Private equity firm backs specialist Maintenance, Repair and Operations business
NVM Private Equity (NVM) has backed a specialist Maintenance, Repair and Operations (MRO) business, MRO+ Solutions Limited (MRO Solutions).
NVM are backing the incumbent team led by Matt Cattell who has overseen a 50% expansion in revenue since joining four years ago.
Grimsby-based MRO Solutions is a highly technical, value-added distributor of critical products to a range of process and manufacturing industries. The Group operates nationally through its wholly owned subsidiaries, MJ Wilson and Helix Tools.
MJ Wilson is a specialist value added distributor of process instrumentation and control products servicing the energy, power generation and process industries. Helix provides technical support to a range of precision manufacturing clients supporting their tooling requirements.
The market is highly fragmented providing the backdrop for an attractive buy and build opportunity to supplement organic growth plans. As part of the investment, funding for acquisitions has been reserved to enable the group to accelerate the M&A strategy post investment and consolidate the market.
On completion, Kevin Appleton will be joining the board as Non-Executive Chairman; Kevin has significant experience in the distribution sector and extensive M&A expertise.
Matt Cattell, Managing Director of MRO+ Solutions, said: “We are thrilled to join forces with NVM Private Equity. This partnership will enable us to further strengthen our position in the market and capitalise on new opportunities, through organic and acquisitive growth.
“With NVM’s support, we are confident that we can continue to deliver exceptional value to our customers and team members, driving long-term success for our business.”
Charlie Pidgeon, Investment Partner of NVM, said: “We have been highly impressed with the quality of the senior leadership team, the growth they have achieved and their vision for the future. We look forward to fully supporting the team in achieving their organic growth plans and pursuing acquisitions to consolidate what is a highly fragmented market.”
Games developer delivers solid revenue performance while slipping to pre-tax loss
Team17 Group, the Yorkshire-based games developer, has delivered a solid revenue performance, while slipping to a pre-tax loss of £1.1m.
According to unaudited final results for the year ended 31 December 2023, revenues grew 12% to £159.1 million, up from £142.3 million in 2022, with 17 new games and apps released in the period alongside six existing games released on additional platforms.
A thorough review of the Games Label strategic direction (now re-focussed on its core Indie games roots), cost base structure and processes was completed in the last quarter of the year, with headcount reduced to 348 from 392.
Steve Bell, Chief Executive Officer of Team17, said: “While 2023 presented some challenges for the Games Label, the speed and tenacity with which the teams have responded has demonstrated the exceptional talent we have at Team17.
“The Games Label is now realigned to its proven low-risk Indie model, tighter cost controls have been enforced and one-off actions taken to clean up the balance sheet.
“We are back on form in 2024, with a solid slate of games and apps, our exceptional back catalogue and a clear plan for growth across the Games Label, astragon and StoryToys. The year has started well.”
Yorkshire & Humber worst performing UK area as business activity decline quickens in March
The headline NatWest Yorkshire & Humber PMI® Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – signalled an intensified slump in the local economy at the end of the first quarter.
Falling to 46.9 in March, from 48.3 in February, the headline index signalled a second straight monthly decrease in business activity across Yorkshire & Humber, and one that was the quickest since October last year.
Notably, Yorkshire & Humber was the worst-performing part of the UK, both in terms of business activity and new orders during March. In fact, the region was the only monitored UK area where output levels shrank at the end of the first quarter.
The amount of new business secured by private sector companies in Yorkshire & Humber continued to decrease in March, in line with the trend since May last year. The rate of decline also gathered pace and was the quickest in four months. Weak market conditions were commonly noted as a reason for fewer sales.
The contraction seen locally contrasted markedly with expansion for the UK as a whole. Of the 12 monitored UK areas, Yorkshire & Humber registered the steepest slump in new orders during March.
With new business intakes continuing to fall, private sector companies across Yorkshire & Humber cleared more outstanding orders. Overall, this marked the thirteenth consecutive month of backlog depletion. Furthermore, the decrease was the strongest in four months and the fastest of all 12 monitored parts of the UK.
March survey data signalled a strong level of optimism towards Yorkshire & Humber business activity for the next 12 months. According to respondents, new client wins, investment and expectations of a pick-up in the UK economy supported confidence.
The growth outlook across the region was stronger than seen for the UK overall.
The seasonally adjusted Employment Index remained in sub-50.0 contraction territory during March, signalling back-to-back months of job cutting across Yorkshire & Humber. Redundancies and the non-replacement of voluntary leavers were linked to headcount reductions.
Although the decrease in staffing numbers was marginal, Yorkshire & Humber was one of just five parts of the UK to record job losses in March.
Although the seasonally adjusted Input Prices Index for Yorkshire & Humber fell to a five-month low in March, it remained well in excess of both the 50.0 no-change mark and its long-term average, signalling a further steep monthly rise in firms’ operating expenses. According to panel members, supplier fees and salaries were sources of inflation.
In response to persistent cost pressures, private sector companies in Yorkshire & Humber charged higher prices for their goods and services at the end of the first quarter.
The local rate of output price inflation was strong overall but eased slightly since February and was below that seen for the UK as a whole.
Malcolm Buchanan, Chair of the NatWest North Regional Board, said: “The latest survey data mark a particularly grim end to the first quarter of 2024 for the Yorkshire & Humber economy, being the only part of the UK where business activity shrank in March. Order books and employment are key reasons for this, with both declining once again.
Specialist seed duo will offer advice from Northumberland to the Midlands
Agrovista Seeds has appointed two seed specialists to help meet increasing demand from growers looking for technical expertise and advice.
Eastern seed sales manager James Barlow has taken on responsibilities for the East Midlands, East Anglia and the East, whilst northern seed sales manager Marc Lanham is looking after Yorkshire, Durham and Northumberland.
James grew up on an arable farm in Nottinghamshire and gained a degree in Agriculture at Lincoln University. He joins Agrovista after more than 10 years with Gleadell/ADM Agriculture where he rose through the ranks to become head of seed.
Marc gained an HND in Agriculture at Bishop Burton College. After creating a successful business as a self-employed contractor providing agricultural labour and services throughout Holderness, he joined Nickerson (LG UK) as a seed specialist in 2011 and was promoted to northern seed manager six years later.
James says: “Our main role is working with Agrovista’s agronomists, who are trusted first points of call for many of our growers. We supply those agronomists with key information to help customers make the best variety choices for their farms without having to go through what can be a laborious decision-making process.
“With cereals and oilseed rape, we offer a mix of the best mainstream varieties and our own exclusives, based on our rigorous testing regime over several seasons and a range of growing conditions.
“Agrovista is not afraid to give it a go, putting money behind these varieties, and it is an area we want to build.”
Drax Community Fund adds more than £19,000 to Yorkshire organisations
Drax Group is supporting 21 Yorkshire organisations through donations of more than £19,000 from its Community Fund, giving each a donation of between £500 and £2,000.
Bruce Heppenstall, Plant Director at Drax Power Station at Selby, said: “I’m really proud of the work Drax does to support the community local to the power station.
“The diversity of organisations that will benefit from the funding announced by our new Community Fund means we will be supporting lots more people across the county, including residents, charities and non-profits, which do really important work to enhance people’s lives here in Yorkshire.
“Through these donations we want to advance participation in STEM education and improve opportunities for people, and we aim to enhance green spaces, so residents have better access to nature.”
The projects involved include:
- Women in Tech, York: Encouraging young women to go into STEM careers, holding free monthly meetings, where local women can learn about career opportunities and meet role models in the industry.
- Marshlands Primary School, in Goole: Pupils have been working with the local council to improve their local park, to install a wildflower patch and improve public facilities in the park.
- Western Wolds Men in Sheds, East Yorkshire: Construction of nesting boxes designed for barn owls and little owls to encourage nesting in the local area.
- Ryhill Junior, Infant and Nursery School, in Wakefield: Providing eight iPads to school pupils to further their education.
- Goole Community Concert Band: Helping bring the local community together by starting a local community concert band in the town for all ages.
McClarrons to convert BMW showroom into Malton HQ
Insurance broker McClarrons has bought the former BMW and Mini showroom on Malton’s York Road from Inchcape Estates and will transform it into its head office.
Having outgrown its existing premises at Market Place in Malton, the McClarrons team will relocate to prominent 10,000 sq. ft office premises at York Road following a complete refurbishment. About 13,000 sq. ft of additional unit space and parking offers other businesses the opportunity to expand within the local area. Robert Hill of Andrew Jackson’s real estate and development & strategic projects team advised McClarrons on the purchase of the site, supported by colleagues Nicole Waldron, Ailish Ward and Hayley Neal. Planning consultant Janet O’Neill provided guidance through the planning application for change of use to office space. Sean McClarron, executive chairman of McClarrons, said:”During a period when acquisitions and mergers are at an all-time high in our industry, we are extremely passionate and committed to remain a family-owned company in the long term; continuing to strive to deliver the highest standards of service to our clients. We have a succession plan to achieve this. “The acquisition of our York Road site is extremely important. It needed to be dealt with swiftly, and thoroughly, and without the right team of professionals it would not have been possible. Andrew Jackson Solicitors could not have done a better job for us, and we are absolutely delighted with the standard of advice, service and speed provided. “We are really looking forward to our relocation which will offer a superb working environment to retain and recruit our people, along with excellent meeting facilities for our clients and key partners, which will secure our long term growth objectives in a prominent position with easy access and parking facilities.”Boston Energy scoops ‘safest supplier’ award
Wind energy technical services provider Boston Energy has received a top safety accolade in Siemens Gamesa’s prestigious supply chain awards.
East Yorkshire-based Boston Energy won Siemens Gamesa’s Strategic Partnership Health and Safety Award, recognising zero incidents had occurred in projects involving the two companies working together. The award was the only safety-focused award presented during a supplier day for Siemens Gamesa’s top 20 suppliers in its service supply chain, which include Boston Energy. The company has supported Siemens Gamesa for more than a decade, providing skilled technicians as well as services including site management, procurement and operational support. Boston Energy has more than 80 technicians employed to support Siemens Gamesa in wind energy projects across the world, working on turbines from 1.3Mw power up to 6Mw. Boston Energy Operations Director Julian Martin said: “Over the years we’ve built a strong and trusted relationship with Siemens Gamesa and have grown to become one of their biggest suppliers. “Working closely together, we’ve delivered a string of significant projects, with zero health and safety incidents. That is testament to the experience, skill and capability of our teams, as well as their total commitment to safety in every aspect of their work. “We look forward to continuing to support Siemens Gamesa with its global offshore wind energy operations, as part of the critical transition to renewable energy technologies.” The health and safety award recognised that no time had been lost on projects involving Boston Energy due to incidents and no deviations had to be made from normal operations as a result of a safety issue. Siemens Gamesa also praised Boston Energy for its proactive safety reporting, which ensures projects are delivered efficiently by skilled technicians, in line with relevant safety procedures. The company, which has its head office in Beverley, has provided more than 1.2 million hours of technical support to Siemens Gamesa since 2012. L’sSkegness Gateway unveils £151m flood defence plan
The owners behind the landmark Skegness Gateway scheme have revealed a £151 million Flood Risk Resilience Fund (FRRF) as part of a raft of measures that will help defend the development and wider Skegness area from the impacts of flooding.
The plans, which have been collaboratively developed with East Lindsey District Council and the Environment Agency, have been more than 12 months in planning.
The news follows the approval of a Local Development Order (LDO) for the scheme in March, announced at an executive meeting of East Lindsey District Council in Horncastle.
Agreement was given on more than £300m in socio-economic benefits for the region, alongside new homes, jobs, a crematorium and supported living provision. A new TEC college was granted planning permission for the site in February 2023.
The unique FRRF scheme will operate via an ongoing management fee, associated with the 1,000 properties planned for the 336-acre site. A specialist estate management company will be formed alongside this, which will manage the financial model and take an active role in flood risk strategy on site.
A proportion of the money received from the Gateway properties will allow funding agreements to be setup between East Lindsey District Council (ELDC), the Environment Agency (EA) and other vested interest parties for ongoing defence management and flood risk reduction over the lifetime of the development.
Sue Bowser, of Croftmarsh, said: “The Gateway team take the issue of flooding very seriously. It’s one of the key reasons we have generated this funding, which contributes positively to schemes that maintain and mitigate against the risks posed by flooding and water management.
“We’ve worked hard to come up with a solution that not only protects our development, but also our wider home of Skegness, closely collaborating with the Environment Agency and East Lindsey District Council.
“Regenerating the area is hugely important to us as a fifth-generation family in the area, and we’re pleased to see the acceleration of a scheme that will bring new homes, jobs and greater prosperity to our region.”
According to the latest Climate Change Risk Assessment, an estimated 1.8m people are living in areas of the UK at significant risk of coastal, surface or river flooding.
In Skegness, the Gateway’s Flood Risk Assessment (FRA) identifies the coastline defending the project to be 13.8km, running from Burgh Sluice to the main drain outfall at Ingoldmells. Estimates from the Environment Agency put defence management for the next 100-year period, from Saltfleet to the Gibraltar Point coastline, as ranging between £15m per kilometre to £40m per kilometre.
The contribution enabled by the FRRF scheme could cover 27.0% of the defence management at the highest rate and 71.9% at the lowest rate, depending on the approach and measures taken to flood prevention efforts in the region.
Neil Sanderson, also of Croftmarsh, added: “We understand the flooding risks posed to coastal communities across the UK and want to be active in the role we can play in mitigation efforts.
“What we have here is a solution that is bespoke for our town, allowing regenerative efforts to flourish whilst contributing positively to flood defence strategies being undertaken by public sector organisations.”
As part of the Gateway’s flood prevention efforts, a series of flood education and evacuation programmes will also be undertaken by the estate management team, extending to new homeowners as well as the wider population of Skegness.
Raised ground and flood compensation areas are all part of the Gateway’s proposals, aiding flood prevention onsite.
Councillor Steve Kirk, East Lindsey District Council portfolio holder for coastal economy, said: “I am delighted we have been able to agree this significant investment and commitment to help protect this landmark development and the wider area from flooding for many years to come.
“The risk of flooding and the devastating impact it can have must always be taken extremely seriously, and working in partnership with transformational projects like this we can help make real improvements and additions that will safeguard Skegness and its residents and businesses for generations to come.”
Chris Baron, chair of Connected Coast, said: “It is great that this level of commitment is being made to support flood resilience as part of the Skegness Gateway. We have such a fantastic opportunity to invest and deliver transformational improvements for the area through all of our work, and doing this responsibly and respectfully of the environment is crucial.”
Major sustainable office development approved for Leeds
Latitude Yellow – a new 12-storey sustainable office development by BAM – has been approved by Leeds City Council’s City Plans Panel.
The proposals will be located on the final remaining plot of the former Doncaster Monk Bridge works off Whitehall Road, in the established Leeds West End Business District. Developed by BAM, Latitude Yellow will provide over 200,000 sq ft of Grade A commercial office space.
Latitude Yellow has been designed to create the next generation of high-quality, sustainable office space. With a vision to be the most sustainable new workspace in Leeds, the development will achieve Net-Zero status from day one, totally eliminating the need for fossil fuels throughout the lifetime of the building and relying exclusively on renewable energy sources.
The development will target BREEAM Outstanding and a Nabers rating of 5.5. The design promotes sustainable and active travel, with minimal on-site car parking, premium changing facilities and secure cycle storage areas.
The development has been designed to offer exceptional amenities and access to outdoor space, with the inclusion of a gym, ground floor café, event space, and roof garden. Biodiversity-friendly features include green walls throughout the development and a new public realm.
Over 25% of the budget for Latitude Yellow has been allocated to local social value initiatives, so the development will directly benefit the local community.
The decision to approve the application was taken by the City Plans Panel on 11 April 2024.
Cllr James Lewis, Leader of Leeds City Council, said: “The development – which has now seen its planning application approved – will provide much needed, modern office space on brownfield land in a key location for the city centre.
“It’s encouraging the new building will be Net Zero, setting an example for future office developments on the road to a low carbon future. We welcome the steps they’re taking to ensure all energy and electricity used by the site will be sourced exclusively from renewable energy, as well as the commitment to sustainable construction.
“We look forward to seeing the building progress and further improving this part of the city centre.”
Managing Director of BAM Properties, Euan Miller, said: “We’re delighted that our application has been approved by Leeds’ City Plans Panel. Sustainability is at the heart of Latitude Yellow and our proposals have had a really positive response from both the local community and senior stakeholders in Leeds.
“In particular, we’re glad to see the City Plans Panel’s support for the promotion of sustainable city centre travel by limiting the amount of car parking spaces. We’re now aiming to begin work on site later this year.”
York commercial finance firm bolsters senior team
An experienced commercial finance broker has joined Ice Cubed Property Finance, to head up its SME and leisure offering.
Richard Swan brings with him over 20 years’ finance experience. An independent broker since 2017, Richard also has more than ten years’ experience at NatWest Business and Commercial Banking, specialising in commercial mortgages, leisure, property development & investment finance.
He will link up with the expanding firm which currently sponsors York Rugby Union Club and also York Knights Rugby League teams.
Tom Frank, Managing Director of Ice Cubed Property Finance, said: “Richard will be a fantastic addition to the senior management team and will help us to offer more products to clients, whilst building on our existing leisure finance specialism. This appointment will help us to reach our ambitious growth targets over the coming years.”
Richard Swan, added: “I was attracted to Ice Cubed Property Finance because of its recognised brand and market leading presence in the property and bridging finance sector.
“This is well aligned to my own background and given my previous experience in business and commercial banking, I’m excited to be able to widen the scope of the company’s finance offering to even more general trading and leisure businesses, via commercial mortgages, leveraged finance and cash flow solutions.”
