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commentshave your say!Business365 offers a view on a topicor issue of the day. You can also logonto our dedicated website andexpress your opinion.Education report must be a turning pointWhat’s become clear in recent daysis just how toxic the relationshipsbetween the Department ofEducation, Sport and Culture and the Island’sschools now is.The problems date back well beyond the tenureof current Minister, Dr Alex Allinson, who nowhas the unenviable task of restoring trust andnurturing a new working relationship with theteaching unions.The independent report that has been producedby consultants Beaman’s, at the behest of theChief Minister, is – in the words of HowardQuayle – ‘not a nice read.’The poisonousatmosphere wassummed by succinctlyin the report’sexecutive summary.It paints a picture of two sides in entrenchedpositions, and a teaching profession thatfeels undervalued and demoralised by theGovernment Department that administers theIsland’s education system.The poisonous atmosphere was summed upsuccinctly in the report’s executive summary,which states: Culture is probably the most difficultmanagerial issue and yet, in many ways it isoften the most important determinant of whetheran organisation succeeds or not. We notedthat interactions between the department andschools particularly at senior levels are: Formalised through meetings (with each partydoubting their value) Collaboration is variable and, in someinstances, non-existent. There are no key common values Critical behaviours seem to predominate overcollaboration and supportive behaviours Each party highlights instances of what theyconsider to be inappropriate behavioursIn short, there has been, and continues to be, along-standing battle of wills particularly betweenthe department and secondary school teachersas to ‘who’s in charge’. For too long the mindset ofsenior departmental staff and secondary schoolheadteachers has been focused on levels ofautonomy and control when both parties shouldhave been working together to agree how theirrespective roles should complement and supportone another, and not how one party shouldexercise control over the other. In our view, thisissue is the root cause of the cracked relationshipbetween the department and schools which webelieve is fractured and must be repaired.That the relationship between the Departmentand the people at the coal face of the Island’seducation service has been allowed todeteriorate to such a degree is worrying andperplexing, particularly at a time when youngpeople face huge external pressures broughton by the Coronavirus pandemic. More thanever they need their teachers and the statutoryeducation authority to be working in harmony tobest serve their interests.The Beaman’s report suggests theestablishment of a Manx Education Board,which would be responsible for delivery of allprimary and secondary education – what itcalls a schools led system, not one led by thedepartment. Other governing boards wouldbe accountable to the Manx Education Board,which in turn, would be accountable to theMinister.It sounds remarkably similar to the system thatwas abandoned by Tynwald many years ago.The Beaman’s report contains many detailedrecommendations and is a comprehensivedocument. It offers a possible framework throughwhich the Island’s broken system can be repaired.But it can only work if all sides are prepared toset aside their hostility and start with a new blankpiece of paper. Our children’s education is tooimportant to be sacrificed on the altar of politicalarrogance and self-righteous indignation.ADVERTISINGEDITORIALSales: Sarah AshallEditor: Simon RichardsonT: 01624 696556T: 01624 696590E: sarahashall@mannin-group.imE: simonrichardson@mannin-group.imBusiness365iomThe Business365 team is mainly working from home now because of theCoronavirus epidemic, but we will be keeping readers updated on news andinformation via our website at www.business365iom.co.uk

A comprehensive round-up of the latest business news covering all sectors withinthe Isle of Man’s diverse and dynamic business environment.STRIX ACQUIRES LAICA TO ENHANCEITS POSITION IN THE WATER MARKETStrix Group Plc, the Isle of Man-based leader in the design,manufacture and supply of kettle safety controls, has enteredinto a conditional agreement to acquire the entire share capitalof Italian water purification business LAICA for approximately 19.6m, in a deal led by Zeus Capital.This is the first acquisition that Strixhas made since listing on the LondonStock Exchange’s AIM market in 2017,and represents the firm’s first cross bordertransaction.Following completion, the acquisition willexpand Strix’s water category, enhance itspresence in the health and wellness market andenable Strix to capitalise on the double-digitgrowth of global sales (in 2019) for both thesmall domestic appliance and water markets,driven by increased consumer demand.LAICA is an Italian company focussed on thesale of small household appliances for personalhealth and wellness. In the 12 months ending31 December 2019, LAICA generated revenueof 20.4m, Adjusted EBITDA of 2.9m andAdjusted Profit Before Tax of 2.6m.Similarly to Strix, LAICA has shown strongresilience against the adverse headwindscreated by the global pandemic and has seensignificant demand for its products given itsfocus on health and wellness markets. Strixexpects that LAICA’s strong track record oforganic growth and cash generation willcontinue.LAICA has a considerable global presence, anestablished product range and an advancednew product roadmap. The acquisition willalso provide some consolidation of the watertreatment range, driving efficiencies andproviding a comprehensive portfolio of productsfor Strix Group Plc.The acquisition is expected to be up to midsingle digit earnings enhancing, in the first fullyear of ownership, before the benefit of anysynergies.Mark Bartlett, CEO of Strix Group Plc, toldB365: “We are very pleased to enter into thisagreement to acquire LAICA, which will be ourlargest acquisition to date. LAICA continuesour strategy of growing our small domesticappliance (SDA) and water categories whichsupport Strix’s core competencies. We areacquiring LAICA, which has a long-establishedtrack record of supplying high quality products,at a time when it is well-positioned to exploita range of growth opportunities. We lookforward to welcoming the business and all itsemployees to Strix.”A team at Zeus Capital comprising JordanWarburton, Nick Cowles and Matt Hogg actedas nominated adviser and joint broker on thetransaction.Jordan Warburton, Director of CorporateFinance at Zeus Capital, added: “It hasbeen a pleasure advising Strix on its firstmajor acquisition, which further strengthensits position in the Water market. Zeus hassupported Strix over the past twelve monthsto navigate through the complexities of across border deal during the time of a globalpandemic. We wish Strix and LAICA everysuccess for the future.” 5

T H E R AF LOATNEURO SPATogether, wecan help yourbrain realiseits dreams.Famously, it was thought that one of the reasons the RomanEmpire collapsed was because they were slowly driven mad by thepresence of the new lead-lining in their pipes and waterways.AWe take a multidisciplinary systems-based approach to identify preciselywhat you need so that the therapy you receive is completely individual toyou.Our brains evolved to communicate with language approximately 1,400generations ago. Computer technology has completely and radicallyrevolutionised every aspect of our lives only within the previous twogenerations. Put simply, this change has been too fast to developthe neurological mechanisms or habits for us to adapt in a healthy orsustainable way.We consult and treat in beautiful, calming and private surroundings in thecentre of Douglas and only ever see one person at a time so that yourconfidentiality is completely assured. Naturally, we use hospital-gradepolicies and procedures to guard against Covid-19.t the time, this represented the very apex of human technology,however, there is a similar, and growing, technologically-drivenpublic health crisis in our lives threatening to break out into a fullblown epidemic.The resulting demands from twenty-four hour work and home environmentshave affected our sleep, diet, mood, energy levels, focus, creativity andeven our interpersonal relationships. Most of us have adapted to a newnormal of feeling overwhelmed or anxious or tired without being able toidentify exactly why. In fact, recent studies have shown that most people arenot even aware that their brain function is sub-optimal on a daily basis letalone where they could go for help to correct this.When was the last time you weretruly firing on all cylinders?People have been encouraged to spend ever-increasing resources tomedicate themselves with fast food, alcohol, prescription drugs or socialmedia in order to cope. All available at the click of a button through everfaster phones or tablets and all making the problem worse.More pipes, more lead.Are you able to remember the last time that you were truly firing on allcylinders? What difference would it make to your life if you were able to feellike that every day? How much better would you perform at work? Whatmore could you accomplish in your private time? How would it affect thequality of time that you spent with your loved ones?All our treatments are naturally derived, non-invasive, gentle, safe andclinically proven and suitable for virtually anybody.Currently, Therafloat uses science to deliver the proven benefits ofmeditation to your brain by utilising dry-float technology in which you aresuspended and enveloped in three hundred litres of water warmed to yourbody temperature.This works in a similar way to a sensory deprivation tank in freeing youfrom muscular tension and stress and encouraging your brainwaves toswitch to a meditative and more powerful, efficient, creative and restorative“Theta state”. Unlike a wet-floatation tank, however, you are separatedfrom the water by a thin membrane which means that the therapy can bedelivered without the need to get wet or even to remove clothes. Thissetting is convenient enough to fit into your workday or family day and theresulting benefits in concentration, energy and focus thereafter have beenwell documented in some of the highest quality research trials produced.Elite athletes such as Carl Lewis, arguably the greatest Olympian of all time,have regularly used floatation technology to improve their performance andspeed recovery from injury.Our aim is to extend this neuroscience technology to help as many peopleas we can. Without drugs. Or side effects. Or the costs of using failedexpensive treatments targeted at the wrong area.Therafloat is a unique neuroscience-based health startup located in the Isleof Man and, soon, in the rest of the UK.For example, one of our recent consultations involved a UK HospitalConsultant who was struggling with low energy levels. This was affectingher performance at work and the quality of interactions with her partner andchildren, which, in turn, was negatively affecting her mood. Since medicalinvestigations had failed to show any signs of disease, no treatment wasavailable to her and therefore her problems continued to compound andworsen.At Therafloat, we believe in using the latest research and cutting-edgetechnology to restore, enhance and boost your mental health, ratherthan detract from it, in order to optimise your cognitive performance,supercharge your mood, boost your energy and free your true potential.After completing a comprehensive consultation with us, we were able todetermine that her low energy levels were primarily due to poor sleepquality which itself had been impacted by the production of a specifichormone produced within the brain.If you are interested in finding out, Therafloat could help you find the answer.6

FLOATATION BED“Therafloat uses science to deliver the provenbenefits of meditation to your brain by utilisingdry-float technology in which you are suspendedand enveloped in three hundred litres of waterwarmed to your body temperature”Our aim was therefore to re-train her brain into producing the correctamount of hormone naturally.We designed a programme by which she received naturally-derivedsupplements on a daily basis and restructured the times at which she wasexercising. We also supplied a juice shot for each evening with naturallyhigh levels of the deficient hormone. We even changed the lenses in thesunglasses that she wore to drive to work. Within two days her sleep qualityhad greatly improved. Within four days her energy and mood levels hadalso seen a significant improvement.Result:- a more energised and productive (if somewhat baffled!) professionalwho was able to power through tasks at work yet returned home to spendmore quality time with her family. Her feedback was that “I just don’t get it. Ithas to be black magic. Got to be”.We firmly believe that there is no better investment you can make inyourself or somebody that you care about.Therafloat was founded in August 2020 on the Island by wife and husbandteam Amy and Kamran. They wanted to bring the latest techniques used inthe world’s best hospitals and neuroscience research labs to people whowouldn’t ordinarily access them.Before moving to the Island, Amy had completed a rotation asa neurology research nurse before running one of the busiestNeurosurgical units in the UK as a Neurosurgical Sister. She had earlierserved as a Combat Medical Technician in the British Armed Forcesbefore retiring with a significant back injury.Kamran completed his Master’s Degree at Churchill College, Universityof Cambridge in Neuroscience research examining how brains formedin various animal models. He then qualified as a Medical Doctor at theUniversity of Manchester before working as an Academic Registrar inNeurosurgery on call for the Greater Manchester region during which timehe completed his PhD in stroke research in which he is a multiply-publishedauthor in numerous clinical and neuroscience journals. Currently, he worksas a Specialist Doctor in Psychiatry at Nobles Hospital.Both founders believe a huge opportunity exists to improve access tothe latest Mental Health techniques so that, individually, people are ableto work at the very peak of their powers.Currently, the main barrier to this is one of culture and in switchingfrom a medical illness model of treating only the sickest in society to ahealthy preventative model in which everyone is able to carefully anddeliberately invest in themselves to improve their health, their lives, andthose of the people they love.THE WIFE AND HUSBAND TEAM OF THERAFLOAT, AMY AND KAMRAN.Therafloat has already been overwhelmed with the huge amountof interest and positivity shown in the startup and plans to takethe message to as many people as possible. If you feel that thisrevolutionary therapy could help you or someone that you know, or inorder arrange a meeting to explore things further, then please emailamy@therafloat.uk with your contact details now and we will return thecontact shortly. 7

Boston Multi Family Office announcesacquisition of IQEBoston Multi Family Office has announced theacquisition of the international fiduciary servicesbusiness IQE.The move is part of Boston’s long-term growth strategy in the fiduciary services market and is the firstacquisition made since the management buyout in October 2019.The new structure will see IQE staff transfer to Boston with IQE Directors David Karran, Moira McHarrie andAnne Couper Woods joining Katherine Ellis, Alex McNee and Sarah Ingrassia on the Boston board.Commenting on the deal, Boston CEO Katherine Ellis told B365: “It was clear that Boston and IQE sharedvery similar values and that the businesses were a very good strategic fit that would help drive our plans forthe future. As well as strengthening our expertise and broadening our client base, the acquisition will alsoenable us to offer additional services such as sponsoring securities for The International Stock Exchange.These will benefit our existing clients and provide a pathway to new markets and opportunities.”David Karran, IQE Managing DirectorIQE Managing Director David Karran added: “As a business, IQE has always operated under the guidingprinciples of integrity, quality and expertise, and we have a very similar ethical and customer-focusedapproach as Boston. It makes sense to join forces, combining knowledge and skills to provide ourinternationally diverse and entrepreneurial clients with a strong and resilient future, and an increased rangeof solutions to meet their evolving needs.”The acquisition is supported by a group of high net worth investors via Rockpool Investments LLP, theinvestor company behind the management buyout last year. Guy Ellis, Investment Director of Rockpool,said: “We are delighted with this development that marks another new chapter for Boston as it builds onthe strategic plan launched last year. We believe this will be the first of a number of select acquisitions thatwill see the Boston team continue to build their client focused approach in the market.”One of the Isle of Man’s highest profile trust and fiduciary businesses, Boston Multi Family Office wasfounded in 2002 as a single family office and was held privately until 2019. The company providesboutique administration services from offices in the Isle of Man, Malta, and the Dubai International FinancialCentre (DIFC). The company will remain headquartered in the Isle of Man with IQE staff relocating toBoston’s offices on Hill Street, Douglas.Katherine Ellis, Boston CEOThe acquisition is subject to regulatory approval.RAVENSCROFT COMPLETES ACQUISITIONOF WH IRELAND (IOM) LIMITEDRavenscroft’s acquisition of WH Ireland (IOM) Limited has been completed followingapproval from the Isle of Man Financial Services Authority.The acquisition by Ravenscroft Holdings Limited, the parent ofthe investment services company, of 100% of the issued sharecapital of WH Ireland (IOM) Limited means Ravenscroft now hasa presence in the Isle of Man for the first time with all six of WH Ireland’sstaff in the island moving across.‘Having an experienced and enthusiastic team on the ground, aswe now have in the Isle of Man, will be key to our success. Our newcolleagues share our commitment to client service and we are excitedabout growing our client base, expanding our offering and becomingpart of the local community,’ said Ravenscroft group managing directorMark Bousfield.‘We want to thank the Isle of Man Financial Services Authority for itsproactiveness. Their support and the positive response we have hadfrom clients and the wider business community has been very welcome.’With immediate effect, the company name will be Ravenscroft (IOM)Limited but will trade as Ravenscroft. The entire team, who will8 continue to be headed up by directors Will Corrin and David Bushe,will remain at St George’s Tower in Hope Street.‘Since the news was announced we have been working closelywith our new colleagues at Ravenscroft’s head office in Guernsey toensure that the service we provide our clients is unaffected. Our newcomputers and phone systems are

group credit committee, director of Barclays Bank Pension Fund Trustees, and chairman of Barclays Bank Egypt. He has also held several senior positions in the fi nancial services industry, including chairman of The Bankers Association for Finance and Trade (BAFT), chairman of CHAPS, a director of TheCityUK and chairman of its audit committee.