Tag Archives: Investment

Finance and Banking, News

Boost for UK SMEs as WeDo secures £50m in funding

WeDo Business Services has secured £50m in funding which will enable it to significantly expand its support of small and medium-sized companies across the UK.

The funding is provided by alternative investment manager Waterfall Asset Management and will be used to help WeDo bolster the growth of its SME customer base through a range of finance facilities.

The WeDo group has its headquarters in Greater Manchester and additional offices nationwide. It provides invoice and trade finance, asset finance, loans and start-up funding to a growing client base, as well as accountancy, HR, back-office and IT services.

WeDo was founded by Mark Lindsay and Chris Robinson in 2019 with just four staff and has grown rapidly through organic expansion and acquisition. It currently has over 70 staff across its Oldham headquarters and its network of offices.

Its overall lending now exceeds £50m, and chief executive Mark said Waterfall’s funding would enable it to achieve significant growth as it aims to reach £100m within the next three years.

WeDo’s nationwide client base spans a range of sectors, including recruitment, engineering, manufacturing, logistics and wholesale distribution.

Mark said: “This significant investment is a vote of confidence in our business and will help us to exponentially grow our ability to provide support to SMEs from across our finance divisions.

“We share a desire to establish a long-term relationship with the goal of helping more SMEs to succeed in building sustainable businesses for the future, by alleviating their cashflow constraints and enabling them to invest for future growth.

“WeDo has a strong track record of supporting the northern economy by offering finance to companies across the region and this will continue, as well as enabling us to significantly expand our geographical reach.

“There is increasing demand for the type of lending and support services we provide, reflected in a record month for new client wins in the first quarter of this year.

“We understand the challenges of growing a business from a new start, and we want to help others to do the same. It can be lonely as a business owner, and we provide a support network to ensure the wellbeing of themselves and their companies.”

James Cuby, managing director at Waterfall, said: “WeDo provides a comprehensive funding solution and support services to SMEs across the UK and has an experienced management team who are committed to supporting the growth of the businesses they fund.

“We are pleased to support WeDo’s expansion plans and look forward to a successful relationship.”

Engineering, News

Match made in tooling leads to press investment at MACH 2024

A specialist supplier to F1, automotive and aerospace sectors is looking to increase its tool try-out capacity by purchasing its first Bruderer press at MACH 2024.

Alan Spargo Ltd, which celebrates 50 years in business in 2025, has invested in a BSTA 40-tonne machine to help it provide its growing list of customers with the option to test tooling solutions at high speed before they go into production.

The technology can offer up to 1000 strokes per minute at precision accuracy and will support the High Wycombe firm’s desire to increase sales past the £3m mark this year.

It builds on a long-term tooling relationship between the company and Bruderer UK, which has culminated in the development of a turnkey production line for MACH 24 this week, the country’s largest industrial show.

Specialist tooling from Alan Spargo has been developed in just six weeks to run on the Telford-based company’s BSTL 350-88 high speed press, the first time it has ever been run in the UK.

Located on Stand 6-482 at the NEC, the machine comes into its own for precision and continuity and uses up to 30% less energy when compared to older machine models.

Adrian Haller, Managing Director of Bruderer UK, commented: “Alan Spargo works with some of the most demanding customers in the world, thanks to its ability to manufacture precision components and complex tooling.

“The latest investment in a 40-tonne high speed press reinforces this position and gives it additional capacity to try-out new tools at its Buckinghamshire facility, ensuring that the client can tweak stroke speeds and have complete confidence that – when it takes receipt of the tooling – it is going to run at high speed and with absolute accuracy.”

He continued: “This is the natural next step in the relationship, as we have worked together on several projects to build bespoke tooling that can be used on a number of our presses situated in some of the best engineering houses in the UK.”

Alan Spargo is very much a family affair, with the original founder’s sons Michael and Peter now running the business, with the latter’s son Sam Spargo recently joining the business.

Together the company supplies engineering solutions for customers involved in electronics, electric vehicles, solar panels, medical, defence and construction from its Coronation Road facility in High Wycombe.

Peter Spargo, Director, picked up the story: “Our customers are continually pushing the boundaries when it comes to tool performance, and we must respond. One of the ways we can do this is by giving them access to even more tool try-out capabilities and that’s why we’ve pressed the button on our first investment in Bruderer technology.

“This complements our other presses and, importantly, gives us a press that can deliver high-speed performance, testing the tool to its maximum. We’ve already got several existing and new customers who can take advantage of this.

“The last twelve months have been very good for us, and we’ve extended the workforce to 22, with the opportunity to recruit more staff, including new apprentices.”

Bruderer’s production line at MACH will leave Birmingham at the end of the show and make its way to the company’s £multi-million facility that is currently being built at Hortonwood in Telford.

It will form part of a demonstration facility that will be able to prove out machine tools, as well as being used as a potential training ground for future apprentices.

“The BSTL 350-88 high speed press, along with servo-feeder, de-coiler and Alan Spargo tooling represents a £500,000 investment and highlights how committed we are to creating a world class facility in the heart of Shropshire,” added Adrian Haller.

He concluded: “Construction work is progressing well, and we should be open for business in October, with up to six jobs set to be created across service, engineering and finance.”

For further information, please visit www.bruderer.com or www.alanspargoltd.com

Cardiff News, Investment, Investment News

£50 million investment programme launched to help transform the Northern Valleys of South East Wales

A new investment programme aimed at catalysing economic growth and social impact in the Northern Valleys was unveiled today (11 April 2024). The Northern Valleys Initiative aims to play a long-term levelling-up role in tackling some of the intra-regional disparities that exist within the Cardiff Capital Region.

 

The Initiative, totalling £50m, has been set up by Cardiff Capital Region (CCR) and supported by Local Authority Delivery Teams from Blaenau Gwent, Bridgend, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taf and Torfaen. This will support businesses and projects that have the ability to increase prosperity in the region.

 

Investments will be focused on businesses that offer high-growth potential and the ability to help transform the regional economy.

 

Operating over a five-year period, the programme will act as a financial catalyst to support businesses that are either based in the Region or that wish to relocate for the long term. Typical grants and investments available for successful applicants will range from (but are not limited to), £100k to £2m.

 

The programme will concentrate on infrastructure, digital connectivity and tourism sectors delivering a wide range of outcomes including jobs, ecological regeneration and decarbonisation.

 

The Northern Valleys Initiative aligns with CCR’s strategic ambitions to:

 

–  tackle economic disparities and boost growth

–  enhance innovation capability and capacity

–  decarbonise our environment by 2050

–  improve our physical and digital infrastructure

 

Cllr Anthony Hunt, Chair of CCR Committee, said:

“Building on previous work in the region, the Northern Valleys Initiative will deliver an exciting opportunity to stimulate both the private and public sector investment required to generate additional jobs, boost prosperity, foster community resilience and help drive the circular economy in six local authority areas: Blaenau Gwent, Bridgend, Caerphilly, Merthyr Tydfil, Rhondda Cynon Taf and Torfaen”.

 

Welsh Secretary David TC Davies said:

“It’s fantastic news that this fund, backed by the UK Government, is going to help transform businesses in this area.

 

“We are focused on growing the economy of Wales, creating jobs and spreading prosperity, and investments like this are invaluable in making this aim a reality.”

Accountancy, Accountancy & Accounts, Investment

ACCA welcome UK/Australia audit recognition deal as step to driving audit quality

  • The deal between UK and Australian audit bodies allows professionally qualified auditors to more easily work in either country.
  • With talent in short supply, both countries’ regulators recognise audit professionals should face no boundaries in taking their work overseas. 

 

ACCA has welcomed the mutual recognition agreement between UK and Australian audit authorities. At a time of a talent shortage, the deal should make it easier for auditors, including ACCA members, to work between both countries.

 

The agreement between the UK’s Financial Reporting Council and the Australian Securities and Investment Commission (ASIC) allows auditors who have obtained professional audit qualifications as a statutory auditor in the UK or Australia to more easily apply for recognition of their qualification and audit rights in the other nation.

 

Maggie McGhee, executive director for strategy and governance at ACCA, said: “ACCA welcomes the UK and Australian audit authorities agreeing mutual recognition of audit qualifications.

 

“Over time this Memorandum of Understanding on Reciprocal Arrangements (MOURA) should increase the supply of high quality auditors for both economies. This is important at a time when audit talent globally is increasingly in short supply. This will in turn support the continued efforts from the respective regulators of the two countries to drive high quality audit in the public interest.”

 

ACCA has discussed the issue of audit talent scarcity in its recent report Attract, engage, retain: Insights and recommendations for audit talent success, published the day before the UK/Australia agreement was announced.

 

Simon Grant, CA ANZ group executive advocacy and international development, said: “The ability to be recognised and work overseas in a truly global profession is a major drawcard for a career in audit, and this agreement provides greater clarity and confidence for auditors moving between Australia and the UK.

 

“Australia is one of the first countries to be recognised under the UK FRC’s renewed approach on mutual recognition, which alongside New Zealand, is a testament to our close ties and shared history.”

 

Mike Suffield, ACCA’s director, policy and insights, said: “This builds on the professional ties between the two countries and helps embed the value of the strategic alliance between ACCA and Chartered Accountants Australia & New Zealand which works to increase the flow of qualified accountants, including auditors, between the two countries.”

 

See the FRC/ASIC announcement.

Accountancy, Appointments, Business, Investment, Newport, South Wales

Kilsby Williams continues to grow with new appointments

Tax and accountancy specialist Kilsby Williams has strengthened its business services and tax teams as the Newport-based firm continues to grow.

Ken Vargis has been appointed as a manager in Kilsby Williams’ business services team. An assurance professional, Ken will be applying his significant auditing expertise to support the firm’s varied client portfolio.

Ken said: “I am elated to be joining Kilsby Williams at such a pivotal point in its growth. I am looking forward to working with new clients, and adding value to their business by providing robust services.”

Joining Ken in the business services team is Hannah Griffiths, a Swansea University accounting and finance graduate.

In her role as business services assistant, Hannah will be involved in the preparation of accounts for a number of clients and assisting with audits, while working towards the ACA qualification to become a chartered accountant and progress further in the firm.

In the tax team, Cardiff University graduate Luis McCarthy has been appointed as a trainee. He will support the team with the preparation of corporation and personal tax returns and will study towards the ATT and CTA exams to become a chartered tax advisor.

Ataf Salim, partner at Kilsby Williams, said: “We are focused on attracting the best accountancy and tax talent at every stage of their careers and are pleased to share the news of our latest appointments ranging from trainee to managerial level.

“As the largest independent firm in the region, it is exciting to grow even further and we know that Ken, Hannah and Luis’ work will strengthen our services.”

Established in 1991, Kilsby Williams works with clients from across south Wales, the Midlands and London, ranging from sole traders to companies in international quoted groups.

Events, Investment, South Wales

£15 billion of investment opportunities in Cardiff Capital Region showcased at largest property exhibition in the world

INVESTMENT opportunities in Cardiff Capital Region (CCR) worth £15 billion are being showcased at MIPIM – the largest property exhibition in the world.

 

A team from CCR and its ten councils are promoting South East Wales and its investment opportunities at the event in Cannes, France from March 12 to 14.

 

Considered one of the leading global real estate events, ‘Marche International des Professionals d’Immobilier’ (MIPIM) attracts more than 26,000 participants each year, including 5,000 investors, 4,800 developers, and 500 journalists.

 

It has become a prominent event in the property and asset investment world, with representatives coming together for networking, learning, and showcasing the skills and potential of their regions.

 

A number of UK regions and major cities also attend the event at MIPIM, so competition for attracting and securing investment is high.

 

The CCR team is holding a series of events across the week, highlighting its investment opportunities, commitment to sustainable development, and its communities.

 

The £15bn worth of investment opportunities include:

  • Aberthaw Power Station eco-park
  • Bridgend town centre
  • The Northern Gateway initiative
  • Blaenau Gwent Tech Valleys project
  • Cardiff Parkway
  • Caerphilly Hotel and Leisure Park
  • St Modwen Park, Newport

 

 

Further details of the opportunities can be found here:

https://www.ccrmipim.wales/investment-opportunities/

 

Among the team attending MIPIM this week and welcoming guests to the CCR exhibition stand is CCR Ambassador Dan Biggar, former Wales and British Lions rugby player, and now playing for Toulon in the south of France.

 

Kellie Beirne, Chief Executive Officer of CCR, said: “We need to sell our region’s competitive strengths on a global stage, and seek out the investors, backers and markets that like our offer.

 

“With its strategic location, thriving economy, and ambitious development projects, CCR offers investors a compelling opportunity to be part of its growth story.”

 

Kellie said Cardiff Capital Region had demonstrated economic resilience in recent times, with sustained growth across key sectors such as finance, technology and life sciences.

 

Attendees at MIPIM from CCR include local authority leaders Councillor Anthony Hunt (Torfaen County Borough Council), Cllr Geraint Thomas (Merthyr Tydfil County Borough Council), and Cllr John Morgan, (Cabinet Member for places and regeneration, Blaenau Gwent County Borough Council).

 

Councillor Anthony Hunt, leader of CCR Cabinet which comprises the leaders of the 10 local authority partners of CCR, said: “This week presents a fantastic opportunity for us to showcase Cardiff Capital Region to a global audience at a renowned industry event.

 

“We look forward to being ambassadors for the Region and we will be working hard to ensure that our attendance will bring tangible benefits for all.

 

“With our universities, research institutions, and tech start-ups, CCR is proving a hub for entrepreneurship and innovation.

 

“Our developing technology sector, in particular, is attracting attention from investors seeking opportunities in areas such as digital innovation, cybersecurity, and renewable energy.”

News, South East

Final season of ‘The Crown’ causes gold rush for coin collectors in Surrey

A Hatton Garden-based gold coin broker has reported a huge surge of investment in royal-themed gold coins since the final season of The Crown was aired on TV.

Aurum Bullion Plc has revealed that canny investors in Surrey account for a quarter of its total UK sales of coins relating to the British Royal Family in the month since the finale of the popular drama series was released.

In total, Aurum Bullion has sold £2.97m worth of royal-themed minted gold coins in the ensuing one-month period, more than £750k of which was spent by investors in Surrey.

The figure compares with just £798k in sales during the same period last year, which the company puts down to The Crown and a growing interest in Royal Family memorabilia.

Similar spikes were seen after the death of The Queen in September 2022, during her Diamond and Platinum Jubilees and following the Coronation of King Charles in May last year. But none of those spikes was as big as the one witnessed since The Crown’s final season.

Gregory Cole, founder and director of Aurum Bullion, said: “There is definitely a deep and ongoing affection for the British Royal Family which has spilled over into the gold coin collectors’ market.

“The fact The Crown TV series coincided with the run-up to Christmas and the purchasing of Christmas lasting gifts could explain some of the huge increase in investments, though sales over this Christmas period particularly have been exceptional.

“It is not totally surprising that Surrey has come so far ahead of everywhere else in the UK in terms of royal-themed coin purchases. It has one of the wealthiest demographics, and many residents in Surrey will already be pretty astute investors, a lot of them having worked in London’s financial markets.

“The older average age bracket in Surrey may also suggest that canny investors are spending their wealth on safe investment heirlooms for their children and grandchildren.

“Gold remains one of the most secure investment commodities and, similar to investment in art, collectible cars and watches, some of these gold coins are seeing significant increases in value, far outstripping returns on cash investments.”

Aurum Bullion’s most popular royal-themed products currently are a 2023 Coronation of King Charles III Gold Proof Sovereign and a 2006 Queen Elizabeth II Birthday Gold Proof Coin (Grade PF70). The term ‘Proof’ means their provenance has been certified as being in mint condition, complete with a protective, tamper-proof display pouch.

To illustrate the investment potential of collectible gold coins, the aforementioned Queen Elizabeth II Birthday coin cost £1,450 when it was released in 2006. Its current price is £5,600 – representing a 386 per cent return on investment in less than 18 years.

Similarly, the release price of a four-coin set celebrating Queen Elizabeth II’s Diamond Jubilee was £8,250 in 2012. It is now worth around £22k.

And an ultra-rare royal-themed Kew Gardens 50 pence coin that sold in 2009 for £550 was recently sold at auction for £6.8k pre-hammer, representing a return on investment of over 1,200 per cent.

“The royal coins are eminently collectible,” said Gregory. “They never seem to go out of fashion – in fact they are becoming more and more popular, especially in some of our overseas markets like China, the US and Dubai.

“The increase in investment in the gold coin market suggests that people have definitely become more informed in ways of getting a better return on their money. Another significant benefit is that any gains made on gold coin investments are exempt from capital gains tax, inheritance tax and VAT.

“Many of our clients have also indicated they’ve been forced to be more creative with their investments due to big rises in the cost of living combined with the fact that their other assets have been underperforming.”

While Surrey has claimed the top spot overall in terms of the purchase of royal-themed coins, investment with Aurum Bullion from residents in the Cotswolds has grown by 12.5 per cent during 2023, London is up by 34.6 per cent and, perhaps surprisingly, Sheffield has seen an increase of 22 per cent.

Anyone interested in the growing trend of gold coin investment should take advice to ensure they are buying from a reputable source. The safest routes to investment are typically direct with the Royal Mint, and at registered auction houses or certified dealers like Aurum Bullion Plc.

For further information, visit www.aurumbullion.co.uk. 

News

Prova doubles down on Composite Braiding investment

Prova has announced a follow-on investment in European composite materials manufacturer Composite Braiding, having initially taken an equity stake in the business back in 2022. Coming as part of a seven-figure funding round, the capital injection will be used to strengthen manufacturing, bolster the workforce and purchase equipment as the company continues to experience rapid growth.

Composite Braiding uses an award-winning automated manufacturing process to combine thermoplastics with materials like carbon, glass and basalt fibres, to create a much lower embedded carbon solution for end products spanning the automotive, rail, sports equipment, maritime, and civil engineering sectors.

The unique process reduces labour costs by up to 90%, waste by 97% and uses 95% less energy, offering significantly cheaper and more sustainable materials, at scale, and at a faster rate.

Richard Postins, founder of Prova Investments, commented: “At Prova Investments, we’re excited to continue our journey with Composite Braiding in its mission to decarbonise the composite materials industry. With its novel processes to automate the manufacture of advanced composites using sustainable materials, Composite Braiding is a great fit for our cleantech and circular economy portfolio, and we’re looking forward to offering ongoing growth and support as it continues to pioneer composite manufacturing.”

Steve Barbour, founder at Composite Braiding, added: “Last year was focused on building up foundations, while 2024 will be pivotal for kick-starting production and delivering sustainable products across a variety of sectors. The close of our latest funding round marks a new milestone the Composite Braiding business. We are grateful for Prova Investments’ backing since its initial investment last year, and we’re looking forward to the continued support they can bring to our business moving forward.”

To find out more about Prova Investments, visit www.provapr.co.uk/investments, or visit https://compositebraiding.com/ to learn more about Composite Braiding.

Apprenticeships, Construction, Construction News, News

Conservatory Outlet marks training milestone with £130,000 investment in apprentices

One of the UK’s leading manufacturers of home improvement products has celebrated more than 15 years of backing apprenticeships by offering employment to six young people.

Conservatory Outlet, which employs more than 120 staff at its Thomas Wharf Lane factory, invested more than £130,000 into nurturing future talent over the last twelve months by continuing to offer access to vocational learning opportunities and ongoing professional development.

This has resulted in Kyle Green being offered a full-time role in IT Support and Natalie Bossons, who joined in 2019, now working as an Order Processor and developing her knowledge further by undertaking her Team Leader Level 3 qualification.

Eliza Auty, Kennedy Goodwin, and Georgie Tolley have all taken Order Processing positions, whilst Missy Mortimer has just completed her apprenticeship in December and will continue to help drive the firm’s strategic marketing strategy in 2023.

Karen Starkey, Head of HR at Conservatory Outlet, commented: “We are one of Wakefield’s largest employers and believe it is critical to continue to offer new opportunities to local people.

“As we continue to grow, we have to look at ways of developing our staff and we have found apprenticeships are the best way of doing this, with the latest tranche of young people qualifying and taking on full-time roles.”

She continued: “The sizeable investment allows us to develop the individual in the ‘CO’ culture and we have a long and proven track record of offering progression routes that lead into senior positions.

“Our approach will continue in 2023. Two new apprentices have just started with us, with Ben Bradbury and Sam Allan studying towards their Business Admin Level 3 and AAT course respectively.”

Apprenticeships are one element of a strategic training programme operated by Conservatory Outlet.

In addition to vocational learning, the Wakefield-based firm also offers ongoing pathways for staff keen to progress and develop new skills.

This ranges from putting Joshua Child through his AAT and Karla Watson working towards her CIPD Level 3 (both at Wakefield College) to Ben Strutt (Business and Professional Administration Level 4), Jo Davies (Maintenance and Operations Engineering Technical Level 3) and Nikki Lewis undertaking her Marketing Manager Level 6 Apprenticeship.

Karen went on to add: “As a business, we are always trying to push the boundaries of what we can achieve, and we can only manage this by investing in our people and futureproofing their skills.

“This was reflected in 2022 when we invested a further £100,000 into creating a new sales training academy, a move that was in response to a shortage of new talent coming into the industry.”

She concluded: “We have extended this offer to all our retailers, and this is steadily developing new individuals that will hit the ground running when they join our sector.”

Conservatory Outlet is one of Yorkshire’s fastest growing manufacturers, supplying a range of conservatories, doors, extensions, orangeries and windows, with the latest advancements in UPVC, composite and aluminium technology regularly added to its ranges.

The firm continues to support the Conservatory Outlet Network, which comprises 29 leading regional retailers, and this has helped increase turnover by 20% since 2020.

Manufacturing, Manufacturing Tech, News

Eden invests in new Bruderer high-precision press to advance innovation and sustainability

Taking advantage of new export opportunities has seen a Middlesex manufacturer invest more than £300,000 into a new high-speed precision stamping press line.

Eden Limited, a specialist in optical air-blown fibre and cables fittings for the global telecommunication industry, renewed a 35-year working relationship with Bruderer UK to place the order for the BSTA 180-36B press – fitted with the latest high speed precision servo feeder.

This latest addition is being utilised to drive innovation of new product ranges and to supply existing telecoms contracts, ensuring sustainability and development of the legacy network in the UK and abroad.

This machine is already delivering greater accuracies, with Bruderer UK’s quick lift-ram technology – that dynamically adjusts bottom dead centre position whilst in operation – meaning the business can guarantee process stability and part quality to their customers regardless of the volumes required.

“A pre-owned Bruderer BSTA 30 was one of the first machines I bought when I started the business back in 1993,” explained Dave Hawkins, Chairman of Eden.

“It has given us tremendous service and reliability, so when we were looking to advance our press shops technology to make parts 10x quicker to compete with Far East made products, there was only one investment I was going to make and the new Bruderer press is going to be fantastic for us.”

He continued: “We have built our reputation on innovative products that have become and continue to be the go-to industry standard for over 20 years and, as such, are frequently copied worldwide. Investments, like the Bruderer press, ensures we keep ahead of our competition and paves the way for future expansion.

“We have seen demand increase significantly since lockdown, as we are one of the very few companies worldwide that control all elements of the manufacture in-house. This gives us a unique position in the market to supply when others could not, so much so we have invested some £1.5m over the last 18 months, culminating in the acquisition of the high-speed precision press.”

The Bruderer UK technical team, headed by Scott Baker, worked with Eden to spec the BSTA 180-36B to its exact requirements, adding a state-of-the-art high-speed precision BSV75 Servo Feeder (including automatic material thickness adjustment) and other options to help speed up tool development, tool changeovers and the efficiency of the whole process.

Adrian Haller, Managing Director at Bruderer UK, picked up the story: “This machine will future-proof Eden’s press capability for decades and delivers the unrivalled performance and repeatable accuracy it needs when manufacturing precision components.

“What is really pleasing about this project is that Dave and his team first purchased a Bruderer back in 1993 and that press has given them unbelievable service and will continue to do so. When the time came to add even further capability, there was no hesitation in coming back to us – these strategic partnerships is what our company is all about.”

Pam Gill, Managing Director at Eden, concluded: “The entire project was seamless and Bruderer’s service and support remains second to none.

“Everything was project managed for us from start to finish, meaning we could concentrate on meeting the increases in production and putting in place the platform we needed to maximise several new product and export opportunities.”