MARCH 2024 £3.50 YORKSHIRE & LINCOLNSHIRE’S LEADING BUSINESS MAGAZINE www.blmgroup.co.uk VOLUME 39 ISSUE 3 Material trendsDecarbonisation demanded Economic transformationSpecialists in Construction and Property Insurance www.konsileo.com Michelle Markham E: michelle.markham@konsileo.com T: 01472 810059 Nick Taylor-Ward ACII E: nick.taylorward@konsileo.com T: 07976090701 From the Editor There’s nothing quite like an election year to remind you that politicians are only interested in themselves. With every party busy slinging mud and trying to tell you why you shouldn’t vote for their rivals (while failing to point out why you should vote for them), businesses are enjoying the bitter taste of a recession – but don’t worry, everyone, it’s only a “technical” recession. That’s somehow meant to make it better. Thankfully, business is resilient in our region and the news of a recession probably didn’t come as a surprise to anyone running a business last year. We all knew it was a recession, only the Government were refusing to say it for the usual reasons. Even in the face of such times, there are success stories to be had that show the hard work of people in our region, and that’s something to remember in the event we tumble into a recession that isn’t just a “technical” one. Business continues, and those that can work in a recession can thrive outside of it. Good reading, as always Michael Fisher Editor LEVEL THE BUSINESS PLAYING FIELD & MASTER AI BEFORE YOUR COMPETITORS DO! DEVELOP YOUR AI EDGE & UNLOCK THE POWER OF GENERATIVE AI! UNLOCK THE POWER OF AI FOR YOUR BUSINESS WITH AI FUTURES AI Futures accelerates AI adoption through custom designed in-house masterclasses, workshops, and one-on-one executive sessions. This tailored approach equips businesses with the critical insights and actionable strategies required to integrate AI seamlessly into their operations, ensuring rapid, effective implementation. LEAD THE CHANGE IN THE AI LANDSCAPE, SUPERCHARGING YOUR BUSINESS AGILITY AND COMPETITIVENESS WITH AI FUTURES 121 BOARDROOM BRIEFINGS * IN HOUSE WORKSHOPS * MASTERCLASSES * KEYNOTES CONTACT: E: info@aifutures.co.uk T: +44 7514 749 264 Geoffrey Bye Founder & CEO AI FuturesMARCH 2024 6 News The latest business news and success stories from around our region. 10 Commercial property Business Link reflects on a strong year for Leeds’ office market, as space continues to be in high demand. 14 Petrochemical spotlight With intense scrutiny coming from the public, governments, investors and customers, the industry must focus on decarbonisation. 18 Freight, storage and movement Global politics continue to wield significant influence over the industry, necessitating greater knowledge sharing between stakeholders than ever before. 22 Materials and components Faced with a difficult few years post-pandemic, the construction industry appears to be on the mend. With the long-anticipated growth in sight, attention has turned to the very foundations of the industry, and how the shifting trends will elevate the quality of outputs and ensure continued industry success. 26 Finance Securing funding remains a formidable challenge despite the flourishing digital sector. While crowdfunding may seem enticing, its unpredictability underscores the need for alternative strategies. 30 Hull and The Humber Bank From a City of Culture to a powerhouse of innovation, Hull and the Humber Bank region are defying expectations. 38 Legal services In a complex world of regulations and legal intricacies, securing the right legal partner is essential for safeguarding your business interests. 41 Corporate hospitality Physical event? Digital? Why not an AI event? 44 AutoLink We look at some new models and refreshed names coming to our roads this year • Porsche Taycan GTS review 50 Events We take a look at business events happening around Yorkshire and Lincolnshire. 54 And finally… Yorkshire-Lincolnshire- Business-Link @blmforum blmforum.net CONNECT WITH US 14 30 41Group Editor Steve Fisher (s.fisher@blmgroup.co.uk) Editor Michael Fisher (m.fisher@blmgroup.co.uk) Journalist Tess Egginton (t.egginton@blmgroup.co.uk) Editorial contact newsdesk@blmgroup.co.uk Tel: (01472) 310305 Fax: (01472) 310317 Sales Director Angela Cooper (a.cooper@blmgroup.co.uk) Vicky Hunt (v.hunt@blmgroup.co.uk) Kerry Randerson (k.randerson@blmgroup.co.uk) Alexandrea Brown (a.brown@blmgroup.co.uk) Tel: (01472) 310301 Fax: (01472) 310311 Tel: (01472) 310304 Fax: (01472) 310314 Haychart Ltd, Armstrong House, Armstrong Street, Grimsby, N.E. Lincs., DN31 2QE. reproduced, transmitted, photocopied, recorded or otherwise without express permission of the copyright holder, for which application should be addressed first to the publisher. While every reasonable care is taken, neither the publisher nor its prints, colour transparencies, negatives or other material of whatever nature submitted to this publication. The views expressed in this publication are not necessarily the views of COVER PHOTOS: STOCK.ADOBE.COM - HALLOWEN • STOKKETE • ELECTRIC EGG LTD • GORODENKOFF • KALYAKAN 18New Sheffield office building welcomes major law firm as first occupant DLA Piper has signed up to take the top two floors of Elshaw House, Sheffield City Council’s new zero carbon-ready office building. DLA Piper’s move into Elshaw House will see one of the world’s largest law firms, and a key employer in the city, maintain its presence in Sheffield City Centre. Fit out of the two-floors, as well as an adjoining private terrace on the top floor, will be completed in this spring. The space will span over 17,000 square feet in total. Having reached completion last month, Elshaw House is the flagship office development within Heart of the City – the £470m mixed-use development scheme led by Sheffield City Council and its Strategic Development Partner, Queensberry. Located on Carver Street, next to Pound’s Park, Elshaw House is the pinnacle of sustainability and will achieve a five-star BREEAM green energy rating, making it a key part of the Council’s green goals. 6 Business Link www.blmforum.net NEWS Yorkshire linseed paint manufacturer expands Environmentally sustainable linseed paint manufacturer Brouns & Co has relocated to new premises in Sherburn in Elmet to accommodate the firm’s growth, after reporting a 400% increase in export sales to the US in the last three years. Brouns & Co, which moved production of its all-natural linseed paint to Yorkshire in 2022, has relocated from Garforth to a site at Bypass Park Industrial Estate in Sherburn in Elmet. The paint’s primary ingredient, flax seed, is harvested at nearby Collingham. Designed for use on timber and metal as both a coating and a preservative, Brouns & Co linseed paint has seen a leap in sales both in the UK and the US, where it has taken off with owners and custodians of the historic and new timber-built properties that are a feature of the East Coast. US sales have quadrupled to over £100,000 since 2021 and the business reported a record quarter at the end of 2023. Leeds-based transformer and generator specialist secures multi-million pound investment for MBO Manufacturers of power and distribution transformers, Winder Power, has secured a multi-million pound combined debt and equity funding package from Connection Capital to support a management buyout of the business. Hundred-year-established Winder Power has seen a significant increase in demand for its power generation and handling equipment and services with the switch to increased renewable energy generation across the UK over the last decade. The firm employs over 100 people at its 80,000 sq ft manufacturing facility in Pudsey, Leeds, and customers include Thames Water, Euro Tunnel, ASDA and Drax. The deal, which was originated and led by independent corporate finance boutique CorpFin, based in Harrogate, will see the exit of previous private equity investors Mercia Asset Management, which has disposed of its significant minority shareholding. Winder Power MD Paul Mathews said: “This funding opens a new chapter for the business at an incredibly exciting time for our industry. The progress we have made to establish the Winder Power brand as the leader in the sector since our original MBO in 2008 has really paid off.” Brouns & Co CEO, Michiel Brouns, at the new, larger Brouns & Co site, Sherburn in Elmet Winder Power production facility, Leedswww.blmforum.net Business Link 7 NEWS Acorn Construction boosted with six figure investment A provider of indoor and outdoor scaffold-based temporary structures and staging is focused on growth after receiving a six- figure investment from NPIF – FW Capital Debt Finance. Headquartered in Sherburn-in-Elmet, Leeds, Acorn Construction works with clients including the BBC, Creamfields, ITV Studios and the Goodwood Festival of Speed. The loan from NPIF – FW Capital has helped Acorn Construction to invest in the growth of the business and launch a new black Truss designed stage into the market. Acorn Construction has also created ten new jobs. Rebecca Nutter, Managing Director at Acorn Construction, said: “We’ve built up an established reputation for the quality and innovative nature of our staging and structures which suit a variety of uses. “We have created this new stage following customer demand for a black structure that can withstand the increased load capacity that is needed at festivals and concerts due to all the lighting and staging equipment needed. It can be difficult to obtain funding for this type of asset but the flexibility of the investment from FW Capital has been important.” Investment supports data protection specialist’s expansion Investment from Finance Yorkshire is supporting a company specialising in data protection to grow its portfolio of clients. ProvePrivacy, based in Bradford, is a secure, digital platform designed for data protection and information governance professionals to manage data protection compliance in their organisations. A £74,200 investment from Finance Yorkshire’s business loans fund has enabled the business to drive marketing to gain more public and private sector clients. The investment is also supporting further development of the platform. ProvePrivacy founder Mark Roebuck said: “I have been focussed on developing the product and now is the time to drive our marketing and build up our work particularly in the private sector. Finance Yorkshire’s investment enables us to do this while at the same time continuing to develop and enhance the platform’s features and functionality in line with data protection requirements and user needs.” L-R: Mark Roebuck, ProvePrivacy, Alex McWhirter and Anthony Cope, Finance Yorkshire Yorkshire business confidence dips in February Business confidence in Yorkshire and the Humber fell 13 points during February to 31%, according to the latest Business Barometer from Lloyds Bank Commercial Banking. Companies in Yorkshire and the Humber reported lower confidence in their own business prospects month-on-month, down 17 points to 37%. When taken alongside their optimism in the economy, down nine points to 25%, this gives a headline confidence reading of 31% (vs. 44% in January). However, a net balance of 39% of businesses in the region expected to increase staff levels over the next year, up 10 points on last month. Yorkshire and the Humber businesses identified their top target areas for growth in the next six months as investing in their team (43%), introducing new technology (31%), and investing in environmental sustainability measures (27%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. Bespoke training solutions Lincolnshire & Counties Training Solutions (LACTS) deliver high-quality training solutions across the UK that are typically delivered at your business premises, ensuring the most cost- effective and efficient use of your personnel’s time. We are recognised and authorised by the leading UK governing bodies such as, QNUK, FAIB and BALI to train accredited Food Safety, Health and Safety, First Aid, Fire Safety, ROLO and a host of other qualifications throughout the whole of the UK. © stock.adobe.com/kora_sun © stock.adobe.com/henjonTOWER FIELD SERVICES Cat Tech Tower Field Services offers bespoke mechanical services to oil refinery and petrochemical plants all around the world. Our team has vast experience in overseeing and undertaking the installation of all types of Tower internals. Our Tower tray, packing and other internals installation services has deep roots, with several of the senior team at Cat Tech being involved in the founding of the Cana-Tex organisation. Since 1971, Cana-Tex had been the premier global Tower speciality contractor; performing Tower maintenance and plant turnaround projects around the world. These origins, with the addition of new team members, make Cat Tech Tower Field services a global operation which is both cost effective and technically experienced. We strive to create new ways to make your Tower work safer, faster and more productive and that can make very good things happen for your business. We thrive on exceeding our clients expectations and understand the need for upfront communication in relation to timescales and costs. No-one likes surprises in this industry and we ensure that everything is done, from pre-job planning, on site activities to post job reporting in a manner which allows our customers to concentrate on their core business. Let us show you what we can do. We work hard to maintain an industry reputation for safety, speed and dependability. Ours crews have been trained by us, this allows us to staff a project with the proven skills necessary to produce customer satisfaction. It is our intention to demonstrate the benefit of utilising Cat Tech for all of your Tower work. The benefits of engaging Cat Tech are: l Experienced Tower specialists. l Proven track record. l Ability to supply spares and replacements. l Spade to Spade service. l Revamps or modifications to Towers / Internals. l Inspection of Tower internals. l Supervision of external/client labour force. l Detailed inspection reports. l Cleaning of tower internals. l Reactor tray field services. l Turnkey reactor tray field services. At Cat Tech, we continue to create new ways to make Tower work safer, faster and more productive. And that can make very good things happen for your business. Contact us for further information. Our well established sales team have a wealth of experience. We take pride on ensuring all enquires are dealt with quickly and efficiently. China: Cat Tech Services (Shanghai) Ltd., Room 1230 No.1, 58 Nong Huachi Road, Putuo District, Shanghai 20061 CN Phone: +(86) 2152 9175 08 Fax: +(86) 2152 9175 05 Singapore: Cat Tech Asia Pacific Pte. Ltd., 17 Fan Yoong Road, Singapore 629794 Phone: +(65) 6264 6261 Fax: +(65) 6264 6401 South America: Please contact the UK office on +44 1724 871 747 Thailand: Cat Tech Services (Thailand) Ltd., 2/1 Soi Banbon Nuenpayom Road, Maptaphut Sub District, Muang Rayong District, Rayong Province 21150 TH Phone: +(66) 894 064 100 Fax: +(66) 638 692 382 MAKING YOUR PLANT WORK… SMARTER www.cat-tech.com PHOTO: SHUTTERSTOCK.COM/KAWINNINGSwww.blmforum.net Business Link 9 NEWS Rushbond adds landmark Harrogate office building to growing commercial portfolio Yorkshire-based property company Rushbond PLC has acquired The Exchange in Harrogate, a landmark ten-storey office building located in a prime location above the town’s train station. The acquisition is part of Rushbond’s strategic plan to grow its portfolio of well-located, best in class commercial assets in Yorkshire, having also recently purchased the iconic Bank House in Leeds – the former home of the Bank of England. The Exchange building, which dominates the town centre skyline, is one of the few Grade A office developments in the town centre. The building is currently home to a wide range of businesses from software development companies to law firms and architecture practices, and also features two retail units on the ground floor. Rushbond will now undertake a programme of renovations to the building and the few remaining vacant suites – which range between 765 sq ft to 5,300 sq ft – with a focus on upgrading the specification of the interiors and improving energy efficiency. © Richard Gough National event hire company expands in Bradford A nationwide company that specialises in the hire of furniture, catering equipment, refrigeration facilities, tableware and related accessories, for all types of events, is doubling the size of its Bradford base after expanding into a brand new industrial estate. Event Hire UK has leased a 17,000 sq ft unit at Cutler Heights Business Park on Cutler Heights Lane, which is less than two miles from both the M606 and Bradford city centre. The estate is being marketed by Leeds property consultancy, GV&Co and there are now just three brand new hybrid industrial units remaining that range from 1,980 to 2,723 sq ft. Established in 2005 in Walsall near Birmingham, Event Hire UK expanded into Bradford in 2009 and was previously based at Enterprise Court on Prince Street, approximately a mile from its new premises. The company currently employs an 18-strong team in Bradford and plans to create four new jobs over the next 12 months. Trombone manufacturer acquired by global musical instrument retailer Trombone manufacturer, Michael Rath Trombones, has been acquired by global musical instrument retailer, John Packer Musical Instruments. The agreement will see John Packer Musical Instruments look after marketing, distribution, and logistics for the Yorkshire business. The Michael Rath Trombones team will remain with the business and continue to build and manufacture trombones at their factory in Honley, Huddersfield. The transaction was led by Holden Smith’s corporate team. Rob Kelly, director and head of corporate at Holden Smith, said: “The acquisition of Michael Rath Trombones was a really interesting transaction to work on, not least because of the unique nature of the product! “Their trombones are found in almost every conceivable musical situation, from symphony orchestras and opera houses to film and television studios around the globe. They are made in Huddersfield, but sold across the world, with the USA being a particularly important market.” The Exchange, Harrogate © stock.adobe.com/Davizro PhotographyNext >