4 | Aycliffe Today Business
BUSINESS BRIEFS
EBAC ’ S RECRUITMENT DRIVE
Ebac is to embark on a recruitment drive that will support the development of its washing machine division .
The Aycliffe-based manufacturer became the first company in more than two decades to bring back the manufacture of British made washing machines last year , and is to create four new graduate roles within its sales and marketing department .
The County Durham-based company invested £ 7m in the development of the venture , with the new models comprising revolutionary dual fill technology , as an alternative to traditional cold fill machines , which will lower energy bills through shorter wash times .
NEW CRAFT BOSS
A multi-tasking mum with over a decade of retail experience has been selected by Crafter ’ s Companion to head up its flagship Newton Aycliffe store .
Amy Rodger , 28 , from Chester-Le-Street joins the leading international craft company as store manager with a strong merchandising background , having climbed the retail ladder from Saturday girl to management whilst raising her son , Ellis .
In charge of overseeing the day-to-day running of the store and staff training , Amy will also spearhead the store ’ s popular monthly craft classes and demonstrations – as well as arranging and managing the smooth running of regular coach trips and craft group visits to the Newton Aycliffe store .
A-TECH ’ S NEW KIT
A family-run engineering firm has designed robotic equipment it says has the potential to double turnover and deliver European expansion .
A-Tech believes its next generation automated guided vehicle ( AGV ) will bolster revenues and strengthen its standing in Poland .
The business , based on the business park , says the AGV , referred to as a tow truck , has already piqued automotive suppliers ’ interest , since it allows workers to stay in production areas and removes the need for staff to manually move parts , thus improving plant efficiency .
BALTIC ’ S ACCREDITATION
Newton Aycliffe-based Baltic Training has become the first independent training provider in the UK to gain accreditation to the Institute of Customer Service ( IOCS ).
The move follows recognition of the firm ’ s commitment to boosting customer service by the leading independent , professional membership body .
It comes after Baltic , which provides IT and digital training services , completed a ten-month long drive to improve customer service levels for national companies as well as the young apprentices it helps into the workplace through personalised development programmes .
Leader of Durham County Council Cllr Simon Henig with Bill Kennedy ( right ) and Michael Vassallo ( second left ) of Maven Capital Partners and Business Durham MD Simon Goon ( left ) at Salvus House in Durham .
Fund manager announced for £ 20m Durham investment programme
Durham County Council has announced its new funding partner for a £ 20m investment programme which will help businesses in County Durham grow and create thousands of jobs .
As reported by Aycliffe Today last June , the Finance Durham LP fund will support up to 70 companies in the county in its first ten years with investments ranging from £ 10,000 to hundreds of thousands of pounds .
The stand-alone investment fund has now appointed a manager , Maven Capital Partners , and will be open for business in the next couple of months .
Durham County Council already has a proven finance innovation track record having invested in the Durham City-based Atom bank .
Although authorities have created their own investment vehicles in other parts of the UK , it will be the first of its type in the North East .
Councillor Simon Henig , leader of Durham County Council , said : “ We ’ re seeing more and more firms locate , start up and grow here in County Durham .
“ This £ 20m to support those businesses as they scale up , create jobs and add economic prosperity to the county , will be a major boost and testament to our commitment to help County Durham ’ s economy grow .
“ They will be investments to yield a return , so we expect to see the £ 20m grow to help even more businesses in the future . It ’ s very pioneering for a local authority to do this and we ’ re very proud to be able to offer support in such an innovative and direct way .”
Business Durham , the economic development company for County Durham , working on behalf of Durham County Council , came up with the idea to help create a more sustainable approach to helping businesses to grow .
Simon Goon , managing director of Business Durham , said : “ I honestly think that in five years time we will look back and see this as a transformative time for Durham . No other local authority is doing this to the extent that we ’ re doing .
“ Access to finance has historically been a real issue for businesses in the North East , and while funds like JEREMIE have done a lot to redress that , more can be done . With Business Durham ’ s support , we can add our expertise and offer a sustainable financial vehicle that really adds value to the economy .”
Maven has been one of the UK ’ s most active SME investors since 2009 , on behalf of a range of client funds .
Last month it was appointed to manage the £ 57.5m NPIF Maven Equity Finance fund , part of the Northern Powerhouse Investment Fund , which will provide equity funding to high potential businesses , including SMEs , across the North West of England as well as the North East and Yorkshire .
Bill Kennedy of Maven said : “ By working alongside the existing regional business support community , in particular Finance Durham , we expect to raise awareness of the financial options available to dynamic , high-growth SMEs across the whole of the county .
“ Alongside providing substantial financial support to suitable SMEs , Maven will work closely with supported businesses to drive value creation and improve operational performance throughout the life of an investment , without interfering on the day-today running of a business .
“ We believe that by working in partnership with County Durham SMEs we can help achieve the long term growth objectives of Durham County Council .”
The fund has been designed to link with other investors , such as the JEREMIE 2 fund , and investments will be spread out across all sectors and sizes of business , designed to give a mixed risk portfolio .
Funding will range between £ 200,000 to £ 700,000 , with10 % of the fund being smaller investments , between £ 10,000 and £ 40,000 , for incubation businesses .
Businesses need to be based in County Durham or be relocating to the region when the investment is made .