North East commercial law firm, Square One Law has advised Dyer Engineering in relation to a £1.95 million investment.
Dyer Engineering Ltd is County Durham’s largest independent engineering business, specialising in machining and fabrication of complex metalwork and components for the rail, marine, power and automotive and offshore sectors. This significant funding will help to exploit new opportunities, support its strategic growth plans and create up to 100 jobs for the region.
Graeme Parkins, Managing Director of Dyer Engineering, said “We are absolutely delighted to have received this investment into our company. This investment is a rubber stamp of our plan and will allow us to turbo charge the business’ progression over the next few years towards our goals.”
The North East Development Fund (supported by the European Regional Development Fund) and the Finance Durham Fund (established by and using funds from Durham County Council), both managed by Maven Capital Partners, have invested £1 million and £750,000 respectively, with a further £200,000 sourced from a local private investor.
Richard Bradley, Finance Director at Dyer Engineering worked closely with the Square One Law team as advisers on this investment. He said “Throughout the process the team at Square One Law were exceptional, their professionalism and communication in support of our vision of becoming a world class engineering business made it a pleasure to work with them. This investment is key to our growth over the next few years.”
Charlie Fielding, partner in the corporate team at Square One Law, said, “It has been great supporting Richard and Graeme on delivering this investment for Dyer Engineering, which represents a fantastic opportunity for the North East’s independent engineering industry.”