North East firm Ford Aerospace has been acquired by a US group which has pledged new jobs and investment at the South Tyneside manufacturer.
The South Shields business has been snapped up by SPIROL, a family-owned manufacturing group headquartered in Connecticut, following 30 years of collaboration between the two companies. The value of the deal has not been disclosed. Ford Aerospace was founded at Tyne Dock in 1910 by Robert Ford, and the family business has most recently been led by the founder’s great-grandson, Chris Ford. The company, which has 76 staff, specialises in manufacturing high precision metal components and sub-assemblies for the aerospace, industrial, and high-technology sectors.
Mr Ford will step down as managing director as part of the deal, but will remain as a consultant for the immediate future. SPIROL is a successful family-owned company with a history also closely tied to aviation development. He said: “Ford Aerospace is, and always has been, here for the people, especially our dedicated and skilled team, and it was important that any new Ford Aerospace owner share the values that have been at the heart of the company for over 100 years.
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"Our two companies have a long history of working together, dating back to 1980 where SPIROL licensed a specialized manufacturing process from Ford Aerospace, which is still in use today. SPIROL and Ford’s approach to our employees and our customers align wonderfully, and I am excited to see our strong business carry on as part of the successful SPIROL group.”
North Tyneside healthcare training provider Breeze Academy is set to scale up after securing a five-figure investment from the North East Small Loan Fund.
Breeze Academy offers CPD (Continuing Professional Development) training for healthcare professionals in disciplines including acupuncture and dry needling, sports massage, strength and conditioning and yoga teacher training, as well as coaching professionals looking to create their own online courses. The firm offers a hybrid training model which combines online learning through the its website with face-to-face sessions, and currently has a six-strong team of trainers working with clients across the UK and overseas.
The £60,000 Small Loan Fund investment, which was obtained through regional fund management firm NEL Fund Managers, will help the business scale up its operations by taking on more trainers with additional specialisms and boost its business development campaigns. The business will target markets including North America, continental Europe and the Middle East, and it is aiming to double its turnover over the coming year.
Breeze Academy founder Dr Carl Clarkson began providing training services in 2009, alongside his everyday physiotherapy work, before taking the business on full-time in 2021. He said: “We’ve seen interest in the types of training that we provide growing substantially over the last decade, especially as acupuncture has become the preferred method of pain management with more and more healthcare professionals.
Sunderland drinks device manufacturer JetChill is toasting growth in the US fuelled by a £1m funding package.
JetChill designs, manufactures and sells innovative devices for the hospitality industry, including its bestselling Flavour Blaster Pro, which creates a smoke-filled fragrant bubble on the top of drinks. Launched by entrepreneur Colin Myers and manufacturer Robert Flunder four years ago, the company’s kits are now used by many of the world’s top bars and at celebrity parties.
JetChill made its first international sale in 2011 to a hotel in Poland and now sells its products in a total of 138 countries, including the US, Australia and across Europe. As global demand grows for JetChill’s products, the company has tapped into funding to increase its workforce and expand further into international markets, thanks to a package from HSBC UK.
It will use the funding to lease a 9,000 sqft warehouse, allowing it to hold 300% more stock as it focuses on increasing its presence in the US. As part of its expansion, JetChill has also broadened its customer base and now sells its products like the Flavour Blaster and JetChill Dry Ice Systems directly to consumers via its website. Previously the company sold predominantly to businesses, including household names like Disney and The Marriott.
One of Newcastle’s highest buildings will be transformed into city centre apartments following a £20m funding deal.
At 200ft high, Cale Cross House is the 10th tallest building in Newcastle and it provided office space for a number of businesses from the 1970s until it was snapped up by developers in 2021.
Now Manchester-based Beech Holdings will put plans into action to turn the block into housing, with 241 apartments spread across the 18-storey building. The firm first revealed redevelopment plans for the tower two years ago, with the facelift set to include stripping Cale Cross House of its aluminium cladding, which does not comply with post-Grenfell fire safety rules for residential homes.
Bank of London and The Middle East (BLME) has provided the £20m development facility to finance the residential project, being carried out under the developer’s brand City Co-Living. The scheme will comprise a mix of studios and one bedroom units, suitable for graduates and young professionals, as well as amenities including a gym, private dining rooms, co-work space, cinema rooms and gaming rooms.
A Tyneside property technology company which appeared on a popular Channel 4 show has secured a £370,000 investment to help it grow.
Peek Home began as a hobby for Roland and Jaemi Glancy, who enjoyed helping their friends to visualise the potential for their homes with sketch designs and 3D models. Word spread through their children’s school WhatsApp group and what started as an evening and weekend pasttime quickly became a successful venture, to the point where the Cullercoats couple were able to officially launch Peek Home as a business in August 2021.
Peek Home allows homeowners to get the best out of their homes at the click of a butto, with professionally designed sketch plans, delivered in days, for a fraction of the cost of an architect. The firm now offers add-on products including 3D walkthroughs, VR home tours and exterior visualisations. Word of mouth and an appearance on Channel 4’s Love It or List It with Kirstie and Phil has led to the company designing thousands of home renovations across the UK, with a total project value approaching £100m.
Mr and Mrs Glancy have big ambitions to grow this number on the back of a total investment of £370,000, led by renowned Angel investor Simon Murdoch, who has also backed Zoopla, Shazam and Carwow, with £200,000 secured from the North East Innovation Fund, supported by the European Regional Development Fund, and managed by Northstar Ventures.
Commercial property firm UK Land Estates has re-acquired significant chunks of three North East industrial estates in a major multimillion-pound deal.
The landlord and developer, which now has about 600 tenants across its properties, has bought parts of North Tyneside’s New York Industrial Estate, Cramlington’s Nelson Park and Boldon Industrial Estate in an undisclosed deal. In a move described as a "substantial reinvestment" in the region, the firm will boost its portfolio by about 410,000 sqft, acquiring the majority of land across the three estates.
UK Land Estates had previously owned the sites until a sale in 2017 when it decided to concentrate investment on its three core estates of Team Valley, Tyne Tunnel and Teesside. Speaking to BusinessLive recently, the firm's managing director, Keith Taylor said UK Land Estates was experiencing high occupancy rates and was targeting growth through acquisition and speculative building.
On news of this most recent deal, Mr Taylor said: "We are delighted to have completed the re-purchase of these three estates, each of which are located in prime sites across the North East. Over the past few years, we have invested heavily in upgrading our stock and developing new speculative sites at Teesside and the Tyne Tunnel, and with market conditions improving, we’re now turning our focus to bringing more space to market.
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