Newcastle’s Activ Technology creates 16 new jobs after £500,000 investment

Activ Technology, an independent provider of mobile, communications and IT services, has received the six-figure funding from FW Capital.

The business provides its services to small and medium business across the North of England and Scotland.

However, the tech company is now planning to expand its business geographically and hire 16 new members of staff.

To secure the £500,000 investment, Activ Technology brought in local law firm Muckle and accountancy firm UNW to advise on the deal.

Ian Gillespie, managing director at Active Technology, commented: “We required a quick turnaround on this investment deal and we knew that Muckle and UNW would be able to deliver this within the very tight timescale.

“The funding comes at a positive time for the business and will play a key role in our future growth plans.”

The deal was complete within three days with the help of Muckle banking partner Kevin Maloney and UNW corporate finance partner John Healey.

Mr Maloney said: “We’re pleased to have advised Activ Technology on the completion of this deal which will support its future expansion.

“We knew the transaction had to be completed promptly, and by working closely with Activ, UNW and FW Capital we were able to finalise the legal documentation on time for our client.”

FW Capital is responsible for financing the expansion of a number of businesses across the region after setting up the North East Growth Plus Fund. Businesses can apply to receive investment of between £350,000 and £1.25m through the fund.