Manufacturer of bags for beans Bazaar Group has expanded European expansion plans with the launch of a base in Germany, amid a seven-figure financial deal.
Company Northumberland received a debt financing package from HSBCthat will pave the way for European expansion and support its ambitious growth strategy. The deal came just over a year after the company secured an investment from Comhar Capital of Leeds as part of a £ 10 million deal to support the first phase of its international growth plans.
The upholstered furniture firm operates from Cramlington, steadily growing sales of its bags, thanks to the fact that it is a leader on major e-commerce platforms including Amazon, eBay and Wayfair. Seven years ago, it moved to its third production and commercial premises, 17 times larger than the original 42,000 square feet.
Since CEO Mark Dolder received a majority investment from Comhar Capital last January, the partnership has put in place a plan that includes an aggressive European enlargement project. The company has signed a long lease agreement for a production and distribution center in Hamburg, Germany, which will focus on meeting growing demand from a growing number of customers in Europe.
The 35,000-square-foot unit will serve as an execution operation that will allow the company to access a market of 165 million people over a 48-hour delivery window.
The North Tyneside software business has raised £ 3.1 million into new capital to intensify the development of its workplace safety platform.
Message technology was founded five years ago by Duncan Davis and Andy Dumbel to create an online platform that enables businesses to improve health, safety and well-being in the workplace.
The company has now completed its latest round of financing under Calculus Capital, which has invested £ 1.85 million together with the Northeast Venture Fund (NEVF), which is supported by the European Regional Development Fund and managed by Mercia, and private investors in one of the largest recent investments in VCT in the northeast.
The company from Wallsend will use these funds to accelerate investment in sales and marketing, as well as to develop products to enable artificial intelligence on the Notify platform. It will also make additions to help Notify customers meet growing ESG reporting requirements.
The Cobalt Business Exchange-based company has created a software platform for mobile devices so customers can enhance their culture of security, well-being and resilience and compliance. Customers include Travis Perkins, Siemens Mobility, Birmingham City University and Cazoo, and there are users in more than 100 countries.
Profitable investors, Calculus Capital and Gavin Disney-May, will also join the Notify board, which will bring valuable experience in the sector. The funding round marks the third investment involving Mercia, which will take place two years after it received £ 370,000 from the North East Venture Fund, which is managed by Mercia.
Tyneside has teamed up with a competitor from West Yorkshire create an expanded national staffing and consulting firm.
Tech Search Associates, based in Leeds, and Brownley Deanbased in Newcastle, has joined forces to create Brownlee Cale, a strategic partnership aimed at improving results for customers.
The newly established business plans to increase its well-established consulting services, as well as increase turnover in the coming years. The company currently has 22 employees in three offices in Leeds, Birmingham and Newcastle, and is headed by directors Richard Dobson and Peter Walker.
The leaders of the companies stated that they decided to unite after realizing the common values and potential for growth and further success.
Mr Dobson said: “We have merged businesses because we believe the recruitment industry needs to improve. We share the same belief that commission-motivated recruiters are encouraged to put short-term profits before sustainable recruitment.
“The merger has been a fantastic experience and an opportunity for us to change our overall business model, which has allowed us to deliver solutions for people for some of the largest projects in Europe.
Manufacturer of radiators Stelrad announced £ 24 millionl Acquire a European competitor just over six months after listing on the stock exchange.
The company, headquartered in Newcastle and main production facilities in South Yorkshire, has agreed to acquire Italian firm DL Radiators for 28.3 million euros.
DL manufactures and sells radiators in the Italian heating market and employs about 350 people at its site in Moimaco, near Udine. It generated revenue of € 86.9 million (around £ 75 million) and normalized EBITDA of € 5 million (£ 4.3 million) in 2021 with gross assets of € 62.9 million (£ 54 million).
Stelrad, which also has sites in the Netherlands and Turkey, said the deal would expand the range of radiators available for its sales and distribution network, and expand market access.
He said the cash deal will be funded from existing facilities, and the acquisition is expected to increase profits in the current fiscal year.
The DL Radiators management will continue to run Italian business under the supervision of Stelrad.