YFM completes £5m investment into text analytics company
Relative Insight, a fast-growing text analytics platform with an office in Lancaster, plans to expand its operations in the US and strengthen new product development following a £5m growth capital investment by Leeds-headquartered YFM Equity Partners (YFM) through its managed British Smaller Companies VCTs.
The volume of text data such as surveys, reviews, social, customer experience (CX) and voice of the customer (VoC) is exploding and can give crucial insights to decision makers if analysed quickly and easily.
Customers upload data to the Relative Insight platform and the AI-based text analysis techniques highlight critical differences in consumer language to drive deeper insights into digital marketing, consumer analytics and customer experience. With its origins in law enforcement, the Relative Insight technology has been designed to provide the fastest possible time to critical insight and action for market trends, customer service issues, product opinions and marketing campaign effectiveness.
With offices in London, New York and Lancaster, Relative Insight has a growing international client list including leading global companies such as Sky, Nespresso, Starbucks, General Mills, MetLife and Sony.
The investment from YFM will enable Relative Insight to further grow its customer base as well as continuing to develop the platform to provide greater customer insights and data integrations for its clients.
Ben Hookway, CEO of Relative Insight commented: “With an ever-increasing amount of data available to businesses, many are struggling to make sense of this valuable information. This can prove vital in understanding what is causing business outcomes, and what can be done to change them. Our platform is able to rapidly analyse millions of words and compare them across a range of variables to highlight the critical differences in consumer language, helping to explain market trends, customer behaviour and provide actionable insight including making communication more effective with target audiences.
“Having seen rapid growth over the last four years, the business is now embarking on the next stage of its journey as we expand in the US. We believe that YFM is the ideal partner to support us. As well as having an established track record scaling SaaS businesses, they have a real understanding of our market and are a great fit culturally – we like the team and are confident they will add real value.”
YFM has a growing national portfolio of software and tech businesses, including data transformation software company Matillion and innovation intelligence provider Vypr.
Dan Freed, partner at YFM, added: “Data and text analytics is a rapidly expanding market and one with huge potential given the ever-increasing demand for improved business intelligence, and customer insights. The Relative Insight platform is a compelling proposition helping companies to understand why things happen. The heritage of the business resonates with us, and we believe it is a best-in-class platform led by an experienced and very impressive management team.”
The YFM team comprised Dan Freed, Laura Sisson and Ian Waterfield.
Eddie Harding, Partner at ICON Corporate Finance, said: “We’re delighted to have advised Ben and the team on this transaction and were not surprised by the strong level of interest we received from investors. Relative Insight’s highly innovative AI-based text analytics software generates significant value for its clients, and the company is now at a very exciting stage in its growth plan. This funding from YFM will help Relative Insight to scale up its operations considerably, and in particular in the US where there is significant market potential.”
Securefast acquired by OSL Group
Sheffield-based manufacturer OSL Group has acquired security firm Securefast PLC.
The acquisition takes the number of businesses within the OSL Group to five and further widens the company’s range of products and services, which span the engineering, rail, automotive, and security industries.
Securefast offers a range of locking solutions, including fire and security products under their leading brands Deedlock and Entra. The company provides a complete technical support service with qualified engineers offering specification and scheduling services as standard.
Securefast will continue to trade under its current name but will now become part of the OSL Group, which includes firms such as Cutting Technologies, CQR and Owen Springs.
Mathew Grey, CEO at OSL Group, said: “We are delighted that Securefast has joined the Group. The acquisition broadens out our security proposition, taking us deeper into access control, enabling us to support our global distribution partners and ultimately our end users.
“The Securefast management team share our passion for developing products that deliver value to our customers and I look forward to taking the new offering to market.”
Managing Director at Securefast, Duncan Crawley, said: “It became apparent that we needed a larger partner to help us grow and achieve our future goals, so when OSL Group made the approach, it seemed like an ideal opportunity to take the business forward.
“Becoming part of the OSL Group has many benefits, such as enabling us to build a bigger, more progressive security locking and access control company within the security market.
“A key benefit for Securefast is being able to take advantage of the Group’s established export operation, allowing us fast-tracked access to clients worldwide.”
OSL has three divisions operating in the automotive aftermarket, power tool and security channels. Through acquisition and organic investment, it has broadened its product and service offering to its customer base.
OSL employ over 200 staff globally, with turnover for this year expected to surpass £40m.
Half a billion unlocked for South Yorkshire Renewal Fund
The Mayor of South Yorkshire, Dan Jarvis, has announced a fund worth half a billion pounds to be used on making improvements in the region’s four local authority areas.
The South Yorkshire Renewal fund will be invested in place-based projects across infrastructure, housing, community renewal, net zero, business growth, skills and employment and transport.
Mayor Dan Jarvis said: “I am delighted to have secured the South Yorkshire Renewal Fund during my last MCA meeting as the Mayor of South Yorkshire, equipping the incoming mayor and local leaders with the tools to unlock our region’s potential.
“It will allow the MCA to continue making much needed improvements to transport and infrastructure, regenerating our places as well as improving opportunities for people by supporting the creation of hundreds of highly skilled and green jobs.
“It has been my mission as Mayor to create a stronger, greener and fairer South Yorkshire for all of us and together we have implemented great things to achieve this. We have already attracted a host of new, exciting businesses to invest in our region, and South Yorkshire is fast becoming a hub of Advanced Manufacturing and green technology.
“I’d like to thank local leaders and my team at the Combined Authority for all of the incredibly hard work dedicated over the past four years, enabling us to unlock and invest vital funding to benefit the whole region.
“I look forward to seeing the South Yorkshire Mayoral Combined Authority move forward, continuing this important work backed up by the huge investment that the South Yorkshire Renewal Fund brings.”
Rotherham business urged to apply for Covid-19 rate relief
Businesses which have suffered a negative financial impact due to the COVID-19 pandemic have until the end of April to apply for Business Rates Relief.
The scheme, which is offering a total of £4.8m of funding to businesses across the borough, is being administered by Rotherham Council.
Businesses that have suffered a negative financial impact from the Covid-19 pandemic during the 2021/22 financial year can now apply for business rates relief. Applicants will be able to apply for rates relief of 50%, up to a maximum of £6,000, until the application window closes on 30 April 2022.
All claims will be assessed after this date, when the total award will be reviewed and applied. Dependent upon the number of successful claims received, the relief award could be increased above the current maximum of £6,000.
The Council scheme will follow Government criteria for the awarding of grants, which states that the Council must:
- not award relief to ratepayers who for the same period are or would have been eligible for the Extended Retail Discount (covering Retail, Hospitality and Leisure), or the Nursery Discount.
- not award relief to a business premise for a period when it is unoccupied (other than hereditaments which have become closed temporarily due to the government’s advice on COVID-19, which should be treated as occupied for the purposes of this relief), and
- direct their support towards ratepayers who have been adversely affected by the pandemic and have been unable to adequately adapt to that impact.
- Public sector organisations
- Banks
- Utilities
- Advertising Units
- Petrol Stations
- Sports Facilities and Grounds
Council listens to business views about changes in Louth
The views of businesses and residents around Mercer Row in Louth have led Lincolnshire County Council to review elements of its active travel plan.
Barriers and planters currently in Mercer Row will be removed and planters will be used to close off access to Cornmarket, denoting the newly-pedestrianised area. The changes will also be made to best suit the aesthetic of the historic Louth area and will be implemented next week, says the council.
Cllr Richard Davies, executive member for highways, said: “We’ve listened to what concerns businesses have expressed to us at the start of the scheme and we’re going to make changes in the appropriate way.
“Quite simply, we need to ensure that what we do fits in with the beautiful town that Louth is. In the first steps of this plan going live, we’ve not got that quite right and we’re sorry for the confusion that this has led to.
“As with every step of this experimental scheme, we’ve taken notice of feedback and by doing so we’re ready to make changes where appropriate.
“These will mean removing some of the unsightly barriers and replacing them with planters and ensuring signage meets requirements but doesn’t interfere with the needs of businesses in the immediate area.
“This scheme will be in place for 18 months and during that time residents and businesses will be able to submit feedback. If at the end of this period Louth decides that it doesn’t want the Active Travel plan then we can easily remove it.”
Next stage of The Brighouse Deal underway as professional team appointed to develop the projects
The Brighouse Deal has taken another step forward as Calderdale Council and The Brighouse Town Deal Board appoint the professional team to deliver the next stage of developing the projects to be funded by the £19 million investment.
Global professional services company Turner & Townsend, which is headquartered in Leeds, won a competitive tender to develop the full businesses cases for the projects – creating a town that is welcoming for all, with a canal that connects, shops and events that put us on the map, a market we can be even more proud of and opportunities for everyone in an economy that generates sustainable growth.
Their team, which includes architects, engineers, quantity surveyors, planners and project managers, will now work with the Town Deal Board and the Council to turn the vision, already put forward and approved by government, into costed and designed projects that will help write the next chapter in the story of Brighouse.
The business cases need to be submitted back to government by the summer. They will then consider these and, it is hoped, give the green light to unlocking the funding which will allow us to appoint the contractors and find the partners who will actually deliver the schemes and make a difference to the town.
Cllr Sophie Whittaker, co-chair of The Brighouse Town Deal Board, said: “We know this is a long process, but this is a significant step forward and we can’t wait to see the plans which Turner & Townsend will put forward in the coming months.
“As they work on developing these, you will see some activity across Brighouse so look out for fluorescent jackets and people with bits of equipment checking out sites and mapping parts of the town. This is part of that initial scoping work ahead of the projects themselves being planned and delivered in the years ahead.
“We will also be asking residents, retailers, businesses and community groups to get involved in the planning stages in the weeks ahead to ensure you can have your say and we will have more details on that very soon.”
Peter Foy, director at Turner & Townsend, said: “The Brighouse Town Investment Plan represents the kind of bold vision required to transform the area for future generations. The community has already contributed so much to this plan through their feedback and we are delighted to be working with Calderdale Council and the Brighouse Town Deal Board to make it a reality.
“Getting this right needs a methodical approach that maintains a focus on the social, environmental and economic outcomes we all want to achieve. Through our strong existing relationship with the Council, our expertise in regeneration and our excellent supply chain we are ideally placed to deliver on this project.”
Plans to increase funding for Sheffield businesses affected by Clean Air Zone
Changes have been made to plans for Sheffield’s Clean Air Zone following feedback from public consultation.
Last year the council shared its proposals of support packages that will help people affected by the Clean Air Zone to upgrade their vehicles and avoid the need to pay the charge.
The Clean Air Zone will apply to buses, taxis, vans, and lorries entering the city centre who do not meet the council’s emissions standards. Private cars, motorbikes and mopeds will not be charged.
More than 2,700 businesses and individuals responded to the latest consultation on final plans for the Clean Air Zone, with 2 of every 3 agreeing that reducing air pollution should be a priority for the council.
However, whilst half of businesses who operate vans told the council that they would take a loan or grant, others were undecided or said they wouldn’t choose to upgrade, with the amount of funding on offer being cited as the most common reason for this.
Based on the feedback received, the council have made a number of changes to the plans, including improving support for smaller independent businesses and sole traders to make it easier to transition to electric or lower-emissions vehicles.
Cllr Terry Fox said: “We’ve heard what you have to say: clean air is important to you, but you’re worried about the cost. That’s why we’re asking Government to approve our plans to increase the available funding, including tripling the maximum grant available for replacement vans, to make cleaner vehicles more affordable.
“We know that businesses are facing many challenges at the moment and it’s important that we listen to what people have to say and take this step together to improve our air quality, which impacts on us all.
“I hope that this increased support will help to alleviate people’s concerns but as ever, if you have any questions, please do get in touch with us.”
The new proposals must be approved by Government who will make the final decision on funding before they can be implemented in Sheffield.
The updated proposals set out to Government are:
- Increasing the maximum grant for van owners upgrading to a Euro 6 diesel or Euro 4 petrol engine to £4,000, or up to £5,000 to upgrade to an electric vehicle
- Increasing the maximum grant for Hackney taxis upgrading to a Euro 6 diesel or Euro 4 petrol engine to £6,000, or up to £10,000 to upgrade to an electric vehicle
- Increasing the maximum grant for Private Hire vehicles upgrading to a Euro 6 diesel or Euro 4 petrol engine to £3,000, or up to £4,000 for an electric vehicle
- Increasing the maximum grant for HGVs, scheduled buses and coaches to £16,000
Retrofit grants will also be available.
Additional temporary exemptions will be put in place for people who are ineligible for a loan or who are waiting for their new vehicle to be delivered.
People who have upgraded their vehicle since 26 October 2021 will also be able to apply for the funding retrospectively, which may particularly affect local taxis and private hire drivers where licenses could expire before the support is available.
Further details on the full range of support measures available, and how to apply will be available from late spring 2022. People will have until 2023 to upgrade their vehicles after receiving funding.
Cllr Douglas Johnson, Executive Member for Climate Change, Environment and Transport, said: “During two consultations, the people of Sheffield have told us that we should prioritise taking action to clean the air. Over the next year, drivers of the most polluting vehicles will be faced with a choice: use the support we are offering to upgrade to a cleaner vehicle; or pay to pollute.
“I’m pleased that the funding we’re requesting from Government will directly support our small businesses, and I hope that this improved offer makes upgrading easier and will give more people the confidence to do so.”
The delivery programme for the scheme has been reviewed and the Clean Air Zone is due to go live from early 2023. Further information on the start date will be provided later this year.
Once introduced, the Clean Air Zone will be monitored and evaluated regularly. Any concerns such as diverted traffic and congestion will be investigated, and changes made on a local level where needed.
£100m Gleadless Valley Masterplan given the go-ahead
The Gleadless Valley Masterplan, which will see improvements made to housing, green spaces and facilities as well as increased employment opportunities, has been given the go-ahead following consultation with residents.
From January to March, Sheffield City Council conducted consultation with residents of Gleadless Valley on the draft Masterplan which will see £100m spent to improve the area. Their feedback showed overall support for the proposals with some minor amendments to the masterplan.
During the consultation period residents and stakeholders were asked to provide feedback on the draft Masterplan, stating what they liked or didn’t like as much.
The Council also sought feedback specifically from residents living in the homes that will be demolished or remodelled and 80% of respondents said they supported the proposals for the area of Gleadless Valley they live in.
Of the 4600 homes in the area, only 2464 homes remain in council ownership, and of these only 25% are directly impacted by the specific housing proposals, such as refurbishment and replacement housing. The proposals for the green spaces, facilities, employment and skills will impact and benefit all local residents.
What changes can you expect to see?
Housing
- 80 Older Persons Independent Living Scheme apartments
- New build houses at Gaunt Road
- 109 new build houses and apartments
- Replacement of 10 blocks of maisonettes and replacement with 88 new houses and apartments
- Remodelling of some ground floor maisonettes into 3-bed town houses and some upper floor 3 bed maisonettes into 2 bed maisonettes
- Remodelling of 1 bed flats into 4 bed town houses
- External refurbishment of 51 blocks – 624 homes
Green spaces
- Improvements to paths and crossings and increased traffic calming measures
- Upgrades to parks and play equipment for all ages
- Green space and landscape improvements
- Private gardens for new homes and remodelled ground floor town houses
- Adapted maintenance regimes to support natural open spaces
- New tree planting
Services and facilities
- Improvements to shop fronts and local centres
- Parking improvements – including formal parking for new and remodelled homes
- A new community space included in the Older Persons Independent Living Scheme
- Community food growing and gardening projects
Employment and skills
- More opportunities for apprenticeships and training
- Targets for local employment linked to the investment programme
- Community enterprises
- Career Fair and Support – helping businesses and supporting residents with job applications
Just one month to go until the Property & Business Investment Lincolnshire Expo!
With just one month to go until the Property & Business Investment Lincolnshire Expo, if you haven’t already registered for the highly anticipated event, now is the perfect time!
The free to attend expo, for which Business Link is a proud partner, will take place on Wednesday 27 April 2022 at The Bentley Hotel, Lincoln, providing everything you require for a great day of networking and business generation.
A well targeted event aimed at the Construction, Property, Business, Investment, Finance, Professional Services and related B2B markets, exhibitors include Aspbury Planning Ltd, Belvoir, Business Lincolnshire, BSP Consulting, Delta Simons, the Federation of Small Businesses, J Tomlinson, NatWest, Willmott Dixon, and YMD Boon, to name a few.
To see the full list of who is exhibiting click here.
Opening at 9am, the expo will also host a seminar, and as the exhibition closes, it will roll directly into an informal, open buffet style network lunch – tickets for the lunch are just £25 plus vat and can be ordered and paid for directly online. Spaces for the lunch are limited, so order as soon as possible to avoid disappointment.
Tina King, of Business Shows Group, said: “It’s been a long time in the making thanks to the pandemic, but we are finally nearly there, The Property & Business Investment Lincolnshire Expo is gearing up to be one of the best to date!”
To attend the event, register for free here.
To generate opportunities by exhibiting at the event, click here.
Purchase tickets to the networking lunch here.
Meet more potential clients in one amazing cost effective day, than it would take months out on the road.
Law firm makes six appointments
Six new people have joined the Lincoln office of rapidly-expending law firm Pepperells.
Joining the Pepperells Lincoln team are:
- John Conlon, highly regarded for his expertise in child law, representing children, parents and family members along with 20 years experience in family law.
- Alison McGowan is a member of the Law Society Children Panel and the Association of Lawyers for Children, she specialises in complex court proceedings, including care, private law children matters, special guardianship and adoption.
- Hannah Bell, specialises in representing parents in arranging contact orders, residency and guardianship along with supporting parents and family members where the Local Authority has issued care proceedings or commenced pre-proceedings.
