Newcastle software giant Sage has made its fourth fintech investment in a year after snapping up Manchester company GoProposal.
Sage said the deal for the provider of proposal management software for SME accountancy firms reflects its commitment to delivering ongoing innovation to its accounting partners as cloud technologies continue to drive real benefits for accountants.
The deal will strengthen Sage鈥檚 position in the 海角视频 accountant space, with the GoProposal team joining Sage鈥檚 global accountants team based in Manchester.
It follows Sage鈥檚 acquisitions of Israeli AI firm Task Sheriff, HR company CakeHR and data entry business AutoEntry in recent months.
North East firm radiator manufacturer Stelrad has announced its intention to float on the Stock Exchange in a move that could value the firm at 拢350m.
The company is based in Newcastle city centre, with a manufacturing base in Mexborough, South Yorkshire, as well as sites in Holland, Turkey, Denmark and Poland.
The flotation would allow the company to use 拢25m to pay off debts.
In documents announcing the intention to float, the company said: 鈥淪telrad has the opportunity to strengthen its market position in the heating sector through complementary acquisitions providing further product breadth and geographic expansion opportunities.鈥
Fast-growing North East transportation technology company Mandata has new equity partners after its current backers exited the business.
LDC, the private equity arm of Lloyds Bank, has exited its investment in the Newcastle firm to Tenzing, a London-based equity group specialising in tech companies.
Mandata鈥檚 technology allows the 海角视频鈥檚 carrier and haulage businesses to manage workflows and data more effectively, with products including traffic planning and management, tracking, telematics, and invoicing. It has around 2,000 customers around the 海角视频.
LDC and Mandata were advised by KPMG (corporate finance), Muckle (legal), KPMG (financial due diligence) and Roland Berger (commercial due diligence). Mandata鈥檚 management were advised by Paul Kaiser (corporate finance) and UNW (tax).
A Gateshead retail and trade park has been snapped up in a 拢5.5m deal by Buccleuch Property .
Based next to the MetroCentre, the Allison Court Trade Centre has 11 fully occupied units with tenants including Halfords, American Golf, Alpkit, Pure Scooters & Bodypower Sports.
Now the site has been bought off market from New River, with the deal value reflecting an initial yield of 8.8%. The Galbraith Investment Team advised on the purchase.
Galbraith and Womble Bond Dickinson advised Buccleuch Property; Knight Frank advised New River.
