County Durham engineering firms to create jobs with new six-figure investments
Two engineering firms in County Durham are set to scale up operations after securing six-figure investments.
Alpha Process Controls and Aldona Seals have each secured £200k funding from the North East Growth Capital Fund, supported by the European Regional Development Fund.
Alpha Process Controls specialises in fluid transfer process systems, supplying safety valves and couplings to firms in the oil and gas, medical gases and industrial sectors, while Aldona Seals manufactures a range of hydraulic, pneumatic and rotary shaft seals for customers with specific design requirements for the compression and injection moulding of rubber.
Both firms were recently acquired from the Knorr-Bremse Group, the German parent company of regional engineering firm GT Group former GT Group sales director John Lamb and Alpha’s design manager Ben Richardson through their ACCEDO Group holding company.
John commented: “Having been involved with the two businesses for many years, Ben and I recognised the potential that they have to innovate and grow, and bringing in these investments gives us the resources we need to make this happen.
“While we’re targeting clients and markets around the world, we’re very firmly committed to remaining a North East business that will create new jobs and provide new opportunities within the region.”
As well as creating new jobs, the firms plan to expand with a new global distribution agreement with a multinational energy business.
John continued: “The whole investment process has been completed remotely and everyone involved has done a fantastic job. Business Durham has supported us from the very first day that we started thinking about buying Alpha and Aldona, while the enthusiasm and commitment of the NEL team made the investment application process very simple.”
David Thomas, investment director at NEL Fund Managers, commented: “John and Ben presented us with a clear vision of how they plan to build on the strong market reputations of both businesses and how the growth capital we’re providing will enable them to achieve their commercial ambitions.”
Peter Rippingale, inward investment manager at Business Durham, added: “I have been pleased to have been able to help John and Ben through the management buy-out and investment process. These are two excellent, long-established local businesses.
“This investment will enable both companies to explore new markets and technologies, creating jobs and opportunities in County Durham, and we look forward to continuing to work with them as they grow.”
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