Latest news-in-brief from around the region...
US giant completes takeover of Ansty-based Meggitt
US engineering firm Parker-Hannifin has completed its £6.3 billion takeover of aerospace company Meggitt. Parker, which makes engineered products for the aerospace, automotive and manufacturing industries says the acquisition will provide complementary technologies and increase the aftermarket mix of its aerospace business. Parker also has manufacturing facilities in Warwick.
https://www.insidermedia.com/news/midlands/takeover-of-meggitt-in-6.3bn-deal-completes
Planning submitted for North Warwickshire MIRA South site
Private equity investor and developer Evans Randall Investors has submitted a planning application for a major expansion of MIRA Technology Park (MTP), on the A5 Watling Street near Nuneaton. The proposed Southern Manufacturing Sector will link directly into the existing MTP site, adding an additional 2.3m sq ft, bringing the total size of the development to 3.5m sq ft.
https://www.commercialnewsmedia.com/archives/124410
Innovative truck-maker showcases delivery truck
REE Automotive, an automotive technology company and provider of electric vehicle (EV) platforms, has announced P7-B, a class 3 delivery truck built on a P7 cab chassis, following intensive customer evaluations at its UK Engineering Centre in Nuneaton. The new P7-B is part of a fleet of vehicles available to prospective customers to evaluate, test, and experience the unique agility, performance, and design enabled by REE’s novel REEcorner x-by-wire technology.
https://www.globenewswire.com/news-release/2022/08/11/2496566/0/en/REE-Automotive-Debuts-P7-B-an-Electric-Class-3-Box-Truck.html
Jaguar Land Rover opens new lab at Gaydon campus
Jaguar Land Rover have opened a new testing facility to test future generations of vehicles for electric and radio interference. The Electromagnetic Compatibility laboratory in Gaydon will help to make sure new vehicles meet current and future legislation and quality standards regarding electronics and connectivity. The first vehicle to undergo these test was the new Range Rover Sport which launched in May.
https://www.business-live.co.uk/manufacturing/jaguar-land-rover-opens-electric-24661908
Hydraulic Tech Company expands Exhall site
Hydraulic solutions designers and manufacturers Savery Hydraulics has announced it is expanding its headquarters in Exhall, near Coventry. The British engineering firm, which has existed in one form or another since the industrial revolution, is planning to develop an additional 23,000 square foot warehouse unit at Grovelands Industrial Estate, Longford Road.
https://www.businessinnovationmag.co.uk/savery-hydraulics-expands-coventry-site/
Jaguar Land Rover order book strong as losses continue
Jaguar Land Rover has reported first quarter revenues of £4.4 billion, racking up a loss of £524 million thanks to supply chain problems and the Covid lockdowns in China. But it reports orders at record levels and continues to expect significant improvement during the financial year ending 31 March 2023.
https://www.businessinnovationmag.co.uk/jaguar-land-rover-losses-rack-up-at-524m-due-to-global-semiconductor-supply-and-covid-lockdowns-in-china/
Warwick-based Onto raises $60m to support growth
All-inclusive electric car subscription service Onto has raised $60 million in equity in a Series C funding round led by Legal & General. The round will enable the business to consolidate leadership in the UK and expand into Europe, starting with Germany.
https://www.privateequitywire.co.uk/2022/07/27/316381/legal-general-leads-60m-series-c-funding-round
Work begins on Calgavin Centre for Flow Research in Alcester
Planning consent for the development of a new, purpose-built headquarters building has been secured onn behalf of British chemical engineering firm, Calgavin. Stratford-upon-Avon District Council has given approval for construction of a 36,381 sq ft building with integral Grade A office space, on a prominent 2.3-acre site at Alcester Employment Park. The new development will be known as the Centre for Flow Processing and will become a focal point for the integration of commercial and university-led research.
https://www.insidermedia.com/news/property/chemical-engineering-firms-hq-gains-planning-permission
Warwick tech company welcomes new chair
The Warwick-headquartered technology and network services company, Telent, has appointed Paul Lester CBE as a Non-Executive Director and Chairman of the company.
He succeeds David Naylor-Leyland who is stepping down as Chairman after 12 years in the position.
https://www.businessinnovationmag.co.uk/warwick-based-telent-appoints-new-chair/
Leamington Spa identified again as hub for the gaming industry
Known as ‘Silicon Spa’ the town has become one of the largest gaming hubs within the UK games ecosystem, employing over 2,000 highly skilled people – over 10 per cent of the UK total in games development. Recent reports Game Changers and Tech Cities by commercial real estate advisors CBRE say small locations beyond London and the larger regional cities are punching above their weight as gaming locations.
https://www.businessinnovationmag.co.uk/leamington-spa-identified-as-uk-hub-for-gaming-industry/
Building contractor begins work on landmark Creative Quarter Development
Building conservation specialist contractor Croft Building & Conservation has signed a £4.2 million contract with regeneration specialists Complex Development Projects (CDP) to restore and convert three derelict buildings in Spencer Yard into office space for creative and digital businesses.
https://www.businessinnovationmag.co.uk/restoration-of-three-leamington-buildings-to-begin-after-4-2-million-deal-agreed-with-midlands-contractor/
Stratford Medtech firm acquired for £5.5m
Roquefort Therapeutics PLC has completed its acquisition of Stratford-upon-Avon biotech firm Oncogeni Ltd for £5.5 million.
https://www.proactiveinvestors.co.uk/companies/news/992914/roquefort-therapeutics-completes-oncogeni-purchase-martin-evans-joins-board-992914.html
Medtech firm moves HQ to central Stratford
Newson Health is moving to Bridgeway House offices in Stratford-upon-Avon town centre, taking 8,330 sq ft of Grade A office space across the ground and second floors as their new headquarters. It is the largest letting within the town centre for several years.
https://www.thebusinessdesk.com/westmidlands/news/2067080-new-headquarters-for-world%E2%80%99s-largest-menopause-clinic
Warwick office campus welcomes new Medtech Firms
A leading interior design consultancy has been appointed to carry out £4.5m refurbishments at Opus 40 Business Park, Warwick, on behalf of companies in the medical and healthcare sectors. Medical equipment manufacturer, Quanta Dialysis Technologies, plans to open a new 23,293 sq ft state-of-the-art development facility at the revamped office building. Meanwhile Alliance Medical, the diagnostic and molecular imaging services provider, will move into a 9,505 sq ft activity-based, hybrid working environment.
https://ukdaily.news/westmidlands/office-principles-north-lands-redevelopment-contracts-9729.html
Major Nuneaton logistics campus construction underway
Leading logistics service provider Rhenus Warehousing Solutions, developers Baytree Logistics Properties and AXA IM Alts have officially broken ground on a major new development at Baytree, Nuneaton, which will create hundreds of new jobs for local people on completion. The site will consist of two warehouses, totalling one million square feet. The first warehouse is completing this year and will be 210,000 square feet. The second, which is due to complete in early 2023, will be 771,000 square feet.
https://www.rhenus.group/news-media/detail/work-commences-on-major-new-sustainable-development-in-nuneaton-for-logistics-specialist-rhenus
Hams Hall completes with letting of DC4
Prologis has successfully pre-leased all of speculatively built Prologis Park Hams Hall with final unit, DC4, being let to West Midlands-based AMG Logistics on a 15 year lease. The full occupancy of the Park, ahead of practical completion later this summer, demonstrates the site’s strength and broad appeal particularly to both automotive and logistics sectors. Other recent lettings include to battery technology company Britishvolt.
https://www.businessinnovationmag.co.uk/full-occupancy-at-prologis-park-hams-hall-as-final-unit-is-let/
South Warks office market continues to perform strongly
Lingerie retailer Bravissimo has agreed a ten-year deal to lease new office space at a Midlands development. The deal is one of a pair concluded by commercial property agents Bromwich Hardy for the Tachbrook Park site at Leamington Spa. The firm said the two deals offered further evidence of high levels of demand for quality accommodation in the office market in the wake of the Covid pandemic.
https://www.bromwichhardy.com/News/Lingerie-retailer-Bravissimo-agrees-deal-for-new-office#:~:text=Leading%20lingerie%20retailer%20Bravissimo%20has,Park%20site%20at%20Leamington%20Spa
Halfords and Palmer Foundation team up to boost apprenticeships
Former Aston Martin CEO and current Switch Mobility CEO Andy Palmer has teamed up with Halfords to try and encourage more young people to work in the car industry, starting out – as he did – with an apprenticeship. The UK currently has a shortage of qualified motor technicians, while even fewer are being trained to work on electric cars. The Palmer Foundation, the charity set up by Andy Palmer in 2020, will be working with schools to identify disadvantaged young people who may be suitable for an automotive apprenticeship. The young people will then be interviewed by Halfords, which will then cover the cost of a two-year apprenticeship, which includes one day a week at college, for all successful candidates.
https://www.autoexpress.co.uk/news/358679/halfords-teams-andy-palmer-get-young-people-car-industry
Rugby apprentice wins prestigious national award
Technoset Ltd apprentice Tyler Gillespie has been named Lloyds Bank SME Apprentice of the Year award after excelling in his role with Rugby-based manufacturer Technoset Ltd, which specialises in precision engineering.
https://www.businessinnovationmag.co.uk/manufacturing-apprentice-from-technoset-reaches-national-awards-final/
Leading FE Group WCG hosts major skills event
WCG (formerly Warwickshire College Group) is launching the new ‘Attracting and Keeping Brilliant People’ networking event at Warwick Trident College. It is expecting to attract up to 100 business leaders and HR professionals from across Coventry, Warwickshire and the wider Midlands on Tuesday, September 27.
https://www.businessinnovationmag.co.uk/how-to-attract-and-keep-brilliant-people-warwickshire-college-group-will-tell-employers-how/
Skills Thrive Academy welcome boost to hospitality sector
Two boutique hotels in Warwickshire have launched a new leadership academy to help combat a national skills shortage and provide staff with pathways to progression. The Eden Hotel Collection’s new Thrive academy opens to its first cohort in September, where nine members of staff will embark on a series of training and projects over the next 12 months.
https://www.businessinnovationmag.co.uk/warwickshire-hotels-launch-leadership-academy-to-help-tackle-national-skills-shortage/
Universities and Catapults unite to accelerate UK innovation
University of Warwick is part of a new £6.75 million national network to accelerate UK innovation. The Innovation Launchpad Network+ brings together leading universities, the Catapult Network and regional innovation ecosystems to enrich the exchange of ideas and knowledge across these organisations.
https://www.businessinnovationmag.co.uk/university-of-bristol-and-university-of-warwick-join-6-75-million-national-network-to-accelerate-uk-innovation/
University of Warwick makes UK top 10
University of Warwick (8) and Loughborough University (10) were the only Midlands universities to make the top 20, with Aston University placed at number 22. The rankings are one of the leading tables for UK universities.
https://www.theguardian.com/education/ng-interactive/2022/sep/24/the-guardian-university-guide-2023-the-rankings
Rugby Services tops EV charging in UK
England’s most popular public electric vehicle (EV) charging locations have been revealed by Zap-Map, with the Gridserve Electric Super Hubs at Moto Rugby and Moto Exeter topping the list.
https://www.businessinnovationmag.co.uk/gridserve-at-moto-rugby-is-uks-most-popular-ev-charging-location/