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A new company has been launched with a mission to acquire and grow profitable SMEs in the North East.

Alpro Capital, in Houghton-le-Spring, has been founded by experienced investor David Alprovich, with the aim of snapping up and enhancing established small and medium-sized enterprises across the region.

Now Newcastle’s Middleton Enterprises has announced its support for the new venture, which will focus on acquiring profitable businesses with Ebitda (Earnings before interest, taxes, depreciation and amortisation) in the range of £250,000 to £750,000. The venture’s strategy is to invest in and grow the businesses by supporting existing teams, retaining well-established brands, and helping them to reach the next stage of their development.

Mr Alprovich has spent 16 years with Middleton Enterprises, making dozens of investments and working with founders across a range of sectors.

Middleton Enterprises was founded in Newcastle in 2000 by Jeremy Middleton, and during his time there Mr Alprovich has been involved with businesses including OneGym Fitness, HBB Solutions, D-Line and OneUtilityBill.

Mr Alprovich, managing director at Alpro Capital, said: “There are many great businesses hidden away in business parks across the North East – businesses that have been built up by entrepreneurs over many years. Often, these owners don’t have a succession or exit plan, having been fully focused on running their business. We want to provide them with an exit opportunity while acting as a good custodian of the companies they’ve built.”

Middleton Enterprises, which also has offices in London, will provide funding, strategic support and guidance to Alpro Capital as it seeks out acquisition opportunities and works alongside business owners through succession and growth.

Mr Middleton, CEO of Middleton Enterprises, said: “We are delighted to back David in this new venture. Over the years, he has demonstrated real skill in working with entrepreneurs to grow their businesses.

“Succession planning is a challenge for many SME owners, and Alpro Capital offers a responsible and practical solution that ensures the businesses they’ve built can continue to thrive.”

Earlier this year three companies backed by Middleton Enterprises – Upholstery2U, One Utility Bill and SushiDog – made it onto the FEBE Growth 100 List for 2025, which recognises rapidly growing privately owned businesses in the º£½ÇÊÓƵ led by founders who remain actively involved.