Investor 'takes next step' with Alma partnership

An investment company says it is primed for growth after sealing a new partnership.

Develop North has appointed Alma Strategic Communications as its financial PR adviser.

Bosses say the move will boost London Stock Exchange-listed Develop North’s “future investment and wider fund strategy… and demonstrate the value it brings to investors”.

They add it will help the business, which is overseen by Newcastle-based fund manager Tier One Capital, build on almost £100 million support for more than 40 projects since its 2017 founding.

Providing financial support between £500,000 and £5 million to individuals and businesses across the North of England and Scotland, officials say the venture has helped create more than 3200 jobs and deliver nearly £250 million in gross development value.

Ian McElroy, Tier One Capital chief executive, said: “Appointing Alma is a natural step as we continue to build on Develop North’s future investment and wider fund strategy.

“Their undoubted expertise in the financial sector will help demonstrate the important role it plays in contributing to North East economic development.”

Andrew Jaques, Alma Strategic Communications’ partner, added: “We look forward to helping communicate the company’s investment strategy to a broader audience of investors.”

The partnership comes after Develop North hailed its resilience against a “testing economic background” to notch an annual profit.

The firm saw earnings hit £1.17 million in the year to November 30, with bosses saying it is primed to maintain its momentum.

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