Despite the turbulence, businesses, now more than ever, are truly innovating to create solutions to navigate through these unforeseen and forever changing times.
It has been inspiring to see our clients adapt, protect cash flow and grow. Watching businesses “change shape” and “find the opportunity” to storm through the pandemic.
From digital temperature screening to the most cost-effective cycling insurance and aviation innovation, DTM Legal has continued to deliver advice to award-winning innovators.
Evoke Creative, lead the way with digital temperature screening …
Evoke Creative, based on the Wirral, has created a contactless process allowing companies to screen staff and visitors for signs of coronavirus before they enter their premises. The unit also includes a hand sanitiser.
Companies are finding the new product invaluable when wanting to offer maximum protection to staff, customers and other visitors, following the COVID-19 lockdown.
Ed Barnes, head of corporate commercial at DTM Legal commented, ‘We have worked alongside Neil and Dean for a very long time and seen the business grow significantly. Their innovation via technology to solve key problems is second to none and has provided a solution for a really important and relevant problem for businesses.’
Aviation industry bucking the trend…
The majority of UK companies dealing with the Aviation industry have been affected in an adverse way, including redundancies, struggling suppliers and cashflow pinch. There are some however that have felt a positive impact from the pandemic.
Regulated by CAA, aircraft have 1,000’s of component and have a scheduled maintenance programme to maintain the performance of the aircraft. The aircraft are typically leased on a 5-10 year period. At the end of the term, the aircraft are handed back to the lease company, inspected and delivered to the next operator. This transition activity is very specialised and can include storage/parking scheduled/unscheduled maintenance and technical records reviews. The niche market is operated by a small number of accredited companies, Aircamo Aviation being one of them.
The engine is the highest value single item of an aircraft. Every 5 years each $multi-million GE, Pratt & Whitney and Rolls Royce engine have to go through a major overhaul which includes dismantling, maintenance and reassembling. Due to the airline finance structuring, cashflow constraints and the current demand for flights decreasing there has been a substantial increase in the need for spare engines to be stored and maintained in an approved facility. This coupled with the Aviation Forum – “Aerospace Wales”, the pooled skilled aircraft engineers locally in North Wales, Aircamo have ‘been really fortunate’ and have a growth trajectory for the next 2-5 years. Being niche, diversified and in a specialised sector has ensured an opportunity.
Helen Nash Partner at DTM Legal commented, “We have advised on the lease and licence of alterations for a storage facility in Hawarden and delighted that Aircamo has been able to grow and expand during these turbulent times.”
“Having a few strings to our bow has meant we are in a situation where we can soon offer an Apprenticeship scheme to bring through certified engineers into a specialised industry. We have plans afoot for an engine recycling facility too. The industry has had a knock but there is still room for growth.” Operations Director Martin Sharp, Aircamo.
Bikmo secures £1.8 million funding…
DTM Legal recently advised on and supported Chester based, Bikmo Limited in securing £1.8 million in funding with the investment lead by Development Bank of Wales alongside specialist global insurer Hiscox and existing and new angel investors.
Alison Brennan, a partner at DTM Legal, headed up the team advising Bikmo on this complicated transaction which was completed just after the UK went into lockdown (trying to arrange completion of numerous documents with numerous parties from around the world all in lockdown to some degree or other bringing its own unique complications!). In conjunction with the completion of the investment, Helen Nash advised Bikmo on securing a lease of new premises in Wales.
Alison Brennan commented, “It was an absolute pleasure to work alongside Dave and Louise. As a member of our local Tri Club and a keen cyclist myself, I understand the importance of specialist insurance covering the bike, rider and others both in day to day cycling and in participation in sports, races and other events. As a firm we are passionate about encouraging active transport to work and encourage employees to utilise the ‘Cycle to work scheme’ and one positive of the Covid-19 pandemic has been the increase in people cycling. That this is finally receiving some support from Government is an added bonus – it would be fantastic to see cycling at the forefront of our transport systems in the future.”
Louise Towers, Bikmo, commented, “With the trusted support and pragmatic approach of Alison Brennan, partner at DTM Legal we are so pleased to announce we have successfully secured £1.8million investment to support Bikmo’s global growth of our expert cycle insurance business. We were in safe hands with DTM Legal throughout the negotiations which was very much needed during these uncertain and unprecedented times. Alison Brennan is a truly trusted corporate partner that I would recommend without hesitation. Alison worked alongside Helen Nash, property partner at DTM Legal.”
Partner, Richard Thomas, commented,
“The last 4 months have seen significant changes across business across the world. The pandemic has caused many problems for business but opportunities too and it is great to be working with businesses who are seizing those opportunities.
We’re so proud to have such strong partnerships with our clients and know these relationships have been imperative through these difficult times. We continue to provide outstanding service to ensure our clients stay strong, positive and heard through this ongoing unsettling period.”