Tees Valley tech firm to create new jobs with £500k Northern Powerhouse investment

Communicate Technology PLC, the Tees Valley-based technology firm, is aiming for growth after securing an investment of £500k from NPIF - FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund.

The company installs and maintains IT, telecoms services, cyber security and cloud-based services to businesses across the UK, with a specialism in multi-occupancy commercial properties and business parks across the UK.

The £500k investment will see Communicate Technology PLC expand its services into an additional 35 buildings and create 10 to 15 new jobs in the Tees Valley.

For the second year running, Communicate Technology PLC was listed as one of the fastest growing companies in Europe by the Financial Times, named as ‘one to watch’ by the Telegraph and listed as one of the top 50 best companies to work for in property by Property Week.

Konrad Rutkowski, finance director at Communicate Technology PLC, said: “We’ve gone through a huge growth phase very quickly which has resulted in doubling our revenues. We reached out to FW Capital as we needed funds to complete the work plan to hire additional staff and kit.

“They understood what we wanted to achieve and had more flexibility than some of the more traditional lenders who look at immediate profit in projects, whereas FW could take a longer-term view.”

Tony Snaith, CEO of Communicate Technology PLC, commented: “In the next 18 months, we’re looking to connect another 35 buildings with our services. The £500k investment has been a crucial aspect in developing our growth plans, which will result in recruiting around 10-15 new staff members in the Tees Valley to fulfil those obligations.

“In addition, we are looking at other acquisition opportunities to further our nationwide presence.”

Keith Charlton, investment executive at FW Capital, added: “We are extremely happy to support and invest in Communicate, they have great potential and are growing at a rapid pace and have achieved many accolades.

“We’ve known Communicate for a while, their development team are forthcoming and their growth expectations are realistic and appealing. It is exciting to back their plans, which ultimately will create jobs in the Tees Valley which we are proud to support.”

Ben Houchen, Tees Valley Mayor, said: “This investment by the Northern Powerhouse Investment Fund is a testament to the hard work of everyone at Communicate. The Tees Valley is known the world over of steel, heavy engineering and chemicals, but we are so much more than that. To see digital services firms expand just shows how much potential there is in our region.

“This investment is a vote of confidence in the whole Tees Valley and our skilled workforce.”