L-r: Paul Scivill, Managing Director of Televideo Limited, Pete Sorsby, Investment Manager at Enterprise Ventures and Ken Cooper, British Business Bank
A Sheffield-based outside broadcasting company which is one of the UK’s leading suppliers of sports programming has secured a £150,000 loan from NPIF – Enterprise Ventures Debt Finance, which is part of the Northern Powerhouse Investment Fund.
Televideo will use the funding to invest in equipment and upgrade an additional outside broadcast unit to use 4K or Ultra HD – the new high definition TV technology. Established over 40 years ago, Televideo produces hundreds of hours of original content each year for broadcasters including the BBC, Channel 4, Sky Sports, BT Sport and Premier Sports.
It also acts as host broadcaster on a range of major stand-alone events such as the European Aquatic Championships, the Rugby League World Cup and the ICC Women’s World Cup.
The company employs 59 staff at its headquarters in Sheffield and its office in Whitburn in Scotland, and plans to create a further five jobs over the next 12 months. Televideo operates a fleet of 10 outside broadcast units of varying sizes and specifications.
Peter Sorsby, Investment Manager at Enterprise Ventures, part of Mercia Technologies PLC, said: “Televideo is one of the UK’s largest and longest established outside broadcasters and is highly respected in its field. With technology continually changing in the TV and entertainment sector, it needs to invest in regular equipment upgrades to maintain its position as an industry leader. This funding will allow it to meet the growing demand for outside broadcasts using the very latest high-definition technology.”
Ken Cooper, Managing Director at British Business Bank, said: “We are delighted that the Northern Powerhosue Investment Fund has provided Televideo with the investment needed to maintain their position in the industry. Through the support of our fund managers, NPIF will continue to seek out similar high-growth companies in need of funding in the region.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.