£500,000 FW Capital mezzanine investment backs Tees Valley Group’s global expansion
A specialist training, recruitment and management systems
company is expanding its global operations in the oil and gas
sector with the backing of a £500,000 mezzanine investment from FW
Capital, the company which manages the North East Growth Plus
MC² Technical Recruitment (MC²), with its headquarters in
Stockton-on-Tees, is using the working capital injection to fund
the costs of securing new contracts and also to boost the number of
consultants it employs.
FW Capital’s investment has also enabled the company to ramp up
its operations in Malaysia and South Africa.
Having run the technical recruitment, training and management
systems consultancy company since July 2009, MC²’s current
management team then completed a management buy-out in early
Led by Chief Executive Alan Gibbin, the team has successfully
rebranded the company and repositioned its operations focusing
itself on the lucrative, international oil and gas sector.
MC² has an extensive candidate database which it uses to source
senior construction, engineering and manufacturing personnel for
its clients such as, Petronas and PetroSA.
“At MC² we’ve extensive knowledge and many years’ experience of
the sectors we operate in and our clients range from major
drilling, engineering and construction companies to EPC contractors
and inspection bodies. They often have challenging staffing
requirements and we’re proud of our reputation for providing a
flexible, high-quality, professional and responsive service.
“Since the buy-out we’ve rebranded and with FW Capital’s
investment we’ve been able to focus on the oil and gas sector,
which has strengthened our business considerably. This strategy is
already paying dividends as we’ve secured a number of important new
contracts and we’re currently negotiating for other major and
exciting business opportunities,” Gibbin explained.
The company targets key markets throughout the world from its
offices in Cape Town, Kuala Lumpur and Dubai. Kuala Lumpur is
currently home to one of the fastest growing oil and gas production
centres in the world.
Investment Executive, Michael Vassallo worked with MC²’s
directors and management staff to structure FW Capital’s
investment. He said: “MC² has a strong team with a deep
understanding of the sectors the business operates in. The company
has an impressive client list as well as an enviable pool of
candidates which ensures it can satisfy its clients’ resourcing
“FW Capital’s investment has enabled Alan and his team to target
lucrative opportunities particularly in the buoyant global oil and
gas sector. MC² is a well-established business and its expansion
into the oil and gas sector not only complements its existing
operations, but also increases its scale significantly.”
MC² sources engineers and management personnel based throughout
the world to fulfil temporary, fixed-term and permanent
FW Capital made the investment from the North East Growth Plus
Fund. The North East Growth Plus Fund which is part of the £125
million Finance for Business North East Fund. The fund is targeted
at established businesses in the region and can provide
single-round investments of between £350,000 and £1.25 million.
FW Capital has recently increased its presence in the Tees
Valley with the launch of the Tees Valley Catalyst Fund. The
company has recently opened its Billingham office and recruited two
new investment executives.
Launched by Tees Valley Unlimited (TVU) at the end of June, the
£10 million Catalyst Fund provides Tees Valley businesses with
short-term finance to fund performance and warranty bonds.