Chesterfield-based Mitchells Chartered Accountants and Business Advisers has secured a £1.94 million finance package enabling its client Mobile Visual Information Systems (MVIS), to become the UK leader in roadside solar powered mobile signs only three years after it was established.

The funding, which was provided by Lombard Technology Services (LTS), a specialist in the provision of finance and equipment leasing solutions for IT, computers, software and telecommunication assets, was negotiated on behalf of MVIS by Mitchells Chartered Accountants and Business Advisers.

The funding package complemented the asset-backed funding provided by Reward Capital and enabled MVIS to secure a multi-million pound contract to deliver signage for Highways England’s M1 smart motorway project, which is currently being piloted on the M1 corridor at three sites between junctions 42 and 15.

As part of the contract, Derbyshire-based MVIS invested in 136 new portable, solar powered, five colour matrix signs and partnered with Bartco UK, manufacturer of the signs, to deliver the largest deployment of portable variable message signs on the smart motorway project.

This signage is providing thousands of drivers with information about the road works, as well as helping to keep them safe. It is popular with the contractors working on the project and has further enhanced MVIS’ reputation as a UK market leader in the supply of mobile signs.

The contract and finance package has put the company on target for a 500% increase in turnover over the next three years following double/treble digit growth in turnover and profits over the previous two financial periods.

Pat Musgrave, managing director of MVIS said: “Securing the finance has not only enabled us to deliver signage for the Smart Motorway project but also cemented our reputation as market leader in mobile signage and pave the way for international expansion for the company.”

Andrew McDaid, Partner at Mitchells who was instrumental in securing the finance package for MVIS, said: “Finance is available for companies that want to grow and this deal is proof of that. Being a specialist funder of Technology to businesses, we identified Lombard Technology Services as the ideal partner to support MVIS’ plans for growth going forward.”

“We have a fantastic relationship with MVIS and we have enjoyed assisting them with their growth and look forward to working with them through their expansion process.”

The company was established in 2012 following a contract win with Transport for London to supply 177 solar powered mobile signs to transmit key messages for the games lanes to road users during the London Olympic Games. Mitchells also secured the finance on behalf of MVIS to enable it to secure the Transport for London contract. Since then MVIS has tripled employees and has 360 signs for hire.

Musgrave added: “Mitchells has always been considered part of our team as they play an integral part in the company’s continued growth plans including putting us in great stead for securing funding for the smart motorway project.”

MVIS works in partnership with other leading ITS providers to create solutions to help the road network to operate efficiently.  MVIS’ innovative, solar powered solutions incorporate monitoring and visual information equipment, all featuring leading-edge technology:  VMS, ANPR and CCTV cameras and radar.

Bartco UK is the sales and manufacturing division of Bartco Traffic Equipment Pty, supplying its VMS and MVIS’ Solar IP multi-use trailer platforms.  Its products are available for sale directly from Bartco UK and for rental via MVIS.

Chesterfield-based solar power specialist, Custom Solar, is urging businesses and home owners to make the most of subsidies for photovoltaic (PV) systems (solar panels) before changes come in at the end of the year.

Government proposals to either end or significantly reduce subsidies for power generated by renewable technologies means the financial benefits of solar power will be not be fully realised after 2015.

A consultation of the Feed-in-Tariff (FIT) scheme was announced on Friday 28 August by the Department of Energy & Climate Change (DECC). The consultation proposes to dramatically reduce FITs by up to 87% or, if cost control measures are not implemented to make the scheme sustainable, then the Government would end generation tariffs for new applicants. Tariffs would end as soon as legislatively possible, which would likely be January 2016.

Matthew Brailsford, Managing Director of Custom Solar said: “Solar is still a viable and excellent option for commercial power generation. The next move is about adjusting and preparing for the next phase in solar energy. Home owners in particular should act swiftly to make the most of the full cost saving benefits of solar power.”

The amount currently paid for solar electricity between 1KW to 250KW is between 9.21p – 12.92p. Amongst the reductions proposed, the tariff for less than 10KW (a typical domestic installation) will reduce immediately to a flat rate of 1.63p and then reduce quarterly to zero by 2019.

Matthew added: “Experts have forecast that fossil fuels will run out by 2030 and large scale reliance on power generated from gas and coal will cause this country significant problems in the near future. By investing in solar power now and beyond 2015 means you are safeguarding future power generation for your home or business.”

Scott Knowles has been appointed as the new Chief Executive of East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire).

He had been the Chamber’s Acting Chief Executive since his predecessor, George Cowcher, stepped down in July.

Scott joined the Chamber in 1999. Over the past 16 years, he has managed multiple initiatives, including capital infrastructure projects and programmes to support the creation of new businesses and to boost access to finance.

He was responsible for developing the Chamber’s enterprise and business support products and services, its back office functions – including ICT and finance, its property portfolio and its managed workspace offer. He represents the interests of the business community on a number of public and private sector groups and bodies across Derbyshire, Nottinghamshire and Leicestershire.

He said: “I am excited by this opportunity. The organisation has gone through a number of significant changes since the merger between the Derbyshire and Nottinghamshire and Leicestershire Chambers in 2013, and there are exciting times ahead for the Chamber and the region.

“We can look forward to growing our membership base and enhancing the products and services we offer to businesses across the three counties.”

Chamber President Liz Fothergill CBE, on behalf of the Chamber’s Board of Directors, who expressed their total confidence in the proposal that Mr Knowles be appointed as permanent Chief Executive, added: “I’m delighted to appoint Scott as the Chamber’s new Chief Executive. The Chamber has made a huge amount of progress since the merger, with the support of his senior leadership team, will ensure that the Chamber can continue to add real value to the business community here in the East Midlands.”

Around 150 jobs are set to be created at Chesterfield-based inspirepac now the packaging and printing specialist has opened a new multi-million pound premises at Markham Vale.

The new 100,250 sq ft unit is the firm’s latest addition, with sites also based at Sheepbridge, Dronfield, Wetherby, Yorkshire and Cheshire.

inspirepac Chief Executive Chris Marples said:

“We’re really pleased with our new premises. Despite tight timescales and the scale of this project, Henry Boot Developments have helped us deliver an environmentally friendly and energy efficient building that suits the needs of our business perfectly.

“The process was seamless, and the result − a first class job. We’d recommend Henry Boot Developments to anyone looking to bring business into the area.”

The company, which has multiple sites across the UK, manufactures a full range of corrugated cardboard from basic transit and protective cases to specialist retail-ready packaging for well-known brands including PepsiCo, Bacardi, Thorntons, Kimberley Clark, 3M and Unilever.

Derbyshire County Council’s Leader and Cabinet Member for Strategic Policy, Economic Development and Budget, Councillor Anne Western said:

“We’re pleased to welcome inspirepac to Markham Vale and the extra jobs they will bring to the area.

“We’ve already generated around 730 new full-time jobs on-site and inspirepac will provide a further boost to employment locally.”

She added:

“It’s a busy time for Markham Vale with more businesses being attracted to the site and the excellent transport links it has to offer.

“Work to develop the Markham Vale North section of the site is progressing well and our Environment Centre expansion is complete offering more opportunities for smaller businesses to move to Markham.”

inspirepac’s new premises was designed and built by private sector developer, Henry Boot Developments after securing a 20 year lease at the site.

Ben Ward from Henry Boot Developments commented:

“inspirepac is the latest business to join our Markham Vale site and we’re delighted to welcome them on board. This deal was a particularly positive one for both parties as it involved building a very specific and purpose built site to support an expanding successful business. The past 12 months have been remarkable, with seven major deals taking place, and we are sure interest will continue to follow as a result of the recent activity.”

inspirepac joins Gould Alloys, AW Repair Group, MSE Hiller, Squadron Medical, Industrial Ancillaries, Andrew Page, Holdsworth Foods and Ready Egg Products on the site, which is one of the UK’s biggest Enterprise Zone developments.

Banner Jones Solicitors is celebrating this week after receiving ‘Leading Firm’ status in the UK Legal 500 for the third year running.

Ann-Marie Lowe, Marketing Manager comments: “Being a Legal 500 firm is a great accolade for the business, and we are one of the few law firms in Chesterfield to have received a ranking.

“The Leading Firm status is based on our outstanding Family Law and Personal Injury teams who both received individual rankings in the 2015 edition.

“The competition is always fierce across the region which makes it all the more meaningful for us to have been included.”

Three members of the team have also received the prestigious ‘Recommended Lawyer’ status within the guide, including Helena Downing who has been included for a second time thanks to her deserved reputation in childcare work, and executive directors, Simon Wright and Robert Banner who both specialise in personal injury.

Simon comments, “I am delighted to have received the ‘Recommended Lawyer’ status again and I am very proud of the business for achieving this ranking as it highlights our specialism and expertise in these areas. It is wonderful thing to have been given this recommendation from such a highly regarded publication”.

Images show Helena Downing and Simon Wright from the Banner Jones team.