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Middleton Enterprises doubles stake in Newcastle energy firm Utilitywise

North East investment company Middleton Enterprises has acquired over £3.6m of additional stock in Newcastle-based Utilitywise, more than doubling its stake in the growing energy firm

The business, led by high profile businessman Jeremy Middleton, has taken his initial £4m holding in the Tyneside-based energy cost management firm, to in excess of £9m, as part of a strategic investment programme.

Following an investment of £1m of shares in May, a further £2.6m of stock has now been acquired, taking Mr Middleton’s interest in the firm to 4.29%, up from 2.48% a year ago.

The latest acquisition of stock takes Mr Middleton’s holding to 3,287,559 ordinary shares in Utilitywise. In 2013, Mr Middleton was appointed to the post of non executive director of Utilitywise.

Mr Middleton said: “This is a significant investment for Middleton Enterprises as part of our strategy to support North East companies with strong potential.

“Utilitywise is a great company, with excellent growth prospects, increasing employment and a strong management team. Our latest investment shows how firmly we believe in Utilitywise and reflects my own desire to be actively involved in the company’s future development.”

Paul Woolston, Chairman of Middleton Enterprises, said: “Middleton Enterprises believes in backing business in the North East and Utilitywise is already a great success story for the region.

“We are very proud to be associated with the firm and look forward to enhancing that relationship as we continue to support the business through this continued investment.”

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