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  • Amberside 2:34 pm on February 5, 2019  

    AMBERSIDE LEADS ON DELIVERY PARTNER ENGAGEMENT WITH INVESTORS FOR HEAT NETWORKS INVESTMENT PROJECT – APPLICATIONS NOW OPEN 

    Amberside Advisors is leading on delivery partner engagement with investors for Heat Networks Investment Project (HNIP) to lever in £1bn of future investment into the heat networks sector. For full details: https://bit.ly/2WFg2ls

    HNIP opens for applications from today – 5 February 2019. The HNIP Application Guidance and key information about the scheme can be found here: tp-heatnetworks.org

     
  • Amberside 5:46 pm on January 10, 2019  

    LIVERPOOL BASED SOCIAL BUSINESS KICKS OFF THE NEW YEAR WITH £800,000 SECURED INVESTMENT 

    CAPACITY: THE PUBLIC SERVICES LAB WAS CO-FOUNDED BY AMBERSIDE ADVISORS

     

    There’s cause for celebration as Capacity: The Public Services Lab enters its third year with £800,000 of investment secured from social investors Big Society Capital. The additional investment signifies clear intent from Big Society Capital who initially backed the organisation following its success in the Business Impact Challenge in 2015.

    Christine Chang, Deputy Chief Investment Officer, Big Society Capital, commented:

    In a short space of time, we have seen Capacity: The Public Services Lab go from strength to strength. Since our first investment in early 2017 Capacity has begun to make progress in altering perceptions of the way public services should be delivered. Capacity is building the credibility of the voluntary, community and social enterprise sector as providers of public services with social investment. We look forward to seeing the outcomes from the next stage of their development.”

    Founded by partners Catch 22, Interserve PLC, Big Society Capital and Amberside Advisors, Capacity: The Public Services Lab exists to help community-based organisations to deliver public services which provide freedom to frontline workers, bringing together the best of the private, public and charity sector to produce better outcomes for communities.

    The organisation will use the funding to expand incubator and accelerator services for community organisations. It will give them the flexibility to recruit staffing resource ahead of growth and to invest in joint venture partnerships with social enterprises and charities.

    Capacity Chief Executive, Chris Catterall said, “I am delighted we have successfully navigated our initial start-up period and that Big Society Capital has agreed to support us during the next stage of our development. Since its inception, Capacity has secured £38m of contracted income and investment for charities and social enterprises and this additional investment from Big Society Capital will allow us to continue to do that at scale.”

    He continues, “Capacity will continue to help community organisations to secure funding and help reform public services, through our recently awarded contract with Wirral Metropolitan Borough Council to re-design Childrens’ Services Early Help and our work with GPs re-imagining and re-organising primary care on Merseyside.”

    Notes:

    About Amberside Advisors

    Amberside Advisors Ltd are one of the founding members of Capacity. AAL is a corporate finance practice with a track record in advising projects that involve public, private and third sector bodies. Amberside are represented on the Board of Capacity by Neil Rutledge FCA.

    http://www.amberside.uk

     

    About Big Society Capital

    Big Society Capital improves the lives of people in the UK by connecting social investment to charities and social enterprises. We know that investment can help charities and social enterprises achieve more. We believe the greatest chance to improve lives comes when investors and enterprises are both motivated by social mission.

    We engage with investors, fund managers, charities and social enterprises to make it easier to use social investment. With our co-investors, we have made over £1.3 billion of new capital available to organisations with a social mission, through investments into fund managers and social banks. We have a special focus on: providing homes for people in need; strengthening communities; and early action to prevent problems.

    http://www.bigsocietycapital.com

     

    About Catch22

    Catch22 is a social business, a not for profit business with a social mission. For over 200 years we have designed and delivered services that build resilience and aspiration in people and communities.

    Our 1600 colleagues work at every stage of the social welfare cycle, supporting 44,000 individuals from cradle to career. Today we deliver children’s social care, alternative education, apprenticeships and employability programmes, justice and rehabilitation services (in prisons and in the community), gangs intervention work, emotional wellbeing and substance misuse programmes.

    http://www.catch-22.org.uk

     

    About Interserve

    Interserve is one of the world’s foremost support services and construction companies. Our vision is to redefine the future for people and places. Everything we do is shaped by our core values. We are a successful, growing, international business: a leader in innovative and sustainable outcomes for our clients and a great place to work for our people. We offer advice, design, construction, equipment, facilities management and frontline public services. We are headquartered in the UK and listed in the FTSE. We have gross revenues of £3.7 billion and a workforce of circa 80,000 people worldwide.

    http://www.interserve.com

     
  • 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)

     
  • 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

     
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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