Partner Article

North East film company expands

ONE of the region’s independent film and television production firms has secured £795,000 worth of investment to expand its operations and invest in new equipment.

The Dene Group, based in Newcastle, received the cash injection through the Government’s Enterprise Guarantee Scheme, which aims to give businesses the necessary working capital or investment they need.

Having grown significantly in the last few years, the Group has achieved a number of new contract wins and has also established operations in London and Manchester.

The firm will relocate to new headquarters in Ouseburn, in the heart of Newcastle’s creative hub.

Founder Steve Salam, said: “This investment will underpin our growth strategy significantly and enable us to enhance our competitive advantage.

“We’ll be able to purchase updated equipment and moving to new headquarters will improve our efficiency. It will also provide us with an injection of working capital.”

The investment is made up of £500,000 from the Growth Plus Fund managed by FW Capital, together with £150,000 from the Growth Fund managed by NEL Fund Managers.

Separately, a further £100,000 has been secured through a Grant for Business Investment administered by One North East with RBS investing £45,000.

This was posted in Bdaily's Members' News section by Ruth Mitchell .