Teesside educational trust seeks new trustees
BUSINESS BITES
NEWS
FW Capital visited Paralloy after its seven-figure investment. Pictured are( from left), FW Capital’ s Joanne Whitfield, Paralloy’ s Robert McGowan, FW Capital’ s Alex Gent, Paralloy’ s Michael Dolan and Middlesbrough councillor John Kabuye.
Paralloy secures seven-figure investment to accelerate growth
The Teesside Flexible Investment Fund has completed its first investment since the launch of the £ 20m fund last year, demonstrating how it is helping Teesside businesses to grow and providing a major boost to the local economy.
Teesside stainless steel alloy specialist and manufacturer Paralloy Group has received a seven-figure loan from the Teesside Flexible Investment Fund, which is managed by FW Capital with investment from the Teesside Pension Fund.
The investment has helped Paralloy with their next stage of growth, facilitating activities that will generate new jobs locally and have a significant impact on the Teesside economy, while meeting the increased demands from industrial markets and advances in new technologies.
Paralloy CEO Robert McGowan said:“ Paralloy is proud to be based in Teesside, employing local people and showcasing our local capabilities alongside our global presence.
A dynamic and growing multi-academy education trust is seeking strategic, forwardthinking professionals from local business and industry to join its board of trustees.
Teesside’ s Atomix Educational Trust is particularly interested in individuals with expertise in law, finance, engineering or other specialist sectors outside of education. The new trustees’ experience and insight from industry will bring valuable perspective to the trust’ s governance and help shape the future of the organisation and the communities it serves.
These select positions offer the chance to shape educational provision across the trust, working alongside its leadership team to drive quality and innovation.
The professional insight of trustees directly influence strategic decision-making
“ We’ re committed to driving economic growth and this is why we are working with FW Capital and the Teesside Flexible Investment Fund.
“ The North-East is making a solid claim as a key player in the UK’ s energy transition and we’ re well positioned to support the next generation of industry and the fuels of the future.”
Joanne Whitfield, fund manager at FW Capital, said:“ It’ s fantastic to complete the first deal under the Teesside Flexible Investment Fund.
“ Helping local businesses make a real economic impact in Teesside is the reason we launched the fund and Paralloy is a great example of how the finance can help firms to scale up, bringing new opportunities and jobs to the area.”
Advisors on the deal were Richard Butts and Imogen Holland from Ward Hadaway and Dahren Naidoo from Freeths.
Read more about Paralloy on pages 58-59.
Teesside educational trust seeks new trustees
and contribute to educational outcomes for thousands of students across the region.
To discuss this opportunity further contact Nicola Pemberton at nicola. pemberton @ atomix. ac. uk
Leadership – the Atomix Educational Trust central executive team( from left) director of quality and curriculum Dr Sharon Dobson- Waters, director of business development Dr Noel Dennis, chief executive officer Dr Nichole Munro, director of operations Michael Duffey and chief financial officer Laura Parker.
BUSINESS BITES
INVESTMENT BOOST A transformative package of proposals to create 2,000 skilled jobs, regenerate key town centre sites and help Tees Valley become a global powerhouse in digital and creative industries has been agreed.
The region was selected as the location for an Investment Zone in 2023 and has now been allocated the first £ 80m of an overall £ 160m investment.
The zone will increase inward investment, productivity and jobs in digital, creative and technology sectors, while supporting the growth of world-leading companies in two cluster areas of Middlesbrough and Hartlepool.
STUDENT ACCOMMODATION Ashbrookes has secured planning permission and development finance to convert the former Linthorpe Assembly Rooms in Middlesbrough into high-quality student and residential apartments, revitalising a much-loved local landmark.
The scheme, which is supported by funding from the Momentum Finance Group, will see the early 20th-century building in Linthorpe Road transformed into 16 spacious apartments, each measuring at least 37 sq m, almost double the size of typical student studios in the town.
HONKY TONK GUISBOROUGH Guisborough has officially received a boot scootin’ makeover with the opening of HonkyTonk’ s Guisborough, bringing its signature Nashville-inspired country party to the heart of the town.
Building on the success of HonkyTonk’ s Middlesbrough, the new Guisborough venue is already welcoming crowds, offering a lively lineup of live music, line dancing, themed events and an electric atmosphere unlike anywhere else in the region.
TRANS-PENNINE FREIGHT SERVICE LAUNCHED A Darlington-based company is driving forward its expansion strategy after receiving a six-figure investment from a fund managed by FW Capital.
The investment, secured by business advisors and accountants Armstrong Watson, has supported the initial and ongoing growth of Prudhoe Rosettes and Trophies post-acquisition, which includes a refresh of the company branding and marketing.
The investment came from NPIF II – FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II( NPIF II).
The voice of business in the Tees region | 133