Deals of the week: Northeastern businesses win investments to support growth

northeast cabinet Handbag clinic creates new jobs after securing £ 800,000 investment.

A spin-off of the leather restoration company Furniture Clinic, the business was started by Charlotte Staerck and her husband Ben in 2013.

Now, an investment of £ 800,000 from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia, and private investors, will allow it to create around 20 new jobs at its premises in Burnopfield, county. of Durham. It will also further develop its technology and strengthen its management team.

Handbag Clinic restores around 700 bags each month and resells around 300, including luxury brands such as Hermès, Chanel, Louis Vuitton, Dior and Gucci.

Jan Oosthuizen and Thea Tebble of Mercia worked on the case.

Mr. Oosthuizen said: “With sustainability now a central concern for many consumers, the clothing resale market has experienced unprecedented growth in recent years. Handbag Clinic is one of the market leaders. This funding will allow Charlotte and the team to strengthen its position and take the company to the next stage of its development.

South Shields Company Ogel followed her success in the BBC’s Dragons’ Den program raising over £ 200,000 through crowdfunding.

Gary Giles with the Ogel Building System

The company converts plastic waste into material that can then be used to build anything from a garden office or shelter to a flood protection system.

The new investment comes from 730 investors in 40 different countries and will be used to bring production back to the North East as it expands its products into the garden and DIY markets.

Founder Gary Giles said, “We’re seated at over 700 investors, which means we’ve got a huge boost in bringing together like-minded people. We bring production to the North East. This is a major objective for Ogel since our company is headquartered here.

from Sunderland Haskel hydrogen systems is poised to grow after what has been described as a “significant” multi-million dollar investment by its US owners.

The company manufactures and distributes high pressure pumps, valves and packaging solutions for a large number of industries, and has received investments from Ingersoll Rand Inc to grow the business and fuel international expansion.

The investment will also help create new jobs in Sunderland. In particular, Haskel will use the investment to expand its global hydrogen refueling center, with the goal of tripling the site’s capacity by the end of next year.

Managing Director Stephen Learney said: “We are delighted to announce this investment from Ingersoll Rand, which demonstrates a commitment to further strengthen the development of our hydrogen refueling business, infrastructure, equipment and resources. human resources to meet the growing demand of the global market.

Veterinary company Dragon Veterinary Center was acquired by a national group as part of its expansion plans in the region.

Left to right: Mark Adams and Ben Jackson of the Hay & Kilner law firm with Andrew Henfrey of the Dragon Veterinary Center.
Left to right: Mark Adams and Ben Jackson of the Hay & Kilner law firm with Andrew Henfrey of the Dragon Veterinary Center.

Medivet Group purchased the Concord, Wash., Center from owners Andrew and Julie Henfrey for an undisclosed amount and is now considering making a number of other acquisitions in the area.

Medivet Group has strengthened its presence in the north of England and already has offices in places such as York, Harrogate, Knaresborough, Ripon and Thirsk.

Ben Hanning, Director of Acquisitions at Medivet Group, said: “The North East is a priority area for us as we continue to build to become a true national operator and we are very happy to have made such a practice as well. appreciated our first acquisition in the region.

Mark Adams and Ben Jackson of the corporate team at Hay and Kilner law firm in Newcastle provided legal advice to the Henfrey on the transaction.

northeast cabinet Project control tools has secured £ 300,000 in funding as it moves to County Durham and looks to expand.

The company has received an investment of £ 185,000 from the Finance Durham Fund, along with other funding, which will enable it to invest in its in-house product development to grow its portfolio and improve its sales and marketing function.

The company provides software solutions to improve project delivery and profitability, primarily for the rail and construction industries. Its technology helps project management teams streamline daily tasks by saving time and reducing project expenses.

Peter Smith, Investment Partner at Maven, said: “This is a great opportunity for Finance Durham Fund to provide a growing software company with a relocation package to join County Durham’s burgeoning tech space. “

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