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  • 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)

     
  • Amberside 10:30 am on November 14, 2018  

    ICAEW: FINANCIAL MODELLING CODE – A GUIDE FOR BEST PRACTICE 

    Financial modelling drives decision-making throughout the business world, but still there is no universally accepted set of agreed principles for best practice. In its informational guide, Financial Modelling Code, ICAEW’s (The Institute of Chartered Accountants in England and Wales) Excel Community provides essential practical guidance on universal tenets of best practice in the field to minimise spreadsheet risk. The guide was released at a launch event last night at Chartered Accountants’ Hall in London.

    The report captures the main guidelines for coherent and correct financial modelling as well as spreadsheet creation to build strong models and reduce errors. In preparing the Code, ICAEW compared and analysed seven organisations’ modelling standards and took input from over a dozen modelling and professional services organisations.

    David Lyford-Smith, ICAEW Technical Manager, said: “There are various courses, standards and guides available that explain how to build models, each with their own ideas about what the appearance, layout and functionality of a model should be. While there is much consensus among these methodologies, for both procurers and practitioners there is no universally accepted set of agreed principles for how to carry out financial modelling. Most existing methodologies were developed with particular sectors or practices in mind; hence, they are frequently detail-oriented and not accepted very widely.”

    This inconsistency is concerning as David explains: “Improper practice such as incoherent methods, or lack of review and oversight, negatively impacts the world economy. This guide was created to support best practice in creating financial models that are robust, understandable and less likely to contain errors. Each section of the Code addresses a particular element of constructing a model presenting specific recommendations including several options, representing generally suitable and widely adopted approaches.”

    ICAEW’s Corporate Finance Faculty has also produced a more detailed publication, entitled Best Practice Guideline: Financial Modelling, which conforms to this Code and explains how to carry out financial modelling in a corporate finance transaction context.

    Neil Rutledge, Director, Amberside Advisors Ltd, said: “As one of the UK’s leading financial modelling organisations, Amberside Advisors are proud to be involved with the development and publication of the ICAEW Financial Modelling Code.

    “This achievement follows on from the recognition by ICAEW of Amberside’s own financial modelling standard earlier this year.”

    The full report can be found here: icaew.com/financialmodelling

     
  • Amberside 9:22 am on November 13, 2018  

    NLWA (NORTH LONDON WASTE AUTHORITY) APPOINTS FINANCIAL ADVISORS 

    North London Waste Authority (NLWA) has awarded a contract for financial advisory services in connection with the implementation of the North London Heat and Power Project (NLHPP).

    The contract was awarded to lead financial advisor Amberside Advisors Ltd.

    The NLHPP is NLWA’s project to construct an Energy Recovery Facility and associated plant to replace the existing energy from waste facility at the Edmonton EcoPark, which is expected to reach the end of its operational life around 2025.

    Neil Rutledge, Director, Amberside Advisors Ltd, commented:
    “We are delighted to be appointed by the North London Waste Authority to advise on the optimal funding strategy and provide supporting financial advice for the redevelopment of this major infrastructure asset, which is of national significance.”

    Amberside Advisors Ltd is an independent consultancy providing financial advice to large scale energy, infrastructure, accommodation and public services projects. Its clients include the public sector, large institutional investors and project sponsors. Recent mandates include advising Ofgem on policy changes for competitively tendering developer-built offshore transmission assets and introducing competition into new-build onshore transmission (Hinkley – Seabank connection).

    Amberside Advisors is part of the Amberside group, made up of like-minded, complementary, businesses which include:

    Amberside Advisors – corporate finance practice to the infrastructure and energy sectors – http://www.amberside.uk
    Amberside Energy – technical advisory practice to the energy sector – http://www.ambersideenergy.com
    Amberside Capital – FCA-regulated fund manager with an infrastructure focus – http://www.amberside.com
    Amberside Accounting – ICAEW-regulated accountancy practice – http://www.amberside.uk

     
  • Amberside 11:14 am on November 6, 2018  

    AMBERSIDE SUPPORTS OXFORD CAPITAL IN THE COMPLETION OF THE SECOND PHASE OF THEIR UK SOLAR PV REFINANCING PROGRAMME 

    In December 2017 specialist investment manager Oxford Capital completed the first of three planned phases of the refinancing of their 92MWp UK Solar PV portfolio. Today the firm has announced the completion of the second phase of the programme. This second phase saw a further £19m provided by Oxford Capital and funds managed by BlackRock, with funding provided at the holding company level.

    IDCM Limited acted as Arranger on the transaction with legal advice provided to the parties by Osborne Clarke and Burges Salmon.

    Oliver Hughes, Partner at Oxford Capital, said “We are delighted to have completed the second phase of this refinancing programme. This high quality portfolio of solar PV assets continues to perform well, and our in-house portfolio management team continue to ensure maximum value is realised for our investors. We are pleased to have worked with Blackrock on this phase of the portfolio refinancing. Thanks also to IDCM for their professional approach.”

    Jean-Christophe Oberto, Executive Director at IDCM Limited said, “Following our successful cooperation last year, we are very pleased to have worked with Oxford Capital again on another innovative transaction. The renewable sector is experiencing a shift from subsidy-based revenues to merchant-based revenues and, we believe that, against this context, HoldCo financing will become more popular in Europe, in particular for greenfield projects. We are committed to assisting our clients through this transition and helping them achieve their financing goals.”

    Jonathan Stevens, Head of European Infrastructure Debt at BlackRock, said: “We are delighted to have made this debt investment on behalf of our institutional clients. This financing provided an opportunity to extend our investment in the UK renewable energy sector with an experienced partner and at an attractive return.”

     
  • Amberside 2:18 pm on October 16, 2018  

    BEIS LAUNCHES HEAT NETWORKS INVESTMENT PROJECT MAIN SCHEME 

    Today Department for Business, Energy and Industrial Strategy (BEIS) has launched the Heat Networks Investment Project main scheme.

    Find out more about the scheme here

     
  • Amberside 12:03 pm on October 16, 2018  

    AMBERSIDE TO LEAD ON INVESTOR RELATIONS FOR HEAT NETWORKS DELIVERY PARTNER 

    For more information, click here

     
  • Amberside 12:00 pm on October 16, 2018  

    AMBERSIDE ASSISTS NEW PRIMARY & COMMUNITY CARE CENTRE IN LISBURN TO REACH CLOSE 

    Amberside Advisors Ltd acts as financial advisor to a consortium of Kajima, O’Hare McGovern and GPIC to successfully close a contract with the South Eastern Health & Social Care Trust (HSC) for a new £40 million Primary and Community Care Centre for Lisburn, Northern Ireland.

    Amberside sourced long term project finance debt from Nord LB alongside finance from the consortium to be repaid over the 25-year operational life of the project.

    Neil Rutledge, Director, Amberside Advisors Ltd, commented:- “Amberside Advisors Ltd is delighted to have supported the consortium to win and close this pathfinder project.”

    The project is expected to start construction in April 2019 and be completed by 2021 representing a major economic boost for the Lisburn region. The new 12,792sqm building will provide some 250 jobs and will bring eight existing GP Practices together with health services from various locations. It will transform and integrate health and care services for the Lisburn community so people will be able to access diverse specialist services, care and support in the community setting.

     
  • Amberside 2:00 pm on September 19, 2018  

    AMBERSIDE ADVISES SEMPERIAN TO ACQUIRE A 50% STAKE IN A HOSPITAL PFI FROM BALFOUR BEATTY FOR £43M 

    19 September 2018

    Amberside provided financial advice to Semperian PPP Investment Partners who have acquired a 50% stake in a hospital PFI in Kirkcaldy Fife, from Balfour Beatty for £43m. InfraRed Infrastructure Yield Fund owns the other 50% in the Fife project. Balfour completed the £170m new hospital wing linked to the existing Victoria Hospital in 2011 through a public private partnership with a 30-year concession. Semperian will pay for the hospital in cash, which Balfour Beatty will use this year to pay down borrowings.

    Semperian were advised by Amberside (financial), Stephenson Harwood (legal), Imagile Professional Services (asset management) and DSSR (engineering).

     
  • Amberside 6:03 pm on July 9, 2018  

    AMBERSIDE SUPPORT JLEN IN c£36m ACQUISITION OF TWO ANAEROBIC DIGESTION (AD) ASSETS 

    09 July 2018

    JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
    (“JLEN” or the “Company”)Acquisition of two anaerobic digestion plants

    JLEN, the listed environmental infrastructure fund, is pleased to announce the acquisition of two anaerobic digestion (AD) assets, Egmere Energy Limited and Grange Farm Energy Limited, for a total consideration of c.£36 million.

    The Egmere Energy AD plant is located in Egmere, North Norfolk and was commissioned in November 2014. The plant has a thermal capacity of c.5MW and predominantly produces biomethane to be injected to the national gas grid. In addition, the plant also has a 0.5MW CHP engine and is accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes. The Grange Farm Energy AD plant is located in Spridlington, Lincolnshire and was commissioned in December 2014. The plant has a thermal capacity of c.5MW and predominantly produces biomethane to be injected to the national gas grid. In addition, the plant also has a 0.5MW CHP engine and is accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes. The AD plants have been acquired from venture capital funds managed by Downing LLP, EIS funds managed by Amersham Investment Management Ltd and minority shareholders. Future Biogas Limited will continue to provide management, operations and maintenance services to the AD plants after the acquisition.

    The acquisitions build on JLEN’s growing portfolio of AD projects and bring the total capacity of the renewable energy assets in the JLEN investment portfolio to 269.2MW.

    The acquisition was funded by a draw-down under the Company’s revolving credit facility.

    Richard Morse, the JLEN Chairman, said “We are pleased with JLEN’s continued investment in the anaerobic digestion sector and look forward to working with our partner, Future Biogas, to continue the strong performance of these assets.”

    For further details contact:

    John Laing Capital Management Limited                        020 7901 3559

    Chris Tanner

    Chris Holmes

     

    Winterflood Investment Trusts                                          020 3100 0000

    Joe Winkleyr

    Neil Langford

     

    Redleaf Polhill                                                                          020 7382 4769

    Charlie Geller

    Harriet Lynch

     

    About JLEN

    JLEN’s investment policy is to invest in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks.

    Environmental Infrastructure is defined by the Company as infrastructure projects that utilise natural or waste resources or support more environmentally-friendly approaches to economic activity. This could involve the generation of renewable energy (including solar, wind, hydropower and biomass technologies), the supply and treatment of water, the treatment and processing of waste, and projects that promote energy efficiency.

    Further details of the Company can be found on its website jlen.com

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