Anthony Thomson (left) with Jeremy Middleton.

North East investment firm Middleton Enterprises is backing the challenger Atom Bank in a six-figure deal as part of its strategy of supporting growing businesses in the region.

The £50m investment company, founded by high profile businessman and philanthropist Jeremy Middleton, has selected Atom Bank for investment based upon its potential to add value and growth to the North East.

The Newcastle-based investment firm has a strong track record of supporting growth businesses. However, the Atom Bank deal is a variation upon the normal strategy of Middleton Enterprises, in that it is a rare investment into a start-up venture.

Jeremy Middleton said: “This investment in Atom Bank reflects my belief that we need more high quality national businesses in the North East. The efforts of organisations such as the North East LEP are helping to create an environment in which such businesses can thrive and Atom Bank is leading the way in recognising this and acting.

“Not only does Atom Bank fit the bill in this respect, I believe it can bring real growth to the region and add value to our economy, and I am proud to be getting behind Anthony Thomson and his team.”

Anthony Thomson, Chairman of Atom Bank, said: “Support and investment from organisations such as Middleton Enterprises and influential individuals such as Jeremy will help to get Atom Bank off to a great start. This is a very important endorsement for the bank, not only because of the finances involved, but because investors and business leaders in the region recognise that Middleton Enterprises support businesses they believe have great potential to improve the economy in the North East.”

ENDS

ISSUED ON BEHALF OF MIDDLETON ENTERPRISES

CONTACT: Paul White on 01325 363436

Notes to Editors:

Middleton Enterprises Ltd is a private investment company that has made a substantial contribution to the North East’s economy by investing in and providing business advice to entrepreneurial businesses.

During recent years, it has supported a number of North East businesses, generally from start-up, usually taking a minority stake and offering strategic advice to support growth.

Jeremy Middleton

Mr Middleton is a high-profile entrepreneur and philanthropist based in Newcastle. He started his career as a Brand Manager at Procter & Gamble before working for PriceWaterhouseCoopers as a Marketing Consultant. He co-founded HomeServe, now a FTSE 250 company which operates in the UK, the USA, France, Spain and Italy, and remains a shareholder with a seat on the Executive Committee. He is a director at North East based energy and water consultancy company Utilitywise PLC.

Mr Middleton is a board member of homelessness charity Changing Lives and has served on the Promotions Board of St Oswald’s Hospice since 2005. Mr Middleton and his family are active supporters of the Variety Club Northern Region, which aids sick, disabled and disadvantaged children, and World Vision, an international charity which works to improve the lives of people in developing countries.

Mr Middleton has carried out a range of sponsored fundraising for a variety of charities which to date include the North Pole, Mount Kilimanjaro, Mont Blanc, The Haute Route, Mount McKinley, Mount Elbrus and a cycle ride from London to Paris.

In 2007, Mr Middleton established a Community Enterprise Fund to help charities establish commercial ventures and has championed the establishment of a Social Enterprise Fund, which is led by the Northern Rock Foundation.

Mr Middleton has been a Board Member of the North East Local Enterprise Partnership (LEP) since 2011 and is Chairman of the North East LEP Investment Fund, which makes recommendations to the LEP Board for the £25m Growing Places Fund and the £30m Infrastructure Fund.

In 2012 Jeremy was awarded a CBE in the Queen's Birthday Honours List for Services to Politics and Charities.

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Anthony Thomson (left) with Jeremy Middleton.Download Large