Duo of companies secure Finance Yorkshire funding

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SMEs across Yorkshire and Humber are growing and creating jobs with investment from Finance Yorkshire. The funding body’s loans fund is supporting businesses to expand by investing in technology, marketing spend, new product development and the hiring of new staff. Wetherby-based video production and animation company Reel Film Media has received £70,000 from the loans fund. The investment is being used to increase its marketing and sales capacity including the appointment of new staff. Reel Film will also use the investment to attract potential customers by generating new content for its website. In addition, the company has hired a content creation lead to provide a new service for clients. Founder Adam Chandler said: “Finance Yorkshire has been great. They saw the vision we have for the business and feel more like a partner rather than just a funder. The investment will make a big difference to our marketing strategy and accelerate where we want to go with the business.” Finance Yorkshire’s loans fund is also supporting Trustist, an award-winning customer reviews platform company based in York with high profile clients including Timpsons, Johnsons the Cleaners and Max Spielmann. Trustist is using its £250,000 investment to develop its own technology, marketing and hire more staff. Founder Nigel Apperley said: “Finance Yorkshire’s investment is essential to us being able to grow the business. We are recruiting more developers who will be based in York and have plans to develop franchising as a route to growing Trustist and its reach even further.” Finance Yorkshire chief executive Alex McWhirter said: “Our loans fund is a key route to access to finance for the region’s SMEs and is supporting exciting growth in a number of sectors particularly creative, digital and tech. “SMEs see us as a trusted partner in their businesses as witnessed by Reel Film and Trustist who are expanding at pace and importantly creating jobs in Yorkshire and Humber. We are delighted to support them in their growth journeys.”

Financial Conduct Authority to expand in Leeds, creating more jobs

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The Financial Conduct Authority (FCA) is set to base a further 100 of its workforce in Leeds as it expands its footprint in the city.
The FCA will increase its floor space by nearly 5,000 square feet of its 6 Queen Street office – an additional 35%. The refurbishment project will begin late summer, and the new space will open in the autumn. Nikhil Rathi, Chief Executive at the FCA, said: “We have really benefitted from having a base in Leeds – both in the breadth of talent that has joined the FCA and the different perspective our Leeds colleagues bring to the full breadth of our work. This further expansion is testament to the success of our Leeds office and the warm welcome we have received.” Tracy Brabin, Mayor of West Yorkshire, said: “West Yorkshire is going from strength to strength as the largest financial services centre in England outside London. “Hot on the heels of the Bank of England’s expansion in Leeds, I’m thrilled to welcome this new commitment from the Financial Conduct Authority. “It’s a fantastic vote of confidence in our region as we work to drive economic growth in a stronger, brighter West Yorkshire that works for all.” The FCA first opened its office in September 2022 and currently employs almost 240 staff in the city.

Genuit Group makes acquisitions to bolster sustainable solutions strategy

Genuit Group, the Leeds-based provider of sustainable water, climate and ventilation solutions for the built environment, has acquired Sky Garden Limited, Omnie and Timoleon.

Sky Garden, acquired for a cash consideration of £2.5m, is a leader in green roof technologies providing design, supply, installation and maintenance services for green and bio-solar roofs, podium decks and green walls.

The business, based in Tewksbury, Gloucestershire, will join the Water Management Solutions (WMS) business unit and will extend the Group’s blue green roof offering. It will provide an additional route to market for Genuit’s Permavoid business, which it complements, and synergies are also expected with the Keytec installation business.

Omnie and Timoleon are leaders in underfloor heating (UFH) board technologies and providers of full UFH system design and supply services. The trade and assets of the group operating the Omnie and Timoleon businesses have been acquired for a cash consideration of £2.7m.

The businesses operate and manufacture in Exeter, Devon and Lomza, Poland. The brands will complement and enhance the Group’s UFH offering and will be part of the Climate Management Solutions (CMS) business unit.

Omnie serves direct customers and the merchant channel whilst Timoleon supplies OEM customers. Strong synergies are expected with the existing Nu-Heat business in CMS and with the Group’s Polypipe UFH offering for new housebuilding in the Group’s Sustainable Building Solutions (SBS) business unit.

Joe Vorih, Genuit Group Chief Executive Officer, said: “We are excited by these acquisitions, which present a compelling opportunity for Genuit and align with our Sustainable Solutions for Growth strategy. They complement our existing portfolio, expand our product offering and will enable us to drive further growth in attractive end markets.

“I am delighted to welcome our new colleagues from Sky Garden, Omnie and Timoleon, and look forward to working together as we continue to address the challenges posed by climate change and urbanisation.”

Positive half year results for West Yorkshire & Humber industrial market

According to the latest Logic Industrial Property report from the Leeds office of global property consultancy Knight Frank, a robust 722,000 sq ft of take-up was recorded in the West Yorkshire and Humber region during Q2 2024, bringing the half year total take-up figure to 1.2 million sq ft (Units over 50,000 sq ft). Iain McPhail, partner in Knight Frank’s Yorkshire Industrial & Logistics team, said: “This puts the market in a good position against last year’s total of 1.6 million sq ft, reflecting a 20% improvement, and the highest H1 volume in three years. “One of the main drivers impacting the positive figures is the notable increase in demand from the manufacturing sector. Out of five leasehold and three freehold transactions to complete this year (as of end of June 24), all three freehold purchases have involved manufacturers. “The largest of these transactions was air conditioning manufacturer, Airedale, who acquired the 314,714 sq ft former Hallmark Cards facility at Dawson Lane in Bradford. In addition, the 275,413 sq ft former Ilke Homes factory in Flaxby, Knaresborough, was bought by bottled water manufacturer, Shepley Spring Water earlier this year. “The West Yorkshire and Humber market has seen a mini revival during H1 2024, which has also been driven by the increased availability of speculatively developed warehouse space in the region, with developments like Leeds Valley Park, Konect 62 and Velocity Point benefiting from pent-up occupier demand for small and mid-box units. “With the marked rise in manufacturing enquiries, we have seen increased demand from occupiers needing buildings with large electrical capacity. This further emphasises the need for developers to factor-in sufficient power supply to their speculative schemes to accommodate not only the B8 distribution sector, but also B2 manufacturing end users.” During the past year, over 1 million sq ft of space has been taken by manufacturers in the region. This is substantially higher than the circa 200,000 sq ft recorded in the same four-quarter period last year. Manufacturers now comprise over half of the space taken (56%), with distribution companies making up an additional 30%. This marks a shift from the previous year, when distribution firms occupied 72% and manufacturers only 16%. The largest letting in Q2 involved food and beverage logistics company, Oakland International who secured K161 at Konect 62 in Selby. The 161,578 sq ft new build unit was speculatively developed by Cole Waterhouse and reached practical completion in Q4 2023. Prime rents in Leeds for units over 50,000 sq ft remained stable in Q2 at £8.75 psf, however, with quoting rents for prime mid-box units now at £9.50-£9.75 psf, Knight Frank expects to see a substantial increase in headline rents within the next two quarters. Iain McPhail added: “Despite a small handful of second-hand modern warehouse space returning to the market recently, for example Unit TL2, Towngate Link in Leeds (see photo), we have seen total supply reduced by around 13% this quarter due to take-up levels and the notable absence of proposed speculative development on the horizon. “The exception is Baytree Developments, who are currently underway with their impressive speculative warehouse scheme located in South Leeds (Baytree Leeds), which consists of two best-in-class warehouse units of extending to 76,000 sq ft and 145,000 sq ft respectively.”

York Handmade Brick aids York Racecourse transformation

The pivotal role played by York Handmade Brick in the transformation of the southern end of York Racecourse has been highlighted by the racecourse’s Chief Executive. William Derby praised York Handmade for the company’s “magnificent contribution” to the multi-million-pound project, which comprised a significant upgrade to the 1913 Bustardthorpe Stand and the brand-new Roberto Pavilion The company, based at Alne, near Easingwold, supplied 70,000 bricks to the racecourse from its Ebor Range. The contract was worth £80,000. William Derby said: “York Handmade Brick is our brick supplier of choice and has been for some time. The previous development of the Northern End of the racecourse and transformation of the parade ring, weighing room and saddling boxes also used York Handmade and resulted in award-winning, world-class facilities for horses, jockeys and racegoers in 2015/16. “We wanted the Southern End development of our buildings at York to complement the quality and heritage of this development as part of our twenty year masterplan to transform the facility at York Racecourse as one of the best racecourses in the world. The transformation of the Southern End of the racecourse has now been completed and will be officially opened at the flagship Sky Bet Ebor Festival next month (21-24 August). We are thrilled with the finish, quality and architectural these high-quality bricks give to the area which will improve the facilities and race day experience for our racegoers. “We are proud to have worked in partnership with York Handmade Brick to deliver this scheme. Their contribution has been magnificent and strengthens what is already a brilliant relationship between us. It is wonderful to have such an accomplished quality brick-manufacturing company on our doorstep. “A key element of this new development is our emphasis on sustainability as part of our Green Knavesmire 300 commitment to the environment. With an eye on both the local economy and the inherent sustainability benefits, some 90 per cent of the works have been undertaken by Yorkshire firms, including the main contractors Lindum and, of course, York Handmade. “Sustainability has been embedded into the design and construction with solar panels, rainwater harvesting and a living roof all incorporated. A newly created and landscaped 900 square metre lawn area is covered by a canopy structure, six metres above the heads of racegoers, to give both the outdoor feel of a summer afternoon’s racing while offering protection from the elements.” Guy Armitage, managing director of York Handmade, said: “This was a very significant project for us. Apart from enhancing our special relationship with York Racecourse and helping to create even more superb facilities at one of the greatest racecourses in the world, it is a showcase for our brand-new Ebor Range of bricks. “This brick has a smoother finish than our standard texture bricks and is perfect for matching the style of the bricks on the historic outer wall of the racecourse designed by Walter Brierley, the Yorkshire Lutyens. The blend of colour is based on the Knavesmire Blend supplied for the earlier Northern End development in 2015-16. “This project was also a massive endorsement of our recent £1.5 million investment in brand-new machinery which has transformed how we make our bricks. Over the years, we have undertaken significant technological improvements, culminating in this overhaul and renewal of our manufacturing process, which has speeded up production, facilitated two brand-new products and increased efficiency. “This has played a major part in the success of this contract with York Racecourse, a stunning example of what we are able to manufacture with our brand-new plant.” Apart from the new lawns and open-air canopy structure, the area next to the refurbished Bustardthorpe Stand and Roberto Pavilion now features catering facilities, betting facilities, toilets and a new wrought iron gate that remembers Yorkshire owner-breeder, Reg Bond. The Roberto Pavilion itself provides racegoers with a bar, feature fish and chip shop, Tote and William Hill betting booths and a new Pimm’s bar.

Mamas & Papas secures funding to support future growth

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OakNorth, the digital bank, has provided a bespoke funding package to premium nursery brand, Mamas & Papas, to support its continued growth. Founded in 1981 by new parents at the time, David and Luisa Scacchetti, and headquartered in Huddersfield, West Yorkshire, Mamas & Papas is a designer, wholesaler, and retailer of nursery and baby products including travel systems, nursery furniture and children’s clothing. The business is now the largest nursery brand in the UK, operating an omnichannel shopping experience, including over 60 dedicated stores and concessions, across the country, in addition to an international footprint that sees them operating in 23 countries through various wholesale channels. Initially a family-owned business, Mamas & Papas was acquired in 2014 by Bluegem Capital Partners, which was founded in 2007 by Marco Capello and Emilio Di Spiezio Sardo. Bluegem is a private equity firm based in London, which invests in European consumer brands and businesses with baby care being a core subvertical. Mamas & Papas, which reported sales growth of 14% to £144m in its 2023 financial year, is set to report another record financial year thanks to continued sales and profits growth. Nathan Williams, CEO of Mamas & Papas, said: “Over recent years, Mamas & Papas has continued to build momentum across all areas of the business, including our store footprint, digital offering, domestic market and overseas partnerships, helping us win a record share of the market and build our reputation as a purpose-led, parent-centric brand. “OakNorth’s relationship-based approach to lending meant Stuart and his team were able to create a funding package that solves all our funding requirements under one facility.” Mathieu Develay, Partner at Bluegem Capital Partners, said: “Mamas & Papas is one of the most well known and loved premium baby brands in the UK, and a haven for expectant parents. “We were excited to acquire the business in 2014, and a decade on, we’ve been privileged to have a front-row seat as it has continued to go from strength to strength. Having worked with OakNorth before, we felt they’d be the ideal partner to support us with this transaction.” Stuart Blair, Director of Debt Finance at OakNorth, added: “This is a very exciting transaction for OakNorth as it emphasises our strong ambitions to do more to support the UK’s retail sector moving forward. “Given the expected growth in the UK nursery and baby products market, Mamas & Papas is well positioned to capture further market share and continue building its omni-channel presence. In Bluegem, they have a strong, long-term backer with an excellent track record in supporting retail and consumer brands across a range of sector verticals.”

Lindum Group starts work on 58 new homes in Derbyshire

Lincoln-based Lindum Group has begun work to transform the site of a former hospital in Bolsover into an development of 58 properties for Sheffield-based housing provider Forge New Homes. The scheme will provide a mix of three and four-bedroom properties on a 6.5-acre site off Welbeck Road, the former home of Bolsover Hospital, which closed in 2019. Freddie Chambers, chairman of Lindum Group, said: “The first phase of work involves segregating and securing the site and then conducting the bulk earthworks to level the land. “We will be installing the first section of drainage and infrastructure before moving on to the construction stage. We plan to hand the homes over in groups of four, with the first properties due for completion in April.” Andy Beattie, MD at Forge New Homes, said: ‘This development marks a momentous day for both Forge and Lindum Group as we join forces to bring affordable houses to Bolsover, a charming Northern town with a bonded community. “We’re excited to bring new life to this historic location, and in the process contribute to the economy with the provision of new jobs as we create a vibrant neighbourhood with much needed family homes.” Nick Atkin, Chief Exec of Yorkshire Housing and Chair of Forge New Homes, added: “This progress is testament to the work Forge has been doing in expanding its offering across the Midlands and Yorkshire. Our strategy is to move forward with much needed new homes for all and I am proud to see this now becoming a reality.” The work is expected to be finished by June 2026.

Consent sought for conservation works on Grimsby landmark

Listed Building Consent is being sought for conservation works on Grimsby’s iconic landmark, the Dock Tower. The Grade I listed structure owned by Associated British Ports (ABP) is the only one of its kind in the country and the work will include key structural repairs on the parapets, building of a new staircase, and drainage. If approved by North East Lincolnshire Council, work could start on the historical structure later this year in the hope it can reopen to the public. Simon Bird, Regional Director of the Humber ports, said: “It was during some routine maintenance work that it was picked up some of the further works that needed to be done to ensure the tower remains safe and accessible for the future. “The Dock Tower is the jewel in the Port of Grimsby. It has been a beacon to so many over the years and for Grimbarians it is a symbol of home. As its custodians we have over the years spent time and money maintaining it, as it has such architectural historic value, and will be here for many more years to come once these essential works are carried out.” Standing 309 feet (94.2m) tall to the top of the lantern, the tower was completed on 27 March 1852 to power the hydraulic machinery of Grimsby docks. Its height was to achieve the sufficient pressure needed to operate the machines. It was built by James Meadows Rendel, the civil engineer who constructed the docks at Grimsby between 1844 and 1853 and opened by Queen Victoria when she visited the port in October 1854. Designed by James William Wild, an architect born in Lincoln, he also contributed to the Great Exhibition of 1851 and spent several years in Egypt, and you can see the middle eastern influence on the lantern at the pinnacle. Jenny Bulmer, Conservation Engineer of Alan Wood & Partners, said: “Opportunities to work on such a unique and historically significant building as this come about rarely. Being able to discover some of the building archaeology and the history of its use throughout the process is a real privilege. Getting to see the tower brought back to life with a renewed purpose is something we can all look forward to.” The current plans submitted include:
  • Insertion of a new staircase
  • Installation of internal lighting
  • Brickwork repairs
  • Metalwork repairs
  • Paintwork
  • Roofing
  • Floor repairs
  • Drainage
  • Interpretation panels

Contractor named for £2.95m sea wall project in Filey

Ipswich-based Jackson Civil Engineering Limited has been appointed as principal contractor for a £2.95m repair scheme to protect Filey’s sea wall, and will start work on site in September, with completion scheduled for next year. The work is funded by a grant from the Environment Agency, and aims to ensure the sea defence remains viable for the next 50 years. The scheme will cover a 1.1-kilometre stretch of the coast between Coble Landing in the north and Royal Parade in the south. The defences were built between the 19th and 20th centuries, protecting 626 residential and 166 non-residential properties, as well as five Yorkshire Water assets, including sewage pumping stations. Executive member for highways, transport and coastal protection, Cllr Keane Duncan, said: “We are pleased to be able to begin the essential repair scheme which will enhance the condition of the sea wall by replacing damaged blocks, slipways and steps. “Extensive preparatory work has been carried out to ensure the stability of the wall and public safety. This includes comprehensive surveys and investigations to enable us to choose the best construction method and equipment. The council has worked closely with its delivery partner and local businesses to minimise disruption. The project is due to begin on 24 August, but construction won’t start until mid-September to avoid the peak tourist season.  

Competition and Markets Authority provisionally clears sugar deal

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The Competition and Markets Authority (CMA) has provisionally cleared T&L Sugars’ acquisition of Tereos UK & Ireland’s retail sugar business. The provisional decision – taken by an independent CMA panel – comes after a Phase 2 review revealed that Tereos’ UK retail operation could close.