New operation eyes up region's growing firms

A NEW company has been launched with a mission to acquire and grow profitable SMEs in the North East.

- COREENA FORD

Alpro Capital, in Houghton-le-Spring, has been founded by experienced investor David Alprovich, with the aim of snapping up and enhancing established small and medium-sized enterprises across the region.

Now Newcastle's Middleton Enterprises has announced its support for the new venture, which will focus on acquiring profitable businesses with Ebitda (Earnings before interest, taxes, depreciation and amortisation) in the range of £250,000 to £750,000. The venture’s strategy is to invest in and grow the businesses by supporting existing teams, retaining well-established brands, and helping them to reach the next stage of their development.