It served over 200 stores and thousands of online customers with 44,000 different gadgets and electronic products, but now the former Maplin warehouse in Rotherham sits eerily empty after the plug was pulled on the retailer.
After a slowdown in sales and declining profits, the firm plunged into administration in February, putting around 2,500 jobs at risk.
Based at Manvers, Maplin sold a range of products to tech-savvy hobbyists as well as general consumers. In 2008 it moved to a 220,000 sq ft state of the art distribution centre and head office on Brookfield's Park.
The building is owned by Ascendas Reit, Singapore's first and largest listed business space and industrial real estate investment trust. It was previously acquired in 2014 in a £15.1m deal.
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CBRE and Knight Frank have now been instructed to find a new tenant for the property. The brochure show rows and rows of empty racks and shelves.
Mike Baugh, senior director for the industrial team at CBRE Leeds, said: "We are delighted to be working with Ascendas Reit on this significant warehouse facility.
"Brookfields 200 is ideal for occupiers looking to take advantage of a fully fitted warehouse close to a plentiful and economic labour pool, in a location which allows excellent communications across Yorkshire and the UK."
Rebecca Schofield, partner and head of Knight Frank's Yorkshire industrial team, added: "Brookfields Park is ideally located in the popular Sheffield city region which is experiencing an increase in attracting manufacturing and logistics operations and thanks to its location, with superb transport infrastructure to the A1 and M1, means that it is ideally positioned for business, locally, nationally and internationally. The buoyant labour market offers a wide range of skills for potential employees."
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise.
It was sold for £85m to Rutland Partners in 2014. Montagu Private Equity bought the business for a reported £244m in 2004.
In the early days in Essex, founders, Roger Allen and Doug Simmons, remained in their full-time jobs for two years, and the company didn't make a profit. For the year ending 31 March 2017, turnover at the electronics chain increased to £235.8m but pre tax losses widened to £3.9m.
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In 2016 a reorganisation saw a "front office" of the commercial, marketing, ecommerce and digital function based together in London, with a "back office" of the HR, finance, IT, warehouse and distribution and contact centre functions based in Rotherham.
No buyers for the firm could be found and all branches ceased trading in June. The firm's IP was sold for £800,000, reportedly to Dragon's Den star, Peter Jones, according to The Register.
Having been given an extra life in 2012, video game retailer, GAME, has closed its store in Rotherham town centre.
The national High Street chain holds the highest market share in the retailing of console gaming hardware, software, accessories and digital products in the UK.
GAME had operated 641 stores before entering administration in 2012 following rapid expansion and difficult trading conditions. It was acquired by OpCapita (Elliott Management Corp) and went on to close the Rotherham store at Parkgate that year whilst later rebranding the GameStation store at All Saints' Square in the town centre.
The remaining Rotherham store was being emptied of games, consoles, accessories and gadgets this week.
Rejoining the stock exchange in 2014, the retailer has continued to struggle. It posted a £10.4m loss for the 12 month period to July 2017. Sales have been boosted since following the launch of the Nintendo Switch.
Holding company, Game Digital plc, issued a profit warning last year and has put in place new strategies based on optimising its store network, selling online and diversifying into new areas such as e-sports.
Mike Ashley snapped up a stake of more than 25% in the retailer and work is taking place on creating concessions in Sports Direct sites, as well as with electronic retailer, Maplin, which has since entered administration.
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Other national retailers that have left Rotherham town centre in the last 12 months include Primark, New Look, Thorntons and Poundstretcher.
23% of floor space in the town centre area was classed as vacant at the end of 2017 and Rothbiz reported last week on how Rotherham Council is considering incentives in an effort to attract businesses into the town centre.
In optimising the store estate, GAME has been negotiating leases on improved terms and 20 stores closed or relocated in 2016/17. The company said last year that 70% of its UK store portfolio was to be reviewed by the end of calendar 2018.
As part of the review, Rotherham's store has closed, like others in towns such as Derby, Grimsby, Harrogate and Bournemouth. The brand now operates around 300 stores and had an annual rent and rates bill of around £31.1m.
Afternoon guys,today has been our last day in Rotherham...sad times I know😭!!thank you for all your support over the years,it’s been a blast and an absolue pleasure to serve you all....peace out 👊🤙👋✌️
The plc explained that its UK action plan, launched in 2016, "remains a key focus for the business." A spokesperson added: "Considerable attention continues to be given to the review of our store footprint and reducing property costs wherever possible. Almost 40 lease renewals have been renegotiated on improved terms during the last 12 months and where proposed new lease terms have not been acceptable, the group has relocated to lower-cost premises.
"We are also exploring opportunities to open new concession locations where lower cost of occupation and more flexible terms can be agreed."
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Rothbiz reported in 2016 that plans had been submitted for the vacant bank at 16 - 20 College Street, adjacent to the GAME store, that would enable a restaurant and bar to operate over 5,000 sq ft of floorspace on the basement, ground and first floor.
The administrators of Rotherham-based Maplin has announced a number of redundancies as they have so far been unable to find a buyer for the electronics retailer.
Last week Zelf Hussain, Toby Underwood and Ian Green of PwC were appointed as joint administrators of the business that sells a range of products to tech-savvy hobbyists as well as general consumers and operates from 217 stores, employing 2,335 members of staff.
Last year, the firm transferred operations and now has a "front office" of the commercial, marketing, ecommerce and digital function based together in London, with a "back office" of the HR, finance, IT, warehouse and distribution and contact centre functions based in Rotherham.
Maplin has experienced a decline in performance as a result of the softening of consumer demand in what has been a challenging retail environment and higher-priced (US denominated) products. A solvent sale of the business had been pursued by management in recent weeks but unfortunately could not be concluded. Given the cash position of the company, the directors resolved to put Maplin into administration.
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The joint administrators have continued to trade the business as normal whilst discussions take place with interested parties in an attempt to find a buyer.
In an update this week, PwC announced that it has not been possible to secure a buyer for the business. While the administrators remain open to interest from potential buyers, it has been necessary to make a total of 63 redundancies at Maplin's head offices in London and Rotherham (55 in London and eight in Rotherham).
Toby Underwood, joint administrator and PwC partner, said: "It is with real regret that we have made this decision. We are grateful for the support of the employees during this difficult period and we will make every effort to help the affected staff, working with the Maplin HR team over the coming days.
"The company is continuing to trade but due to a lack of interest we may be required to initiate a controlled closure programme.
"We still believe there is strong value in the company and we remain focused on doing all we can to preserve the business while we continue trying to achieve a sale."
Rotherham-based electronics retailer, Maplin, has collapsed into administration, putting around 2,500 jobs at risk.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and operates from 217 stores.
Maplin was sold for £85m to current owners Rutland Partners in 2014 and recent media reports warned that the owners wanted to secure new investors to save the business.
Graham Harris, who became chief executive only last month, said: "I can confirm this morning that it has not been possible to secure a solvent sale of the business and as a result we now have no alternative but to enter into an administration process. During this process Maplin will continue to trade and remains open for business.
"The business has worked hard over recent months to mitigate a combination of impacts from sterling devaluation post Brexit, a weak consumer environment and the withdrawal of credit insurance. This necessitated an intensive search for new capital that in current market conditions has proved impossible to raise. These macro factors have been the principal challenge not the Maplin brand or its market differentiation.
"We believe passionately that Maplin has a place on the high street, and that our trust, credibility and expertise meets a customer need that is not supported elsewhere.
"We will now work tirelessly alongside Zelf Hussain, Toby Underwood and Ian Green, from PWC, who have been appointed as the as Joint Administrators of Maplin Electronics Limited, to achieve the best possible outcome for all of our colleagues and stakeholders."
Eversheds Sutherland is advising PwC. The legal firm was involved on the 2014 sale to Rutland. Montagu Private Equity bought the business for a reported £244m in 2004.
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For the year ending 31 March 2017, turnover at the electronics chain increased to £235.8m from £234.6m in the previous year. Earnings before tax (EBITDA) was recorded at £8.9m, down from £12.7m and pre tax losses widened from £2.1m in 2015/16 to £3.9m for 2016/17.
Recent initiatives include a new website, a focus on support and installation services and a link up with GAME over concession space. Maplin said it saw strong trading over 2017 Black Friday with sales up 5% year-on-year including its biggest ever trading day in digital.
However, Christmas trading was below expectations and credit insurers have been cutting their exposure to the company.
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise.
Founded in Essex, Roger Allen and Doug Simmons remained in their full-time jobs for two years, and the company didn't make a profit. In 2008 the firm moved to a 220,000 sq ft state of the art distribution centre and head office at Manvers in Rotherham.
Last year, the firm transferred operations and now has a "front office" of the commercial, marketing, ecommerce and digital function based together in London, with a "back office" of the HR, finance, IT, warehouse and distribution and contact centre functions based in Rotherham.
Rotherham-based electronics retailer, Maplin, is in talks to save the business, according to reports.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and operates from 217 stores. It employs around 2,500 staff.
Maplin was sold for £85m to current owners Rutland Partners in 2014 and now Sky News is reporting that Rutland wants to secure new investors by the end of this week, with a pre-pack administration being considered as a viable option if a solvent sale cannot be concluded.
Montagu Private Equity bought the business for a reported £244m in 2004.
In a statement, a Maplin spokesperson said: "We are in advanced talks with a number of parties and expect to be in a position to announce a solvent sale of the business within days.
"Once secured this will stabilise the business to the benefit of all stakeholders and provide Maplin with the financial firepower to deliver its 2020 multichannel strategy focused on smart tech."
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For the year ending 31 March 2017, turnover at the electronics chain increased to £235.8m from £234.6m in the previous year. Earnings before tax (EBITDA) was recorded at £8.9m, down from £12.7m and pre tax losses widened from £2.1m in 2015/16 to £3.9m for 2016/17.
Recent initiatives include a new website, a focus on support and installation services and a link up with GAME over concession space. Maplin said it saw strong trading over 2017 Black Friday with sales up 5% year-on-year including its biggest ever trading day in digital.
Previous media reports hinted at financial woes with stories over credit insurers cutting their exposure to the company. The CEO of Maplin, Oliver Meakin, recently moved to Argentine steak restaurant chain, Gaucho.
During the period, the firm transferred operations and now has a "front office" of the commercial, marketing, ecommerce and digital function based together in London, with a "back office" of the HR, finance, IT, warehouse and distribution and contact centre functions based in Rotherham. As a result, Maplin recruited 60 new staff to its support centres.
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise.
Maplin's current turnover is a world away from the early days in Essex when founders, Roger Allen and Doug Simmons, remained in their full-time jobs for two years, and the company didn't make a profit.
In 2008 the firm moved to a 220,000 sq ft state of the art distribution centre and head office at Manvers in Rotherham.
Maplin and Fishing Republic, two national retailers that have their headquarters in Rotherham, are both searching for new chief executive officers (CEOs).
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 217 stores.
The current CEO of Maplin, Oliver Meakin, is set to move to Argentine steak restaurant chain, Gaucho at the end of the month.
Taking the role in September 2015, Meakin moved from commercial director, where he held responsibility for eCommerce, buying, merchandising, supply chain and leading a business transformation programme, which helped contribute to encouraging annual sales growth. His previous experience includes Somerfield supermarkets and Miller & Carter steakhouses.
Maplin was sold for £85m to new owners, Rutland Partners in 2014. For the year ending 31 March 2017, turnover at the electronics chain increased to £235.8m from £234.6m in the previous year. Earnings before tax (EBITDA) was recorded at £8.9m, down from £12.7m and pre tax losses widened from £2.1m in 2015/16 to £3.9m for 2016/17.
During the period, the firm transferred operations and now has a "front office" of the commercial, marketing, ecommerce and digital function based together in London, with a "back office" of the HR, finance, IT, warehouse and distribution and contact centre functions based in Rotherham. As a result, Maplin recruited 60 new staff to its support centres.
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Recent initiatives include a new website, a focus on support and installation services and a link up with GAME over concession space. Maplin said it saw strong trading over 2017 Black Friday with sales up 5% year-on-year including its biggest ever trading day in digital.
Media reports hinted at financial woes with stories over credit insurers cutting their exposure to the company.
Eastwood-based Fishing Republic, one of the largest fishing tackle retailers in the UK, brought in an interim CEO in November to continue to grow its online sales having seen "a significant deterioration in trading."
An update to the stock exchange said: "Chris Griffin, who joined the Company as acting CEO (non-Board) to conduct a comprehensive appraisal of its operations, has completed his review and, as a result, a number of organisational and operational changes are already underway. This includes a significant strengthening of the senior management team, with new talent joining the business in some key roles. In particular, the review has focused on Fishing Republic's e-commerce operations and platform in order to accelerate the Company's development in this critical area.
"Trading in the final months of the financial year ended 31 December 2017 has been in line with management expectations after successful Black Friday and Christmas online sales campaigns. The Board therefore expects revenues for the year to be c. £9m although, as previously stated, the Company will record an overall loss for the period."
Recruitment is underway for a permanent CEO and chairman, James Newman, has assumed the role of executive chairman temporarily and will continue to oversee the operational changes.
Rotherham-based electronics retailer, Maplin has bagged a new asset-based credit facility to invest in the business.
Wells Fargo Capital Finance UK Limited, part of Wells Fargo & Company announced that it acted as agent and lead arranger for an asset-based credit facility and added that it will be used by Maplin to invest in online capabilities, a new retail store concept and support ongoing working capital needs.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 217 stores. In store, like-for-like sales were up by 1.4% for Christmas 2016 compare to the festive period last year.
Lindsay Dunsmuir, chief financial officer at Maplin, said: "The refinancing of the business is an important milestone in our transformation project and completing it provides us with the financial resources to deliver our plans. We're delighted with the deal and impressed with the execution skills and delivery from the Wells Fargo team. Throughout the process, they consistently delivered on what they said they would do.
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Steven Chait, managing director and head of EMEA at Wells Fargo Capital Finance, added: "We are pleased with the opportunity to work with a leading speciality retailer such as Maplin. The asset-based credit facility put in place to support the transaction and fund the growth of the businesses demonstrates the increasing capabilities and financial solutions that Wells Fargo Capital Finance can provide its clients."
Online sales continue to grow at Maplin and the retailer said it would accelerate investment in digital, people and stores in 2017. A roll out is expected of a new store format and refreshed branding across the estate, which was first trialled at Cambridge Beehive in November.
Maplin was sold for £85m to new owners, Rutland Partners in 2014. For the financial year to March 19 2016, turnover was £235m, a slight reduction from the £236m recorded in the previous year. EBITDA (earnings before tax) was £12.7m, down from £16.2m.
Rotherham-based electronics retailer, Maplin is celebrating one of its strongest Christmas trading periods, with like-for-like sales up 4.4% in the six weeks to December 24.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 217 stores. In store, like-for-like sales were up by 1.4% for Christmas 2016 compare to the festive period last year.
Online sales rose by 29.3% when compared to the previous period, which the retailer attributes to significant investment in its digital channels.
The firm, which was sold for £85m to new owners, Rutland Partners in 2014, said growth was achieved over a number of categories, with popular products including Google's Chromecast, Amazon Fire Stick, drones and everyday products like batteries.
Oliver Meakin, chief executive at Maplin, said: "Christmas 2016 has been one of our most successful trading periods and highlights the significant investment we have made across our whole business in the last two years.
"As we accelerate investment in digital, our people and stores into 2017 we expect to see sales continue to grow, as well as develop other initiatives including the roll out of a new store format and refreshed branding across the estate, which was first trialled at Cambridge Beehive in November 2016 (pictured)."
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For the financial year to March 19 2016, turnover at Maplin was £235m, a slight reduction from the £236m recorded in the previous year. EBITDA (earnings before tax) was £12.7m, down from £16.2m.
The period saw Meakin take the CEO job and new management teams put in place, including the appointment of Lindsay Dunsmuir as chief financial officer and Siobhan Fitzpatrick as e-commerce & marketing director. The period, which also saw the departure of chief technology officer, Neil McGowan, was described as a "year of change."
The financial figures were described as credible in the face of falling footfall on the High Street. It was an increase in internet sales by 15.4% that offered encouragement.
Meakin added: "The arrival of the new executive management team afforded us the opportunity to review our future strategy – starting with listening again to our customers, our colleagues and consumers through multiple focus groups. The feedback was compelling.
"Our core strength, and key differentiator, remains the knowledge that our 2,500 colleagues have, and the advice that this enables them to give to our customers, every day.
"In the year ahead we intend to continue to build upon these strengths as we enter an exciting period in the ongoing development of the business."
Rotherham-based retailer, Maplin has again been named in the Sunday Times Grant Thornton Top Track 250 league table that ranks the UK's private mid-market growth companies with the biggest sales.
The league table is the sister publication of Top Track 100, which identifies Britain's 100 private companies with the biggest sales. Top Track 250 ranks the 250 next biggest private companies, which qualify for the league table provided either sales or operating profits have increased by at least 10% in their latest available accounts. Sponsored by Grant Thornton, it is compiled by Fast Track, the Oxford-based networking events and research company, which champions the UK's top-performing private companies and entrepreneurs.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 217 stores. The firm was sold for £85m to new owners, Rutland Partners in 2014.
The company has climbed the rankings from 111th to 84th with sales of £237m for the year ending March 2015 - its strongest sales growth since 2008. Underlying EBITDA (earnings before taxes) in the year was flat at £18.3m.
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Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.
In the 12 annual league table 26 companies headquartered in Yorkshire (compared to 25 last year) join the likes of Arsenal, Barbour, Dr Martens, Nando's, Skyscanner and Wagamama. The Yorkshire companies increased combined sales 14% to £5.8bn and operating profits 36% to £416m, and they employ more than 43,000 people.
Andy Wood, partner at Grant Thornton UK LLP, the title sponsor of the league table, said: "In the wake of the EU referendum it is more important than ever that businesses, and the public and the third sectors work together to help the UK to build on its strengths and ensure that the economy continues to grow. I am heartened to see how these businesses are embracing a collaborative approach to drive prosperity throughout the UK and wider society."
Leading Rotherham companies are amongst the mid-market firms that are driving growth in the region, according to the Yorkshire Report 2016, published by accountancy and business advisory firm BDO LLP.
Illustrating trends in the financial performance of selected companies, the report highlights that mid-market companies in Yorkshire created 21,000 new jobs last year. Turnover was up 4% to £106.2bn compared to 6.9% the previous year but overseas turnover saw a worrying 11% drop compared to a 7.7% increase the previous year. Operating profits were up 8% to £4.8bn.
The report analyses the financial performance of the top 250 companies by turnover in the Yorkshire region. Analysis is split between the 50 largest organisations and the next 200 mid-market businesses.
Mid-market companies are driving the growth in the region with the top 200 companies vastly outperforming the largest 50 firms. Their profitability soared by 200% to £861m, based on a 10% increase to £24.4bn in turnover. The top 50 managed just a 2% increase in turnover.
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Jason Whitworth, M&A partner at BDO in Yorkshire, described the mid-market firms as "Yorkshire's unsung heroes." He added: "Whilst there are many bright spots for businesses, there's no denying we continue to face challenging and uncertain times. However, businesses should not allow this to curb their ambitions and we should all pull together to grasp today's opportunities that could deliver significant growth in the future.
"What emerges from this year's Yorkshire Report is a picture of a bustling ecosystem that is well placed to take advantage of the opportunities presented by devolution. However the challenge remains that both politicians and business leaders need to unite to ensure that those opportunities are not missed, so that the region can continue to play its part in the Northern Powerhouse."
50 of the 250 where from South Yorkshire, which had a collective operating profit of £479m.
Rotherham firms in the Top 250:
- A.E.S. Engineering Limited, the parent company of award-winning Templeborough manufacturer, AESSEAL - AMG Superalloys UK Limited, hi-spec metals manufacturer formerly known as London & Scandinavian Metallurgical Co Limited (LSM) - ASD Limited, leading lighting manufacturer based on Barbot Hall Industrial Estate - Falcon Capital Investments Limited, an investor and operator of care homes with a turnover of £61.8m, registered to an address in Masbrough - Jeld-Wen UK Limited, one of the world's leading manufacturers and distributors of windows, doors and stairs - Maplin Electronics Limited, Manvers-based retailer whose latest yearly sales figure climbed 6.3% to £237m - New York Bakery Company Limited, operates the largest bagel production facility in Europe, based at Swinton - Nicholas Associates, fast-growing industrial and commercial recruiter that is aiming for a £200m turnover within five years - Schaeffler Automotive Aftermarket (UK) Limited, based at Waleswood, the global integrated automotive and industrial supplier includes leading brand, LuK - SVM Global Limited, Parkgate firm that is the largest reseller and distributor of corporate gift cards, E-vouchers and gift vouchers in the B2B and the corporate gifting market - T.H.S. Tools Limited, the Templeborough-based tool wholesaler is the UK's largest buying group for independent industrial distributors
Pictured is a flag-raising ceremony to celebrate AESSEAL securing the Queen's Award for Enterprise: Innovation 2016.
The award-winning TeenTech event is back in the region with local engineers set to show off the opportunities for young people.
TeenTech is an industry-led initiative that helps students understand how STEM subjects (science, technology, engineering and mathematics) are the pathway to tomorrow's careers. It has been pioneered by former Tomorrow's World TV presenter Maggie Philbin, who wanted to dispel myths about science and technology careers being considered difficult, geeky or boring.
B&E Together in partnership with RiDO has collaborated with TeenTech CIC to put on the event at the Doncaster Racecourse today. Since 2012 the award winning event has brought 900 teenagers from secondary schools across South Yorkshire for a fun packed day of science & technology and over 140 scientists, engineers and technologists demonstrated interesting challenges and experiments to the students. Leading science and technology companies participate and explain about career opportunities and the skills required.
TeenTech events run in twelve regions of England and Wales and this is the fourth time that the event will run in South Yorkshire.
Sandra Cooper, non executive director of TeenTech CIC, said: "This was a very successful and enjoyable event in 2015 with some students saying it was the best event they attended whilst in their secondary school, we are delighted that South Yorkshire is hosting the event again and see it as a very worthwhile and meaningful way of encouraging students to develop an interest in STEM subjects."
Performance Engineered Solutions (PES), engineering design specialists based on the Advanced Manufacturing Park (AMP) in Rotherham, are one of the companies getting involved to inspire the next generation of engineers. A visit from students from St Wilfred's High, Featherstone helped to prepare them for TeenTech's Innovation Awards.
Rotherham-based electronics retailer, Maplin attends the events and sponsors the awards. It works with winning students to make their innovative products real.Maggie Philbin, CEO of TeenTech added: "We are delighted to be returning to South Yorkshire and to be partnering B&E Together and RiDO. The jobs of the future will be going to young people who have skills in Science, technology and engineering. There are so many different opportunities and entry points and we want to young people of the region to understand they could very much be part of these industries.
"It doesn't matter whether you work for a large global company, a research institution or intend to set up your own company – gaining certain skills will make sure you are ahead of the field. It makes such a difference when young people hear first hand from young graduates or apprentices about why they enjoy their work. The young people listen to these near age role models and start to see themselves standing in their shoes.
"Feedback shows that companies very much enjoy the experience of taking part. Not only is it an opportunity to inspire young people but it's a great personal development opportunity for employees."
Rotherham-based retailer, Maplin has been named in the 11th annual Sunday Times Grant Thornton Top Track 250 league table that ranks the UK's private mid-market growth companies with the biggest sales.
The league table is the sister publication of Top Track 100, which identifies Britain's 100 private companies with the biggest sales. Top Track 250 ranks the 250 next biggest private companies, which qualify for the league table provided either sales or operating profits have increased by at least 10% in their latest available accounts. Sponsored by Grant Thornton and Barclays, it is compiled by Fast Track, the Oxford-based networking events and research company, which champions the UK's top-performing private companies and entrepreneurs.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 218 stores. Oliver Meakin has recently been appointed as the new CEO of the firm that was sold for £85m to new owners, Rutland Partners in 2014.
The latest yearly sales figure climbed 6.3% to £237m and marks six consecutive quarters of positive growth. It is up up from £100m when Montagu Private Equity acquired the business in 2004. Much of Maplin's growth has been fuelled by changes to its online and fulfilment offering, with web sales up 20.6% compared to one year before to represent more than 10% of total sales. Underlying EBITDA (earnings before taxes) in the year to March 21 2015 was flat at £18.3m.
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.
The sales figures place Maplin at 111th on the list and is the first time the company has made it into the Top 250 since 2011. It joins the likes of Nando's Chelsea Football Club and Travelodge.
Andy Wood, Partner at Grant Thornton UK LLP, the title sponsor of the league table, said: "It's inspiring to see such a diverse range of businesses creating growth opportunities both at home and abroad and positively contributing to the UK economy.
"The fact that over half of the Top Track 250 businesses are headquartered outside of London and the southeast speaks to the growing influence of the UK's regional business hubs and the opportunity these present in the creation of a more vibrant UK economy, where business and people can thrive."
Award-winning Rotherham manufacturer, AESSEAL, dropped out of the league table having posted a small decrease in sales. AES Engineering Ltd, parent to the AESSEAL Group, reported its annual results for the year to December 31 2014 which showed sales of £142m down 3.1% on 2013's £146.5m. EBITDA (Earnings before taxes) rose to £25.2m, up 6% on 2013.
Rotherham-based electronics retailer, Maplin, has sold its former warehouse to Naylor Industries, a Barnsley-based building supplies company.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 218 stores.
Naylor is a fourth generation family business that has manufactured pipes in clay and latterly in plastic since its formation in 1890. It has operations in South Yorkshire, Scotland and the West Midlands. In 2013 it acquired Wath-based Amco, a high volume manufacturer of ventilation ducting and plastic tubing. Turnover increased from £42.3m to £46.6m in 2014/15; growth of 10%.
In a deal brokered by Lambert Smith Hampton (LSH), Naylor has acquired the freehold of the 57,000 sq ft building in Wombwell for an undisclosed sum from Maplin, which had previously used it as a distribution centre.
Naylor has successfully applied for a change of use of the building from B8 distribution to B2 general industrial with a view to manufacturing on the site. Plans are being put in place to move Amco onto the larger site in Wombwell, integrating it into the specialist plastics division.
Advertisement Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. Montagu Private Equity sold the company to Rutland Partners for £85m in 2014. The latest yearly sales figure climbed 6.3% to £237m and marks six consecutive quarters of positive growth.
In 2008 Maplin moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.
Tom Burlaga, agency surveyor at LSH in Sheffield, said: "This building was previously owned by Maplins but has been vacant for a number of years after it was deemed surplus to requirements so we are delighted to have concluded a deal with Naylor less than a year after being instructed on the property.
"Naylor is a well know company in the region and this acquisition will allow it to continue to expand while keeping the core of its operations in South Yorkshire near to its head office in Barnsley.
"The site will also bring new jobs to Wombwell, which is great news for the local economy and the ideal scenario for the previous owners Maplin which continues to have a strong association with the area."
The deal also a reflection of a strong industrial market in South Yorkshire which has seen LSH's Sheffield office involved in deals totalling more than 250,000 sq ft already this year with another 100,000 sq ft under offer.
Tom added: "This is our strongest first half year for a number of years and reflects a steadily improving economy in the region with businesses of all sizes looking for accommodation in the region, either for distribution or general manufacturing."
Rotherham-based electronics retailer, Maplin has announced that John Cleland will step down as CEO later this year and move into a non-executive director role.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 218 stores.
Oliver Meakin has been appointed as the new CEO of the firm that was sold for £85m to new owners, Rutland Partners in 2014. Taking the role in September 2015, Meakin moves from commercial director, where he held responsibility for eCommerce, buying, merchandising, supply chain and leading a business transformation programme over the last year, which has helped contribute to encouraging annual sales growth.
The latest yearly sales figure climbed 6.3% to £237m and marks six consecutive quarters of positive growth. It is up up from £100m when Montagu Private Equity acquired the business in 2004. Much of Maplin's growth has been fuelled by changes to its online and fulfilment offering, with web sales up 20.6% compared to one year before to represent more than 10% of total sales. Underlying EBITDA (earnings before taxes) in the year to March 21 2015 was flat at £18.3m.
Maplin has nearly tripled its product range in two years and some of the top selling products in the year included drones, CCTV cameras, portable power, powerline adaptors and the 3Doodler, the world's first 3D printing pen.
New initiatives such as reserve at store, and click and collect were key drivers of the growth. Maplin also partners with Shutl to offer a same day delivery service which includes an ASAP delivery service which could see goods delivered within as little as 90 minutes.
In October, Maplin opened its first trade store in Sheffield aimed specifically at sole traders and small businesses.
Cleland, who has previously worked for ASDA, Somerfield and the Co-op, will stay on at Maplin as in a non-exec role as the company creates a new-look senior team.
Darren Shapland, chairman at Maplin, said: "John has completed the three year plan he set out which has delivered a better Maplin with improved stores, wider range and a focus on customer service via the 2600 colleagues in the Maplin business which he has led with drive and commitment which is second to none.
"With this stage complete this is a natural time to handover to Oliver who has worked closely with John over the last three years and can build on the solid platform which has been put in place. The combination of Oliver's skills alongside the management team that John and Oliver have recruited plus John's continued involvement as a non-executive should add both breadth and capability to the delivery of the next stage of the Maplin plan."
John Cleland, CEO at Maplin, said: "It's been a great team effort and I would like to thank all of our colleagues for the commitment they have shown in putting our customers first.
"The results show that our focus on improving the Maplin product and service proposition and our commitment to the best customer experience is working well. We are pleased with the progress made in the last three years marking the delivery of the stabilisation of the Maplin business and the creation of a sound platform for future growth."
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.
Leading Rotherham companies are amongst the mid-market firms that are driving growth in the region, according to the Yorkshire Report 2015, published today by accountancy and business advisory firm BDO LLP.
The top 250 firms in Yorkshire have increased revenues by £6bn to £102bn, and now have cash in the bank in excess of £3.2bn – an almost £1bn leap from the previous reporting period. However, further analysis which splits the top 50 firms (£300m+ turnover) and the mid-market 200 reveals it is the region’s medium-sized businesses that are driving growth and prosperity for Yorkshire.
Mid-sized firms are rapidly outperforming their larger peers in all key performance indicators. Turnover, overseas sales and employee numbers are growing faster in the mid-market than they are among Yorkshire's biggest businesses.
Turnover has grown by 13.2% for mid-sized firms (compared to 5.2% for the largest 50 companies); employment levels are up 11.6% (compared to 2.8%) and overseas sales have rocketed by 19.3% (compared to just 3.6% in large firms).
Rotherham firms making onto the list include manufacturers, AESSEAL, AMG Superalloys UK Limited (formerly LSM), Exol Lubricants, ABS Industrial Resources Ltd, Jeld-Wen UK Ltd, New York Bakery Company Ltd, Schaeffler Automotive Aftermarket (UK) Ltd and Esco Emea Holdings (UK) Limited (the UK branch of Esco that purchased Hydra Mining Tools). Also in the top 250 are nursing home operator, Falcon Capital Investments Limited; the construction group, Horbury; electronics retailer, Maplin; growing national recruiter, Nicholas Associates; and SVM Europe, a leader in the gift card industry.
Terry Jones, partner and head of BDO LLP in Yorkshire, said: "Yorkshire firms have recovered well and are growing strongly, with cash in the bank, employment and overseas sales all on the up. But what's really clear is how important the mid-market is to our regional economy and future prosperity.
"Medium-sized businesses – our newly named "Brittelstand" - are the real drivers of growth in our region. With continued investment, ambitious growth strategies and the right government support, they will fast become the big businesses of tomorrow."
The backbone of Yorkshire's economy remains strong, with manufacturers accounting for 72 of the top 250 companies. The region's manufacturers saw profits before tax jump 38% to more than £1bn in the reporting period. The sector also accounts for more than half (£4.9bn) of the total overseas sales made by the 250 companies.
The retail sector continues to be the largest contributor to revenues (£44.3bn), however profits have plummeted following another tough year for food retailers Asda and Morrisons which account for more than 90% of the sector's revenues. Manufacturing was the second biggest contributor with revenues at £12.4bn, followed by the food and drink sector which recorded a 22% jump to £11.3bn.
Rotherham-based electronics retailer, Maplin has reported sales of £237m as part of its year-end results, the first results after the £85m sale to new owners, Rutland Partners.
Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 218 stores.
The latest yearly sales figure climbed 6.3% to £237m and marks six consecutive quarters of positive growth. It is up up from £100m when Montagu Private Equity acquired the business in 2004. Like-for-like sales were up by 4.3% and online sales, which now represent almost 10% of total sales, recorded full year growth of 20.6%.
Maplin has nearly tripled its product range in two years and some of the top selling products in the year included drones, CCTV cameras, portable power, powerline adaptors and the 3Doodler, the world's first 3D printing pen.
New initiatives such as reserve at store, and click and collect were key drivers of the growth. Maplin also partners with Shutl to offer a same day delivery service which includes an ASAP delivery service which could see goods delivered within as little as 90 minutes.
In October, Maplin opened its first trade store in Sheffield aimed specifically at sole traders and small businesses.
John Cleland, chief executive at Maplin, said: "This has been another positive year’s performance for Maplin. The results show that our focus on improving the Maplin product and service proposition, along with our commitment to the best customer experience, are all working extremely well.
"Whilst there has been substantial investment in changing Maplin, the improvement in profitability is encouraging and gives us a really strong platform for continued future growth.
"In the year ahead we will continue to unite our sales and service channels for the best customer journey and will continue to invest in the help and advice our colleagues provide, as well as continuing to support product innovation."
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.
The Rotherham HQ of electronic retailers Maplin has been bought by investors, the second such transaction in little over a year.
The £15.1m deal is the first by a new UK commercial property joint venture formed by Oxenwood Real Estate and Catalina Holdings, a Bermuda-based reinsurance investment company.
The retailer sells a range of 15,000 products to tech-savvy hobbyists as well as general consumers through a popular website and a network of over 200 retail outlets throughout the UK and Ireland.
Maplin, which was recently sold to Rutland Partners for £85m, moved to a 220,000 sq ft state of the art distribution centre and head office at Manvers in 2008. Originally signed on a 15 year lease from December 2007 a ten year extension was agreed in 2013. The passing rent is £1,006,000 per annum, which reflects a net initial yield of 6.3%.
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In August 2013, the same property was acquired in a £11.5m deal by an unnamed UK investor, now assumed to be the Merseyside Pension Fund, given that they were the vendor in the recent transaction.
Sheffield's Commercial Property Partners represented the Merseyside Pension Fund and had advertised the property with offers sought in excess of £14.6m. CBRE represented Oxenwood Catalina Limited.
Stewart Little, co-founding partner, Oxenwood said: "The acquisition of Maplin's headquarters and distribution centre is the first from a pipeline of transactions across the UK which we are considering for the Joint Venture and represents an excellent seed asset. Despite increasing equity flows into the market, we are encouraged by the range of opportunities we are seeing and we very much look forward to progressing our investment programme."
Rotherham-based electronics retailer, Maplin, has announced that Darren Shapland will be appointed as non-executive chairman of the company, taking over from John Lovering, who retired as chairman in June after the £85m sale to new owners, Rutland Partners.
Manvers-based Maplin sells a range of 15,000 products to tech-savvy hobbyists as well as general consumers. Rutland, the investor which specialises in special situations, operational change and turnaround, said that acquiring Maplin represents an exciting opportunity to build on recently improved performance in the business and help management deliver a broad based strategic plan aimed at releasing its further potential.
Shapland's career has seen him take on senior roles at Carpetright, Poundland, Sainsbury's, Wolseley, Superdrug and Arcadia.
John Cleland, the CEO retained by Rutland Partners at Maplin, said: "We are all delighted to have the opportunity to work with Darren. He brings a wealth of business and retail knowledge, which will undoubtedly add momentum to the solid growth and success of the business last year."
Maplin has delivered consistently strong like-for-like sales improvement over the course of the past 12 months and continues to deliver against its growth strategy under new ownership. Turnover for the 64-week period to March 2014 was £269m, up from £100m when Montagu Private Equity acquired the business in 2004.
Maplin has doubled its product range in two years and invested both in its store estate and the creation of a new website.
Darren Shapland, who will become non-executive chairman of Maplin in September, said: "I am delighted to be working with Maplin as non-executive chairman. The business model is unique and the company has great plans for the future. I'm looking forward to joining a great team."
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Manvers in Rotherham.
Rotherham-based electronics retailer, Maplin, has new investor owners after Montagu Private Equity announced that it has reached agreement to sell the company to Rutland Partners for £85m.
Manvers-based Maplin sells a range of 15,000 products to tech-savvy hobbyists as well as general consumers.
The company's website attracts over 170,000 visitors every day and they operate a network of over 210 retail outlets throughout the UK and Ireland. They employ 2,500 staff.
Today Maplin generates over £220m in revenues, up from £100m when Montagu acquired the business in 2004, but it has gone through a challenging few years.
A new management team was introduced in 2012 to fundamentally reposition the business in a rapidly changing environment. In particular, they have refreshed the store experience, invested in a new web platform and refocused the business on innovation and "first in, last out" product ranges that so appealed to customers historically. In addition, the business has invested heavily in online cross channel retailing and fulfilment disciplines, all of which are contributing to a recovery in the business.
Current trading is strong with EBITDA (earnings before taxes) back in growth and like for like sales showing high single digit growth.
As part of financial backing from Lloyds in 2012, Maplin repaid the original acquisition finance that was used to fund the reported £244m secondary management buyout of the business in 2004. The new deal is being backed by specialist acquisition finance provider, Investec Growth & Aquisition Finance.
Rutland focusses on special situations where, through change, restructuring and investment, it can help improve the business. Rutland said that Maplin represents an exciting opportunity to build on recently improved performance in the business and help management deliver a broad based strategic plan aimed at releasing its further potential. Rutland is backing John Cleland and the incumbent management team.
John Cleland, CEO of Maplin, said: "Our strategic plans for Maplin represent substantial growth in sales and profit, continuing on the journey already mapped out that focusses on improved customer experience in all key channels, substantially broadening our range of products and innovation, and investing in our ability to offer the best electronics and technical advice to our customers.
"The management look forward to working closely with Rutland Partners in the future; they bring a wealth of strategic and operational experience which Maplin will benefit from as they support us in our plans to take the business forward."
John Lovering, retiring chairman of Maplin, added: "The team Montagu recruited, led by John Cleland, has done an excellent job. Personally, I think Maplin is on the threshold of a great period in its history. It is now time for a new shareholder to take the business forward, building on the strong foundations laid.
"We all wish the management and colleagues every continued success with their new backers."
Maplin is the first investment from Rutland Fund III. The transaction was led on behalf of Rutland by Nick Morrill, Ben Slatter, Tristan Craddock and Mike Reynolds. PwC acted as advisor to Montagu.
Nick Morrill of Rutland, said: "We are delighted to be able to invest in Maplin and recognise the great progress made by management so far in the recovery of the business but more importantly the potential still to be unlocked."
Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise.
Maplin's current turnover is a world away from the early days in Essex when founders, Roger Allen and Doug Simmons, remained in their full-time jobs for two years, and the company didn't make a profit.
In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Manvers in Rotherham.
A number of top Rotherham businesses are amongst Yorkshire's largest 150 companies, that together have amassed more than £10.4bn cash in the bank, according to analysis from accountancy and business advisory firm BDO LLP in Yorkshire.
The BDO Yorkshire Report 2014, now in its eighth year, which compiles the latest published accounts from Yorkshire's largest 150 businesses based on revenue, analyses trends and acts as a barometer of health for the region.
Rotherham firms that make it into the top 150 include CF Booth, AESSEAL (pictured), London & Scandinavian Metallurgical Co Ltd (Now called AMG Superalloys), Maplin, LUK (UK) Ltd, JELD-WEN UK and ABS Industrial.
Companies' war chests have increased sharply by 22% on last year's figures, with cash reserves now at their highest level since records began in 2007, providing a sure fire signal that M&A activity could flourish over the next few years.
Yorkshire's biggest businesses have also boosted growth prospects by increasing investment by a further £500m, taking total investment expenditure in property, plant and machinery to almost £3.5bn in the reporting period.
Advertisement The report also found that the top 150 saw revenues increase to £90.7bn, from £88.7bn last year and £83.8bn the year previous. Operating profits increased by 5% to £4.56bn and a more focused effort on overseas markets saw international sales grow by £1.7bn, up 7.7% to more than £12bn.
Terry Jones, partner and head of BDO LLP in Yorkshire, said: "There is an overwhelming feeling of confidence across the region and the figures in this year's report confirm that growth is firmly back on the agenda.
"Having built up cash reserves during the last few years, the challenge now is for management teams – many of which may not have the experience in dealing with a "positive" cash crisis – to have the confidence and expertise to choose where to invest.
"It's a challenging prospect having spent the last four to five year's heads down firefighting, but businesses must look forward and seize the opportunities a recovering market presents. This year's success stories will come from those brave enough to invest three-fold; in talent, technology and international markets."
The contribution of manufacturing to the group increased during the year, with employment per company up 9% and overseas sales rising nearly 10%. Of the Rotherham firms, only electronics retailer Maplin is not in the manufacturing sector.
The number of manufacturers in the top 150 rose to 34 (from 31 last year), generating more than £10bn in revenue (£1bn more than last year).
