Jeremy Middleton, founder of Middleton Enterprises

North East investment company Middleton Enterprises has more than doubled its stake in Utilitywise with the acquisition of £3.6m of additional stock.

The business, led by high profile businessman Jeremy Middleton, has taken his initial £4m holding in the Tyneside-based energy cost management firm, to in excess of £9m, as part of a strategic investment programme. Following an investment of £1m of shares in May, a further £2.6m of stock has now been acquired, taking Mr Middleton’s interest in the firm to 4.29%, up from 2.48% a year ago.

The latest acquisition of stock takes Mr Middleton’s holding to 3,287,559 ordinary shares in Utilitywise. In 2013, Mr Middleton was appointed to the post of non executive director of Utilitywise.

Mr Middleton said: “This is a significant investment for Middleton Enterprises as part of our strategy to support North East companies with strong potential. Utilitywise is a great company, with excellent growth prospects, increasing employment and a strong management team. Our latest investment shows how firmly we believe in Utilitywise and reflects my own desire to be actively involved in the company’s future development.”

Paul Woolston, Chairman of Middleton Enterprises, said: “Middleton Enterprises believes in backing business in the North East and Utilitywise is already a great success story for the region. We are very proud to be associated with the firm and look forward to enhancing that relationship as we continue to support the business through this continued investment.”

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 and his family are active supporters of Maggie’s Centre 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.

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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Jeremy Middleton, founder of Middleton Enterprises
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