Member Article

Newcastle's Activ Technology targets North West and Cumbria with £500k investment

Newcastle-based Activ Technology has landed a £500k investment to scale up its team and operations.

Securing funding from FW Capital, the provider of mobile, communications and IT services has revealed plans to recruit 16 new members of staff as it targets expansion beyond the region into the North West and Cumbria.

Ian Gillespie, Managing Director at Activ Technology, commented: “The funding comes at a positive time for the business and will play a key role in our future growth plans.”

Newcastle law firm Muckle LLP and business advisers UNW advised Activ on the transaction.

Kevin Maloney, partner in the banking team at Muckle, said: “We’re pleased to have advised Activ Technology on the completion of this deal which will support its future expansion.

“We knew the transaction had to be completed promptly and by working closely with Activ, UNW and FW Capital we were able to finalise the legal documentation on time for our client.”

John Healey, corporate finance partner at UNW, added: “It is great that there are local funds that are focused on delivering growth capital to ambitious North Eastern businesses.

“It was a pleasure to work with Ian and FW Capital to help Activ secure funding for the next stage of its growth.”

Michael Vassallo, senior investment partner at FW Capital, said: “Activ is an exciting high growth business which matches our funding ambitions.

“The deal process went very smoothly as management have an excellent grasp of their business and financials and we were supported by top quality local advisors.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →