A Preston company hopes to create 10 new jobs after acquiring another firm with the help of a six-figure loan from Lancashire County Council’s Rosebud Finance scheme.
Valuechain.com, which supplies advanced manufacturing software, has taken on the Surrey-based Tricorn Systems group in what is planned to be the first in a series of acquisitions.
As a result, Valuechain.com is looking to create the new roles at its Preston headquarters over the next three years, while retaining the existing Tricorn team in Farnham and integrate their systems with those at Valuechain.com
Its systems, which help companies to improve productivity and collaborate with suppliers, are used by Bentley Motors and Bombardier Aerospace as well as hundreds of manufacturing SMEs.
Tom Dawes, CEO of Valuechain.com, explained: “This is the first of several acquisitions we are planning to consolidate niche technology companies servicing the manufacturing SME sector and we are really excited about the journey we have started.
“We plan to build on this core infrastructure to scale up our operations in the UK and overseas through strategic global partnerships.”
Rosebud is a finance package supporting Lancashire firms to grow and expand their business.
It is managed by Enterprise Ventures on behalf of Lancashire County Developments Ltd (LCDL) – the county council’s economic development company.
Paul Taberner, of Enterprise Ventures (pictured with Tom Dawes), said: “Advanced manufacturing software is key to improving the competitiveness of industry. Valuechain.com’s buy and build strategy aims to make it a leading force in the market by bringing together companies with complementary products and building a pool of expertise.”
Andy Walker, the county council’s head of business growth, added: “Rosebud is keen to support home-grown companies and attract high-quality firms into Lancashire.
“We’re pleased that we are once again able to support ValueChain. It’s always a strong endorsement of us when a company returns to Rosebud to support their ambitions to grow their business and create high-value jobs.
“Our aim is to help companies like Valuechain to widen their global reach from their headquarters right here in the county, thanks to the support they receive and the many positive aspects that make Lancashire such a great base for business.”