North East investment firm sees five times the annual growth rate of FTSE All Share
Middleton Enterprises, one of the North Easts leading investment firms, has doubled net asset value from £48m in 2013 to £96m in 2017,success which it puts down to investing in fast growing technology businesses, including early stage venture capital and larger companies that are listed on the stock market.
The firm has recently invested in Newcastle based One Utility Bill, which provides a service for residential landlords and their tenants that merges their utility bill with their rent into one all-inclusive charge, as part of a £750,000 funding round. The company has grown quickly over the last year and has over 2,000 households using their service.
Middleton Enterprises has also invested in Rota, which provides a network for hospitality venues to connect with staff through an app. The company has fulfilled 27,000 shifts with over 3,000 members signed up. Rota has raised £1.8m and recruited 5 new staff to accelerate its expansion.
David Alprovich, Commercial Director of Middleton Enterprises, said: “One Utility Bill and Rota are innovative companies that are using technology to disrupt traditional market places. They are adding real value to their customers and creating new jobs. We are actively looking to invest in early stage ‘software as a service’ companies. In particular, those with a proven sales or marketing model, with £20-50k of monthly recurring revenue, that are raising funds to grow faster.”
The technology theme continues into the company’s portfolio of listed investments. The team at Middleton Enterprises has developed its own investment strategy and manages this portfolio in house.
This portfolio has generated 22% annual growth rate in the last 5 years. In the same period the FTSE All Share has returned an average of just 4% per annum.
Brett Rogers, Investment Manager at Middleton Enterprises, said: “We have focused on buying high quality businesses that grow consistently. Such as Just Eat, which is growing at 50-60% per annum.
“Dotdigital has been a great investment for us over the last 12 months. They provide an intuitive email marketing platform. The company has an established UK customer base and is expanding internationally. They consistently deliver 20-30% growth.
“We have quite a concentrated portfolio, we look to buy great companies at a reasonable price and then hold for the long term.”
ISSUED ON BEHALF OF MIDDLETON ENTERPRISES
CONTACT: Mike Renton on 01325 363436
Notes to Editors:
Middleton Enterprises is an investment firm that represents the business interests of Jeremy Middleton. Its portfolio includes listed companies, venture capital and property investments.
It makes investments throughout the UK, with a particular focus on the North East from its office on the Quayside in Newcastle.
The team of 8 investment professionals work with successful entrepreneurs, helping them to grow their business. We have extensive experience in marketing, investment and finance.