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Diversified Financial Services
nel.co.uk

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Investments

74

Portfolio Exits

4

Funds

14

Partners & Customers

1

About NEL Fund Managers

NEL Fund Managers Limited, is an independent fund management company which provides financial products to small and medium-sized businesses based in the North East of England.

NEL Fund Managers Headquarter Location

City Quadrant 11 Waterloo Street

Newcastle upon Tyne, England, NE1 4DP,

United Kingdom

+44 345 369 7007

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Latest NEL Fund Managers News

Formula Plastics taps into seventh investment from NEL Fund Managers to drive growth

May 13, 2022

Formula Plastics taps into seventh investment from NEL Fund Managers to drive growth The County Durham company has renewed its relationship with NEL, more than 25 years after it helped to launch the firm 12:49, 13 MAY 2022 Investment: (left) John Suggate and (right) Geoff Hodgson of Formula Plastics with Jonathan Armitage of NEL Fund Managers. (Image: Formula Plastics/NEL Fund Managers) Sign up to FREE email alerts from BusinessLive - North East - a direct briefing of the latest headlines to start the day Something went wrong, please try again later.Invalid Email Subscribe We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Thank you for subscribing!We have more newsletters Show me See our privacy notice A North East manufacturer is planning to double turnover by the end of next year after securing its seventh funding package from Newcastle investors. Injection moulding firm Formula Plastics has renewed its longstanding relationship with NEL Fund Managers as part of its growth plans, 26 years after the Newcastle investment organisation helped to launch the business. The company has brought in a £100,000 investment from the North East Small Loan Fund Supported by The European Regional Development Fund via the Recovery Loan Scheme as it looks to regain ground lost during the pandemic. The Newton Aycliffe-based firm manufactures high tolerance precision components which are used by companies in a growing range of sectors, including automotive, engineering, lighting and electronics. Having diversified its customer base and enhanced its business development resources, Formula Plastics is now aiming to take its current £2m turnover up to around £4m by the end of next year, with up to 20 new jobs set to be created as the business grows. Formula Plastics’ relationship with NEL goes back to 1996, when it provided start-up funding to get the business going and this latest, Small Loan Fund investment is the seventh time that the two organisations have worked together, with Formula having successfully exited their most recent agreement in 2015. John Suggate, chairman at Formula Plastics, said “In common with many companies, the last few years have proved challenging for us, but we’re now see signs of improvement across all the sectors in which we’re active and want to capitalise on the opportunities this provides. “The high standards to which we’ve always worked and the quality of the work that we deliver are being recognised and welcomed by clients in a growing range of industries, and we’re seeing our order book filling up across all the markets in which we’re active.” Geoff Hodgson, managing director at Formula Plastics, added: “We have a highly experienced and long-serving workforce that has the skills and knowledge required to not only deliver the specialist services that our customers require, but also to help them solve problems that would otherwise impact on their business’s operations. “Our relationship with NEL has been a crucial factor in the business’s success over more than a quarter of a century and it made clear sense to talk to them once again about this latest stage of our development.” Jonathan Armitage, investment executive at NEL Fund Managers, said: “Formula Plastics has a proven heritage in a specialised sector, as well as a high-quality management team that we know very well. “It’s great to be working with them once again and to see that their ambition to grow and create new North East jobs remains undimmed.” Part of the £120m North East Fund and aimed predominantly at smaller SMEs, the £9m North East Small Loan Fund typically offers loans of between £10,000 and £100,000 to businesses in Tyne & Wear, Durham and Northumberland. It is designed to assist with the creation of over 1,200 new regional jobs in more than 320 SMEs over the life of the fund. The overarching £120m North East Fund will provide financial support for more than 600 businesses, creating around 2,500 jobs and delivering a legacy of up to £80m for further investment into the region. Read More

NEL Fund Managers Investments

74 Investments

NEL Fund Managers has made 74 investments. Their latest investment was in Mesma as part of their Debt on April 4, 2022.

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NEL Fund Managers Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/19/2022

Debt

Mesma

$0.19M

No

1

2/8/2022

Loan

Different Narrative

$0.33M

Yes

1

1/12/2022

Unattributed - II

Exploration & Testing Associates

$0.07M

No

1

11/23/2021

Loan

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$99M

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10

4/28/2021

Loan

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$99M

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10

Date

4/19/2022

2/8/2022

1/12/2022

11/23/2021

4/28/2021

Round

Debt

Loan

Unattributed - II

Loan

Loan

Company

Mesma

Different Narrative

Exploration & Testing Associates

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Amount

$0.19M

$0.33M

$0.07M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

1

1

1

10

10

NEL Fund Managers Portfolio Exits

4 Portfolio Exits

NEL Fund Managers has 4 portfolio exits. Their latest portfolio exit was Warmseal on June 11, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/11/2018

Merger

1

12/14/2015

Acquired

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$99M

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10

6/30/2008

Acquired

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10

1/18/2005

Acquired

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10

Date

6/11/2018

12/14/2015

6/30/2008

1/18/2005

Exit

Merger

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

Acquirer

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Sources

1

10

10

10

NEL Fund Managers Fund History

14 Fund Histories

NEL Fund Managers has 14 funds, including Evolve Mezzanine Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/16/2009

Evolve Mezzanine Fund

Mezzanine

Closed

$4.3M

1

12/31/2008

North East investment Fund 3B

Late-Stage Venture Capital

Closed

$17.79M

1

12/1/2003

North East Investment Fund No.3

Early-Stage Venture Capital

Closed

$31.51M

1

8/1/2002

North East Investment Fund No.2

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$99M

10

1/28/2002

Capital North-East

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$99M

10

Closing Date

4/16/2009

12/31/2008

12/1/2003

8/1/2002

1/28/2002

Fund

Evolve Mezzanine Fund

North East investment Fund 3B

North East Investment Fund No.3

North East Investment Fund No.2

Capital North-East

Fund Type

Mezzanine

Late-Stage Venture Capital

Early-Stage Venture Capital

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Status

Closed

Closed

Closed

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Amount

$4.3M

$17.79M

$31.51M

$99M

$99M

Sources

1

1

1

10

10

NEL Fund Managers Partners & Customers

1 Partners and customers

NEL Fund Managers has 1 strategic partners and customers. NEL Fund Managers recently partnered with The Prince's Trust on September 9, 2016.

Date

Type

Business Partner

Country

News Snippet

Sources

9/7/2016

Client

United Kingdom

NEL Fund Managers Limited NEL Fund Managers Forges Long-Term Partnership with The Prince’s Trust.

Yvonne Gale , chief executive at NEL Fund Managers , says : `` Encouraging entrepreneurialism is vitally important for the future health of the North East economy , and we see this long-term partnership with The Prince 's Trust as a way for us to play a direct role in doing just that .

1

Date

9/7/2016

Type

Client

Business Partner

Country

United Kingdom

News Snippet

NEL Fund Managers Limited NEL Fund Managers Forges Long-Term Partnership with The Prince’s Trust.

Yvonne Gale , chief executive at NEL Fund Managers , says : `` Encouraging entrepreneurialism is vitally important for the future health of the North East economy , and we see this long-term partnership with The Prince 's Trust as a way for us to play a direct role in doing just that .

Sources

1

NEL Fund Managers Team

1 Team Member

NEL Fund Managers has 1 team member, including current Chief Executive Officer, Barrie Hensby.

Name

Work History

Title

Status

Barrie Hensby

Chief Executive Officer

Current

Name

Barrie Hensby

Work History

Title

Chief Executive Officer

Status

Current

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