New team in charge at NTE Limited
Sunderland communications and Internet service provider NTE Limited is in new hands after a successful management buy-out.
The deal secures the jobs of the Moorside Park-based firm’s current 22-strong workforce and there are plans in place to grow the head count by 30% as part of the company’s future growth strategy.
Founded in 1987, the company supplies a range of communications technologies together with network and cloud-based service hosting, which are delivered by its inhouse technical team and onsite field engineers.
The buy-out team consists of current Managing Director Pauline Herring, along with Operations Director John Patterson and Sales Director Phillip Herring.
Pauline has been with the business for more than 20 years.
She said: “We are very proud of what we have achieved as a management team at NTE, which we aim to build upon as owners of the business.
“NTE has a loyal and talented workforce along with a dedicated network of resellers that have played a part in our growth over the years. We have exciting plans for the future, which will help expand our team and strengthen our UK presence.”
Funding for the deal was provided by HSBC Bank plc, with corporate advice for the management team delivered by Square One Law and Clive Owen Corporate Finance.
Angus Allan, Corporate Finance Partner at Clive Owen said “The business is well positioned to deliver growth.”