Sector Focus
Finance
Sponsored by: Mahay Financial Services Sector Focus
The launch of a new department
Mahay Financial Services are pleased to announce the launch of their Commercial & Development Finance department. This recognises the firm’s ambitions in the commercial sector. With the addition of key people, with expertise in finance, construction and engineering industries, it demonstrates the ability to provide effective bespoke solutions for its clients. The company has a proven
track record of negotiating and delivering solutions bringing about real growth and development in the local economy. Diversification of its existing networks has enabled it to bring about future development both in the West Midlands and wider regions of the United Kingdom.We are committed in the aim of facilitating growth in the Northern Power House and the Midlands Engine by bringing together investors, developers and local authorities. We have pleasure in announcing the roll out of its automated electronic CRM system. The firm is committed to this automation and confirms that the transition is effective in providing efficient services to our clients. The firm looks forward to the increased business possibilities created as a result of this. The company’s director, Mrs
B Chand, extends an open invitation to all intermediaries to work with the firm and to deliver enhanced benefits to your clients.
T: 0121 551 7676 F: 0121 551 6274 M: 07900 545726 E:
bally@mahaysolutions.com W:
www.mahaysolutions.com
The latest news from the sectors that matter to business
Experts warn of wide reach of Carillion fallout
The shock waves from the Carillion collapse will be felt across the Midlands for some time, according to national audit, tax and advisory firm Crowe Clark Whitehill. Rob Gunn, tax partner in the
firm’s Midlands office, said: “The impact is already being felt by the upstream supply chain with a possible domino effect. Small and Medium-sized Enterprises (SMEs) who are owed lots of money by what was a ‘secure’ plc could now be in difficulties themselves.” The collapse of Carillion caused
by a large debt pile, unprofitable contracts and unpaid debts in the Middle East highlights the risks construction companies face in a competitive environment. Rob said: “This can be
exacerbated by the public sector forcing prices for construction contracts down so margins are low. The repercussions are being felt now and will be felt for some time.” There is concern for the
approximate 20,000 employees in
the disruption to its government contracts managing schools and hospitals, as well as supplying Network Rail and being involved in HS2, cannot be understated.” He urged companies chasing
monies owed by Carillion to take early advice on the best means of recovering these funds.
‘Small and Medium- sized Enterprises who are owed lots of money by what was a ‘secure’ plc could now be in difficulties’
The collapse of Carillion also Domino effect: Rob Gunn
the UK along with the wider question of whether it will be the government or another provider picking up some of the loss making contracts. Rob added: “The concern over
reaffirms statistics from Crowe’s 2017 Property and Construction report which found that 27 per cent of the property and construction respondents to the survey were most concerned about the UK economy which is leading to over- competitive pricing on contracts.
Expansion for health care provider
A West Midlands health care provider has purchased a third care home following funding from Barclays. Oaktrees Healthcare Ltd, which is
owned by father and son Pete and Mohan Saini, has purchased Oriel Care Home in Stourbridge. The family business, which was
established in 2012, also has two further homes in Fazeley, Tamworth (Bonehill Lodge) and The Croft in Finchfield, Wolverhampton which received an ‘outstanding’ in its latest CQC assessment. Oriel Care Home is situated on
MEMBER OF THE NATIONAL ASSOCIATION OF COMMERCIAL FINANCE BROKERS
Mahay Financial Services is a trading style of Mahay Solutions Limited. Mahay Solutions Limited is authorised and regulated by the Financial Conduct Authority. FCA number 673400.
56 CHAMBERLINK March 2018
the Hagley Road, provides care for 33 clients and employs 40 staff. Director Pete Saini said: “When
we first set up the business in 2012, it was our ambition to provide a high level of quality care. “We believe we have achieved
this at both Bonehill Lodge and The Croft and were delighted with our recent outstanding rating which is very difficult to achieve in this
Care home expansion (from left): Richard Bridgwood, Jane Linford (care home manager) and Pete Saini
sector. “Our plan now is to enhance the
reputation at Oriel Care Home to offer the best standard of care we can to our clients and a great environment for our staff.” Richard Bridgwood, relationship director at Barclays in the Black
Country, said: “Since its inception in 2012, Oaktrees Healthcare Limited has gone from strength to strength and become a real force in the care homes industry in this area. I wish them every success with the ongoing development of Oriel Care Home in Stourbridge.”
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