Harrogate firm facilitates MBO at £35m turnover tile business
Harrogate-based CorpFin has been instrumental in a management buyout of UK tile specialist Johnson Tiles, which has a turnover of £35m at its base in Stoke on Trent.
The deal, which precedes a comprehensive restructuring of the business to safeguard the future of the respected British brand, was led by Chris Silverwood and Tony Norwood, partners at corporate finance and restructuring specialists CorpFin.
The management team, led by MD Stephen Dixon, commercial director Rich Kelsall, procurement director Jason Bridges and finance director Melanie Birks has assumed full control of the business having acquired it from former owner Norcros Plc with the full support of all parties.
An £8m revolving credit facility was sourced by CorpFin from Allica Bank, led by Ian Flaxman, head of growth finance, to provide working capital facilities to the new entity.
Chris Silverwood said: “In a challenging time for UK manufacturing, the future of the business demands a root and branch review of strategy in order to establish new firm foundations for success, and the MBO enables the first stage of that process.”
Tony Norwood added: “This was a highly complex situation successfully navigated due to the collaborative and pragmatic approach of the management team and Norcros, both of whom recognised that an MBO was in the best interests of all staff, customers and shareholders.
“The transition to a fully outsourced model, alongside the secured funding package, will allow Johnson Tiles to maintain its market leading position following the buy-out and ensure that the company is ideally placed to benefit from future growth.”
Sheffield building products supplier gives profit warning
SIG, a Sheffield-based supplier of specialist insulation and building products, has warned of lower than expected sales and underlying operating profit.
In a trading update for the year ending 31 December 2024 to date, the business noted that market conditions have remained challenging, with subdued demand in the majority of its markets, reflecting ongoing softness in the building and construction sector.
With weaker than expected trading in recent weeks and a more cautious view of the timing of any potential market improvements, the Board now expects 2024 full year underlying operating profit to be in the range of £20m to £30m – below the current analyst range of £36.7m to £43m.The company also highlighted a Group like-for-like (LFL) sales decline versus the prior year’s May and June of 7%.
SIG said it “continues to perform well relative to its markets and is also continuing to drive cost reductions and efficiency initiatives, which support the continued expectation of a stronger second half performance and will help drive higher profitability as markets recover.”
Green cleaning company’s recycling scheme saves 10,000 plastic containers from landfill
Hull-based green cleaning company Bio-D has helped consumers return more than 10,000 of its 20 litre refill containers as a result of its initiative to further reduce plastic waste.
The company’s ‘No Brainer Container’ scheme was launched in 2021 and encourages customers and suppliers to return their 20 litre Bio-D refill containers to be cleaned, refilled and used again. The 10,000 containers that have now been collected have saved 10 tonnes of plastic from going to landfill or incineration – saving the equivalent CO2 emissions as 1,330 trees would absorb in a year.
Bio-D MD Lloyd Atkin said: “We are over the moon to have reached this incredible milestone so soon. We couldn’t have done this without our customers and suppliers, who are as passionate about sustainability as we are.
“This is a significant environmental achievement for Bio-D and the next step in our ever-evolving green journey.”
The independent company is the UK’s leading manufacturer of environmentally responsible, ethically sound, vegan cleaning products and secured B Corp Certification in 2022. Prioritising reducing plastic waste from the very beginning, it first introduced refill sizes for its products in 1998.
Its closed loop ‘No Brainer Container’ initiative dramatically reduces the amount of plastic used within the company. Each returned container is rinsed, washed, steamed, and dried, before being quality checked, refilled, and reused by Bio-D customers.
Heather Nixon, Bio-D’s sustainability, NPD and regulatory manager, said: “One of Bio-D’s main business objectives is to minimise its environmental impact as much as possible. It is wonderful to see our refill containers, which in themselves were designed to reduce plastic use, make even more of an impact.”
Holmfirth town centre improvement scheme to get underway in July
From Monday 1 July, work will start on the Holmfirth Town Centre Access Plan, a £10.3 million investment scheme to create a more accessible town centre for businesses, residents and visitors.
Initial work starts at Huddersfield Road Car Park, where the existing market hall and footbridge will be replaced with a unique community events space where markets and events will take place throughout the year, drawing in visitors and cultivating the local economy.
Along with electric vehicle points, car parking facilities, widened footbridge and footways, new kerbing, and improved drainage, pavements will be resurfaced which will improve safety in the town centre, the pedestrian crossing on Victoria Street will also be signalised, along with improved street lighting, traffic signals and signage.
David Shepherd, Strategic Director for Growth and Regeneration at Kirklees Council, said: “Holmfirth is a beautiful town, and a fantastic place to live, visit and spend time. The Holmfirth Town Centre Access Plan will give longevity to the area, modernising Holmfirth’s unique offering, whilst embracing and celebrating the town’s world-famous heritage.
“Once complete, the town centre will be much more accessible and enjoyable for all, whilst we continue to help local businesses thrive and boost the local economy, whilst improving congestion, journey times and encourage active travel.
“This is scheme is a collaborative effort by the community, council and the Combined Authority to create a brighter future for Holmfirth.” The Holmfirth Town Centre Access Plan is a partnership project between the council and the West Yorkshire Combined Authority. The scheme aims to help reduce traffic congestion and carbon emissions by prioritising sustainable transport options such as walking, cycling, wheeling and public transport, while ensuring accessibility for all, and supporting the growth and development of the cultural sector.Councils turn to TV personality to promote sustainability in construction industry
East Riding of Yorkshire Council and Hull City Council are joining forces to stage a free-to-attend Construction Summit for businesses from across the sector, hosted by television presenter and DIY expert Mark Millar.
Mr Millar is best known for his roles in DIY SOS, Build Your Dream Home in the Country and Dream Kitchens and Bathrooms, but also appears on Fix Radio’s property development show, Building Ideas.
The DIY expert will lead a varied programme of discussions, inspiring sessions and practical workshops, all aimed at helping businesses to grow, enhance their offering and win new contracts. Approaches to environmentally responsible construction; insights into the procurement process from both sides; and methods of streamlining construction business operations and boosting productivity are among the topics that will be covered.
Attendees will also have plenty of opportunity to engage directly with procurement teams from key national and regional organisations, including Kier, Sewells and Hobson & Porter, as well as East Riding of Yorkshire Council, which will be represented by Construction Framework Manager Stefanie Wright, and Hull City Council’s Mark Homersham.
Mark Millar said: “Those who attend will benefit from the latest knowledge on industry trends and developments; information about new opportunities and forthcoming major projects; an increased awareness of local supply chains and opportunities for collaboration; insights into the supply chain network and how to navigate the market; exclusive ‘meet the buyer’ sessions; and strategies for improving their operational efficiency and sustainability.”
The Construction Summit 2024 is suitable for construction businesses of all sizes from across the Hull and East Yorkshire area that are looking to grow, increase their efficiency and make their operation more sustainable.
Taking place this Thursday, 27 June, from 8.30am to 1pm, at the MKM Stadium in Hull, the summit will focus on the themes of sustainability, efficiency and growth.
New Yorkshire partnership aims to support start-up businesses nationwide
Business experts at Leeds Beckett University have teamed up with marketing agency, GOLD79, in a new partnership to boost the long-term growth and sustainability of start-up businesses across the UK.
A new programme – GOLD79 MINE – has been launched as a collaboration between Leeds Business School at Leeds Beckett and GOLD79. The programme will support talented and entrepreneurial individuals who want to start their own businesses through academic consultancy, expert business support services, mentoring, networking, business infrastructure and financial support.
GOLD79, which has offices in Leeds and London, will also invest a minimum of 10 per cent of its profits into an investment fund for MINE members each year.
Professor Lebene Soga, Academic Director of the Centre for Entrepreneurship and Knowledge Exchange at Leeds Business School, said: “GOLD79’s collaboration with Leeds Beckett University in the launch of GOLD79 MINE is a testament to our shared commitment to fostering innovation in the vibrant Leeds City Region and beyond.
“Through GOLD79 MINE, we aim to provide a dynamic environment for students, graduates, academics and wider talent from the marketing industry to collaborate with entrepreneurial minds, echoing our dedication to driving growth and sustainability in the marketing agency scene.
“This partnership exemplifies our role as an anchor institution, proudly working alongside GOLD79 to offer a central hub in Leeds for engaging with entrepreneurial marketing people, supporting their resilience, and contributing to the overall success for our community.”
A key criterion for all businesses applying to the MINE programme is that they must operate within the guidelines and parameters of both B-Corp and Net Zero.
A series of 12 modules will be delivered over the course of the 12-month programme, with a selection of sessions delivered by Leeds Business School at The Knowledge Exchange business hub at the Rose Bowl in Leeds city centre. Professor Soga has inputted his academic know-how into all modules across the programme, which will be delivered by a range of academic and industry experts across a broad range of themes.
Tamarind Wilson-Flint, co-Founder of GOLD79, said: “We’ve always believed in the transformative power of entrepreneurship. From our beginnings 20 years ago with Jet2.com and Jet2holidays as our first and only client, to becoming industry leaders with a global presence through our L’Attitude network, our journey has been shaped by our ability to spot new opportunities and grow our business.
“Now, the launch of the MINE Programme represents a new chapter for GOLD79. We’re not just looking to the future; we’re actively shaping it. By fostering a community of entrepreneurs, we hope to create a ripple effect that extends far beyond our immediate reach. Our partnership with Leeds Beckett University underscores our commitment to education, innovation, and community engagement.
“Entrepreneurship has the power to transform lives, economies, and societies. It’s a path filled with challenges, but also immense rewards. Through MINE, we’re excited to support the next wave of entrepreneurs, helping them navigate their journeys and achieve their dreams.”
Business golfers raise £22,000 for Sheffield Hospitals Charity
Sheffield businesses have raised more than £22,200 for Sheffield Hospitals Charity at their annual golf day at Hallamshire Golf Club.
The annual event which has been supported by IFM Insurance Brokers over the past nine years has raised a cumulative total of more than £201k.
The Golf Day attracted over 40 teams drawn from local South Yorkshire businesses, and the money raised will support neurology and neurosciences at Sheffield Teaching Hospitals NHS FT Trust.
Alister Smith, Director of IFM Insurance said: “Once again it was great to see so many familiar faces supporting the golf day. The monies raised from this event form a vital part of the ongoing funding of neurology related support in Sheffield, and we are pleased to have played a small part in raising such an amazing sum of money.”
Beth Crackles, CEO of Sheffield Hospitals Charity said: “A huge thank you to IFM Insurance Brokers Ltd for their ongoing support and to everyone who took part in what was an incredible day. This year we are funding an outdoor rehabilitation area at the Northern General, so that neurology patients have a dedicated space to begin regaining their physical independence outside of the ward.
“In research, we recently committed to funding the exploration of potential links between abnormalities in the immune system and epilepsy. We are also continuing to fund research into FSHD – a degenerative neuromuscular disease. The funds we raise make such a big difference to people across Sheffield receiving care and benefitting from research.”
Yorkshire Building Society employees’ Three Peaks Trek raises £48k for FareShare
Yorkshire Building Society employees have raised more than £48,000 for FareShare, the UK’s largest charity tackling the environmental problem of food waste for social good, by taking on the Yorkshire Three Peaks.
Almost 250 colleagues took part in a 10 or 26 mile walk, in torrential rain, wind and even some sunshine, to raise money for the Society’s charity partner.
The money raised will fund Building Skills for the Future programmes in seven of FareShare’s regional centres, including London, Bristol, Merseyside, Milton Keynes, Yorkshire, Edinburgh, and Cardiff. The employability programme supports people who are unemployed into good, sustainable work, addressing one of the root causes of poverty. The Building Skills for the Future programme offers participants coaching, support, practical workshops and work experience to help them to gain full-time employment.
In addition, the partnership will fund an outreach programme offering free, face-to-face sessions and workshops helping participants overcome financial hardship by supporting the building of important skills such as CV writing, job searching and improving financial wellbeing. It is hoped that the two programmes will help 2,500 people improve their employability and help them become more financially resilient.
Tom Simpson, MD of YBS Commercial Mortgages, said: “The walk itself was really challenging but everyone was so determined to complete it and raise as much money as possible for FareShare, Yorkshire Building Society’s charity partner.
“We’re delighted that we’ve managed to raise over £48,000 so far, which will help towards our target of raising £1million to fund Building Skills for the Future programmes that will help to lift over 2,500 people out of financial hardship.”
Polly Bianchi, Director of Fundraising at FareShare, said: “We’re hugely grateful to all the Yorkshire Building Society colleagues who took on this challenge in support of FareShare.
“The Building Skills for the Future employability programme, funded by Yorkshire Building Society, will help thousands of people seek long-term employment, as part of our important work to provide a hand up not a hand out to communities across the UK.”
Leeds design and interiors business acquired to ensure employment for staff following market challenges
Design and interiors business Dowsing & Reynolds has been acquired in a deal that will help it deliver future growth.
Following a recent business restructure and a considered move to enter into an administration process, Dowsing & Reynolds has been acquired by its existing owners, Ally & James Dowsing-Reynolds.
This action has been taken to ensure the stability and security of all current positions within the company following a significant post-pandemic market downturn and a challenging economic climate.
Since launching in 2013, D&R has become an established brand producing design-led fixtures and fittings such as statement lighting and sockets and switches, appearing in The Times Top 100 list.
However, with unprecedented challenges from the pandemic and economic instability causing lower consumer confidence, compounded by the pressures of the ongoing cost of living crisis and the dampened housing market, the industry has been profoundly impacted.
Co-founder James Dowsing-Reynolds explains: “We have restructured the whole business to become more streamlined and this acquisition has been able to secure everyone’s jobs and the future of the brand.
“Our primary focus has been, and will always be, the welfare and security of our dedicated staff, whose hard work and loyalty have been fundamental to our operations. We are committed to maintaining continuity and are grateful for the unwavering support and loyalty from our employees, customers, and suppliers during these times.
“As we embark on this next step of our journey, our commitment to excellence in design remains unchanged. Our team is enthusiastic about the opportunities ahead. We are implementing robust strategies to enhance our operational efficiencies and product offerings, ensuring that Dowsing & Reynolds continues to meet the needs of our customers with high-quality products which help them to create homes and commercial spaces that are loved. We feel really positive about the future.”
Wakefield-based YPO appoints head of procurement
Wakefield-based YPO has appointed Michelle Walker to a new role as head of procurement services.
She will lead on forming strategic stakeholder partnerships, nurturing strong internal relationships and collaborating with customers within the supply chain of YPO, one of the UK’s largest public buying sector organisations.
She said: “It’s exciting to begin this role at such a pivotal time in the industry, and I am looking forward to strategically working with leaders across YPO and its partners to build opportunities that can develop and grow the organisation whilst delivering an outstanding service.”
Simon Hill, MD at YPO, added: “Michelle joins us with a wealth of experience in public sector procurement, working at the NHS for over 20 years in total. She has led teams through some of the most challenging times, such as the pandemic, and truly has a passion for making a difference. The board and I look forward to working with Michelle closely to shape YPO’s procurement strategy for the future.”
Michelle is an award-winning procurement professional with extensive experience in the public sector, specifically within the NHS and higher education at Sheffield Hallam University. For the past 15 years she has held a position within the NHS North of England Commercial Procurement Collaborative in Sheffield, with her most recent role seeing her lead a team within the Healthcare Services and Pharmacy category.
As well as her category work, Michelle conceptualised and delivered a well-regarded suite of training for procurement and non-procurement staff on a national scale, contributing as a keynote speaker at numerous national events.
Michelle also teaches the next generation of procurement professionals, delivering CIPS level 4 and 5 training at the College of York and the University of Hull. Michelle is CIPS qualified and holds a post graduate qualification in Public Procurement Law and Policy from the University of Nottingham.
