Private equity fund chooses Leeds-based cloud service provider for debut investment
Private equity fund, Kingland Capital has made its first investment into Dynamic Networks to support its organic and acquisitive expansion.
Kingland Capital, founded by experienced mid-market investor Paul Landsman in 2023, has supported a management buyout at the Leeds-based company. Led by David Smith and Gareth Leece the deal aims to create one of the fastest growing SME-focused cloud managed service providers in the UK.
Eddie Buxton, former CEO of Maintel plc, the AIM-listed cloud and managed service provider, will be joining as chairman. As part of this MBO, Hay Wain Group – a private family office – have invested alongside Kingland Capital.
Dynamic Networks, founded by James Baird and Gareth Leece, delivers cloud-led managed IT support, digital transformation services, cyber security and connectivity to the SME market. Dynamic Networks has delivered impressive organic growth with revenue CAGR of +40% between 2021-2023.
Kingland Capital is a private equity firm investing in the UK with equity cheques of up to £20m. Kingland looks for markets that support companies that can scale, with high levels of recurring revenue, in high growth sub-sectors where there is an opportunity to grow both organically and through acquisition.
David Smith, CEO of Dynamic Networks and leading the MBO, said: “Dynamic Networks has spent the last couple of years investing in their people, systems, processes and product portfolio and this investment will allow us to support the demanding needs of SMEs. I’m excited that this investment will underpin our plans to continue to grow both organically and through acquisition.”
Paul Landsman, founder of Kingland Capital, said: “We are thrilled to be backing Dave and his management team, together with Eddie in one of the best quality cloud managed services businesses in the UK we have seen.
“We look forward to helping Dave and the team develop the business organically and through complementary acquisitions over the next few years. We at Kingland, couldn’t be prouder to have Dynamic Networks as our first investment.”
Big Motoring World drives expansion with Available Car acquisition
Big Motoring World has agreed to acquire certain trade and assets of Midlands and Yorkshire used-car retailer, Available Car.
This acquisition follows Big Motoring World’s recent expansion into Wimbledon and adds 200 employees and a seventh and eighth location in Leeds and Cannock.
Founder and Chief Executive Peter Waddell said: “The news today highlights the next milestone in our nationwide expansion. We have a well-proven omnichannel technology-first business model that’s proved to be sustainable even in tough trading conditions.
“We look forward to bringing our car buying experience to the people of Yorkshire and the West Midlands as we continue to grow our business nationally. Available Car’s family-owned heritage, focus on high quality service, and large, well-located sites are an ideal foundation for our platform.”
Alpha Instrumatics sold to global group of life-saving technology companies
Alpha Instrumatics, a Bradford-based designer and manufacturer of devices for high-precision measurement of moisture found in gases, has been sold to Halma, a global group of life-saving technology companies.
Alpha Instrumatics’ advanced trace moisture analysis enables safer industrial operations, more efficient hydrocarbon transfer, and more accurate detection of pollutants. The group’s devices are used in growth markets including the industrial gas and aerospace markets, as well as aligned to the energy transition.
Hami Patel of Alpha Instrumatics said: “We are thrilled to become a part of Halma.
“Alpha Instrumatics has an ambitious growth strategy and the investment from Halma will help accelerate growth by providing broader market reach through their adjacent end markets.”
The transaction was led by Provantage Corporate Finance who advised the shareholders of Alpha Instrumatics – Amanda Betts and Lorna Marshall supported by David Browne.
Amanda Betts of Provantage said: “It’s been a pleasure to work alongside the shareholders’ of Alpha Instrumatics on this important transaction.
“Halma Plc is a fitting home for what is a truly exciting business, and we look forward to seeing the continued success that Alpha Instrumatics and Halma Plc will experience in the future through bringing these companies together.”
Hami Patel of Alpha Instrumatics added: “We extend our gratitude to the Provantage team for their dedication and efforts throughout this acquisition process; their expertise and hard work were instrumental in making this acquisition a reality.”
New improvement and compliance manager will lay firm foundations at Priestley Construction
Teagan Hudson has been promoted to improvement and compliance manager, which is a newly created role at contractor Priestley Construction.
Teagan will be responsible for updating and revising the company’s processes and systems to ensure they are as efficient and effective as possible. She will also oversee staff training and provide inductions to new recruits spanning Priestley’s procedures and policies.
In addition, she will manage the implementation of new IT solutions and software, as well as providing relevant training, to streamline how the company stores, accesses, monitors and distributes information internally and externally.
She will also explore and implement new standards from the International Organization for Standardization (ISO) that could benefit the company. Teagan joined Priestley Construction almost 18 months ago as a buyer and estimator.
Teagan said: “The construction industry is evolving fast, and companies must be as proficient and capable as possible in today’s market in order to be successful and genuinely add value to their clients and projects. This role is all about identifying and implementing potential improvements in a wide range of areas to make Preistley Construction even better at what it does.
“It feels very rewarding that the directors have created this new role and given me this opportunity to drive so many positive changes forward.”
Nathan Priestley, founder and CEO of the Priestley Group, said: “Teagan boasts a wealth of analytical skills and when this is combined with her superb attention to detail and overall knowledge of the construction industry, there’s no doubt this is a role that she’ll thrive in.
“We’ve shaped the job around her specific skillsets, and she will now be responsible for promoting, improving, updating, revising and monitoring all of our operational and commercial processes, with the overall aim of driving continuous improvement across our business. This makes it an exciting opportunity for both Teagan and Priestley Construction alike.”
Alternative finance provider moves to larger Leeds offices
Carter Towler has negotiated a 10 year lease deal on behalf of Reward Finance Group. Following 12 years of rapid continuous growth across the UK, the alternative finance provider has moved into larger offices at 12 King Street, Leeds.
Carter Towler director Richard Fraser said: “This has been a great deal to be involved with. It’s exciting to be able to assist a progressive Leeds-based company by facilitating its continued growth in this way.
“This is one of the highest quality office buildings in Leeds city centre with fantastic onsite amenities. I am sure that both Reward and its clients will benefit from all this exceptional property has to offer.”
Reward has taken 3,934 sq ft on the first floor of 12 King Street. The entire building has been extensively refurbished over the past 18 months with other new occupiers including Rothschild & Co and Endless.
Tom Flannery, non-executive chairman of Reward Investments Ltd, added: “We are extremely pleased to have secured these great new offices, they are so much more than a traditional office space.
“The developers, Opus North and Fiera Real Estate UK, had a vision to create something very different in Leeds and they have certainly achieved it. They have delivered a transformational working environment that meets the needs of a modern business like ours.
“We have much more flexible work and collaboration spaces and more wellbeing and networking facilities for our employees and clients to enjoy.”
Ryan Unsworth, Joint Managing Director of Opus North, said: “We are delighted to welcome Reward to 12 King Street. They are exactly the kind of innovative, achieving business we had in mind when we set about remodelling the property. We wish them all the very best with their continued growth.”
14,000 sq ft pre-let for Leeds’ City Square House
Barnett Waddingham, a professional services consultancy focussing on risk, pensions, investment and insurance, is taking 14,000 sq ft of prime office space at developer MRP’s City Square House in Leeds on a 15-year lease.
This is the one of the most significant pre-let office deals in the city during the past 12 months. It was brokered by the Leeds office of global property consultancy Knight Frank.
Barnett Waddingham, who are relocating from within Leeds, are paying £37 per sq ft with a 10-year break on the 15-year lease.
City Square House is a 140,000 sq ft speculative development and the only remaining undeveloped property fronting City Square.
The workspace will comprise Grade A office accommodation over 12-storeys including low carbon credentials, terraces on the 4th, 5th and 6th levels and extensive cycling, electric vehicle and e-bike charging point facilities.
Practical completion of this building, built by Design & Build contractors McAleer & Rushe, is scheduled for early next year.
Barnett Waddingham will be joining global law firm DLA and Markel, an SME-focused expert in providing integrated insurance, tax and legal services, in the building. Together, these two companies have taken a combined total of 103,000 sq ft.
Angus Monteith, development director at MRP, said: “We are delighted to welcome a company with such an excellent reputation as Barnett Waddingham to City Square House. This latest signing means the development is now 85% pre-let with a final 22,000 sq ft available.
“Securing a 15-year pre-let deal is a very significant and positive statement of intent in the long-term future prosperity of office space in Leeds and, indeed, in urban centres throughout the UK. As we near completion of construction in early 2024, we expect this strong demand for the best workspace will continue.”
Eamon Fox, partner and head of office agency at global property consultancy Knight Frank in Leeds, advised the landlord.
“The Barnett Waddingham deal completes a magnificent hat-trick of high calibre companies moving into City Square House. City Square House is the iconic new office development that the Leeds market has been waiting for.
“It is in a prime position, just off City Square and next to Leeds Station, and the remaining available space of 22,000 sq ft will help to address the pressing need for quality Grade A office space in the city centre.
“This is a significant deal for the city of Leeds, a vote of confidence in the city and its economy. Amidst this challenging economic climate, this is just the boost the whole region needed and a genuine cause to be optimistic about the commercial property sector in Yorkshire.
“The regeneration of the city centre of Leeds is now paying dividends for the city’s economy and reputation and City Square House, so brilliantly developed speculatively by MRP, is a shining example of what can be achieved with vision and courage.”
Earlier this year, Tom Riordan, Leeds City Council’s Chief Executive, said: “It’s brilliant to see the progress being made on City Square House which is one of the most prominent locations in Leeds city centre. Further investment into commercial space, record cranes on our skyline and the growing appeal of Leeds to global businesses, shows how our great city is really continuing to thrive economically.”
Oh yes it is! Lindum works flat out to make sure Peterborough panto can go ahead
Lincoln’s Lindum Group employees have been working 12-hour shifts alongside subcontract scaffolders and carpenters to get Peterborough’s Key Theatre ready for its busy panto season after the discovery of Reinforced Autoclaved Aerated Concrete in the building.
Lindum has been onsite since Monday, October 9th – just two weeks after receiving a call for help from Peterborough City Council.
So far 500 scaffolding boards, 2,640 metres of timber, 2,200 metal clips and 37,000 nails have been used to install specially-designed roof supports. The hand-painted timber frames provide additional support the 200 RAAC panels above.
Site manager Paul Anniss said a project of this scale would usually take twice as long but that efforts were being accelerated so the Christmas showing of Aladdin could open as planned on Saturday, December 2nd.
He said: “We are pleased to be able to help and are really grateful to our own workforce and our subcontractors who have worked quickly to get the project mobilised,” he said.
“Because Lindum employs many of its own construction staff, we were able to assemble a team quickly by reorganising staffing on other projects. We are operating split shifts, meaning we have people on site from 7am to 7pm every day.
“The first week involved installation of the scaffolding to create a 20 ft-high platform for the team to work on. Subcontractors XL Scaffolding Ltd have created an impressive structure spanning the entire auditorium, across all the seats, the orchestra pit and the stage.
“They had to navigate the theatre’s stage lighting rigs and all the power cables that run through the building. The amount they’ve used would be the equivalent to scaffolding 10 two storey houses and they even had to order in new boards especially for the project.
“Once this was in place, the team from Vangard Carpentry Ltd began their work, using 550 lengths of timber to build a frame to attach to the roof’s steel beams.
“Each timber beam is 4.8m long and is being painted black on every edge in a cabin outside the theatre’s stage doors. Once he’s finished, the decorator from Expressions Decor Ltd will have painted a total linear length of 10,560 metres of wood – equivalent to 6 and a half miles or 115 football pitches!”
He added: “Work is going well, and we are on track to finish on time. If all continues to go to plan, I will be first in the queue to buy panto tickets!”
Leeds City Council orders firms to vacate green belt land in Lofthouse
A coach depot, scaffolders, and stone cutters have until April 13 next year to leave sites on land off the A61 Leeds Road in Lofthouse after planning enforcement action by Leeds City Council.
The Council says the green belt land, owned by Marsh Investments Wakefield Limited and Searchagain Limited, has been used without the necessary permission, and is prepared to follow the matter through the courts if enforcement notices aren’t complied with.
It’s said that the land has for a number of years been home to businesses including a coach depot, a scaffolders and a stone cutters.
Noise and fumes have been a long-standing issue for residents living in nearby homes, while concerns have also been voiced about the 1.8-hectare site’s impact on the openness of the green belt.
Having established that some of the business activity at the site was taking place without the necessary planning permission, the council issued a series of enforcement notices in October last year that were designed to halt these unauthorised uses.
Appeals against the notices were subsequently lodged by the companies that own the land. Those appeals have been rejected by a government-appointed independent planning inspector following a public inquiry process, which means various buildings, containers, fencing, waste and gates must also be removed from the land. Two businesses – a car wash and a tyre depot – will be allowed to continue operating.
The rejection of the appeals was confirmed to the council in a letter from the planning inspector on October 13. In the letter, the inspector writes: “Evidence was presented regarding the effects of the various businesses on the living conditions of the nearby residents – this was in relation to the scaffolding, stone working, and coach hire businesses but not specifically in relation to the tyre business when considered alone.
“There was evidence regarding the unacceptable levels of noise made by the businesses but also evidence in relation to the fumes, and the visual impact on the character and appearance of the area caused by the proximity of the unauthorised developments.”
The letter adds that operations at the site have been causing “visual and spatial harm” to the openness of the green belt.
Councillor Helen Hayden, Leeds City Council’s executive member for sustainable development and infrastructure, said: “The council takes its responsibilities as a planning authority extremely seriously, with every effort being made to swiftly and effectively investigate potential regulation breaches.
“The issuing of these enforcement notices was a proportionate and expedient measure, and one that was only set in motion after our previous attempts to negotiate a solution to the problems at the site proved unsuccessful.
“Enforcement is often complex and long work. I’m pleased we have enforcement officers in Leeds working diligently on cases like this and I would like to thank them for their work here and across the city.
“We are pleased that the notices have now been upheld by the planning inspector in a decision that will provide some welcome certainty for local residents.”
Region gets two cash injections to boost industry R&D
West Yorkshire and Lincolnshire are two of eight regional clusters of world-class innovation across the UK being backed by a share of £75 million to boost local economies and pioneer game-changing solutions from healthcare to net zero, UK Science Minister George Freeman has announced.
A Health Technologies Launchpad will be based in West Yorkshire, and dedicated to pioneering breakthroughs in technologies that will improve healthcare outcomes.
In Lincolnshire the Agri-tech and Food Tech Launchpad will revolutionise agri-tech and food technology, driving innovation in food production and sustainability
Launchpads is a programme that supports emerging clusters of SMEs by providing each Launchpad up to £7.5 million from Innovate UK to fund innovation projects led by local businesses.
The £7.5 million bespoke funding from each Launchpad will allow SMEs in each region to bid for support that is tailored to the unique needs of each business cluster, helping them drive innovation, expand operations, and boost their local economies.
Launchpads concentrate their support in specific areas of the UK with strong innovation capabilities. This approach encourages close collaboration with local leaders and provides tailored support, including funding for research and development, access to specialised innovation resources, and opportunities for SMEs to connect, share ideas, and participate in joint ventures.
George Freeman MP, Minister of State at the Department for Science, Innovation and Technology, said: “The UK science, research and innovation economy is not just the ‘golden triangle’ of Cambridge-Oxford-London. It is all around the UK.
“From Glasgow satellite manufacturing to Manchester materials, Teesside hydrogen and Liverpool life sciences, alongside as many as 25 other globally recognised hubs around the UK – we have world class R&D – and supporting these regional clusters of world class innovation is central to our plan to make the UK an ‘Innovation Nation’.
“That is why we have launched our flagship Launchpads programme – and this £75 million investment will support high-growth companies to build the industries of tomorrow – in sectors from renewable energy through to digital health. These Launchpads will play a pivotal role in growing our local economies, creating jobs and levelling up the UK.”
Retailers told of tougher stance against shoplifting in Retail Crime Action Plan
Policing Minister Chris Philp has met senior police leaders and 13 of the UK’s biggest retailers to launch the Retail Crime Action Plan.
The plan includes a police commitment to prioritise urgently attending the scene of shoplifting instances involving violence against a shop worker, where security guards have detained an offender or where attendance is needed to secure evidence. Police attendance will be assessed based on risk, and prolific or juvenile offenders will be treated with elevated priority.
Police have also reaffirmed their pledge to follow up on any evidence that could reasonably lead to catching a perpetrator. Forces will step up targeted hotspot patrols in badly affected areas.
The plan sets out advice for retailers on how to provide the best possible evidence for police to pursue in any case. They should send CCTV footage of the whole incident, and an image of the shoplifter from the digital evidence management system, as quickly as possible after an offence has been committed.
Where CCTV or other digital images are secured, police will run this through the Police National Database using facial recognition technology to further aid efforts to identify and prosecute offenders – particularly prolific or potentially dangerous individuals.
A specialist new police team is also being created to build a comprehensive intelligence picture of the organised crime gangs that fuel many shoplifting incidents across the country, to help target and dismantle them.
The initiative, called Pegasus, is a business and policing partnership that will radically improve the way retailers are able to share intelligence with policing, to better understand the tactics used by organised retail crime gangs and identify more offenders. This will include development of a new information sharing platform and training for retailers.
Spearheaded by Katy Bourne, the Business Crime lead for the Association of Police and Crime Commissioners, Pegasus is the first national partnership of its kind. It is backed by the Home Office, John Lewis, the Co-op, M&S, Boots, Primark and several more, who have collectively pledged to provide over £840,000 to get the initiative off the ground.
Crime and Policing Minister Chris Philp said: “I want a new zero-tolerance approach to tackling shoplifting. It is a blight on our high streets and communities and puts the livelihoods of traders at risk. I am determined to drive forward change.
“While it is encouraging to see a 29% increase in charges for shoplifting in the past year, the rise in offending is unacceptable and there is much more to do to stop it happening in the first place.
“That’s why we’re taking action and bringing together government, policing and business to commit to smarter, more joined up working when it comes to retail crime, which will help to drive down criminal behaviour and rebuild public confidence in the police response when it does occur.”
