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Updates from December, 2018

  • Amberside 1:22 pm on December 18, 2018  

    Equitix and Iona Capital co-fund Bridgwater Energy from Waste project 

    (28 November 2018) Equitix, a leading UK infrastructure investor, and Iona Capital, the specialist environmental investment and fund management firm, announce the acquisition of a £72 million Energy from Waste (“EfW”) facility in Bridgwater, Somerset.

    The 7.75MW Resource Recovery facility will employ up to 25 full-time operational staff and process approximately 100,000 tonnes of commercial and municipal refuse derived fuel (“RDF”) per annum, which would otherwise have been destined for landfill. Construction will commence in Q1 2019 and the facility will begin commercial operation in 2021.

    The project will be delivered under a turnkey design and build contract with STC Power SRL (“STC Power”), a specialist in the supply of small-scale thermal energy plants having delivered 20 facilities since 2001. Pinnacle Power Limited (“Pinnacle Power”) has been appointed as the Operations and Maintenance Contractor. Pinnacle Power is part of the Pinnacle Group and is a provider of construction and operations services for district heat and power projects in the UK. Waste will be supplied by Geminor UK Limited (“Geminor”), a leading exporter and supply of Refuse Derived Fuel (“RDF”), under a long-term waste supply contract.

    Geoff Jackson, Chief Executive Officer of Equitix, said: “This new project marks the latest addition to our growing waste portfolio. This is a sector that we see huge opportunities in and are very excited to be working with our partners, Iona Capital, in developing this top-quality, high-impact facility.”

    Nick Ross, director and co-founder of Iona Capital said: “We are very pleased to partner Equitix in the financing of the Bridgwater project which is the first of a number of planned investments in the EfW sector.”

    Amberside Advisors acted as financial modelling advisors and WSP as technical advisors to the consortium.

  • Amberside 12:36 pm on December 11, 2018  

    Sterling Suffolk Ltd names Jane Evans its new Managing Director 

    Jane Evans has today (11 Dec 2018) been appointed Managing Director of Sterling Suffolk Limited (“SSL”). SSL operates the Blakenham Nursery, at Bramford, Suffolk. Jane joined the SSL Board in April 2015 and has been extensively involved in the development of the business since its inception. She has a degree in Biochemistry from Manchester University and qualified as a Chartered Accountant at Peat Marwick, now KPMG. Jane worked at KPMG for twenty one years, moving early in her career from audit to corporate finance where, as a Director, she led project finance teams advising on major infrastructure projects. She subsequently moved to Navigant Consulting and then to Wates, the construction company. In 2013 she left the corporate world and, with a colleague, manages a business and a charity, running team building and leadership training workshops.

    Jane lives in London and Suffolk. She has a partner, Chris and a son, Max who is 16.

    David Scrivens of Amberside Capital, and a fellow Board Director at SSL, said: “Jane has made a valuable contribution to the Board, and, with her appointment as Managing Director, we are building the management team to take the business forward as we move into commercial operations at the Blakenham Nursery site, and look forward to the further development phases.”

    Sterling Suffolk Limited has built and will operate a hydroponics glasshouse the size of 11 football pitches at Bramford in Suffolk. The first crop of tomatoes will be planted this month with the inaugural harvest due in February 2019.

    Hydroponics is a subset of hydroculture, which is a method of growing plants without soil using mineral nutrient solutions as a water solvent in a neutral growing media. When fully developed, the establishment of this major project will help bring more than 150 new, local jobs to the area and provide locally-grown tomatoes for the UK market all year round.

    The Hemel Hempstead based Amberside Group in Hertfordshire, comprising Amberside Capital, Amberside Advisors and Amberside Energy, has raised over £15m of capital to date from private individuals for the project and has provided advice on structuring and energy. Although the chance to own an equity stake in the SSL business has passed, there is still an opportunity to help finance a further 2.7 Hectare extension to the existing glasshouse by investing, effectively as a bank, into the senior loan to the business at a fixed rate of 8.5% through Amberside ALP which can be held in an ISA. This opportunity is available to UK investors – including members of the local community – who may wish to be part of this exciting project. Although, as with all lending to companies, investors will be exposed to the risk of losing their capital if the company fails.

  • Amberside 9:20 am on December 3, 2018  

    Amberside Group makes key appointments during ongoing growth 

    Due to expansion from recent business wins, Amberside has recently made four key appointments to grow the team with more in the pipeline. Laura Bell, Group HR Manager for Amberside, commented on the appointments, “We extend a warm welcome to our new colleagues in these diverse roles who will benefit from working in this market-leading environment with many training and development opportunities. With these additional personnel the company has a tremendous opportunity to grow the business further, bringing our strong values and professional service delivery to match the demands and high expectations of our clients.”

    Edward Bianco has joined Amberside Accounting Services as Finance Director. Edward said, “I am delighted to join this innovative and dedicated team for what will be exciting times ahead. Global events remind us daily of the importance of Amberside’s key role in ensuring investments, for example in environmentally sustainable power generation, are built upon the solid foundation of proven business practice, reliable financial data and compelling returns.”

    Lucy McRae, has joined Amberside Advisors as Communications Manager. “I’m excited to bring my extensive and diverse marketing experience to this newly created role for this deservedly well-respected company. Tasked with raising the profile of Amberside among stakeholders, I’m looking forward to spreading all their good news,” she said.

    Amberside has also grown its staff by appointing two new Consultants. Eduardo Martinez commented, “It’s exciting to be on board with one of the UK’s leading financial modelling organisations. As a native Spanish speaker with fluent Italian, I will be using this to our advantage within the European markets.”

    Glenn Hicklin added, “Joining Amberside’s graduate training scheme will stand me in good stead from the beginning of my career in project finance. Combining an active role in financial modelling, while training to become a CIMA qualified accountant is a great opportunity.”

    (Pictured from L to R: Laura Bell, Edward Bianco, Lucy McRae, Eduardo Martinez and Glenn Hicklin)

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Amberside Advisors Ltd
Paul Austin FCA, Philip Rhoden FCA, Neil Rutledge FCA, David Scrivens FCA, Richard Turner
Registered Office:
Clubfinance House, 64-66 Queensway, Hemel Hempstead, Hertfordshire, HP2 5HA
Registered in England. Registered Number: 06078852