New invoice finance company appoints managing director
East Yorkshire-based One Stop Business Finance (OSBF) is continuing its impressive expansion plans after the launch of a new invoice financing company and a doubling in the size of its team.
Since the SME funding specialist was founded seven years ago, it has enjoyed sustained profitable growth UK-wide which has provided the platform for OSBF to fund the next stage of its expansion.
And now the new company in the group, One Stop Invoice Finance Limited, will be headed by Lynn-Marie Jameson as managing director.
Lynn-Marie has worked in the invoice finance sector for almost two decades and brings with her an in-depth knowledge of the invoice finance market, including a wealth of experience in leadership.
Lynn-Marie said: “I am delighted to be joining a team of highly experienced professionals at such an exciting time. The opportunity to help shape the future of the business by creating another solution to support SME businesses is one that I relish.”
Along with working in the independent invoice finance market providing funding solutions for SME businesses, Lynn-Marie also brings extensive experience of working in High Street banks, supporting mid to large corporate businesses.
Andrew Mackenzie, the group managing director of One Stop Business Finance, said: “The business has continued to grow rapidly, despite the impact of the pandemic on our working capital lending and, as with all our expansion to date, our future recruitment will be funded fully from the cash that we have generated.
“Our invoice finance plans have been accelerated by a couple of years because we have found an exceptional candidate in Lynn-Marie at an opportune moment.”
North Lincolnshire businessman to be CEO of sheep society
North Lincolnshire businessman Barrie Turner has been named as CEO designate of the Suffolk Sheep Society Ltd, starting in the role on August 8th.
Barrie, pictured, has a wealth of experience in the Agri-sector and the pedigree livestock world, including four years as CEO of the Aberdeen-Angus Cattle Society. He is fully aware of the mechanics and workings of a leading pedigree Breed Society and has already told the Society that he is looking forward to concentrating on the Suffolk Breed itself as well as engaging with the membership and focusing on their needs and wants.
Although Barrie does not officially take up his new post until 8th August, he is very much looking forward to the benefits of a hand-over period with the current CEO and he is planning to attend the Society National Show & Sale in Shrewsbury on the 29th & 30th July.
Progeny set for international expansion with plans to acquire The Fry Group
Leeds-headquartered multi-disciplinary professional services firm, Progeny, has revealed plans to acquire The Fry Group, marking its expansion into international markets.
The deal, subject to regulatory approval, will allow Progeny to extend its boundaries beyond the UK and increase its total assets under management to more than £5.5bn.
The Fry Group are tax, estate and financial planning experts, with a team of 191 employees across four offices in the UK (London; Worthing; Cheltenham; Exeter) and four international offices (United Arab Emirates; Singapore; Hong Kong; Belgium).
Established in 1898 by Thomas Fry, the award-winning group is one of the oldest wealth management firms in the world.
David Pugh, CEO, The Fry Group, said: “The Fry Group and Progeny are a great fit and we’re excited about this next stage in our journey.
“We are both values-based businesses with a sharp focus on clients, building trust and long-lasting relationships with them and aiming to always exceed their expectations.
“The wellbeing of our team is a priority and in this area we have more common ground with Progeny, who share our passion for attracting, inspiring and developing exceptional people.
“I’m looking forward to the new possibilities, the additional services we can offer our clients and the scope for scaling up that joining Progeny will bring.”
Neil Moles, CEO of Progeny, said: “We’re proud to announce the international expansion of the Progeny brand and what better way to do it than with a business as prestigious and long-established as The Fry Group.
“This is a thrilling new front for us, which will bring fresh new opportunities for our clients, our team members and for Progeny as a growing and ambitious firm.
“We are always focused on new horizons and on pushing ourselves to meet fresh challenges. Our aim is not just to help our clients meet their existing goals but to create the aspirational and supportive environment for them to achieve new ones.
“I’m delighted to welcome The Fry Group to Progeny and look forward to delivering on our joint potential and to the progress we can make together.”
A team from Progeny’s corporate legal department acted as legal adviser to Progeny on the transaction.
Saltaire-based digital manufacturing solutions provider snapped up
ITI, one of the UK’s largest independent systems integrators, has acquired Cimlogic, a Saltaire-based digital manufacturing solutions and services provider to some of the world’s largest manufacturers.
This acquisition will enable the group to provide a wider, end-to-end portfolio of digital solutions that advance customers’ operations and have the ability to transform the way manufacturing and national infrastructure operates in the rapidly changing world.
Group CEO Andrew Mills said: “This is fantastic news for both ITI and Cimlogic. Together, we can use our collective expertise to ensure our clients properly utilise their data to automate their operations, delivering return on investment and improved service to their own customers.”
Mike Hodge, CEO and major shareholder of Cimlogic, who will become ITI Group CTO, said: “Following 20 years of relentless effort and ambition to connect manufacturers with the most suitable, latest technology, we’re excited to become part of the ITI Group. Working with ITI means we can accelerate the expansion of our business and provide a wider portfolio of solutions and services to new and existing clients.”
Andrew agreed: “This collaboration will enable us to deliver an expanded and integrated service to all our customers using innovative technology, to digitally transform, inspire and enable businesses to be the global leaders of tomorrow.”
Mark Hardy, chairman of the ITI Group, said: “I’m delighted that Mike and his team at Cimlogic have decided to join the Group. The additional capabilities and industry experience significantly enhances ITI’s scope and capability. Over half the Group’s business will now be focussed on advanced digital solutions, providing analysis, simulation and operational management capabilities that add significant business value to customers.
“The addition of Cimlogic’s unique “RAISE” methodology to the overall portfolio will assist customers embarking upon digital transformation to navigate their requirements in a structured and cost-effective manner. At the same time our automation, control and safety systems activities continue to grow, with multiple new projects being secured for critical infrastructure customers in recent months. I’m pleased to see the business executing on its strategy and expanding rapidly despite the difficult general economic climate.”
Contractor appointed to build new dementia day care facility in Kirklees
Kirklees Council have appointed a contractor to build new dementia day care facilities in North Kirklees.
Tilbury Douglas is a UK building, infrastructure, engineering and fit-out business. They will start work by demolishing the existing Knowl Park House building on Crowlees Road in Mirfield this summer.
Construction will then begin on a single-storey dementia daycare facility. This will include zones for wellbeing, home therapy and activities as well as outdoor space that will house a potting shed and a greenhouse. This space will be flexible to accommodate the physical disability, sensory and mobility needs of the people who use these services.
Tilbury Douglas will also build the co-located Kirklees Living Well Centre. The centre will provide modern facilities to support, advise, develop and train family carers and care staff, partners, families and the wider community to maintain their independence in the community with a strong focus on the use of assistive and digital technologies.
Councillor Musarrat Khan, cabinet member for health and social care, said: “I’m delighted we are taking the next steps to build modern facilities that will meet the needs of service users living with dementia in North Kirklees.
“It’s important that we invest in the wellbeing of our vulnerable and elderly residents. The new dementia day care facility is a vital space that will enable service users to live well for longer whilst providing much needed daily respite for carers.
“The new Kirklees Living Well Centre will complement day care facilities by taking full advantage of new assistive technology to enable users to live better and more independent lives.”
Paul Ellenor, regional director at Tilbury Douglas, said: “We’re delighted and proud to have been selected by Kirklees Council as their partner to build and deliver this scheme. The new facility will greatly transform dementia care for the local community and provide staff, service users and healthcare professionals with a new exciting state-of-the-art environment.”
Redmayne Bentley chooses Wellington Place for new headquarters
Redmayne Bentley, one of the UK’s largest independent investment management firms, has relocated its Leeds head office to the Wellington Place urban quarter.
The organisation has taken 11,700 sq ft of Grade A office space at 3 Wellington Place, completing its move last week.
Established in Leeds in 1875, Redmayne Bentley has offices across the UK, and has a long connection with the city, with its head office always being based in the city. The firm previously had offices in Albion Place, Merton House and Butts Court on Albion Street before moving to Bond Court in 2011.
Paul Pavia, commercial director at MEPC, the developer and asset manager behind Wellington Place, said: “Redmayne Bentley is a long-established business with its roots in Leeds and is recognised as a key player in the city’s financial sector, so we couldn’t be more pleased that they have chosen Wellington Place as its head office.
“Wellington Place is a leading destination for major public and private sector organisations, from the likes of HMRC to international giants such as Allianz. We look forward to welcoming others to join our community.”
Liz Dean, director of HR at Redmayne Bentley, said: “The team at Redmayne Bentley is vital to our success. Our new office at Wellington Place provides a high-quality environment and tools for those who choose hybrid working while supporting the fantastic culture and wellbeing of our people. We also look forward to welcoming clients and business contacts into our new space.”
The agent letting for Wellington Place was JLL, with Knight Frank acting for Redmayne Bentley.
Jeff Pearey, director of letting agents JLL, said: “Attracting Redmayne Bentley to Wellington Place is another endorsement of the quality of buildings, location and environment that the development offers.
“As occupiers continue to drive the re-occupation of their offices, it is essential that business decision makers recognise that it is about more than just the office itself but also the wider surroundings and amenity that will assist with the retention of staff. Redmayne Bentley is joining a growing number of businesses that already enjoy what Wellington Place has to offer.”
Jonathan Hyland, partner of global property consultancy Knight Frank in Leeds, said: “We’re very pleased to have worked with Redmayne Bentley and MEPC to secure this space at Wellington Place.
“As a business that is passionate about employee wellbeing, the sense of community offered by Wellington Place really stood out to Redmayne Bentley, whose staff will be able to benefit from the range of events and initiatives on offer year-round.
“In addition, having been well-established in Leeds since its inception almost 150 years ago, the central location, range of amenities, high-quality office space and access to neighbouring companies offered by Wellington Place will make it the ideal place to support Redmayne Bentley as it begins this exciting next chapter.”
Wellington Place is a sustainable business community being built in central Leeds. Once complete, the scheme will boast a total of 1.5 million sq ft of commercial, retail, leisure and residential space and be one of the biggest new city centre business quarters in Europe.
York-based communications provider secures investment for growth
Mid-market private equity firm LDC has made a significant minority investment in Cellhire, a provider of mobile Voice and Data and Internet of Things (IoT) communications services.
Headquartered in York, Cellhire offers high-speed and secure ways for businesses and partners to stay connected worldwide. It has built key partnerships with UK mobile network operators (MNOs) Vodafone, O2 and EE through long established ISP agreements.
Internationally it has developed partnerships with more than 40 MNOs and rolled out its first Full MVNO on the Orange network in France. Recently it has worked with China Unicom at the Beijing Winter Olympics and has established a commercial agreement with Qatari MNO Ooredoo for the FIFA World Cup.
Cellhire serves customers across multiple distribution channels including B2B, B2C, White Label, Partner and M2M/IoT wholesale airtimes from offices in the UK, Germany, France, Japan and the USA.
In recent years the business has invested in the development of Atlas, its Billing and SIM Management Platform as well as expanding its M2M, IoT and eSIM capabilities. This has underpinned strong growth with turnover increasing by 42% between 2019 and 2022, from £19.1m to £27.1m.
LDC is backing the existing management team, led by chairman Tim Williams and group CEO Martyn Stevens. The investment was led by Dan Smith, partner and head of Yorkshire at LDC, alongside investment director Will Scales and investment manager Ana-Maria Garaba.
Tim Williams, chairman at Cellhire, said: “Our team has worked incredibly hard over the last couple of years to strengthen our range of products and services. With LDC’s support we’re now at an exciting stage of our journey to broaden our proposition through technology and service.”
Dan Smith, partner and head of Yorkshire at LDC, added: “We are excited to be backing Tim, Martyn and their team. They are at the forefront of innovation in the sector and we see there is huge scope to grow the business particularly as the business develops its IoT offering and the market opens up to a growing number of use cases. We’re looking forward to supporting them as they continue to expand their proposition across the world.”
Cellhire was advised by KPMG, CiL and Addleshaw Goddard.
LDC was advised by Alantra, Squire Patton Boggs, Strategy& and Grant Thornton.
Eddisons acquires Budworth Hardcastle in £1.8m deal
National property consultancy Eddisons has acquired commercial property firm Budworth Hardcastle in a £1.8m deal which significantly strengthens Eddisons’ presence in Peterborough, Kettering and Northampton.
Budworth Hardcastle will integrate its team with Leeds-headquartered Eddisons, which has a network of 25 UK offices. The Midlands firm was established in the 1990s and has a strong reputation as a full- service agency with in-depth regional market knowledge.
The acquisition builds on Eddisons existing strength in the Eastern region where it has offices in Cambridge, Huntingdon, Bury St Edmunds and Peterborough. The combined team will be led by Eddisons director Steve Hawkins and provide a full range of property services.
Eddisons MD Anthony Spencer said: “I am very pleased to welcome the Budworth Hardcastle team to Eddisons, which extends our footprint in Eastern England. They are a highly experienced team with a proven track record in delivering high quality professional advice. We continue to seek further opportunities for expansion across the UK.”
The addition of Budworth Hardcastle to Eddisons’ operation follows the firm’s acquisition of South Coast-based firm Daniells Harrisons earlier this year and East of England commercial property agency Barker Storey Mathews in 2019. Eddisons now employs over 360 people and is one of the UK’s fastest growing property consultancies.
Budworth Hardcastle director Mark Budworth said: “We have built up an unrivalled presence in the region through the passion of our talented team of people. We are excited to be joining Eddisons, and realising the opportunities that this deal presents.”
Specialist team plans to help South Yorkshire businesses develop new products
A team of specialist technicians has been appointed to help South Yorkshire businesses develop innovative products and tools at a newly-opened digital innovation makerspace.
Hands-on tech experts from Brighboxhave been tasked with providing one-to-one support plus regular workshops and short programmes at the MakerLab facility on Barnsley’s Digital Campus, The Seam.
Their role will include helping businesses, startups and individuals explore how digital opportunities such as 3D printing, laser cutting and augmented reality can be used to design, make and test news products, operating systems and assets for their businesses.
The MakerLab, which opened at DMC 02 three months ago, has been financed as part of the region’s ERDF-funded Digital Innovation for Growth programme delivered in partnership with Barnsley Council and Sheffield Hallam University.
Kisha Bradley, founder and CEO of Brightbox, said: “We are very excited to be involved in the Digital Innovation for Growth service and look forward to working with innovative businesses in the MakerLab.
“This is such an inclusive place and access to its amazing equipment is for everyone, not just techy businesses and techy people. We all use tech in our businesses now, and our role is to help people with all levels of technical knowledge to explore how digital innovation could help them create new products, solve problems and make their working lives easier.”
Backed by the DIfG funding, BrightBox technicians will provide up to 12 hours of free one-to-one support for entrepreneurs and business owners in the MakerLab, and also deliver a programme of free workshops and short programmes over the next 12 months.
Monthly ‘Getting Started with..’ workshops will cover everything from laser cutting to CRM software and CNC machining to creating tools for creative practice. The next one is ‘Getting Started With CAD’ on Tuesday July 12th.
SME champion calls for post-Covid moves to steer UK from recession
The UK’s largest business group and academics are urging the Government to learn lessons from the implementation of COVID-19 health measures in order to create a commercial regulatory environment that will steer the economy away from recession.
The Federation of Small Businesses says more than a third of small firms found it quite or very difficult to understand the regulations relating to COVID security, according to a joint study from FSB, Newcastle University and the University of Birmingham.
One in five of almost 1,000 small businesses surveyed for the report say the line between advisory guidance and regulatory requirements during the pandemic was ‘totally unclear’.
That lack of clarity led to a tendency to ‘gold plate’ by some small firms – going beyond minimum requirements for fear of falling short – which comes at a cost in terms of worry, time and money.
The health and education sector struggled most when it came to compliance with COVID measures – four in ten reported difficulty in taking the appropriate action. One small firm interviewed as part of the study expressed their frustration around continued lack of certainty when it comes to negotiating working from home arrangements with employees.
About 18% of small firms ranked furlough as one of the most useful and at the same time, one of the most difficult pieces of regulation. The move to flexible furlough helped, as it removed unnecessary restrictions that prevented some small businesses from taking advantage of this vital lifeline.
Highlighting the resilience of the small business community, some found that, having adapted to the initial shock of engaging with a raft of new regulations, their new circumstances opened up novel opportunities to implement changes/innovations that they would maintain post-pandemic.
More than 80% of businesses relied on more than one source to find out about regulatory changes during the pandemic. Nearly three quarters relied on GOV.UK while half relied on business representative organisations such as FSB, which were reported to have tailored their language and regulatory information so that it was more useful to small businesses.
In light of the findings, FSB, Newcastle University and the University of Birmingham are urging governments and regulators across the UK to:
- Clearly communicate the distinction between actions that a business must take, and the steps that a business might choose to take, when changing or introducing regulatory requirements.
- Make effective use of intermediary bodies when communicating changes to regulation.
- Publish illustrative examples of compliance to help small firms understand what good practice looks like
- Introduce grace periods after regulatory changes are introduced to avoid penalising those doing their utmost to comply.
- Minimise restrictions or red tape on schemes that are designed to help businesses, like furlough.
