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Diversified Financial Services
adderstonegroup.com

Investments

8

Partners & Customers

2

About Adderstone Group

Adderstone Group is a dynamic and passionate property development and investment business founded in Newcastle upon Tyne, delivering development strategies for our own projects and institutional investor partners.

Headquarters Location

Unit 5, Maling Court Union Street, Newcastle Upon Tyne

Tyne & Wear, England, NE2 1BP,

United Kingdom

0191 269 9900

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Latest Adderstone Group News

Shop workers fear losing their jobs over changes to payment system at Hexham car park

Apr 21, 2022

Shop workers fear losing their jobs over changes to payment system at Hexham car park The developer has said there were "teething problems" when the new system was brought in but these have now been addressed Sign up to FREE email alerts from our Money Saving Club Newsletter Something went wrong, please try again later.Invalid Email Subscribe We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Thank you for subscribing!We have more newsletters Show me See our privacy notice Shop workers in Hexham fear they could lose their jobs after controversial changes to a car parking payment system saw customers boycott two businesses. That's the word of the Northumberland town's mayor, Coun Derek Kennedy, who said he and fellow councillors had been contacted by concerned staff at the town's Marks and Spencer and B&M Bargains stores at Maiden's Walk. The owners of the adjoining car park - Newcastle-based development company Adderstone Group - recently changed from a cash machine system to a cashless payment process. However, on the first weekend the new system was brought in, technical issues meant that all customers who used the car park were issued fines. Adderstone have said the issues have now been addressed and work has been done to educate users. Coun Kennedy, who also represents Hexham West on Northumberland County Council, said: "What they have done is made it so there is no cash and the disabled bays, which used to be free, you now have to pay. "They haven't done the education and told people what's changing. The fines system for the first two days sent everybody a fine. That's bad, it's not how it should work. "People are saying they're never going to shop there again which is terrible. It's all confusing - people keep getting it wrong. What they should have done is say they were introducing it but disabled the fine system for a month to get a smooth transition. "We're having lots of stories from staff members who are worried about their jobs because less people are turning up. We're really fond of both M&S and B&M and we want them to be part of our future family in Hexham. "We don't want a ridiculous thing over a car park charging problem to bring two blue-chip companies out of Hexham. It is not good enough what has happened." Hexham MP Guy Opperman has also waded into the row and voiced his own concerns. In a statement, he said: "I am seriously concerned by the changes at Maiden’s Walk car park in Hexham. "Cash payments have been stopped and blue badge holders are having to pay when they previously didn’t. "This new system is making life very difficult for local residents, and those who travel into Hexham to use this car park. "I'm particularly concerned that the changes are disproportionately impacting elderly and disabled people. Guy Opperman (Image: Newcastle Chronicle) "The changes have also had a significant impact on M&S and B&M – as some of their customers have not been able to park and shop in the way they are used to. "My team and I are assisting, processing complaints against any unfair fines issued to local people." Adderstone Group has since explained why the changes were made and insisted the system is easy to use. An estates surveyor from the group said: "A cashless payment system has been implemented. Most car parks around the country operate in this way. There were teething problems for the first weekend but these were immediately resolved and Hozah has put a great deal of effort into educating users. "Cash machines not only pose a security risk but are also more labour intensive, costly to manage and prone to breakage; ultimately resulting in higher parking charges. "We have a duty of care to ensure our private estates are safe, well managed and maintained. Unfortunately, we will not have council tax funds to tap into when this particular car park needs resurfacing. "60p per hour is a very low tariff and M&S reimburses shoppers anyhow. For those shopping elsewhere in Hexham in need of a well maintained and centrally located car park, the cashless payment system really is very easy to use.” Read More

Adderstone Group Investments

8 Investments

Adderstone Group has made 8 investments. Their latest investment was in OpenWorks Engineering as part of their Corporate Minority on May 5, 2019.

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Adderstone Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/13/2019

Corporate Minority

OpenWorks Engineering

Yes

1

Other Investors

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0

Other Investors

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0

Other Investors

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0

Other Investors

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0

Date

5/13/2019

Round

Corporate Minority

Other Investors

Other Investors

Other Investors

Other Investors

Company

OpenWorks Engineering

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Amount

New?

Yes

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Co-Investors

Sources

1

0

0

0

0

Adderstone Group Acquisitions

1 Acquisition

Adderstone Group acquired 1 company. Their latest acquisition was Turbo Power Systems on March 31, 2017.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/31/2017

$99M

Management Buyout

1

Date

3/31/2017

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Management Buyout

Sources

1

Adderstone Group Partners & Customers

2 Partners and customers

Adderstone Group has 2 strategic partners and customers. Adderstone Group recently partnered with Bartoline on May 5, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

5/10/2022

Partner

United Kingdom

Adderstone Group signs deal with Bartoline Limited - Adderstone Group

Adderstone Group signs deal with Bartoline Limited .

1

1/16/2017

Client

United States

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10

Date

5/10/2022

1/16/2017

Type

Partner

Client

Business Partner

Country

United Kingdom

United States

News Snippet

Adderstone Group signs deal with Bartoline Limited - Adderstone Group

Adderstone Group signs deal with Bartoline Limited .

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Sources

1

10

Adderstone Group Team

1 Team Member

Adderstone Group has 1 team member, including current Founder, Chief Executive Officer, Ian Baggett.

Name

Work History

Title

Status

Ian Baggett

Founder, Chief Executive Officer

Current

Name

Ian Baggett

Work History

Title

Founder, Chief Executive Officer

Status

Current

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