Tag Archives: Investment

Business, Business Investment, Caerphilly, Cardiff

Cardiff Capital Region’s £45m investment in Ogi to boost digital connectivity for South East Wales

The £45m investment from Cardiff Capital Region (CCR) into Ogi, Wales’ biggest alternative network provider, represents CCR’s largest single investment into a company since its formation in 2017. The debt-financing package aims to develop and transform digital capabilities in villages, towns and cities across the Cardiff Capital Region, helping to reduce digital disparities and offer local communities and businesses reliable services and ultrafast connectivity.

Businesses will be positively impacted by having better reliable broadband, enabling greater productivity, cloud computing, AI and data storage. The investment is also foundational to the development of CCR’s high-tech sectors and key to ongoing developments like the Investment Zone.

One of CCR’s key priority sectors, the creative industries has already benefited from Ogi’s data connectivity capabilities, with the recent 2024 Paralympics live produced remotely at The Broadcast Centre Cymru in central Cardiff.

Ogi’s new full fibre infrastructure is bypassing old, worn-out connections and giving people working and living in the Region a new level of connectivity. The package will bring many benefits including local employment, and with 100,000 premises already on the new fibre to the premise [FTTP] network, it’s Ogi’s ambition to reach many more.

 

Wales Office Minister Nia Griffith said:

“This is a significant investment by Cardiff Capital Region, backed by the UK Government, which will be transformational for many people and businesses in south east Wales. Good digital connectivity is vital for economic growth and to enable people to access services and enjoy their leisure time.

“I’m delighted that the investment is being put into a Welsh company, Ogi, demonstrating the benefits of working together to create jobs and prosperity.”

 

Cllr Mary Ann Brocklesby, Leader of Monmouthshire County Council and Chair of Cardiff Capital Region Committee, said:

“This investment on a practical level means so much for residents and businesses who may have previously struggled with broadband connectivity. Bringing our Region quite literally up to speed will enhance not only user experience, but also encourage further opportunities and economic growth that align with CCR’s vision for an inclusive, next generation digital infrastructure.”

 

Cllr Andrew Morgan, Leader Rhondda Cynon Taf County Borough Council
and Portfolio Holder for Infrastructure and Major Projects Delivery, said:

“This major project is being delivered with the express aim of enabling our Region to compete on so many levels. I’m looking forward to the next stages of this Welsh company’s development and seeing even more of the Region benefit from the capabilities of full fibre today, in readiness for tomorrow.”

 

Ogi’s Chief Executive Officer, Ben Allwright, said:

“Right from the start, our ambition has been to become a leading Welsh telecoms company, and the last few years have certainly laid strong foundations for that goal.

“With key strategic sites like Aberthaw to the south and the heads of the valleys to the north, there’s massive potential across the capital region – and partnering with CCR at such an exciting time in their own development is the next logical step for Ogi’s growth in southeast Wales.”

Business, Cardiff, Cardiff News, Development, Investment, Investment News

Innovation Investment Capital announces multimillion-pound investment in Transcend Packaging

Innovation Investment Capital Limited Partnership (IIC), the Cardiff Capital Region (CCR) backed fund, has today announced a multimillion-pound investment into Transcend Packaging (‘Transcend’), the Ystrad Mynach headquartered sustainable packaging company. This investment round has been supplemented by additional equity from significant global corporations, including ITOCHU Corporation, one of Japan’s largest companies and a leading provider of pulp and paper products, providing further investment to the overall region.

 

Transcend is a leading innovator of environmental packaging solutions across the food service and beverage sectors. It supports a new sustainable manufacturing landscape, driven by improved recyclability and reusability legislation and net zero targets, with 290 employees, across three locations. Since launching in 2017, Transcend has successfully innovated and disrupted the traditional packaging sector, recently developing a first to market premium polyethylene-free cup, highlighting its significant ESG credentials.

 

IIC’s decision to invest was based on a variety of factors, but the commitment to expand its R&D facilities, production innovation with impressive intellectual property, strong experienced management team and blue-chip customer base all supported the decision.

 

Launched in November 2022 and backed by UK Government funds with an initial £50 million from CCR, the fund is looking to invest long-term capital in innovative, sustainable growth opportunities across the ten unitary authorities in the CCR. Capricorn Fund Managers (CFM) is the Alternative Investment Fund Manager (AIFM), responsible for managing the fund and the overall portfolio and risk management, with PwC supporting CFM in advisory matters, including investment research and sourcing. The Transcend investment is IIC’s third investment, following on from AMPLYFI (the Cardiff-based generative artificial intelligence business) and Mazuma (a Bridgend-based tech enabled accountancy platform).

 

Councillor Mary Ann Brocklesby, Chair, Cardiff Capital Region, commented: “Transcend is an exceptional local growth story that we are looking to help scale to even greater heights. Our investment, alongside other investors, will help encourage further growth and development in Ystrad Mynach and the broader Caerphilly region.”

 

Lorenzo Angelucci, Transcend CEO, added: “We are thrilled to receive this substantial investment from IIC, which underscores the confidence in our vision and strategy but also empowers us to accelerate our innovation and expand our R&D capabilities. With the support of IIC and our new investors, we will continue our disruptive journey in the sustainable packaging industry, furthering our commitment to environmental stewardship and economic growth in the Cardiff Capital Region.”

 

“In only seven years, Transcend has built one of the most innovative and sustainable packaging businesses globally. Its growth to date and future commercial partnerships positions it impressively for further growth”, said Rob Asplin, PwC Partner. “Sustainable packaging is a fast growth market and highlights the desire of the fund to support net zero propositions.”

 

Councillor Sean Morgan, Leader of Caerphilly Council, further added: “We’re delighted to have such a success story on our doorstep, bringing real economic benefits and social value to Caerphilly and beyond.  Transcend Packaging’s success is based on innovation and sustainability and the solutions they are developing here in Caerphilly will benefit the environment and communities in many countries.”

 

“Our Transcend investment fulfils much of the IIC investment criteria, not only by investing in innovative sustainability solutions, but also backing an exciting local business to scale up and encourage other international players to invest in the CCR. The benefits to Ystrad Mynach and the wider region will be felt for years to come,” concluded Lynda Stoelker, Capricorn Fund Managers’ COO and Chair of the IIC Investment Committee.

 

For further information on the Innovation Investment Capital visit http://www.innovationinvestmentcapital.com.

News

New Filming Studio and Equipment Investment at E-Training World

Multi-award-winning online driver profiling and e-driver training provider E-Training World has made a significant investment in filming facilities and equipment to further upgrade its next-generation online driver profiling and training experience.

In 2023, the company launched its new online driver profiling and e-driver training system after two years of software development and over 5,000 miles of filming. Available on a globally recognised software platform, with a tablet- and mobile-ready experience, the system uses high-definition in-vehicle, roadside and drone video footage to genuinely replicate the on-road experience.

E-Training World has now made a substantial investment in new office space, which includes an additional ‘Green Screen’ studio. The ‘Green Screen’ is an excellent tool for superimposing footage behind actors, and the permanent studio allows for superior sound and lighting when filming training videos, demonstrating the company’s commitment to providing best-in-class driver training.

Graham Hurdle, managing director at E-Training World, commented, “Taking filming, editing and production in-house gives us far greater flexibility to produce high-quality driver training modules. We have also invested in staff training for drone flying, filming and editing, as well as hi-tech cameras, sound equipment, lighting and drones. In the videos, we are using actors who have been in TV advertising and some well-known dramas. This investment in high-quality production means we can provide engaging training experiences at the leading-edge of driver training solutions.”

E-Training World is a two-time winner of the BusinessCar Techies’ Best Risk Management’ Award and a company that pioneered online driver profiling and training. As well as serving some of the largest fleet operators in the UK, they provide branded/white-labelled systems to many of the best-known companies in the fleet sector.

Awards, News

Lifetime achievement award for B-ICC’s Gideon Klaus

A lifetime achievement award has been presented to Gideon Klaus to honour him for nearly 30 years’ service as executive director of the British-Israel Chamber of Commerce, which promotes and strengthens trade and investment links with the north west.

Gideon, 86, stood down last summer and was succeeded by Nigel Tobias, an experienced entrepreneur with a background in retailing, property and consulting.

Nigel presented the accolade to Gideon at a B-ICC breakfast event in Manchester.

Gideon, who remains involved as the B-ICC’s vice-chairman, said: “It was a great surprise and very emotional to receive the award.

“I started with the organisation in October 1994 and have thoroughly enjoyed working with companies and individuals in the north west and Israel to help them build connections and do business together.

“Israel and north west England are catalysts for many global innovations and it’s been wonderful and satisfying for the B-ICC to play a part in fostering greater collaboration through joint ventures, partnerships and product development.

“I’m pleased that the B-ICC is going from strength to strength, with new people at the helm who have the right skills to take it to the next level.”

As well as being vice-chairman of the B-ICC, Gideon is involved in forging business links with Israel through a number of other advisory and consulting roles.

The B-ICC was relaunched last year with Nigel as executive director and Manchester lawyer Robert Levy as president alongside a new committee.

It has a substantial membership base of individuals and businesses involved in sectors including professional services, banking and finance, property development, retailing, clothing and importing.

Robert said: “Our mission is to build business links between UK and Israeli businesses to create relationships, mutual understanding and opportunities.

“We help UK companies aiming to enter the Israeli market, as well as those seeking to source new products and services, and we promote the north west as a business location for Israeli firms looking to expand overseas.

“The B-ICC does this by providing professional support and advice as well as by arranging trade missions and organising events and networking opportunities.”

Nigel said: “Gideon has given tremendous service to the B-ICC and has been steadfast in building lasting business relationships between the UK and Israel. Everyone connected with the organisation has great respect for all that he does.

“He is a hard act to follow but Robert and I, together with our new committee, are working to the best of our ability to build on his good work and we will continue to seek Gideon’s advice regularly.

“Following two recent events, we have had nearly two dozen new members or expressions of interest in joining, which we are delighted about.

“We continue to engage with trade missions from Israel to the north west, including most recently for the water industry.”

Israel is currently the UK’s 41st largest trading partner. New figures from the Department for Business & Trade show total trade between the countries in 2023 was £6.1bn, with the north west accounting for £272m.

News

£2m restoration works completed at Manchester Opera House theatre

A £2m facelift for the façade of Manchester’s historic Opera House theatre has been completed.

Salford-based MC Construction was the principal contractor for the scheme.

The restoration project included extensive repairs to the render, brickwork, windows and ironmongery fixings, weatherproofing works, the replacement of rainwater goods and a full decoration of the main façade to ensure a more historically authentic exterior and to help safeguard the venue for future generations to enjoy.

Careful analysis of the existing paint layers stretching back over a century was undertaken, so that the colour scheme of the 15-bay façade and windows now better reflects how the venue would have looked when it opened in 1912.

The theatre remained open throughout the restoration project.

The scheme forms a significant part of a £4.5m capital investment this financial year across the Opera House and its sister venue in Manchester city centre, the Palace Theatre, which are both owned by ATG Entertainment.

The Opera House is a grade II listed building which was originally called The New Theatre. It has been through several iterations and was renamed the Opera House in 1920.

It is one of the largest theatres in England, with a seating capacity of 1,920. The venue plays host to high-profile concerts, plays, musicals, ballets and a Christmas pantomime.

Famous shows performed there over the years include Phantom of the Opera, Barnum and Oliver! plus a host of world premieres, such as Bat Out of Hell: The Musical and Take That‘s musical The Band. During its long history, it has also served as a bingo hall and a cinema.

Russ Forshaw, managing director of MC Construction, said: “Drawing on our extensive experience of successfully delivering projects at numerous listed buildings and other landmarks across the city, such as The Whitworth art gallery, Manchester Museum and the Imperial Chinese Arch in Chinatown, we are delighted to have undertaken this restoration scheme at the Opera House, which is less than a mile from our company headquarters.

“Once again, our team have produced the goods and left their mark on a cherished Manchester building. It was great to work with the ATG Entertainment, whose ongoing investment in its buildings ensures they can continue to delight audiences across the north west and beyond.”

Robin Hawkes, theatre director at the Opera House and Palace Theatre, said: “In tandem with the Palace, the Opera House has been a jewel in the heart of Manchester’s cultural fabric for many generations.

“I am delighted we’ve been able to restore and refresh the theatre’s beautiful Edwardian exterior, as part of a wider suite of works which will improve the experience of everybody visiting and using the two venues for years to come.”

Stefan Ziemelis, senior project manager at ATG Entertainment, added: “In addition to delivering essential repair works, this project has also been driven by the celebration of the intrinsic character and uniqueness that is woven into this heritage building.

“Working with our partners to breathe new life into the Opera House has been a rewarding experience, and it’s good to know that the work we have completed here will preserve and protect the theatre for future generations of theatre lovers.

“The façade restoration project has been carried out by MC Construction and its partners in a thoroughly professional manner with minimal disruption to our patrons, and we are delighted with the outcome.”

Other professionals involved in the Opera House restoration project included Motion Project Management, Osbornes Chartered Architects, quantity surveyors Marshall Kenny and design consultancy ORSA.

MC Construction is a family-owned business which employs more than 60 staff.

Founded in 1971, the company delivers complex construction projects throughout north west England with a focus on the commercial, education, heritage, hospitality, industrial, local authority, social housing and healthcare sectors.

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.