FW Capital backs Tees Valley technology firm Communicate Technology PLC to support further growth aims with an investment of £500,000.
The fast-growing company has surpassed projections year on year, listed for the second year running as one of the fastest growing companies in Europe by the Financial Times, named as ‘one to watch’ by the Telegraph and listed as one of the top 50 best companies to work for in property by Property Week.
The company installs and maintains IT, telecoms services, cyber security and cloud based services to businesses across the UK, with a specialism in multi-occupancy commercial properties and business parks across the UK.
The £500,000 investment from NPIF - FW Capital will see Communicate Technology PLC expand their services into an additional 35 buildings and create new jobs in the Tees Valley.
Konrad Rutkowski, finance director at Communicate Technology PLC said: “We’ve gone through a huge growth phase very quickly which has resulted in doubling our revenues. We reached out to FW Capital as we needed funds to complete the work plan to hire additional staff and kit.
They understood what we wanted to achieve and had more flexibility than some of the more traditional lenders who look at immediate profit in projects, whereas FW could take a longer-term view.”
Tony Snaith, CEO of Communicate Technology PLC said: “In the next 18 months, we’re looking to connect another 35 buildings with our services. The £500,000 investment has been a crucial aspect in developing our growth plans, which will result in recruiting around 10-15 new staff members in the Tees Valley to fulfil those obligations.”
Tony continued: “In addition, we are looking at other acquisition opportunities to further our nationwide presence.”
Keith Charlton, investment executive at FW Capital said: “We are extremely happy to support and invest in Communicate, they have great potential and are growing at a rapid pace and have achieved many accolades.
We’ve known Communicate for a while, their development team are forthcoming and their growth expectations are realistic and appealing. It is exciting to back their plans, which ultimately will create jobs in the Tees Valley which we are proud to support.”