Investments

North East deals of the week: key contracts, acquisitions and investments


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.”

(L-R) Mark Brassell, chief executive, The Alnwick Garden, and Jonathan Lancashire and Michael Sage of Sage Wealth Management(Image: Sage Wealth Management)

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.”

Esh Construction will carry out work at Northumberland Energy Park(Image: Esh Construction)

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.



Source link

Leave a Reply