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June 22, 2022

Acquisition of Mactaggart & Mickel’s housebuilding business

Springfield acquires premium Scottish housebuilding business and timber frame factory… Springfield Properties (AIM: SPR), a leading housebuilder in Scotland delivering private, affordable and PRS housing, is pleased to announce that it has entered an agreement to acquire the Scottish housebuilding business of Mactaggart & Mickel Group Ltd (“Mactaggart & Mickel”),

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‘Colourful Careers in Coatings’ with HMG Paints

The UK coatings industry faces a shortage of skilled staff, and an ageing workforce at a time when it is experiencing increasing demand for improved product performance and sustainable solutions. As the UK’s leading independent paint manufacturer, HMG Paints are investing significantly in staff recruitment across the business including in

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PERKS OF INVESTING IN A GPS SOFTWARE TO TRACK YOUR FLEETS

Thousands of businesses worldwide rent and hire machines, tractors, and other automotive equipment daily for professional purposes. Keeping watch over each piece of equipment can become challenging, resulting in financial losses that adversely impact the business. Fortunately, industry experts can prevent these losses by using a reliable and sophisticated GPS

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Latest Issue

BDC 318 : Jul 2024

June 22, 2022

Updated HS2 designs near Lichfield bring environmental and community benefits

Updated HS2 designs at Streethay near Lichfield result in 80% less concrete, cutting carbon on the project They also significantly reduce visual impacts and mean less disruption to local communities More planting will blend with the area’s natural landscape character HS2’s designers have reduced the length of wall structures for the railway at Streethay from 1.6 kilometres to 420 metres, meaning 80% less concrete will be needed, supporting HS2’s ambition to cut carbon on the project. This will save around 70,000 cubic metres of concrete, the equivalent to 6,700 concrete mixer lorry loads. In total, around 420,000 tonnes of carbon has been saved in this area of the project. The railway will pass through Streethay in a cutting, and the shortening of the retaining structures also means the community will experience less noise and disruption during construction because fewer large machines will be needed on site. Most of the Streethay cutting will now have sloping earth banks, improving the visual appearance of the railway and increasing the opportunity for wildlife habitats and landscape planting to protect against noise from the railway. The updated design also results in a shorter diversion of Fulfen Wood watercourse. The early proposed design was for the railway to cross over the A38 Rykneld Street, A38 southbound slip road, and the South Staffordshire train line. As a result of community feedback received during the public consultation, the design was changed in 2017, with HS2 now passing beneath these roads and the railway in a cutting, which greatly reduces the visual impact of HS2 in this area. Simon Hinsley, Senior Project Manager for HS2 Ltd said: “As we’ve been developing the detailed design for HS2, it’s vital that we try to minimise impacts and get the best solution for the communities near the new railway line. We listened to the community back in 2017 and changed the design from viaduct to cutting, and we’re pleased that these further updates bring more benefits, both for the local community and the environment – better visuals, less carbon from concrete, shorter construction period and more environmental features.” Andy deBell, Head of Stakeholder Engagement for BBV, said: “We’re pleased to confirm these new and improved design changes, which we’ve introduced after working closely with the local community. “This new design will see the HS2 line pass underneath the A38 and neighbouring railway line, bringing significant environmental and community benefits. We’ll need to work on the slip road to the south to deliver these changes, which we understand will cause some localised disruption. However, we’ll do everything we can to minimise any impact as much as possible. Phased traffic management and signposted diversions will be in place during this phase of the work. “We’ll continue to make sure the local community is kept updated, providing more detail on the works before they begin and during construction. There’ll also be opportunities in the near future for local residents and businesses to attend community drop-in sessions, where they can find out more about what’s going on in their area.”

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Caddick Construction appointed for “out of this world” office scheme in Crewe

Caddick Construction has been appointed by Radius Payment Solutions to deliver its £14.6m state-of-the-art facilities at Arden Square on Crewe Business Park. The three-storey structure will be constructed to BREEAM excellent standards, making it both energy efficient and a great working environment. Consistent with Radius’s other facilities in Crewe the focus will be on employee wellbeing.  Design features include a barista coffee bar, pizzeria, Star Wars themed sky bar and outdoor seating and yoga areas all built around  an eye-catching conical shaped glazed atrium. The 41,043 sq ft office scheme will also include 128 parking spaces, 25 of which will have electric vehicle chargers installed and operated by Radius’s fast-growing e-mobility business. Radius Payment Solutions, a world leading provider of mobility and connectivity related products and services to SME businesses, appointed Caddick Construction in April of this year with work starting on site late May. The project is due to complete in the summer of 2023, facilitating Radius’s plan to expand its Crewe based workforce to in excess of 1,000 by that time. Crewe Business Park is a 67-acre site off the A534 and is already viewed as one of the North West’s premier business parks that’s home to several research-based and high tech manufacturing centres. Following the appointment, Caddick Construction Manager Ben Edwards said: “It’s not often you get such a high-quality office scheme that has so many unique elements to it. The team are really excited to be on site and I’m sure as we get towards the fit out stage there will be a lot more visitors than usual wanting to check out its ”out of this world” features!” CEO of Radius Payment Solutions Bill Holmes added: “Development of this exciting new building is key to our commitment to maintaining a great working environment for all of our employees.  I’m particularly excited that it will incorporate state of the art testing, warehousing and dispatch facilities for our telematics business, supporting our ambition to become one of the true global leaders in this high growth market.” Radius Payment Solutions, which has more than 2,150 staff worldwide, is already headquartered at Radius Campus on Crewe Business Park and also has offices at nearby Herald Park. Signalling its continued commitment to the town, the additional floor space being created at Arden Square will be used for future “growth and development” of the company added Mr Holmes. Radius currently has over 50 offices across Europe, US, Australia and South East Asia. Since it was established in the UK in 1990 it has grown internationally by forging partnerships with global brands and has built a loyal base of more than 300,000 customers. Architects on the scheme are AEW Architects, with Cundall and David Webb Associates appointed as engineers. Walker Sime is providing quantity surveying services, with interior design by Space Invader.  Project management is provided by Avid Property Consultants.

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Acquisition of Mactaggart & Mickel’s housebuilding business

Springfield acquires premium Scottish housebuilding business and timber frame factory… Springfield Properties (AIM: SPR), a leading housebuilder in Scotland delivering private, affordable and PRS housing, is pleased to announce that it has entered an agreement to acquire the Scottish housebuilding business of Mactaggart & Mickel Group Ltd (“Mactaggart & Mickel”), which has been delivering high-quality housing across the Central Belt of Scotland for almost 100 years. The total consideration is £46.3m, comprising £10.5m cash paid on completion and a deferred cash consideration of £35.8m to be paid proportionally as homes are sold over the next five years (the “Acquisition”). The Acquisition will be funded from Springfield’s internal resources and existing debt facilities with Bank of Scotland. Under the terms of the Acquisition, the Group has acquired six live private and affordable sites with work in progress with a fair value of approximately £15m and fixed assets. The Group has also acquired a brand licence to build homes as Mactaggart & Mickel on a further 11 private and affordable sites, which will transfer to Springfield as homes are sold in line with the payments of the deferred consideration. The total 17 sites, of which 16 have planning permission and equating to the delivery of c. 700 homes, have a gross development value of c. £230m. The Group expects to generate gross margins on these sites materially in line with margins delivered by the rest of the Group. Springfield intends to retain all of Mactaggart & Mickel’s housebuilding business employees. The Acquisition also includes Timber Systems, a timber frame factory near Glasgow. The Group already constructs 90% of its homes from timber kits and the addition of a second timber frame factory will secure kit supply and increase capacity for future growth while further reducing its carbon footprint. Springfield will retain all of Timber Systems’ employees. In addition, Springfield and Mactaggart & Mickel have established a strategic alliance with an agreement that gives Springfield opportunities for future acquisitions of sites from Mactaggart & Mickel’s remaining land bank of approximately 2,300 acres across Scotland. The housebuilding business of Mactaggart & Mickel is a premium brand housebuilder primarily targeting the larger private home market. The land bank is in highly desirable locations within the Central Belt of Scotland, expanding the Group’s footprint in areas with a higher price point.  The payment of the deferred cash consideration is subject to an annual minimum payment of £7.7m from the second year following completion. Each annual minimum payment will be reduced by any excess deferred consideration paid by the Group over the annual minimum payment in the prior year. The Group has the option to defer any year’s minimum payment by 12 months. The consideration for the Acquisition will initially be satisfied from the Group’s existing cash and debt facilities and the deferred consideration will be paid proportionally as homes are completed. It will also partly utilise the Group’s existing uncommitted land purchase budget for the next five years. The Acquisition is expected to be earnings enhancing in the current year to 31 May 2023. For the year to 31 May 2022, the Group expects to report results in line with market expectations, with good revenue growth and a better-than-expected reduction in net debt to c. £39.0m at year end (30 November 2021: £43.0m). Further details will be provided in the Group’s full year results announcement, which is expected to be published in September 2022. Innes Smith, Chief Executive Officer of Springfield Properties, commented: “We are very pleased to welcome Mactaggart & Mickel’s Scottish housebuilding business into the Springfield Group. As well as bringing another premium brand into the Group, this acquisition gives us land, with planning permission, in areas of significant demand. The structure of the acquisition – with the majority of the payment to be made as homes are completed – de-risks the deal and creates an effective and efficient means of acquiring land. “The addition of a timber frame facility in the Central Belt, alongside our existing facility in Elgin, secures our supply of timber kits and provides further capacity to support our next stage of growth. It will also reduce our carbon footprint by enabling local manufacture of all kits. “We welcome our new colleagues to the Group and look forward to working together to continue delivering high-quality homes across Scotland.” Paul McAninch, Group Finance Director of Mactaggart & Mickel, added: “We welcome this agreement with Springfield, which we believe provides a strong platform for growth for both parties. “Our company has had a proud tradition as a leading housebuilder in Scotland, which is built on the work of its dedicated teams. “This tradition will continue, and I’m pleased that there will be continuity of employment as a result of this agreement. I’d like to thank all our staff for their dedication over the years as we look to our second century as a successful business. I’d also like to wish transferring colleagues every success for their future.”

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‘Colourful Careers in Coatings’ with HMG Paints

The UK coatings industry faces a shortage of skilled staff, and an ageing workforce at a time when it is experiencing increasing demand for improved product performance and sustainable solutions. As the UK’s leading independent paint manufacturer, HMG Paints are investing significantly in staff recruitment across the business including in their research and development facilities and pro-actively working to attract experienced coatings formulators whilst also developing the next generation of staff to handle these challenges. “People are at the heart of HMG and we’re always looking to create the best environment for our people to thrive” commented Steve Crossman, COO. “Be it the annual staff BBQ, 1pm Friday Finish or Christmas & New Year off we always try to ensure we provide a great work life balance where our staff can develop professionally and personally.” The nature and variety of HMG’s customer base & product portfolio means that there is a broad range of roles and opportunities within the company from apprentice and graduate opportunities in production and operations to roles for experienced chemists within the Laboratory. These roles include technical positions such as paint technologists, research & development chemists and colour specialists with one eye on a sustainable, net zero future. Believe it or not the company even have roles that require watching paint dry. HMG’s portfolio of wet paint and aerosols cover virtually every type of surface imaginable across a whole host of industries including industrial, commercial vehicle, decorative, automotive, defence, toll manufacturing, wood finish and arts & craft and the company is now looking to further develop its staff to handle increased customer demand. Colourful Career Opportunities One area HMG has really pushed the boundaries over the last few years is within their Advanced Colour Design department. The success of the department means that HMG are now looking to further expand its colour development and formulation team who are responsible for the companies library of over 90,000 colour formulations. The Advanced Colour Design team work very closely with customers to develop bespoke colour options and solutions for customers in a variety of fields including decorative, automotive, model and hobby. The team have worked on a number of high-profile projects including the Jaguar CX-17 (F-Pace), paint for Aston Marin Racing that was revealed at the Geneva Motor Show, a unique gold for angel statues at the Parisian Hotel and Casino in Macau, interior design palettes for leading decorative brands and the team even worked on the restoration of Emerson Fittipaldi’s iconic Lotus F1 car along with many other projects. Training and Development “HMG Paints has a long and proud history of developing our own technical team and we have some very exciting opportunities available as our business continues to grow” commented COO, Steve Crossman. “Having started myself as an apprentice in the laboratory I know first hand about the exciting challenges and opportunities that lie within HMG Paints. We have a great track record of nurturing our own talent in-house but also combining that with attracting experienced professionals within the coatings industry.” After various roles in the laboratories including development chemist and Technical Director, as COO Steve is now keen for the next generation of talent to be developed within HMG. A key facet of this is utilising the knowledge and experience of existing lab staff and combining that with training organisations, courses and guidance provided by PRA, BCF and OCCA. The coatings industry and HMG’s broader appeal can be further strengthened with links to academic institutions, illustrated recently by HMG’s participation with the Chemistry in Industry module conducted by OCCA at the University of Salford. This route has helped HMG produce a number of home-grown coating chemists over the years including Darren James, who is a previous recipient of the British Coatings Federation Student of the Year award. This award is presented to the student who, in the opinion of the tutors of the Coatings Training Institute, has consistently demonstrated the highest level of understanding and achieved outstanding scores in examinations and practical work when completing their training modules.  “I was over the moon! Being up against people who had much more chemistry experience behind them, I didn’t think I was going to win. The help and guidance of my colleagues at HMG really helped with my development. I now work on some very innovative projects for our customers and it’s a very proud feeling when you see products you developed being used in the real world to solve customers’ problems.” said Darren. Another success story of HMG’s investment in staff and training is, HR Assistant Melissa Strowbridge. Melissa has recently completed her Degree Apprenticeship at the University of Salford and has also talked at the Houses of Parliament about the importance of apprenticeships. Melissa added, “The benefits of doing the degree via an apprenticeship route was that I was able to apply my learning directly to the workplace. Throughout the programme I developed both professionally and personally and I can now bring these skills into the workplace. I have a fantastic grounding for the future thanks to the University of Salford and HMG.” Varied Products HMG Paints provide coatings across a spectrum of industries which creates great variety in the projects their technical team work on. Many of the projects are also innovative within the coatings industry. HMG were the first paint manufacturer to develop and commercialise Graphene containing coatings for a variety of industries, with the coatings today being used on Commercial Vehicles across the UK. On the other end of the development spectrum, Graduate Apprentice Avese Umar has recently led the redevelopment of the company’s artist Oil Colours. The range originally developed in the 1940’s has been reformulated to combine traditional performance with modern and sustainable raw materials. The range is used by leading artists including Carl Melegari, Frank Auerbach and Jake Attree, with artworks that use the range hanging in galleries across the globe. To see a full list of HMG Paints products and services visit www.hmgpaint.com via the website you can

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PERKS OF INVESTING IN A GPS SOFTWARE TO TRACK YOUR FLEETS

Thousands of businesses worldwide rent and hire machines, tractors, and other automotive equipment daily for professional purposes. Keeping watch over each piece of equipment can become challenging, resulting in financial losses that adversely impact the business. Fortunately, industry experts can prevent these losses by using a reliable and sophisticated GPS tracker to keep an eye on their equipment, even when they operate over long distances. The high-end software does more than monitoring the machines, enabling companies to enjoy greater returns on investment. Businesses investing in these fantastic products for the first time will find the following benefits of doing so remarkably interesting. Route Optimisation The best advantage of wearable technology for fleet management is that you can quickly and effortlessly identify the best, safest, and shortest routes for your equipment. Managers can use location and drive data to chart new and more efficient courses, enabling drivers to manoeuvre the vehicles more effectively. Another advantage of this type of route deliberation and planning is that companies can save a lot by reducing commute times, ensuring the machines reach their location and leave on time. It can also help prevent dangerous paths that lead to cargo theft and other losses due to poor road conditions. Excellent Safety Besides reducing administrative roles and saving time, the software can make work safer for large and small machine operators. For instance, it can facilitate pre-work inspections, shutting down the equipment entirely until the proper and essential examinations are done. Also, the geofencing feature ensures the precious fleet does not leave a set boundary without the necessary permit, preventing thefts and accidents. If the equipment is on dangerous ground, operators can remotely monitor it and shut it down from incredibly long distances. Moreover, it has integration capabilities, allowing companies to communicate important information with one another at all times, boosting security and safety measures. They can track their property twenty-four-seven, ensuring it remains safe and operational whenever necessary. Cost-effective When you chart short drive paths using the technology, it helps you save massively on fuel costs in the long run. Also, since you will pick the safest and best roads for your fleet to ply on, you can enjoy reduced repair and maintenance costs. All this will eventually lead to improved customer satisfaction, leading to increased demand. Ultimately, the above things will help your company make more enormous profits by maximising productivity and saving more. You will undoubtedly scale new heights in shorter periods with the undeniable aid of this indispensable modern technology. Expert Manufacturers The best GPS tracker is provided by specialists with over a decade or two of experience in the industry, using their wealth of experience and know-how to ensure optimal profits from the software. You can read case studies on their official websites to learn how their product can help companies save money and prevent short and long-term losses. Moreover, they have custom trackers that benefit various industries and their changing needs, such as rental companies, construction industries, and trade businesses. Their product has incredible features that ensure maximum efficiency at all times, enabling businesses to track every piece of machinery easily. Therefore, investing in this valuable tracking technology will be among the best business decisions your company can make.

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