Newcastle healthcare tech firm OLM Diagnostics was acquired by a US manufacturer and distributor.
Launched 10 years ago, OLM Diagnostics develops fungal diagnostic products which can reduce the rate of drug resistant infections – which can save hospitals money while also improving patient care. The business says a bright future is now unfolding after it was snapped up for an undiclosed amount by IMMY, an Oklahoma business which has been manufacturing, marketing, and distributing lines of diagnostic tests and reagents for infectious diseases since 1979.
Ged McGonnell, the founder and a director of OLM Diagnostics, added: “We have been using Sintons for several years now for all our commercial needs, they have helped with everything from the rewriting of articles to contracts and advice. When we made the decision to sell the business, we set about working with Emma and her team. Their attention to detail was outstanding, coupled with their ability to explain things in a simple way which helped and reassured us immensely.”
Newcastle law firm Sintons advised on the deal. Emma Pern, partner at Sintons, who worked on the case alongside solicitor Leigh Garbutt, said: “We’ve supported OLM Diagnostics with legal advice since 2017, from their initial agreements and trademarks, through to this recent disposal. It’s been a pleasure to work with the team for so long and to guide them through this milestone for the shareholders and for the company.”
Sage Wealth Management sealed a sponsorship deal which will see the renaming of a key attraction at The Alnwick Garden. For the next three years, the Northumberland destination’s water feature the Grand Cascade will be called The Sage Wealth Management Grand Cascade. The deal will help to deliver investment into The Alnwick Garden Trust, the charity which encourages social inclusion, improves wellbeing and supports vulnerable members of the community in the North East.
Michael Sage, managing director of Sage Wealth Management, which has offices in Chester le Street, Alnwick, Hexham, Darlington and Carlisle, said: “This partnership with The Alnwick Garden feels like a natural fit as we are also passionate about helping people of all ages within each community we serve across the North East.
“The Grand Cascade is such a prominent feature within the garden and for us, it mirrored the natural ebbs and flows of life many of our customers face financially at any stage.”
County Durham contractor Esh Construction secured a £7.3m deal for work at Northumberland Energy Park. The Durham company has sealed the contract to complete the fitout of the widened Ash Barge Dock at the offshore energy park, based near the Port of Blyth. The site is part of Energy Central, the port-based service, investment and growth cluster for firms which operate in the offshore energy and subsea markets.
The scheme includes the construction of a 3,000 sqm piled concrete relieving slab, behind the west and north quay walls at ground level, which will make the dock will be serviceable for the import and export of components and finished goods.
Esh Construction’s Divisional Director, Steven Garrigan, said: “The contract marks the start of a new relationship with Advance Northumberland, and we’re delighted to be bringing our expertise to this project which forms part of the wider Phase 1 enabling works plan to provide an extended and deep-water berth at the Ash Barge Dock.”
North East tech firm Datum360 was snapped up by an American multinational software corporation in an undisclosed deal. Stockton-on-Tees-based Datum360 was founded in 2009 to provide software to engineering firms which connects to a range of systems. The company’s platform is used by firms in sectors including energy, mining, utilities, road and rail sectors. The platform connects customers with their data, helping their decision-making while also enhancing efficiencies within firms.
Now Datum360 has become part of Autodesk Inc, a $5bn turnover San Francisco-based business with offices around the world that supplies software products and services to architecture, engineering, construction, manufacturing, media, education, and entertainment industries.
Steve Wilson, Datum360 CEO, said: “Datum360 and Autodesk are united by a shared mission to help our customers make their data a competitive advantage. By integrating our technologies, we’re not building a single source of truth, but a single source to go to and search for the truth.”
The deal provides a successful exit for investment group BGF, which put a multimillion-pound sum into the business in 2020 to fuel its growth plans.
Roofing company TaperedPlus is set for significant growth after securing a £5.5m investment from BGF. The Stockton-based firm was launched in 2014 by Aman Chahal and Robert Vass and specialises in flat roof design and insulation, including architectural design services for complex flat and tapered roof projects. The firm’s deal will see BGF back its ambitious growth plans, while also providing an exit for original investor Comhar Capital. The finance will help the Tees Valley business bring a new technology focus to the company.
The investment from BGF, the UK and Ireland’s most active growth capital investor, marks a significant milestone for the TaperedPlus bosses as they aim to take the business to new heights.
Mr Chahal, co-founder and CEO of TaperedPlus, said: “Following a great relationship with Comhar Capital, we were seeking an investment partner to help us expand further while maintaining control of the business. BGF stood out for their culture, values, and relationship-led approach. We are excited to work together to take TaperedPlus to the next level. This investment reflects our growth ambitions and commitment to enhancing customer experience through innovative solutions and strategic partnerships.”
Sunderland’s Clearly Drinks was acquired by a Manchester firm in a £15m deal. Supreme plc, which operates across the consumer goods sector having been launched as a manufacturer and supplier of vapes, has acquired Clearly Drinks as part of efforts to diversify its operations.
Clearly Drinks dates back to 1885 and supplies retailers such as Waitrose, Aldi, Tesco, Sainsbury’s and Farm Foods with its Perfectly Clear, Northumbria Spring, and Revolution Waves brands. It also provides private and own-label drinks for supermarkets and discounters and serves as a contract manufacturer for some of the world’s largest soft drinks companies.
Sandy Chadha, CEO of Supreme, said: “We are delighted to be acquiring Clearly, a high-quality manufacturer and brand owner of soft drinks. Our enlarged business is gaining not only a strong additional pillar that aligns with our Vaping, Lighting, Batteries, and Sports Nutrition & Wellness categories but also a significant opportunity to develop and capitalise on the further cross and upsell opportunities facilitated by our trusted reputation across the UK retail space.”
