Independent film and television production company Dene Group has secured £795,000 to expand its operations and invest in new equipment.
Independent film and television production company Dene Group has secured £795,000 to expand its operations and invest in new equipment.
The investment in the Newcastle-based business consists of £500,000 from FW Capital and £150,000 from NEL Fund Managers. One North East, a regional development agency, and the Royal Bank of Scotland have also backed the business with a further £100,000 and £45,000 respectively.
Founded 19 years ago by six-time Royal Television Society award winner Steve Salam, Dene Group claims to be the largest provider of commercials to ITV’s regional broadcast stations and has produced nearly 5,000 commercials, corporate films and broadcast TV programmes. The group’s subsidiaries include Dene Films, Qurios Animation, Metropolis Pictures, Imagine TX post-production and Riff Raff, an IPTV development company.
Salam comments: ‘This investment will underpin our growth strategy significantly and enable us to enhance our competitive advantage. We’ll be able to purchase updated equipment and moving to new headquarters will improve our efficiency. It will also provide us with an injection of working capital.’
