Category Archives: Business & Property News

Business & Property News, Insurance

Signage insurance warning as van sales pick up

Experts warn van branding could void insurance

Van owners should check that their vehicle’s signage or branding is recorded as a modification on their insurance policy or risk voiding their cover.

Leading insurance comparison website Quotezone.co.uk says many van drivers are unaware that their van’s branding falls into the modification category on current policies, amongst items such as spoilers and alloy wheels.

The warning comes as new figures show a 76% rise in van sales – 190,000 vehicles – in the first six months of this year according to trade body The Society of Motor Manufacturers and Traders – 1.8 per cent above the five-year average for 2015-2019.

Drivers need to keep their insurance provider up to speed with any modifications, including newly added branding or signage, because those modifications can sometimes change the van’s risk profile.

Signage or branding on a van, for example, might increase the risk of a break-in if it convinces opportunistic thieves think valuable equipment or tools might be stored in the vehicle. In addition, if the vehicle is ever involved in an accident the cost of repairing or replacing the signage might increase the overall cost of repairing the van.

The insurance comparison website advises van owners to make sure forms are correctly answered when taking out a new policy, inform their existing provider if signage or a vehicle wrap is added after the policy was taken out, and if in doubt ask the provider. Making sure the policy is always accurate ensures drivers are protected should they need to make a claim.

Quotezone.co.uk offers some good news for van drivers that decide to add a ‘How’s my driving?’ sign to their vehicles. The price comparison site revealed that this sign could potentially reduce the driver’s van insurance premium, because industry data suggests van drivers with a ‘How’s my driving’ sign tend to be less likely to claim on their insurance.

Greg Wilson, Founder of Quotezone.co.uk, comments: “Throughout the pandemic we’ve seen a monumental rise in tradesmen, mobile mechanics, couriers and catering vans – as people adjust to lockdown working life. This could explain the spike in van sales as many try their hand at small business startups or support growth in the delivery and construction industry. Many of these new van owners might not know signage can be viewed as a modification, so it’s worth checking how their insurer views any branding on the vehicle to ensure they’re correctly declaring everything they’re required to declare.

“The fact that a van has a vehicle wrap, signage or branding doesn’t necessarily mean that drivers won’t still get the cheapest van insurance quote – they just need to shop around and use an insurance comparison website to compare premiums from a wide range of providers, which increases the odds of finding the right policy at the right price.”

Quotezone.co.uk is one of the country’s leading price comparison platforms, helping over 3 million users find a more competitive deal each year on everything from car insurance and van insurance to tradesman insurance and fleet insurance.

Business & Property News, Sport

Amendoeira Golf Resort delighted to host EGA European Championship for Golfers with Disability

The Algarve’s stunning Amendoeira Golf Resort is to host the European Golf Associations (EGA) European Championship for Golfers with Disability on 21-24 August for the first time.

The championship, which is in its 18th year, is approved by the EGA and run by the European Disabled Golf Association (EDGA). It will see 80 players descend on Amendoeira’s sun-kissed O’Connor Jnr Course, ready to compete in a range of events, including male, female and wheelchair-bound competitions.

The European Championship for Golfers with Disability alternates between individual and team championships each year. 2021 will see the individual championship take place, after it was postponed from 2020, like so many major sporting events. The 80 players, along with their staff, caddies, guides and other members of their retinue will all be based at Amendoeira, which is owned and operated by Kronos Homes, for the duration of the competition.

Tony Bennett, President of EDGA, Head of Disability and Inclusion for International Golf Federation, said:

“We look forward to welcoming all those involved in the European Championship for Golfers with Disability to Amendoeira Golf Resort and invite them to enjoy our wide range of facilities, from the new clubhouse, the restaurant and the sports bar to the practice course and the impressive fairways and subtly contoured greens of the O’Connor Jnr Course. We are proud to support this esteemed event.”

The O’Connor Jnr Course was designed by iconic Irish golfer Christy O’Connor Jnr. Situated in a fertile valley in the Silves area of the Central Algarve, the course has been skilfully landscaped and planted with mature palm trees, which intersperse its multiple water features. Focus and accuracy are essential for this challenging course, which is one of three at Amendoeira (alongside the 18-hole Faldo course and Portugal’s only illuminated nine-hole course).

Alda Filipe, Sales & Marketing Director, Kronos Homes, added:

“We are thrilled that the 2021 European Championship for Golfers with Disability will take place at Amendoeira Golf Resort. Our players have previously enjoyed a range of superb golf courses in Lisbon, as well as here in the Algarve, and are looking forward to the challenge of the O’Connor Jnr Course, with its stunning surroundings, as well as to the chance to reconnect and enjoy some social banter.”

Business & Property News, Business News, Wales News

Outstanding Year of Growth for Welsh Cleaning Company

Bridgend-based cleaning company, A&R Cleaning sees growth of 133% in the last year, the fifth consecutive year of growth, despite a challenging time for the industry.

The award-winning company was established in 2010 by Rayner Davies and her husband Ashley. Together the pair have grown A&R Cleaning to employ over 300 staff members across South Wales and the South West of England.

Celebrating its ten-year anniversary in 2020, A&R Cleaning completed a record-breaking year, which saw over 133% in growth and included creating new positions for people across Cardiff, Swansea and Newport, further expanding their footprint across South Wales.

Rayner Davies, Managing Director, said:

“We are delighted to have seen the business thrive throughout what has been a challenging year for many and we are so proud of our hard-working team. A&R Cleaning truly is one big family and it is our family-business ethos, and the exceptional effort of our team, that has been pivotal to our success.”

Diversifying in the face of the COVID-19 pandemic, A&R Cleaning has adapted their offering to include bio-misting and other services to ensure that workplaces are safe to return to during and after the pandemic.

Continuing to build on their success, A&R Cleaning is projected to see a further 66% growth in 2021 and are currently on target to exceed £5m turnover, with the intention of exceeding 400 staff members by the end of the year.

Ashley Davies, Finance and Sales Director, added:

“We are incredibly proud to have seen continued growth over the past 5 years, and are on target to exceed our goals for 2021. We know that all businesses have faced challenges in recent years, and we are ever grateful to our valued clients, both new and long-standing.”

With employee happiness at the heart of the company, A&R Cleaning are proud of their excellent staff retention rate, with a staff turnover of only a fifth of the national industry average over the past year. Rayner concluded:

“We have some exciting plans in the pipeline for A&R Cleaning and we are on track to double our staff this year. Even with our continued growth, it is important for us to keep our family-business ethos at the centre, including a key focus on our team’s mental health and wellbeing.”

Business & Property News, News

New version of Help to Buy now available on apartments in Shortstown

First-time buyers looking to get on the property ladder in Bedfordshire can now purchase a new-build apartment in Shortstown with the new version of Help to Buy.

Bellway has released a selection of one and two-bedroom apartments at Eastcotts Place, all of which are available with the Government-backed scheme.

Help to Buy enables buyers to secure a new-build home with just a five per cent deposit and 75 per cent mortgage, with the remaining 20 per cent being provided as an equity loan which is interest free for five years.

As of this month (April), new regional price caps have been introduced, reducing the maximum price of a home which can be purchased with Help to Buy in Bedfordshire from £600,000 to £407,400. The scheme is also now available exclusively to first-time buyers.

All the properties currently on sale at Eastcotts Place, off Conder Boulevard, are priced below the new regional cap. They include one and two-bedroom apartments priced from £150,000, and a selection of three-bedroom semi-detached houses starting from £320,000.

Luke Southgate, Sales Director for Bellway Northern Home Counties, said: “The introduction of regional price caps for Help to Buy is sure to have a significant impact on the first-time buyer market. Larger houses previously eligible for the scheme will now be out of reach for many people looking to take their first steps on the property ladder.

“This is likely to see greater demand for smaller properties, with apartments becoming an increasingly attractive option for first-time buyers. The range of apartments at Eastcotts Place are suitable for both young professionals and young families, with a price tag well below the regional Help to Buy limit.

“The spacious open-plan layouts of the apartments lend themselves perfectly to family living and entertaining, while the development itself is located within a brand-new neighbourhood with parks, play areas and a primary school nearby.”

Harrowden House comprises a selection of one-bedroom apartments, priced from £150,000. Each home features an open-plan kitchen, living and dining area, a spacious double bedroom, a bathroom and store cupboard.

A selection of two-bedroom apartments are available within Eastcotts House. Similar in design to the one-bedroom homes, these apartments also include a second, single bedroom and additional storage space. Prices start from £190,000.

Also available with Help to Buy at Eastcotts Place are the three-bedroom semi-detached Tweed and Kennett house types, priced from £320,000 and £330,000, respectively.

Bellway is also building at Eastcotts Green, a neighbouring development featuring a range of two to five-bedroom houses.

Both developments are part of the new neighbourhood being created on the former RAF Cardington site.

For more information, visit bellway.co.uk or call the sales team at Eastcotts Place on 01234 430638.

 

CAPTIONS

  • Help to Buy is available on apartments at Eastcotts Place
Business, Business & Property News, News

GS Verde Group Expands into Ireland

Fast-growth multi-discipline GS Verde Group has announced further expansion, with the opening of its first office outside of the UK, with the launch of GS Verde (Ireland) in Dublin.

The new office is located in Dublin 2, Dublin’s premier business district, and follows client led demand with both new and existing client agreements in the Country across industries including Aviation, SaaS and Technology.

Nigel Greenaway, CEO of the GS Verde Group said:

“We are very excited to be expanding into Ireland. Some of the world’s biggest brands including Google, Facebook and Microsoft, have a presence here and we are delighted to join them as we continue to grow our own disruptive, fast-growth business.”

The Ireland venture will be overseen by newly appointed Director, Peter Franklin, who will also join the newly formed board of GS Verde (Ireland).

Mr Franklin has over 12 years of experience in the medical devices industry, managing business compliance and mergers and acquisitions and will be supporting the GS Verde Group with its plans to continue its buy and build strategy, to grow GS Verde (Ireland).

Speaking of his appointment Mr Franklin said:

“I am delighted and honoured to join the board of GS Verde (Ireland). Being entrenched in successful corporate merger and acquisition deals for many years, the timing is right to bring a firm of this stature to Ireland. Despite the effects of the current pandemic, the Irish economy remains resolute and determined to not only survive, but to continue in a healthy upward growth trajectory, now exceeding the EU average”.

The GS Verde Group has become renowned for its corporate finance led deal-making services, advising on corporate transactions across the UK, the group consists of award-winning corporate law firm Greenaway Scott and M&A specialists Verde Corporate Finance, among others.

Mr Franklin added:

“Ireland’s corporate environment is now ready for a key player, one that will effectively facilitate, advise and deliver on better corporate activity, such as mergers, acquisitions, growth strategies, finance and legal advisory services. A specialist area very often underserved in the Country, companies interested in exploring these horizons now have the option of engaging with a dedicated and accomplished firm.”

In the last year, the GS Verde Group has seen tremendous growth, including the acquisition of Bristol-based Astrum Accountants, the addition of marketing and communications agency, Dragonfly Marketing and the launch of fintech investment platform, Elevate. With this growth has also come a number of high-level appointments across the group.

Mr Greenaway concluded:

“It has been a tremendous start to 2021 for our Group and there is much to come, with announcements to follow in due course. We are delighted to welcome Peter to GS Verde (Ireland), having known each other for several years, I am delighted the opportunity has arisen to welcome Peter to our Group, he will play a key role developing our business in Ireland in the coming years.”

Business & Property News, Business News, News, Wales News

Employee ownership structure adopted at Paramount Interiors

Paramount Interiors has announced the successful completion of an Employee Ownership Trust (EOT) scheme, which will see its staff own a majority shareholding of the business. The deal was structured and advised on by the GS Verde Group.

The deal marks a major milestone for Paramount Interiors after exceptional growth over the past 12 months, which has included the multi-million-pound redevelopment of Fusion Point One in central Cardiff and winning Workplace Design of the Year for Grade II listed building, Hodge House.

The substantial growth across South Wales and the South West has been incredible for the commercial interiors specialist and for entrepreneur Richard Jones, having only completed the purchase of Paramount Interiors in 2018 in a management buy-out.

Richard was appointed as Managing Director of the business in 2017, and since completing the MBO, Paramount Interiors has seen a significant year on year increase to being on target for a £30m turnover in 2021, with a string of high-profile contract wins, an acquisition and several senior appointments.

Richard Jones said:

“Paramount Interiors have many long-standing staff members, and the people here are at the heart of all that we do. I am absolutely delighted with the opportunity to reward our talented team with a stake in the business for the outstanding contribution and commitment they have shown over the many years, particularly through the most challenging of times.”

“Despite the onslaught of the gruelling pandemic on offices nationwide, there is still plenty of movement in the design and build market, as our record-breaking year shows. Our focus for the future is to keep setting the standard in transforming working environments into places where people want to be.”

As per the requirements for an EOT scheme, Paramount Interiors staff will become majority shareholders, collectively owning 51% of the business. The benefits of an EOT include the creation of a more employee-centric business structure which will empower staff and in turn benefit the business as a whole.

The company has also appointed a separate trust board to ensure the EOT acts in the best interests of employees and will be joined by an external EOT expert.

Helen Bartlett, Design Director of Paramount Interiors and EOT Board member, commented:

“These are truly exciting times for Paramount Interiors. Richard’s decision to sell his majority shareholding reflects not only how much he values our staff but also the respect they have for him in terms of how committed they all are.”

“And whilst the past year during the pandemic has undoubtedly been challenging for all, everyone continues to go above and beyond to ensure our clients have the experience and more that they deserve. The EOT therefore gives staff further recognition that you get out what you put in.”

The deal was led by the GS Verde Group, with Craig Blackmore, Managing Director of Verde Corporate Finance being the lead advisor, and Matthew Sutton, Director of Greenaway Scott, providing legal advice. Craig Blackmore said:

“What Richard and his team have achieved in this short space of time has been absolutely incredible. The business has always had a strong team ethic, and an EOT was the perfect opportunity to reward the team. Paramount Interiors are a pleasure to work with and we were delighted to assist them in this deal.”

Matthew Sutton added:

“We are delighted to have worked with Paramount Interiors on this deal and to witness the business go from strength to strength. We look forward to seeing what the future holds for them.”

After a strong start to the year, having won contracts worth £15m in the first 3 months of 2021, including the £5M phase two refurbishment works at Hodge House in Cardiff, Paramount Interiors continues to grow rapidly across South Wales and the South West.

For more information on Employee Ownership Trusts, a free guide can be found here.

Business & Property News, Finance and Banking, News

Birmingham sports distributor acquires new site with HSBC UK support

Birmingham based Tandem Group, a designer, developer and distributor of sports, leisure and mobility products, has purchased over three acres of land to increase its distribution capabilities with the support of a seven-figure commercial mortgage from HSBC UK.

The new site is adjacent to the Group’s current HQ in Castle Bromwich and, once developed, will generate an additional 80,000 sq.ft. of purpose built warehouse space.

The development will support the company’s long-term growth plans, as well as accommodating increased stock levels to support the growth in customer demand over the last 12-months. The HSBC UK facility has not only enabled the purchase of the new site but will support the build and development of the new warehouse.

Since the start of the pandemic, Tandem Group has seen a significant increase in domestic sales as customers’ routines have changed dramatically. The expansion of its warehouse operations will allow the company to quickly and efficiently respond to the influx of orders.

Jim Shears, CEO, at Tandem Group, said: “Because of the recent change in routine for many of our customers due to the pandemic, we’ve seen a huge increase in demand, particularly across our bike ranges, with stock selling at a rapid rate and many of our lines already pre-ordered to the end of this year.

“The funding from HSBC UK means we can increase our distribution capabilities and link our two sites to increase efficiency and enable increased distribution of goods from the warehouses in the future.”

Liz Fuge, HSBC UK Area Director for East Midlands Corporate Banking, added: “Tandem Group has reported strong growth during what has been a difficult period for many businesses in the retail sector. We are pleased to have been able to support their expansion efforts as the company looks to continue to grow and develop over the coming years.”

The company has already seen an encouraging start to 2021 with year to date revenue in the 11 weeks to 21 March 2021 approximately 90% ahead of the same period last year, despite the pandemic. The company increased its market share in its lightweight Squish junior bikes and also saw significant growth in its ebikes and escooter ranges.

Business & Property News, News

Multi-million pound MBO at Proctor Brothers in Caerphilly secures business future

Procter Brothers Limited, a Caerphilly-based manufacturer and service provider, has announced the successful completion of its multi-million pound management buyout, in a deal advised on by the GS Verde Group.

The successful management buyout was organised by Verde Corporate Finance and advised on by law firm Greenaway Scott (both part of the GS Verde Group).   The transaction will safeguard over 100 jobs and puts the business on course to progress with its growth plans for the future.

The management team was led by Procter Brother’s existing Managing Director John Procter.  Mr. Procter now assumes the role of Group Managing Director, taking on the mantle from his father, Jeremy Procter, who will remain involved with the business as an advisor.

The business, which is based in Pantglas Industrial Estate in Bedwas, has been family owned since 1740, and the completion of the MBO ensures it will remain in the family while safeguarding the futures of Procter Machine Safety and Procter Contracts.

Procter Brothers mission is to combine the best aspects of traditional craftsmanship and care for customers and employees, with up-to-date production technologies.  Procter Machine Safety designs, manufactures and installs machine guards and provides machinery safety services, while Procter Contracts designs, manufactures and installs entrance gates, fencing, security systems and street furniture.

John Procter said: “I am delighted to have led the acquisition of Procter Brothers Ltd, where I have worked for 20 years, and as Managing Director for over five years.  We are a market leader in our industries and I am committed to growing the business further and cementing our position within the industries we serve.”

Mr. Procter and the management team were assisted by law firm Greenaway Scott who were led by corporate Director Leanne Thomas, alongside Craig Blackmore of Verde Corporate Finance, who led on the financing aspects of the transaction.   Mr. Procter added: “We were delighted with the support of the GS Verde group.   Having both corporate finance and legal advice from the same group made the process so much easier and helped us to get things done swiftly.”

Talking of the future of the business, Mr. Procter concluded: “Customers will find that it is ‘business as usual’ following the management buyout, as all key staff are being retained and existing orders fulfilled.  Looking to the future, customers will benefit from the investment that is being planned for products and services, and we are excited about what the future holds for our business.”

Speaking on his involvement in the deal, Craig Blackmore said: “We are delighted to assist in delivering this deal, and to help safeguard the future of a great business.    There were several moving parts, not least the timing in relation to the pandemic.   However, being a multi-discipline group was a big help to ensuring the right facilities were found for the client and that the deal could be delivered swiftly”.

Leanne Thomas, Director of Greenaway Scott added: “We are delighted to have advised the management team on this transaction and to help secure the future of a great Welsh business.   We wish John and the management team all the very best for the future”.

Financing of the deal included asset and invoice finance facilities from Bibby Financial Services, a working capital loan from the Development Bank of Wales and a Welsh Government grant.