ABP appoints new Head of Marine in the Humber
Steven Clapperton has moved from the role of Director of Marine Operations with the Port of London Authority to join ABP as Head of Marine in the Humber.
He arrives in the Humber as an experienced maritime industry leader with over 30 years’ experience in the sector to lead the Marine team made up of more than 300 people and includes the Humber Marine Pilots.
Prior to the Port of London Authority, Steven worked at the Port of Tyne, where he was Maritime Director and Harbour Master. Before this, he had an extensive and varied seagoing career, working as a harbour pilot, and spent time working in marine consultancy, including a period on secondment to an international oil major.
Simon Bird, ABP’s Regional Director, said: “Steven brings a wealth of experience to the role, having been a pilot and a Master Mariner; and with his strong background in port management, it’s great to appoint him in the Humber, the UK’s busiest port complex.
“His leadership and knowledge in such an important role are vital for overseeing the shipping movements in what is the UK’s busiest trading estuary with 17% of the seaborne trade coming through our ports. I want to thank Fred Firman who has covered the role since the former Head of Marine, Paul Bristowe was appointed as Chief of Staff (Group).”
Mr Clapperton said: “I am excited to be to joining ABP as Head of Marine Humber, as we embark on the delivery of our five-year strategic plan. I’m particularly focused on safety-led cultures and working collaboratively to make the right decisions in relation to our values.
“I’m looking forward to meeting our customers and stakeholders, collaborating with new colleagues, and working together to deliver safe, efficient, and cost-effective marine operations, contributing to our twin missions of Keeping Britain Trading and Enabling the Energy Transition.”
Steven has held several voluntary roles including being a Trustee of the Tyne Rivers Trust and is a member of the board of the Guild of the Institute of Marine Engineering, Science & Technology (IMarEST). He is a Master Mariner and Associate Fellow of the Nautical Institute and is a passionate advocate for seafarers’ welfare and for the health of our rivers.”
ABB acquires businesses in Bolton
Professional services firm AAB has acquired Bolton-based Barlow Andrews and its sister entity Beech Business Services.
Established for more than 100 years and employing 70 people, Barlow Andrews and Beech Business Services provide audit & accounts, tax, payroll, outsourcing and business advisory support to a wide range of SME clients in the North West. The businesses join AAB, which has offices in Leeds, with immediate effect and will continue trading as Barlow Andrews and Beech Business Services for a set transition period.
John Beevers, Head of Professional Services at AAB said: “We are excited to announce the acquisition of Barlow Andrews, which marks an important milestone in our strategic expansion in the North of England, helping AAB to realise our ambitious 2030 growth strategy. By combining our expertise with Barlow Andrews’ deep knowledge of the North West region and its market, we are confident we will drive continued innovation and success for our clients. We look forward to building on this strong foundation and pursue exciting growth opportunities across the North West.”
Chris Harland, Managing Partner at Barlow Andrews added: “Over the years, we have built a strong reputation in the North West by focusing on delivering great results and fostering close relationships with our clients. In AAB we’ve found a partner that not only aligns with our vision but also offers the resources and expertise to broaden the support we can provide to our clients. Together, we will continue to prioritise the needs of our clients and continue to deliver high-quality tailored advice.”
Since securing investment from August Equity in 2021, AAB has trebled in size and now employs more than 1,000 people across the UK, Ireland and internationally. The rapid growth journey is set to continue as part of delivering its ambitious growth strategy for 2030.
Government consults on plans to modernise pension schemes
The UK government is fast-tracking plans to modernise its own pensions system by broadening access to Collective Defined Contribution schemes.
CDC pension schemes were first introduced to the UK in 2022, and have the potential to deliver reliable returns for savers, while ensuring more predictable costs for employers.
Today, industry experts, savers and pension providers can have their say on new proposals to extend the current offering of CDC pension schemes to more employers, delivering better value for money for future pensioners and unlocking huge investment potential.
In Canada, the funds from pooled pension contributions are invested into a wider range of assets like infrastructure, startups and private equity – which can benefit the wider economy and boost returns.
Extending CDCs could similarly allow for greater return on investment for those saving into the schemes and allow for larger investment in the UK – supporting the Government’s growth mission to boost the economy.
Minister for Pensions Emma Reynolds said: “We are seizing this opportunity to modernise our pensions market to deliver better outcomes for millions of workers. People work hard to put money aside for their pension with every pay cheque. This significant innovation will offer a more predictable income and greater finance security for future pensioners.”
Currently only single or connected employers can set up CDC schemes, with the first scheme launched by the Royal Mail yesterday.
Building on the significant appetite from industry for extending CDC provision, the Government is now seeking to broaden access further by allowing unconnected multiple employer schemes – making this pension model more accessible to a wider range of businesses and employees.
This work builds on plans to review our pensions landscape as well as our new Pension Schemes Bill which could boost pension pots – with further consolidation and broader investment strategies to possibly deliver higher returns for pensioners.
The consultation seeks views from employers, industry experts, pension providers and the public on draft regulations and their potential impact.
The consultation will run for six weeks – running until 19 November 2024.
UK agriculture is at a crital crossroads, warns industry expert
As many as one in ten UK farmers could abandon the industry ahead of the new government’s Autumn Budget on the back of Capital Gains Tax and reduced subsidies, putting the future of British agriculture at risk, according to an agriculture expert.
Mark Chatterton, Head of Agriculture at Duncan & Toplis accountancy and business advisers, notes that a significant proportion of farmers in the East Midlands are currently considering selling their land, giving it to the next generation, or contracting out to bigger businesses.
He said that as farmers grappled with economic uncertainty, faced shrinking financial support and two successive poor harvests, the sector simply can’t survive without urgent investment. “The future of British farming is at a critical crossroads. This Autumn’s Budget could deliver a devastating blow if Capital Gains Tax is hiked as expected. Farmers are already struggling after poor harvests and diminishing subsidies—another financial hit may push many out of the industry for good.
“Confidence is at an all-time low, with DEFRA figures showing that nearly half of farmers fear for the future and the NFU revealing that confidence in the sector is at its lowest since records began. The Sustainable Farming Incentive is the last lifeline for many, but even that is only guaranteed for three more years. Without urgent investment, we could see a collapse in agricultural production.
“The new government has vocally affirmed the UK’s agricultural sector as a matter of the utmost national security – and I couldn’t agree more. I’d urge the government to apply firm and consistent support for the sector when it needs it most.
“For struggling farmers, we’re seeing an increasing number taking stock of their options. Those without clear succession plans seem to be considering seizing the opportunity to capitalise on historically high land prices before it’s too late. This makes sense to a degree, as waiting could prove a costly mistake if the Autumn Budget diminishes financial prospects further, but what could this mean for the sector as a whole?”
Mark Chatterton’s comments come as speculation grows that this year’s Autumn Budget will include major tax reforms, with Capital Gains Tax possibly rising to 45% and changes to Inheritance Tax expected to bring more farmers into its scope.
“Although the government has promised new measures to boost confidence in agriculture, it has yet to provide clear timelines. Chatterton says, “Farmers are hoping the Autumn Budget will turn these promises into reality – one with clear and decisive deadlines and deliverables.”
Leeds office building bought for £78m
Ashtrom Properties UK has acquired Central Square in the heart of Leeds’ financial district for £78m. The landmark office building transaction represents the largest office investment deal in the city for more than 5 years.
Guy Lewinsohn, CEO of Ashtrom Properties UK, said: “We remain committed to strategically investing in the UK’s regional markets, confident they offer substantial opportunities for sustainable growth and long-term value creation.”
CBRE and Knight Frank acted for Ashtrom Properties UK on the purchase. Savills acted on the sale.
Central Square comprises 217,249 sq ft of Grade A office accommodation across 11 upper floors above 13,126 sq ft of retail, restaurant and ground floor leisure units.
It has one of the largest column free floor plates in the city of circa 25,000 sq ft and houses a Winter Garden and Sky Garden with break out and entertainment space for tenants along with 128 basement parking spaces. It has exceptional sustainability credentials including BREEAM Outstanding and EPC A.
Located off Wellington Street and Whitehall Road, Central Square is close to Leeds Station and Trinity Shopping Centre in Leeds City Centre. Current tenants include Marks & Spencer PLC, PWC, RSM UK Management, Freeths, GXO Logistics, Sky, Sanderson Weatherall, BDO Services.
Guy Lewinsohn, CEO of Ashtrom Properties UK, added: “The successful acquisition of this prominent building in the heart of Leeds marks a significant step in our ongoing commitment to invest in the future of the UK’s regional city centres, which we believe are poised for strong growth.
“I would like to extend sincere appreciation to the vendor for their professionalism and collaboration throughout this process, which ensured a smooth and mutually beneficial transaction.
“A special thanks goes to our in-house team, whose dedication and expertise were instrumental in driving this acquisition forward. Their commitment, along with the support of our external partners, guided us to a successful outcome.”
Will Kennon, Executive Director, CBRE, said: “Central Square is one of the best regional office assets located outside of London. Leeds is experiencing significant growth across all metrics, and the office market is facing an acute shortage of prime office space which we believe will lead to continued strong rental growth over the next cycle.
“With the market facing continued development viability challenges, we consider this acquisition will deliver strong risk adjusted returns over both short and long term. We are delighted to have helped Ashtrom Properties UK secure this exceptional asset, to add to their strong UK office portfolio in line with its current strategy to invest in core regional cities.”
Henrie Westlake, Head of the North Knight Frank LLP, said: “The acquisition of Central Square by Ashtrom Properties UK aligns with their strategic decision to selectively invest in the UK Office market. As a long term holder of assets, the strategy is driven primarily by the strong underlying market fundamentals that will drive rental growth for prime assets.
“Notwithstanding this, there is no question that a normalised market will see significant yield compression that will further validate this approach. This will almost certainly be viewed as the bellwether deal of this cycle.”
Progeny appoints Director of Data and Digital
Progeny has appointed Phillip Liu to the role of Director of Data and Digital.
A newly created role, the Director of Data and Digital will lead an increasingly data-driven approach and provide strategic leadership to Progeny’s data team.
With over 20 years in data leadership, Phillip Liu is an experienced transformational data change leader and was previously at Atlanta Group as Director of Data. He has also held leadership roles for Yorkshire Building Society, General Electric and International Personal Finance.
In his new role at Progeny, Phillip will have responsibility for overseeing, building on and enhancing the group’s data capability, to help inform and support Progeny’s continued growth.
He will also act as Data Protection Officer, overseeing all aspects of data stewardship, data quality and data protection.
Phillip Liu said: “I’m excited to start my journey at Progeny and to lead on data and digital as an integral pillar in our global expansion. My focus will be on enabling continued growth and driving value creation in the data and digital landscape as part of Progeny’s ambitious plans for the future.”
Tim Gillman, Chief Operating Officer, said: “We’re delighted to welcome Phillip and with his extensive experience and expert strategic knowledge, he’ll be leading the innovation in our approach to data so it matches our aspirations as a globally expanding business.
“Data is core to us serving our clients effectively, now and into the future, and this role will also be key in ensuring we fully leverage the available digital capabilities.”
Key Capital invests in cruise technology company
Leeds-based private equity firm Key Capital Partners has invested in theICEway, a specialised cruise technology company. This strategic investment will enable theICEway to enhance its technological offerings and drive expansion across key markets in the global cruise and travel sectors.
Key has invested in excess of £7m for a significant minority stake.
With a strong reputation for delivering cutting-edge IT solutions tailored to the cruise industry, theICEway has become a trusted partner to cruise operators and travel companies worldwide. Their innovative technology services include cloud solutions, managed services, system integration, and digital transformation, helping clients navigate the unique challenges of the maritime industry.
The growth investment from Key will further support theICEway’s mission to stay at the forefront of technological advancements. With an increased focus on innovation, the company plans to develop new services, strengthen its infrastructure, and enhance its presence in key markets. This partnership will also allow theICEway to invest in talent and expand its team to meet growing customer demand.
“We are thrilled to partner with Key Capital Partners, whose expertise in supporting growth businesses aligns perfectly with our vision for the future,” said Ian Richardson, CEO and Co-Founder of theICEway.
“This investment is a major step forward in our journey to becoming the leading global technology provider for the cruise and travel industries. With Key’s backing, we are confident in our ability to continue delivering exceptional value to our clients and expanding our capabilities.”
Matt Tice, Director at Key, said: “We are excited to work alongside theICEway and help drive their ambitious growth strategy. Their deep industry expertise and strong client relationships make them a standout company in the specialised cruise technology sector. Together, we look forward to unlocking new opportunities for innovation and expansion.”
Sam Davies, Partner in the Cowgills team that advised the shareholders on the deal, said: “The investment backed by Key is the culmination of many years of partnership between Cowgills and Iceway. This is a great result for the shareholders and the new partnership with Key I am sure will be very profitable for both parties.
“This was a team effort from Cowgills with support from our Tax, Strategic Support and Lead Advisory teams, notably Brett Marsden who has worked very closely with management.”
The deal was led by Matt Tice, James Hall and Hannah Kirkup, investors at Key. Legal advice was provided to the Key team by John Hamer and Kayleigh Watson at Walker Morris and tax structing work by Fletcher Adamowicz of BHP. Due diligence was conducted by Laura Bollen of RSM (Financial), Jack Hibbs of Armstrong (Commercial), Ben Morton of Intechnica (IT) and Dan O’Connell of Gallagher (Insurance).
Advisers to the company and shareholders included Cowgills Corporate Finance (Sam Davies, Brett Marsden, Ed Higham), Cowgills Tax (Georges Daubney, Jason Gauthier, Claudia Harrison), and Bermans (Jon Davage, Robin Hastings, Nathan Hughes).
Sheffield pilot scheme looks to boost health and wellbeing in the workplace
Businesses from across the region are joining forces to improve understanding and better support approaches to mental, physical, financial, and social wellbeing in the workplace.
A pilot scheme has been launched by Sheffield Chamber of Commerce’s Health and Wellbeing Consortium, in partnership with Sheffield United Community Foundation, to bring together businesses and explore shared experiences.
The pilot comes as 91% of UK adults reported high or extreme levels of pressure or stress in the past year, leading to one in five workers (20%) in the UK needing to take time off work in that period.
Employees from 15 pilot organisations are sharing their experience to help develop a School of Excellence which will eventually provide valuable resources for businesses seeking to support and develop their workforce.
Over the coming months the pilot group will work closely to co-create meaningful outcomes and establish a framework for ongoing improvement in employee wellbeing across the region.
Tracy Viner, Sheffield Chamber’s Executive Manager (Policy and Public Impact), said: “Together, we’re not only committed to improving health outcomes but to driving change and economic growth.
“We know that our regional economy will only flourish if it is powered by healthy workers achieving higher productivity.
“The businesses involved in the pilot will be mapping the challenges they face and examining how to improve health and wellbeing in the workplace.
“By working together we’ll be able to generate and share a baseline of current data which we can use to measure improvement. This work is the foundation stone for creating a Health and Wellbeing School of Excellence in the region and will set out a range of goals that will deliver real impact.”
Chris Bailey, CEO of Sheffield United Community Foundation, said he hoped the innovative collaboration would highlight gaps in services and aid employers to better support their employees.
“Sheffield United Community Foundation tackles many of the key issues our society faces and working with strategic partners to achieve local and national health outcomes is one of our strategic priorities.”
Businesses and organisations involved in the pilot include Sheffield United Community Foundation, BetterMinds, Mortgage PA, Sheffield City Council, Sheffield Hallam University, Sheffield Occupational Health Advisory Service, South Yorkshire Mayoral Combined Authority, University of Sheffield and Westfield Health.
Dave Kneeshaw, Founder of BetterMinds, added: “Good health and wellbeing is critical for successful employee engagement and organisational performance. As a business community we are stronger when we work together and this pilot is set to deliver real insight into how we can build more supportive workplaces, improve health, and ultimately better outcomes for businesses and individuals.”
Businesses take on Nashville with West Yorkshire Mayor to secure trade deals and regional growth
West Yorkshire has gone stateside, with a dozen of the region’s businesses joining Mayor Tracy Brabin in Nashville, Tennessee, to meet with potential investors and trade partners.
The trade mission, which has been organised by the Mayor to create opportunities for West Yorkshire businesses, began yesterday (Monday 7 October) and will conclude ahead of the government’s inaugural International Investment Summit in London on Monday 14 October.
It will see the Mayor and businesses working together to secure new contracts and sign new trade agreements, helping businesses to export and scale, create new jobs, and grow the economy.
Trade in goods and services between West Yorkshire and the US is worth over £4 billion, with almost 2,000 local businesses exporting goods to the US.
By putting forward a united public-private plan for investment, the Mayor hopes to inspire confidence in the region’s fastest growing sectors, including its health and life sciences sector.
Tracy Brabin, Mayor of West Yorkshire, said: “By coming together with business to champion our great region abroad, we’ll attract investment, create good jobs, and put more money in people’s pockets.
“This public-private trade mission will help our businesses to grow and succeed, by opening up export and investment opportunities in a stronger, brighter region.
“And here at home, our investments in transport, skills and homes will help create the right environment for growth, by connecting businesses to the talent and finance they need to succeed.”
As part of the mission, the Mayor will speak at the NCQA Health Innovation Summit and meet with the Mayor of Nashville, Freddie O’Connell, to progress talks on a new partnership between the two regions’ health and life sciences sectors, to increase the flow of knowledge, products and investment.
As the home of NHS England’s headquarters and Europe’s largest teaching hospital, West Yorkshire is recognised as a global leader in health innovation. The sector employs over 100,000 people across over 300 companies, and will be supported to grow even further through a 10-year, £160 million Investment Zone secured from the government.
Nashville, which has almost doubled its number of health and life sciences jobs since 2000, has been identified by the Mayor as a prime trading partner for West Yorkshire. Overall, the state of Tennessee ranks third in the US for the export of medical supplies and equipment, worth over $4 billion.
Joining the delegation on behalf of Health Innovation Leeds, Kate Lodge, Partnership Director at the Leeds Academic Health Partnership, said: “I’m delighted to join our regional partners as, together, we further strengthen our burgeoning health innovation industry sector.
“As well as showcasing the world-renowned strengths of Leeds and West Yorkshire, I’m sure we’ll bring back valuable insights and opportunities as we connect with other global health innovation leaders.”
Regarded as the birthplace of country music, Nashville will also host representatives from Leeds Conservatoire, The Piece Hall in Halifax, and Tileyard North in Wakefield, to deepen trade, investment, and knowledge sharing between the two regions’ music industries.
Since her election in 2021, the Mayor has invested more than £13 million into the creative industries, including in a brand-new music network for musicians and industry professionals to collaborate on shared opportunities.
Nicky Chance-Thompson MBE DL, CEO of the Piece Hall Trust and Deputy Chair of the WYCA Culture, Heritage and Sport Committee, said: “The music and cultural scene in West Yorkshire has always been rich with talent, and due to investment, the region is now achieving unprecedented recognition.
“However, there is still so much more untapped potential and opportunity to realise if we can nurture and forge stronger worldwide partnerships.
“Famed as the birthplace of ‘country’ and with some of the most iconic venues in the world, Nashville is arguably now the world’s epicentre of music. In many ways it mirrors the talent and assets we have here in West Yorkshire.
“Building strong and collaborative partnerships with the world’s best, will help the region achieve the Mayor’s ambition of putting culture at the heart of its growth and super boost the economy.
“We’ve seen firsthand in Halifax the impact of the success of our summer gig season and the economic impact it has had on the town and region, and The Piece Hall Academy is bringing through the next series of writers, artists and event specialists.
“This is just one catalyst. There is so much more we can do across the whole county. By making these important connections in Nashville, we can really elevate our music scene and realise long lasting benefits to the region.”
285,000 sq ft urban logistics scheme acquired in South Yorkshire for £43.7m
Harworth, a regenerator of land and property for sustainable development and investment, has completed the acquisition of Catalyst, a 285,000 sq ft, Grade A, urban logistics estate in Rotherham, South Yorkshire. The £43.7m purchase price reflects a net initial yield of 5.4%.
The asset, completed in 2023, is strategically located adjacent to the Group’s flagship industrial development and major UK manufacturing hub, the Advanced Manufacturing Park (AMP). Comprising of five units, the scheme is currently 90% let to a diverse range of occupiers, with a WAULT of 6.6 years to break and 10.1 years to expiry. Harworth is confident of securing a letting for the final 28,000 sq ft, and when fully let the scheme will generate £2.5m of annualised rent. The acquisition provides an opportunity to implement tailored asset management initiatives and deliver additional value across the wider AMP, where Harworth continues to see strong demand from occupiers, and rents have recently exceeded £10 per sq ft. Lynda Shillaw, Chief Executive, Harworth, said: “This acquisition, the largest of an Industrial & Logistics investment asset in Harworth’s history, aligns with our strategy to grow our high-quality Investment Portfolio. It also continues our track record of strategic site assembly, providing an opportunity to extend the AMP, further establishing it as one of the leading manufacturing and distribution centres in the region. “Increased direct development and the retention of Grade A Industrial & Logistics assets across our major sites, supplemented by select, income producing acquisitions, is core to our strategy, whilst we will also look to recycle properties where value has been maximised through completed asset management initiatives.”