look forward to working with this powerful new tool. It’s helpful that it will provide access to ‘real time’ information, saving our engineering teams time and ultimately keeping being able to make informed decisions based on accurate information.’” “It is an exciting time at ABP as we see investments not only in digitalisation but also in upskilling our people and electrifying plant, cranes, vehicles as part of our ambition to make port operations more sustainable. I am thoroughly enjoying being part of ABP during this new phase.”

Site remediation paves way for new residential development in Huddersfield

Urban Group (York) Ltd has won a significant contract from Yorkshire Housing to deliver 22 new homes in Newsome, Huddersfield. The site, off Hart Street, sits by a former mill. Urban Group is currently carrying out the remediation phase of the project prior to commencing infrastructure works on the development. The scheme comprises a mix of two and three-bed semi-detached affordable homes, as well as associated landscaping, access, roads, and sewer installation. The development will complete in spring 2024. Rick Long, head of Housing (Construction) at Urban Group, said: “The team is delighted to be working with Yorkshire Housing on this exciting development. “The initial phase of the development has proved to be challenging. Prior to commencing works on site, a flock of ducks had taken up residence on the former mill ponds, and a small number of fish had also found their way into the ponds. The ducks were given time to leave the ponds of their own volition, whilst the fish were humanely re-located prior to the ponds being drained. “We worked closely with Yorkshire Housing and architects, Brewster Bye, during the planning process and look forward to delivering a successful and high-quality development which will help to address the shortage of affordable housing within easy reach of Huddersfield town centre.” Anthony Askew, development manager at Yorkshire Housing, said: “We’re delighted to be working with Urban Group (York) and Brewster Bye, and that this project is now underway. “When complete, this site will provide over 20 families with high-quality affordable homes and brings us closer towards our plans of delivering 8,000 new homes over the next few years.”

Government plans to simplify employee share schemes to boost business growth

Schemes offering people shares in their employer are set for a shake up as the government explores changes that will help boost business growth, supporting the Prime Minister’s priority to grow the economy. In a new call for evidence the government wants to hear views on Save As You Earn and the Share Incentive Plan as it seeks to improve the schemes and expand their use by making it easier for businesses to set them up and offer them to staff. This comes as an HMRC evaluation report shows that 81% of businesses say these schemes help boost their business, with almost three quarters of these saying it has helped them retain and recruit staff. 31% of businesses which are unaware of these schemes say they are too complicated to set up. Victoria Atkins, Financial Secretary to the Treasury, said: `”Employee share schemes are an effective way to boost motivation in workforces by giving people an extra stake in what they do – and they offer a boost for business. Growing the economy is a priority for this government and one way to make this happen is by making these schemes as easy as possible to set up.” The two schemes up for review are:
  • Save As You Earn (SAYE): this allows employees to buy discounted shares in their company if they save money each month for three to five years.
  • Share Incentive Plan (SIP): this allows companies to help their employees to purchase shares directly in their company or offer them as tax-free awards.
HMRC says 50% of companies which have set up a share scheme have done so to create a feeling of ownership among their staff, with other common reasons being to help retain staff and skilled employees, attract skilled employees and improve staff morale. The call for evidence comes after venture capital firm Index Ventures praised government reforms to a separate scheme, the Company Share Option Plan, placing the UK as joint top among G7 countries in share option policy. These reforms saw a doubling of the amount of share options employees can be granted and removed restrictions on which kind of shares could be included. Index said the moves the government took were “helping scale ups attract and retain the talent they need”. The government is looking to replicate this success through similar reforms for SAYE and SIP and is particularly interested in understanding whether the schemes are attractive to lower income earners.

Hull company described as ‘fantastic’ after rebuilding historic suspension bridge

Hull-based Spencer Group has been hailed as ‘fantastic’ for its work to completely refurbish and rebuild the Union Chain Bridge linking England and Scotland – one of the world’s oldest suspension bridges. The bridge crosses the River Tweed from Horncliffe in Northumberland to Fishwick in Berwickshire has a single span of 449ft (137m) and was the longest wrought iron suspension bridge in the world when it opened in 1820. Ted Cawthorne, Honorary Treasurer of the Friends of the Union Chain Bridge, which was formed in 2014 and has more than 700 members, said: “It’s been an incredible job by Spencer Group and we’re absolutely delighted to have the bridge back. It’s a vital link between the communities on either side. “The bridge is an important part of the local scene, so we’re very pleased to have it back fully installed and in use again. “It looks wonderful and even more elegant than it did before. There are some differences that have been made during the restoration, with some necessary modern interventions, but that’s just a sign of this remarkable bridge moving with the times. “It’s a terrific achievement and it means a great deal to us to have it restored and fit for use for another 150-200 years. “The remarkable thing is that many of the original components are still intact, which means they will be  up to 400 years old by the time it might need another restoration.” Union Chain Bridge, which is both a Grade I listed building in England and a Grade A listed building in Scotland, is credited with being a catalyst for bridge innovation. It influenced the design of many other famous structures and remains the world’s oldest suspension bridge still carrying traffic. A funding bid was submitted to the National Lottery Heritage Fund (NLHF) by Northumberland County Council, Scottish Borders Council, Museums Northumberland and community group the Friends of the Union Chain Bridge, amid concerns about the condition of the bridge. Spencer Group worked closely with the Friends of the Union Chain Bridge, along with other community groups, the two councils and Museums Northumberland to keep them informed and updated throughout the delivery of the project. Mr Cawthorne added: “Spencer Group have been fantastic and have engaged with us every step of the way. We couldn’t have asked for more. “It’s been a privilege to have them in the community and working with us. They’ve been marvellous and they’ve really integrated into the community. The team has been very approachable and all of them have been very friendly as well.”

Team17 names new CEO

Yorkshire-based video games label Team17 has appointed Steve Bell as Chief Executive Officer. Steve will join the Board on 4 September 2023 as Group Chief Executive Officer Designate, formally assuming the role of Group Chief Executive Officer from 1 January 2024. Debbie Bestwick MBE will continue in the role of Group Chief Executive Officer until 31 December 2023, working closely with Steve in the initial months of his appointment to ensure a smooth transition and hand over and will then join the Board as a Non-Executive Director on 1 January 2024. Steve joins from Iris Worldwide Holdings Limited, a global integrated marketing agency specialising in brand and digital marketing strategy, which he co-founded in 1999. Steve has amassed extensive digital marketing expertise, having held senior leadership roles since co-founding Iris in 1999, including the role of Global Group Chief Executive since 2021. Managing over 1,000 employees in 14 offices around the world, Steve has overseen Iris’ work with some of the biggest, most creatively driven and technologically advanced global brands and has been instrumental in developing and delivering Iris’ commercial and M&A strategies. Prior to co-founding Iris, Steve worked for the advertising and retail agency Arc Worldwide, spending over five years working across a number of high-profile integrated accounts. Chris Bell, Non-Executive Group Chair, said: “We are delighted to have attracted a candidate of Steve’s calibre to Team17. Having worked with some of the world’s leading brands, Steve brings a wealth of commercial and digital marketing experience to Team17, and we look forward to leveraging this expertise as Team17 moves forward to its next stage of growth.” Debbie Bestwick MBE, Group Chief Executive Officer, said: “As a Board, we have run a rigorous process to find a new Group Chief Executive and we are delighted to announce Steve as my successor. “Steve’s experience as a co-founder of a people-centric business means he understands the importance of our vibrant and inclusive company culture which remains the cornerstone of everything we do across the Group. “I look forward to working with Steve through the handover process, and to supporting him and the broader team thereafter in my role as a Non-Executive Director.” Steve Bell, Group Chief Executive Officer Designate, said: “I am thrilled to be joining Team17. The company has an incredible track record and I’m excited to help build on the Group’s strong foundations to continue its impressive growth trajectory. “I look forward to working closely with the Board, Mark (CFO), Michael, Julia, Tim and Emmet – the Group’s divisional CEO’s and their broader teams to bring even more compelling games and apps to players, alongside driving further momentum by supporting the Group’s successful organic and acquisitive growth strategy.”

Aceso names new risk account handler at Leeds office

Growing employee benefits provider Aceso Health and Group Risk has made a new appointment in its group risk division, based at the firm’s Leeds HQ. Carole Lennon joins Aceso as a group risk account handler and has more than 20 years’ experience in the financial services industry. Aceso group risk director Paul Collin said: “I’m really excited to welcome Carole to our team and the whole Aceso and Attis family. As always, we continue to focus on building a team that reflects our fresh approach and innovative customer-focused ethos.” He added: “Group risk is something that increasing numbers of employers are looking to provide, to protect both employees and their business. It covers death in service, as well as helping with costs involved if someone if severely ill or off work sick for a long period. “With the current problems that all sectors are experiencing in terms of recruitment and retaining valued and skilled talent, these kind of benefits are becoming more relevant than ever for employers and can make a huge difference to employees.” Aceso has grown from two employees in 2020 to a team of nine, with further hires planned over the coming months.

Administrators appointed to Lincolnshire food manufacturer

Lincolnshire food manufacturing business Plant and Bean Limited (P&B) has fallen into administration.

Founded in 2019 and based in Boston, P&B operates in the alternative protein sector, manufacturing for the likes of Quorn, Princes, and Wicked Kitchen.

Like several other businesses across the sector, P&B experienced significant inflation across its cost base, primarily increases in food and energy prices. The business also suffered from several operational issues which resulted in periodic interruptions to production.

Following the appointment of James Clark and Howard Smith from Interpath Advisory as joint administrators on 31 May 2023, the company is carrying out limited trading while the administrators explore options for a sale of the business and its assets. The administrators have retained approximately 25 employees to assist them with ongoing activities.

James Clark, Managing Director at Interpath Advisory and joint administrator, said: “Businesses across the food and drink sector, and especially those in highly competitive sub-sectors such as alternative protein, are facing immense pressures at the moment, with rising costs impacting profitability.”

He added: “Over the coming days, we will be working with key stakeholders to explore the possibility of a sale of the business.”