Northeast offers of the week: investments, financing and acquisitions

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Ethical data pioneer CitizenMe, which offers an alternative to ad tracking techniques used by Facebook and Google, has announced plans to create new jobs with an investment of £ 1.5million.

Citizen Me secured funding from the North East Venture Fund (NEVF), backed by the European Regional Development Fund and managed by Mercia, alongside support from 1818 Venture Capital and private investors.

The company is now poised to strengthen its global presence and expand its team of data scientists in Newcastle, where it recently opened a new office.

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Founder StJohn Deakins said, “CitizenMe empowers people and brands to co-create better digital products and services. We are delighted that Mercia and 1818 share our belief in a sustainable digital future and our lead in the new Zero Data category. “

Government ownership UK infrastructure bank confirmed a £ 107million investment in the development of South Bank Quay, which will directly support around 800 jobs directly, with the potential to create thousands more at the site.

The public policy bank was launched in June 2021 and has an initial £ 12bn to deploy, as well as £ 10bn in government guarantees.



An aerial view showing how South Bank Quay will be transformed

The cash injection will transform part of the former Redcar Steelworks site along the River Tees, leading to the creation of a 450-meter quay for the offshore wind sector, providing opportunities for manufacturing, storage and mobilization of wind technology.

Chancellor Rishi Sunak said: “It’s great to see that the UK Infrastructure Bank is already making deals and helping to deliver on our commitment to level up and reach net zero. “

County Durham Tech Company Kromek won a $ 17 million contract from a US manufacturer with customers around the world.



Dr Arnab Basu, Managing Director of Kromek
Dr Arnab Basu, Managing Director of Kromek

NETPark-based radiation detection specialist Sedgefield will provide its detection capabilities to the US company on a seven-year contract, starting this fiscal year.

The contract was awarded following the successful completion of a development program announced in November 2020.

Dr Arnab Basu, Managing Director of Kromek, said: “We are delighted with the success of our collaboration with our client who has global operations and a substantial market share in this sector.

“Our customer is committed to introducing the best solutions into their next generation products to ensure that we can live healthier and safer lives. We plan to develop other products for this customer to support his ambitions.

North East Consulting Engineering Firm TGA Consulting Engineers is poised to grow and create new jobs after securing a six-figure investment from the North East Growth Capital Fund Loan Fund.



TGA Investment: (front) Jane Siddle of NEL Fund Managers with TGA Director Graeme Carr and (front, from left) fellow TGA Directors Steve Olley, Jason Jobes and Scott Graham.
TGA Investment: (front) Jane Siddle of NEL Fund Managers with TGA Director Graeme Carr and (front, from left) fellow TGA Directors Steve Olley, Jason Jobes and Scott Graham.

The Durham-based company designs mechanical and electrical services for a wide variety of new and existing buildings, and has particular expertise in using low-carbon technologies and techniques to improve the environmental performance of buildings.

The company, which celebrates its 60th anniversary next year, has been involved in flagship projects ranging from Hexham Abbey, the British Museum and Durham Cathedral to the Hitachi Rail manufacturing plant. to Newton Aycliffe.

After working with regional fund management firm NEL Fund Managers to secure the £ 250,000 investment through the Coronavirus Business Interruption Loan program, TGA now aims to expand its presence in Yorkshire, the northwest and southeast.

Six new jobs have already been created by the company this year, bringing the total workforce beyond the 40 mark, and more are expected to follow.

Wakefield-based 365 Response, a provider of digital transportation management and e-procurement software, acquired transportation technology solutions company Redcar Flexiroute after obtaining follow-up funding from its founders and growth capital investor, BGF.



Brendan Fatchett, CEO of 365 Response
Brendan Fatchett, CEO of 365 Response

The funding comes a year after BGF made an initial £ 3million investment in 365 Response, and brings together the UK’s leading home-to-school and NHS transport software providers.

Brendan Fatchett, CEO of 365 Response, said the acquisition will drive rapid improvements through the combination of enterprise technologies, which will benefit the more than 200 public and private sectors and the private transportation organizations they work with.

Tyneside technology company DCS was acquired by IT leader Babble, as part of its strategy to build a UK-wide business with local talent.

London-based tech group Babble announced the acquisition of two Newcastle-based companies Digital Communications Systems Ltd (DCS) and the Scottish company Halo Communications Ltd.

DCS, based in Newcastle, has been a leader in providing networked managed services since 1992.

Brendan Mulvenna, CEO of DCS, said: “I am delighted with the position DCS has held since its inception in 1992. The acquisition by Babble is an exciting next step for the company and I look forward to playing. my role in Babble’s ambitious project. plans to be a leading player in the North East.

by Tyneside HLA Services got a job with food company Service Select Partners worth £ 1million.



Paul Smith and Neil Henry of HTA Services
Paul Smith and Neil Henry of HLA Services

The Boldon-based company, which also has bases in Leeds, Carlisle and Middlesbrough, provides services such as refrigeration, air conditioning, heating and water hygiene to companies in the UK.

Now he has secured new orders and additional sales under existing contracts from food travel specialists Service Select Partners (SSP) worth £ 1million.

HLA Services, which has over 100 employees in its four bases, provides full mechanical services through a range of SSP units in the UK.

Stockton Archers Law LLP was acquired by Knights, a fast growing legal and professional services firm with offices across the country, in a £ 5.2million deal.



teaser, The Law of Archers
The law of archers has been acquired

The site will be the first Knights office in the Northeast.

Knights said the deal was in line with its strategy to “accelerate organic growth through carefully targeted acquisitions that correspond to a strong cultural fit.”

The deal will see Archers’ four financial partners share a possible £ 5.2million. In an announcement on the Exchange, Knights said the deal would consist of £ 2.1million in cash and £ 1.6million in Knights shares, followed by £ 1.5million of installments paid over the next three years. The deal is expected to be finalized on November 26.

Chris Todd, Partner at Archers, said: “After more than a century of growing to be one of Teesside’s premier law firms, we are delighted to join Knights, whose culture is closely linked to our own. We look forward to seizing significant growth opportunities in the North East as part of a larger group, which will allow us to offer more resources and capabilities to our clients in the region and beyond.



Osbit engineering firm
Osbit engineering firm

Best Engineering Company Osbit was acquired to help found a new group seeking to invest hundreds of millions of pounds in the wind energy sector.

The deal for the Sheffield Venterra company to buy Northumberland-based offshore engineering firm Osbit will see job creation at the company’s Riding Mill and Blyth sites.

Osbit, which employs more than 120 people after significant growth in recent years, says its acquisition will trigger a “campaign of accelerated growth to significantly increase its workforce in the North East of England, with a range of highly skilled positions.” .

It is one of three companies to be bought by Venterra Group, which was formed by former Petrofac International Managing Director Ayman Asfari with a mission to invest £ 250million in the life cycle of the parks. offshore wind turbines by the middle of next year.


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