According to a recent report, two County Durham engineering firms will create new jobs and ‘scale up’ after securing £400,000 between them to drive their growth; Alpha Process Controls and Aldona Seals were both recently acquired from the Knorr-Bremse Group (the German parent company of regional engineering firm GT Group) by former GT Group sales director John Lamb and Alpha’s design manager Ben Richardson (through their ACCEDO Group holding company).

They have now worked with NEL Fund Managers to bring £200,000 of investment into each company from the North East Growth Capital Fund, which is supported by the European Regional Development Fund.

They are implementing growth strategies that will see both businesses enhance existing operations, while ‘developing new products and services to support emerging technologies’.

A number of new jobs are also expected to be created as the businesses develop, while discussions are already under way around a new global distribution agreement with a multi-national energy business.

Providing new opportunities for young people in the North East to get into the engineering industry (through degree apprenticeships and other routes) also form part of the firms’ growth plans.

Mr Lamb said: “Having been involved with the two businesses for many years, Ben and I recognised their potential for innovation and growth, and bringing in these investments gives us the resources we need to make this happen.

“Our aim is to consolidate the services we offer for our core customers while also designing and developing new products and services.

“Despite targeting clients and markets around the world, we are firmly committed to remaining a North East business that will create new jobs and provide new opportunities in the region.”