Middleton Enterprises chairman Paul Woolston (left) and founder Jeremy Middleton (centre) with D-Line managing director Paul Ruddick.

North East investment firm Middleton Enterprises has increased its investment in Tyneside cable management company D-Line.

The buyout of fellow investor Helen McArdle’s share of the business follows a similar move in 2013 when the firm, owned by Newcastle-based entrepreneur and business expert Jeremy Middleton, bought the shares owned by Northstar Ventures in a joint move with D-Line’s management.

In 2006, the year after D-Line was founded, Mr Middleton made his initial investment in the Seaton Delaval-based company, which has now grown to have a turnover of around £3m, with its products being sold in 21 global markets.

D-Line, which supplies its cable management products, including its patented trunking, to leading DIY retailers and trade outlets, was set up when managing director Paul Ruddick spotted a gap in the market for a product which stylishly hides wires and tidies cables in ways which blend with decor.

Support from leading UK retailers, including B&Q, have helped the company move into foreign markets, with £1m of its turnover now export-linked.

Jeremy Middleton said: “D-Line is a great North East success story in both the domestic and export markets. Paul Ruddick really found a niche with great looking cable management products for the home and commercial premises, and the company has gone from strength to strength. He has found a product which is not only needed here in the UK, but in every developed country in the world, and I am proud to be a significant shareholder, helping to drive D-Line forward.”

D-Line’s Founder and Managing Director, Paul Ruddick, said: “Jeremy has been a supporter of D-Line from the early days and he has continued to invest in the company as we have developed, and he has helped us to grow. This growth is something which continues, thanks to this support, and we have recently entered our 21st market, Croatia, with more to come. Middleton Enterprises is a true supporter of North East enterprise and we are very grateful to Jeremy for helping us work towards achieving our global potential.”

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.

Twitter:
Facebook:
Share
LinkedIn:
Google+ :

« Back

Hi-Resolution Image

Middleton Enterprises chairman Paul Woolston (left) and founder Jeremy Middleton (centre) with D-Line managing director Paul Ruddick.
Download Large