Libertine Holdings enters into bridging loan agreement

0

Libertine Holdings, a Sheffield-based developer of Linear Generator technology, has entered into a bridging loan agreement with Reliant FZCO to support the finalisation of new investment.

It follows news earlier this week that Libertine Holdings was set to engage an insolvency practitioner following a failure to secure short-term funding while it waited to receive a £2m investment from investors in India and the UAE (Corporate International Financial Services Ltd and Reliant FZCO).

Under the terms of the bridging loan agreement, Reliant FZCO will provide two tranches of £110,000. The first tranche is expected to be received on 16 August and the second tranche is expected to be received on 14 September, to support the working capital requirements of the business.

It is intended that the conditional subscription agreement entered into between the company and Corporate International Financial Services Limited will be terminated. Instead it is intended that Reliant FZCO and the company will vary the terms of their original conditional subscription agreement to increase Reliant FZCO’s subscription from £1m to £2m.

Libertine Holdings noted that given the company’s financial situation, and the timing uncertainty around the receipt of funds, the Board still plans to engage an insolvency practitioner to seek advice on the appropriate next steps.

Trading in the company’s ordinary shares on AIM continues to be suspended.

Yorkshire & Humber Institute of Technology gets government backing for further 10 years

Yorkshire & Humber Institute of Technology (YHIoT) has become the first Institute of Technology (IoT) in the country to be relicensed by the Department for Education (DfE). The relicensing, which will see YHIoT continue its work for another 10 years, demonstrates the government’s commitment to IoTs and supporting the growth of STEM industries. It will allow YHIoT to continue working collaboratively with STEM learners, education providers and employers in the region to create opportunities for students and employers, as well as support regional economic growth. Danny Metters, Chair of YHIoT, said: “This is an exciting time where we can shape the future of YHIoT, by creating stronger links with STEM industries and the communities we serve and investing in our students – who are the future workforce. “This relicensing really shows the value of YHIoT and the power of collaboration as we work to meet the higher level skills agenda for now and the future.”

Revised Harrogate Station Gateway plans unveiled

Major changes to the Station Gateway plan for Harrogate town centre have been shared with the public as the scheme takes a key step forward. The £11 million scheme, under the Transforming Cities Fund (TCF), aims to boost access to Harrogate’s rail and bus stations and deliver improvements to nearby public spaces. It is part of a £44.6 million investment in North Yorkshire, which will also see a series of improvements in Selby and Skipton. As part of the statutory process, North Yorkshire Council are formally consulting on the Traffic Regulation Order (TRO) required for the scheme on Station Parade. The council have also published new visuals to represent the revised scheme, which was agreed by the executive in November last year. Cllr Keane Duncan, executive member for highways and transport, said: “We have listened to public views and worked extensively on a cross-party basis with local councillors to revise the Gateway plan. “The original scheme has been reviewed following this feedback, with Station Parade remaining open to two lanes of traffic and with no pedestrianisation of James Street. “It represents a proposal that is deliverable and with significant benefits for all transport users: motorists, cyclists, public transport passengers and pedestrians.” He added: “The scheme hopes to deliver high-quality public realm improvements to transform this key area of the town centre. It would see One Arch and Station Square transformed with new paving, trees, planting and lighting. “We plan to introduce improvements for pedestrians, a short southbound cycle lane on Station Parade and a new bus lane to allow easier and quicker access to the station. “Meanwhile, we will use innovative technology to improve the flow of traffic in this congested corridor. It means that the many crossings and traffic lights will be improved and coordinated.” There will be additional cycle parking, including covered parking close to the bus and railway stations, greater use of high-quality materials, such as Yorkshire stone paving, and feature lighting to make the town centre more appealing in the evening. The scheme maintains taxi ranks in Station Parade, prioritises disabled parking and makes key improvements for pedestrians so access to the stations is easier and more direct. The advertisement of the Traffic Regulation Order is one of the final stages before work on the multi-million-pound investment scheme can begin. Following the completion of the Traffic Regulation Order process, the scheme will need formal sign off from the Department for Transport (DfT) and the West Yorkshire Combined Authority (WYCA) before work can begin in the autumn. Once work has started, it is anticipated to be completed by the spring of 2026. Details of the Traffic Regulation Order can be found online or paper copies are available at Harrogate Civic Centre and Harrogate Library.

Evelyn Partners to acquire Haines Watts’ Leeds, Manchester and Newcastle offices

0
Evelyn Partners, the wealth management and professional services group, has come to an agreement to acquire the northern city offices of Haines Watts, comprising Manchester, Leeds, and Newcastle. The teams in these locations provide a wide range of services and solutions to support entrepreneurial, owner-managed businesses.

The acquisition will bring five partners, nine directors, and over 150 colleagues from Haines Watts into Evelyn Partners’ Professional Services business, significantly strengthening its presence in the north of England.

The deal represents the sixth acquisition for Evelyn Partners’ Professional Services business since the start of 2023, as it seeks to augment its strong organic growth and broaden its geographic footprint by adding high quality firms with complementary expertise. 

Andrew Wilkes, Chief Professional Services Director of Evelyn Partners, said: “We are delighted to welcome the team and clients of these three former Haines Watts offices to Evelyn Partners.

“The team, led by Donna Bulmer, are high-quality professionals with a long-standing track record of giving clients the best possible tax advice and accountancy solutions. Their approach of providing a fully supportive, personal service and building long-standing relationships with clients is very much in line with our culture at Evelyn Partners. 

“This acquisition continues our strategy of expanding the number of business and private clients we provide our professional services to in the north of England.” 

Donna Bulmer, Managing Partner of Haines Watts, said: “This is an exciting time for our clients and our team as we join forces with our new colleagues at Evelyn Partners. We see a great cultural fit that will ensure we continue to deliver high service levels to our clients, whilst creating fantastic opportunities for our team.”

Aggregate Industries enhances local sea defences

Aggregate Industries, a building materials supplier, has delivered 89,000 tonnes of rock armour as part of the Environment Agency’s £29 million Stallingborough Sea Defence Improvement Scheme. Aiming to enhance coastal defences and protect critical infrastructure along the Humber Estuary, between the ports of Immingham and Grimsby, this ambitious project required 70,000 tonnes of granite to be shipped from Aggregate Industries’ Glensanda superquarry in Western Scotland via Immingham Dock. The granite, with each piece weighing between 0.3 to 1.0 tonnes, made its two-day sea voyage aboard the 90-meter-long Hagland Saga. Each of the 17 shipments carried approximately 4,500 tonnes. Upon arrival at Immingham, the cargo was swiftly offloaded and transported by road to the Stallingborough project site. Additionally, 19,000 tonnes of smaller grade rock armour, ranging from 60kg to 300kg, were sourced from the firm’s Bardon Hill quarry in Leicestershire and delivered in approximately 700-tonne loads. In collaboration with Jackson Civil Engineering, Aggregate Industries ensured a seamless delivery, overcoming challenges such as unpredictable docking times and the migration of vital bird species which limit works within the designated Humber Estuary site between April and September every year. Nick Gilbert, business development manager for Aggregate Industries, adds: “We are proud to have played a crucial role in protecting Stallingborough and its surrounding areas. “Our comprehensive network and methods enabled us to meet the logistical challenges of this complex and reactive project which effectively saw the equivalent of a quarter of the Humber Bridge’s tonnage seamlessly delivered and discharged, directly contributing to the safety and resilience of the local community.” The Stallingborough Sea Defence Improvement Scheme is the third phase of ongoing coastal improvements and is designed to provide a further 25-year design life to the current flood defence embankments. This project will see the repair and fortification of a 4.5km stretch – including some 3km of rock armour – with the works comprising resealing and improvements of existing revetments, some of which date back to the 1953 North Sea flood. This effort will safeguard 2,300 homes, vital infrastructure and industry, as well as precious habitats in the Stallingborough area. Nigel Priestley, Senior Project Manager for the Environment Agency, said: “Aggregate Industries have provided a great service to Jackson and the Environment Agency by supplying the smaller rock to allow installation to commence in 2023, and then the larger rock from Oban, through the winter, impacted by numerous storms, in time for a March 2024 start. “The option to deliver by boat from the UK has also saved a significant amount of carbon too and minimised transportation by road.” The granite used in this project, known for its durability and longevity, is an ideal material for modern sea defences. With a lifespan exceeding 100 years, these specialist aggregates are designed to withstand harsh weather conditions and dissipate wave energy, mitigating soil erosion and maintaining the natural integrity of the landscape. Beyond its protective capabilities, the rock armour also promotes vegetation growth and facilitates habitat creation, aligning with Aggregate Industries’ commitment to environmental sustainability.

Yorkshire IT company gets boost from Theo Paphitis

A Cross Hills-based firm has received recognition and a business boost from retail guru Theo Paphitis. Last week, Sara Haggas, Sales and Marketing Manager at Comprendo, posted about the business on the former Dragon’s Den star’s Instagram account during ‘Small Business Sunday’. As a result, Comprendo became one of six weekly winners to receive a repost to his half a million+ Twitter and Instagram followers. The weekly initiative, set up by Paphitis in 2010, has created a network of over 3,500 Small Business Sunday winners championing small businesses throughout the UK. Theo Paphitis, Chairman of Ryman Stationery, Robert Dyas and Boux Avenue, said: “We are thrilled to welcome new #SBS members every week to highlight just how important it is to support our small businesses here in the UK. My vision is that everyone who has ever won an #SBS re-tweet from me becomes part of a friendly club of like-minded individuals who can share successes and learnings. The website also gives a valuable profile to the winners chosen. I wish Comprendo every success.” Comprendo specialises in providing remote desktop solutions for SMEs enabling users remote access to their data and systems. The firm services clients not only in its locality of Yorkshire and Lancashire, but across the UK. Sara’s post on Small Business Sunday had referenced the recent global IT carnage caused by an erroneous software update, reflecting that “it has made us think carefully about the trust and confidence our clients put in us to keep their businesses running smoothly and efficiently every day of the year.” Director, Daniel Hildred, said: “We’re delighted to have this sentiment from Comprendo recognised by Theo and very much value his support and the exposure that joining other #SBS winners will provide.”

South Yorkshire Mayoral Combined Authority awarded £3m for Skills Bootcamps

The South Yorkshire Mayoral Combined Authority (SYMCA) has been awarded £3m from the Department for Education to continue and expand its Skills Bootcamps provision across the region. Skills Bootcamps form part of the Government’s Skills for Life strategy, designed to help those aged 19+ onto the career ladder, transition back into work or progress in work while also helping employers meet skills needs across the region. The courses are flexible and can last up to 16 weeks, whilst providing individuals with the opportunity to build up sector-specific skills and an offer of a guaranteed interview with a local employer upon completion of the course. Skills Bootcamps are a great opportunity for South Yorkshire residents to upskill and explore new careers opportunities in a variety of sectors. Designed with employers, Skills Bootcamps courses are aligned to industry needs, bridging the gap between the regional skills demand and its supply. Oliver Coppard, South Yorkshire’s Mayor, said: “This next set of funding is a huge achievement in helping to address the skills requirements of South Yorkshire. “This next wave of Skills Bootcamps is another vital step towards us meeting the skills gaps across our communities and help us on our journey to creating not just a bigger economy, but a better economy.”

Barnsley care group continues expansion with acquisition

Barnsley’s Optimo Care Group has acquired CFT Care Limited.

Based in Clacton, CFT Care is a supported living and specialist care provider, established in 2014 by David Thompson. The company employs approximately 230 skilled staff members who deliver essential services to around 60 younger adults with learning disabilities and autism.

CFT Care operates around 44 purpose-built supported living units across multiple sites in cluster settings, all of which will be included in the acquisition. This acquisition also includes a portfolio of supported living development sites for future expansion.

Optimo Care Group will be retaining all current CFT Care staff members, ensuring continuity of care and stability for the service users. The company also plans to further expand the team to accommodate the anticipated growth in services.

Optimo supports thousands of people across the UK with a variety of complex and specialist support needs. An acquisitive strategy and strong organic growth over the last 18 months has resulted in the Group trebling its post-pandemic revenues. The Group comprises multiple subsidiaries, employing over 1,400 people across the UK.

Optimo is now aiming to double its revenues over the next two years.

The sale was facilitated by Redwoods Dowling Kerr. Optimo was advised by Freeths LLP (Legal), Hazlewoods LLP (Financial and Tax), Knight Frank LLP and Eddisons Commercial (Property). CFT Care was advised by Ellisons LLP (Legal) and TC Group (Tax).

Ben Hales, Group Projects Director and head of M&A at Optimo, said: “I am absolutely delighted to have finalised this deal and to welcome the CFT Care team into the Optimo family. CFT Care has built and maintained an excellent reputation in the Essex area. With significant potential for continued growth through new development sites in the pipeline, we are eager to begin working with the team to drive our shared vision forward.

“I would like to thank all of our teams who have worked tirelessly around the clock to make this deal happen. We couldn’t have accomplished this without their dedication and hard work behind the scenes. Additionally, I would like to extend a personal thank you to David for his cooperation and assistance throughout this process.”

Ryan Brummitt, Managing Director for Supported Living and Specialist services at Optimo Care Group, said: “At Optimo, our focus is always on providing the highest quality of care and support for our service users. The acquisition of CFT Care allows us to extend our reach and enhance our services, ensuring more individuals receive the compassionate and personalised care they deserve.

“We are thrilled to welcome the CFT Care team and look forward to collaborating closely to make a positive impact on the lives of those we support.”

Firms urged to employ more ex-services employees

Companies in south Lincolnshire are being urged to follow a local authority lead by employing more ex-services people. Cllr Richard Dixon-Warren, South Kesteven District Council’s  Armed Forces Champion, said: “Military personnel possess a wealth of transferable skills capable of enhancing any organisation. “As a signatory to the Armed Forces Covenant and holders of the Ministry Defence Employers Recognition Scheme, we are extremely proud to have so many military veterans working for the council. “I would urge any company looking to recruit at any level to take a close look at employing ex-services personnel. There are really helpful employment websites supporting any company or organisation that signs the Armed Forces Covenant as a pledge to support defence.” South Kesteven District Council has sixteen former Armed Forces individuals, mainly from the Army, now play key roles in the council’s waste and recycling and Street Scene teams. They have transferred valuable skills developed from service with the Royal Logistics Corps, Infantry regiments, Royal Anglian Regiment and the Armoured Corps. Others served with the RAF and the RAF Regiment, Royal Artillery, Royal Engineers and even the Household Cavalry. Service has included tours of Afghanistan, Iraq and Northern Ireland. Two members of the council’s keen-eyed and effective CCTV team are also ex-Army – the Royal Artillery and the Grenadier Guards – and the council’s head of economic development is from an Armed Forces background. Cameron Greene now applies service skills developed with the Army’s Royal Engineers to managing the council’s Street Scene operation. He said: “We now have nine ex-military on the Street Scene team, all dedicated to getting the job done as they used to do for the Armed Forces. “In many ways the council suits those who have served in the military. There is a clearly defined structure, opportunities to progress and a great team spirit.” Waste team HGV driver Cheryl Miller served with the Royal Auxiliary Air Force. She said: “I drove Land Rovers, armoured personnel vehicles and Bedford four-tonners. I have always been a driver and have been able to transfer those skills.” Cheryl, who initially gained her HGV licence to drive her family’s American motor home, joined SKDC during the Covid pandemic. “My husband had an accident and I needed to work,” she said. “The Council needed drivers, I applied and here I am. I love the job!” Another HGV driver, Mick Toms, served with the Royal Engineers. “I was in engineering after coming out of the forces but then went back into driving and this role really suits me.” Employers can also claim National Insurance contributions relief if employing a veteran in their first year post-service.

Lomond acquires North Yorkshire estate and letting agent in milestone deal

Lomond has acquired a North Yorkshire estate and letting agent marking the firm’s 60th acquisition since LDC’s investment in 2020, as well as the 100th acquisition since the original business was founded in 2010. The acquisition of Joplings, one of North Yorkshire’s oldest independent agencies, will see Lomond’s Linley and Simpson brand take over the business. Whilst it’s one of the smaller deals Lomond has done to date, the deal itself is a significant one for a number of reasons. Joplings is a well established business and Linley and Simpson’s primary competitor in the Ripon area, meaning that with its acquisition, Linley and Simpson is set to become the predominant presence within the local property market. Linley and Simpson will take on all of the properties currently under management with Joplings, pushing Linley and Simpson to in excess of 15,000 properties under management, with the brand also taking the existing Joplings sales pipeline. The deal also marks a very significant milestone for Lomond’s Acquisition Director, Robert Hamilton. As one of the founding partners of the original Lomond business, Lomond Capital, in 2010, Robert Hamilton oversaw 40 acquisitions across the UK, helping to build the business from the ground up across a number of market regions. Since Lomond Capital merged with Linley and Simpson in December 2020 to form the current Lomond business, Robert has managed the acquisition of a further 60 businesses across the UK, with the Joplings deal being Robert’s 100th. Lomond’s Acquisitions Director, Robert Hamilton, said: “We’ve embarked on an incredible journey since the early days of Lomond Capital and I’m immensely proud to have overseen the acquisition of 100 businesses to date, from Scotland to the South coast, all of which have been strategically important in realising our aggressive growth ambitions. “The credit goes to my highly professional team and the market leading acquisitions process that we’ve implemented. We’ve always prided ourselves on being a people first business and this starts with our employees and extends right through to our customers and the sellers of the businesses we acquire. “For a seller, having your business acquired is an incredibly proud, life changing event, that allows them to realise the value they’ve built through sheer hard work and determination. It’s an intensely personal experience and one that needs to be recognised, acknowledged and managed with great care and respect. “As the acquiring business, we’re an integral part of this and it leads to very strong relationships, so much so that I was even invited to the wedding of one of our business sellers.” CEO of Lomond Yorkshire, Martin Elliott, said: “The acquisition of Joplings is one that has been ten years in the making and holds high strategic importance for the Linley and Simpson brand. “We’re acquiring an extremely well-established and respected local business and, in doing so, we are cementing our position as the leading agent in the local area.”