Middleton Enterprises invests in and develops a range of businesses. These include regional SME’s and international corporations. These companies combined, employ over 4000 people and turnover £700m.
Our portfolio of venture capital investments increased in value by 21% in the year to March 2017.
We made one new investment into North East SME, One Utility Bill. The company raised £500k of growth capital. One Utility Bill provides a service for residential landlords and their tenants that merges their utility bill with their rent into one all-inclusive charge.
D-line, Cottages in Northumberland and Beyond Digital continued their organic growth and reported record profits each.
Apex Bridging and House Buyer Bureau secured new banking facilities providing further capital for expansion.
Atom Bank completed £100m fund raise. Middleton Enterprises did not follow on, but did benefit from the increasing share price.
The venture capital portfolio increased in value by 24% in the year. The biggest contributors were House Buyer Bureau and Apex Bridging. Both businesses continue to grow profitability.
Only 1 investment was made in this period. We contributed to a £450k fund raise for Beyond Digital. The company has secured a contract to supply digital signs to Greggs as they refurbish their estate.
Cottages in Northumberland and D-Line are great examples of North East businesses. They provide simple but high quality products/services and deliver steady growth each year. Both companies moved to bigger premises in the year to facilitate expansion.
We invested in one new business in 2014/15, participating in the seed capital rounds for Atom Bank. The company has recruited more than 40 people so far, was recently granted its banking licence and aims to launch later in 2015.
We continue to support our portfolio companies, which have growth potential. Follow on investments were made in DIY product manufacturer, D-Line, and digital signage integrator, Beyond Digital Solutions. House Buyer Bureau has secured a significant bank credit facility and Apex Bridging continues to grow its loan book. Apex is seeking new broker relationships to expand the business.
A number of legacy investments were sold or ceased to trade in the year.
Cottages of Northumberland Markets holidays in Northumberland's many coastal and rural locations. The agency provides a full management service to property owners.
House Buyer BureauTrades residential property throughout the UK. The company buys and sells more than 300 houses per annum. Watch our customer testimonial here.
Beyond Digital Solutions Provides digital signage solutions. Customers include Volvo, Butlins, NHS, Esquire Coffee House, Luton Airport and many other blue chip companies.
D-Line Designs and manufactures decorative trunking and other cable management solutions. Products are sold in B&Q, Homebase, Screwfix and various international markets.
Atom BankA challenger bank with a unique digital proposition. Based in the North East of England, the start-up business is expected to create 300 jobs.
Apex BridgingApex Bridging provides property finance solutions. These are generally short term loans which are secured against property, land or developments.
One Utility BillBundles household bills and sources better utility prices, with a software interface that makes payment and management easy for landlords and tenants.
Charity EscapesA new online platform that allows holiday home owners to donate time in their property to charity. Consumers can use the website to book a break in a range of unique and special properties.