Aberdeen planning consultancy refocuses

Owners of an award-winning planning consultancy have announced a refocus of their activities with sights set firmly on emerging technology and renewables infrastructure.

Aurora Planning’s Founding Directors Maggie Bochel and Pippa Robertson decided on the refocus as they embarked on their sixth year in business.

Maggie Bochel said: “We’ve had the pleasure of working on a very diverse range of projects from securing the first planning permission for a vertical launch spaceport in the UK, to consents for home improvements which significantly improve the quality of life that the people living in those homes enjoy.

“We live and breathe planning and have loved every minute of the diversity of the work we’ve been involved in but have now decided to focus on two core sectors.”

Pippa Robertson added: “As a new wave of technology and infrastructure comes we are there along with them ensuring the future of Scotland’s sustainability infrastructure.

“It’s really exciting to be part of building new frontiers and this reflects our commitment to ensuring that development delivers for tomorrow, as well as for today.

“At the same time, we will continue to support projects that deliver community and social benefits, including community-led development projects and charitable work.”

British energy supply-chain companies are facing a variety of tough headwinds in today’s difficult economic environment.

Trade body Offshore Energies UK (OEUK) has highlighted that there is a lack of confidence across the sector.

Supply-chain contract margins are being eroded by high inflation, while firms have reported that operating costs have jumped by up to 20% since early 2021. And other woes include higher post-Brexit administrative costs.

Katy Heidenreich, OEUK’s Supply Chain and People Director, said: “We are seeing businesses battling to control inflation and, at a national level, we know Brexit has had an impact - making it harder to import and export goods and take advantage of business opportunities within EU countries.

“Most recently, companies or all sizes in our sector have been hit by the uncertainty created by the increase of the energy profits levy when we were already the most highlytaxed industry in the UK.”

OEUK says more action is now needed from both government and industry to support supply-chain firms in playing a critical role in sustaining oil and gas activity while helping to build the UK’s low-carbon future energy systems.

Last year was generally good for deals, although it tailed off somewhat towards the end. We all appreciate that investments can go up as well as down. Yet, even so, investors want as much certainty as possible. Therefore, with the political upheaval as prime ministers came and went, and a mini-Budget causing financial turmoil on top of already challenging economic conditions, it wasn’t surprising investors seemed to press pause. With the landscape becoming a bit more settled, it’s likely deal activity will pick up again. The motivations are still there for acquisitions. Complementary businesses continue to be packaged up as a group for subsequent disposal. There is consolidation for greater market share across all industry sectors - and not just oil and gas related - with dental practices, retail pharmacies and packaging seeing a lot of activity lately. However, it will be interesting to see whether oil and gas, for so long the major driver of deals in the North-east, will continue to be so dominant. Much is said about the energy transition, and certainly the move to renewables is gaining traction - as it must, given net zero targets. It’s likely we’ll see more diversification as traditional oil and gas sector players look to move into greener markets.

Jody Mitchell, Partner, Ledingham Chalmers LLP

Last year’s stand-out transaction was Ithaca Energy’s listing on the London Stock Exchange. It was fairly remarkable given the background of economic and political uncertainty we were navigating. However, Ithaca was in a strong position due to the quality of its management team and a superb track record of executing a number of well-considered acquisitions over the last decade, which transformed the business into one of the leading operators on the UK Continental Shelf. It’s unlikely we will see deals of a similar stature in 2023, certainly in the first half, with corporates more cautious about rushing to the markets because of continued economic uncertainty. On a positive note, the Ithaca listing did underline a renewed appetite for investing in oil and gas, and I think we will continue to see in 2023 a broader range of investment funds returning to hydrocarbons, with an uptick in takeover activity, especially in the oil services companies space where investors will feel they can extract value more efficiently in the private domain. The pivot by oil services firms to a more sustainable renewable energies-focused future is still in full swing and those companies which have demonstrated versatility in entering this lucrative market, and which can make full use of the transferability of skills and technologies from oil and gas to renewables, will attract the attention of investors.

Rosalie Chadwick, Partner and Global Head of Oil and Gas, Pinsent Masons LLP

Like most corporate practices, our team at Aberdein Considine had an extremely busy 2022 underpinned by a strong local M&A market. Activities we would highlight as notable in this regard for Q4 of 2022 would be advising Vulcan Completion Products on its equity investment from Sawafi, advising the shareholders of Cable Solutions in its disposal to Dron & Dickson and advising Porter Pharmacy on the acquisition from Lloyds of its Westhill operation. Despite the significant macroeconomic headwinds, this trend has continued into 2023, and we have a strong pipeline of activity through Q1 and Q2. Across the supply chain in the energy sector, there is a continued push to diversify - in particular to acquire or invest in businesses with green energy and renewables capabilities. That, combined with the bounce in the part of the supply chain serving the traditional oil and gas market, has certainly created a fertile environment for M&A discussions. There is no doubt, however a nervousness across the North-east, as to the potential ripple effect of some of the recent policy decisions coming out of Westminster and Holyrood. I think we would all welcome the confidence boost which would come with some long-term and strategic political support for the region’s business community.

Ritchie Whyte, Partner and Head of Corporate, Aberdein Considine

Acumen Financial Planning has won the New Model Adviser award (Scotland and Northern Ireland) for the fifth time. Having competed against a variety of firms across the UK, Acumen Financial Planning was commended by the judges for their willingness to share best practice, client education and recruitment. They were also praised for their contribution to professional standards, employee development, investment propositions, client service propositions and good use of technology.

Keith Mackie, a Director of Acumen Financial Planning said: “Winning the New Model Adviser award for the fifth time is a huge honour.

“At Acumen Financial Planning we are advocates for financial planning and continue to ensure financial planning advice is accessible to all, be it those beginning their financial planning journey, through to those who are looking to pass on their accumulated wealth to loved ones.

“To be able to provide financial education to both clients and local communities is very rewarding.“Our work within local schools is something we are particularly proud of, and we look forward to continuing this in 2023. I would like to thank all our dedicated staff for their commitment, hard work and continued support.”

Aberdeen-based restaurant Amuse by Kevin Dalgleish has been featured in the 2023 Michelin Guide for Great Britain and Ireland.

Amuse is an informal restaurant complete with a contemporary bar, private dining space, and intimate outdoor area. His menus highlight the best local and regional Scottish produce available from land to sea, with a touch of classic French flavours.

Kevin Dalgleish has been one of the North-east of Scotland’s most prominent chefs for the last two decades. After training under the legendary Anton Edelman at The Savoy in London, he moved back to Scotland as Head Chef for 10 years at the exclusive Ackergill Tower. In 2012, Kevin joined The Chester Hotel in Aberdeen as Executive Chef before opening his first restaurant, Amuse, in Queens Terrace last July.

A project team has been brought together to support the construction of an MRI facility and full refurbishment of the mental health ward at Dr Gray’s Hospital.

A project board was set up to progress work at a senior level on these interlinked plans at the end of last year and the project team met for the first time in January.

A working group bringing together colleagues from Royal Cornhill Hospital and Moray’s mental health services is also making progress, with a workshop planned for early February. This will look in detail at how best to maintain safe mental health service provision during the building works.

An initial site visit with architects and project team members took place recently at Dr Gray’s. A report will be presented to Grampian NHS Board in the coming months and the aim is for it to be possible for work on the MRI construction to begin in May this year.

Simon Bokor-Ingram, who leads the Moray portfolio for NHS Grampian and is Chief Officer for Health and Social Care Moray, explained: “These projects will be a huge asset to the community, and we are looking forward to working with a range of partners to deliver the very best facilities we can on the Dr Gray’s site. The MRI construction will be made possible through National Treatment Centre funding while the mental health ward work represents a capital investment by NHS Grampian. This joint project is just one example of ongoing investment and improvement works to ensure Moray health services are fit for the future.”

The MRI facility is a highly anticipated development; not only for radiology staff but also for patients waiting for treatment across Scotland.

Simon added: “We are making every possible effort to progress these works at speed. It is also essential we take the time to ensure those accessing mental health services continue to receive safe and clinically appropriate services during the construction period. The work in progress to ensure we maintain safe mental health service provision is extensive and demands the input and expertise of ward staff, senior clinicians and primary care professionals, as well as being appropriately informed by those with lived experience of accessing services and services we work in partnership with.”

Seaway 7, part of the Subsea7 Group, has announced that it has been awarded a large contract for an undisclosed offshore wind farm project. The scope includes the transport and installation of inner-array and export power cables and respective cable protection systems. Operations on the project are expected to commence in 2023 and continue through 2024 and 2025. The contract is subject to final investment decision by the client.