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TBI Solicitors has successfully overseen the introduction of a new corporate structure to facilitate the continued growth of one of the region's most successful catering industry suppliers.
The new structure has enabled Mike Fenwick, the wholesale catering butchers firm located in Newton Aycliffe, to introduce a new business partner and investor, Nick Watson. This has allowed the business to complete the planned move to larger premises which it announced at the end of 2008. TBI's commercial property department has also been involved in securing the lease on the new premises which will enable the operation to grow, and will provide the butchers with an onsite trade counter.
John Walters, TBI's head of corporate law worked alongside Graham Cornforth of Haines Watts Chartered Accountants to finalise the deal, while NEL Fund Managers Limited provided some funding for the project.
John said: “Mike Fenwick is well known in the North East catering trade, and with this new structure in place, and the increased investment it brings, the company will continue to go from strength to strength. It is good to see a local firm growing confidently, especially in these challenging economic times.”
Mike Fenwick added: “TBI was recommended to us and has helped us with the formation of a limited liability partnership (LLP) structured to accommodate investment and continued growth. Their guidance has been clear and very professional, and enabled a smooth introduction of the new business partner. The company's planned expansion into its new premises is now well on track, and we should be in our new home shortly after Easter.”
Graham Cornforth, corporate finance manager for Haines Watts, said: “At a time when many businesses are in need of support our ability to help secure a substantial grant and additional business funding for Mike Fenwick demonstrates that it remains possible to secure funding for good projects”.
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