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Top Story
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Cranswick looks to build on record year
Pork-processing business Cranswick's new product collaboration with Jamie Oliver will hit supermarket shelves in less than a fortnight, with the company negotiating with other retailers interested in stocking the food range. Chief executive Bernard Hoggarth told Insider: “Jamie’s been involved in the development and the recipes. It’s going into Tesco later this month, then Asda in three months time and we’re talking to other retailers at the moment.” Cranswick posted record results last week and the business has recorded 22 years of unbroken growth. The £13m investment in the company’s facility in Preston, near Hull, is due to complete in August and Hoggarth said: “There has been constant investment, irrespective of whether times were good or bad. We sign off capital expenditure projects because the company has been successful and we need additional capacity.” Hoggarth added: “We’ve been very much focused on making sure we have the best invested facilities in the meat-processing sector. To put that into context, if you take this year’s capital expenditure project and wind that back five years, we have invested over £100m in plant and equipment into our businesses.”
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Deals
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Funding drives FireChill global growth
Cooling technology company FireChill has secured just under £1m of funding to enable it to commence production of energy-efficient refrigeration units and drive worldwide growth. Headquartered in Leeds, FireChill said the investment will fund infrastructure development, product field-testing and manufacturing mobilisation. Once its new products are in production FireChill will create up to 100 new jobs. For Insider comment, click here.
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Nexus snaps up AVH
Business vehicle rental broker Nexus Vehicle Rental has acquired Adapted Vehicle Hire (AVH) for an undisclosed sum backed by ISIS Equity Partners. AVH operates in the niche sector of adapted vehicle rental and the deal enables the Pudsey-based Nexus to offer a more comprehensive service. Nexus chief executive Neil McCrossan said: “Disability discrimination legislation has made it more important than ever for businesses to be able to support the needs of the disabled – and vehicle rental is certainly no exception.” For Insider comment, click here.
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BPE backs MBO of Wilton Group
Barclays Private Equity in the North (BPE) has backed a management buyout of Teeside engineering company Wilton Group with a £16m investment. BPE has acquired a minority stake in Wilton, which operates in the petrochemicals sector, and said the business had considerable potential for organic growth. Wilton comprises three main business units – PD&MS, Wilton Engineering Services and Universal Coatings – enabling it to offer a range of onshore and offshore engineering services. For Insider comment, click here.
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Business
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Fast-food outlet expands into Leeds
Fast-food chain Barburrito has opened its fifth UK outlet in The Light, Leeds. The six-figure investment is part of the restaurant group’s expansion plans for the UK and will create 20 jobs in the city. The company, which expects to post turnover of £2.3m for the current financial year, has three branches in Manchester and one in Liverpool and intends to open seven stores around the UK during 2010. Barburrito’s managing directors and founders Morgan Davies and Paul Kilpatrick are former Insider 42 under 42 alumni.
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Fee income “OK” at Addleshaw Goddard
Commercial law firm Addleshaw Goddard has reported fee income of £167.5m for the year to 30 April 2010, a 3.3 per cent decrease on income for the previous year. The firm, which has an office in Leeds, also revealed that profits per equity partner for the period rose by 5.19 per cent to £426,000. Managing partner Paul Devitt said: “To have generated income which is down only a little on the previous 12 months feels ok in such a challenging year.”
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Business Tourism
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Caught in the net
Fresh from a sojourn in the dramatic surrounds of Yorkshire’s coastline, Yorkshire Business Insider editor Jim Pendrill turns his thoughts to the region’s tourism industry in his latest blog. Are the empty second homes that fill small towns a blight or blessing? To hear Jim’s thoughts, read on here.
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India-UK business links promoted by UKIBC
The UK India Business Council (UKIBC) is hosting a Next Generation UK India Network (NGN) event on 9 June at HSBC’s Leeds office. The event, entitled Spotlight on Rising Stars, is targeted at young entrepreneurs interested in enhancing the UK India business relationship. UKIBC is also hosting Insight India at HSBC’s Sheffield office on 10 June, an event designed to help UK businesses break into the Indian market.
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New recruit at Conference Leeds
Conference Leeds, the convention bureau responsible for promoting meetings and events across Leeds and West Yorkshire, has appointed Paul Domeney as a new sales executive. The appointment is part of a £500,000 initiative by Welcome to Yorkshire to target growth in the £777m business tourism sector.
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Property
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To submit your property to Commercial Property Finder click here
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Industry boom benefits AMP
Advanced Manufacturing Park (AMP) in Rotherham is benefiting from a boom in South Yorkshire’s advanced manufacturing industry, according to its letting agent, property consultancy Lambert Smith Hampton. More than 60 per cent of the 95,000 sq ft Evolution @ AMP development within AMP is now being let or under offer since its completion last year. The remaining units at Evolution @ AMP, developed by UK Strategic Partnership, range from 2,300 sq ft to 13,597 sq ft.
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People
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Stein confirmed as Yorkshire Forward supremo
Thea Stein has been confirmed as the new chief executive of Yorkshire Forward. The appointment was announced by the RDA’s chair Terry Hodgkinson and follows ratification by business secretary Vince Cable. Stein will officially start in the role on 1 July for an initial period of 12 months. She replaces Tom Riordan who leaves to take over at Leeds City Council.
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Vincent to take reins at failing Doncaster MBC
Local government secretary Eric Pickles has announced the appointment of Rob Vincent as the new chief executive of Doncaster Metropolitan Borough Council, an appointment which follows the Audit Commission’s damning report into the “failing” council. The Commission said the council was not properly run, citing substandard child protection, dysfunctional politics and poor decision making. Local Government Association deputy chief executive Jo Miller, who was seconded to Doncaster as acting chief executive in April, will continue at the council until July.
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