Overseas help flows into firm

A MORPETH business has received overseas investment after receiving support from a local accountancy practice.

Tait Walker, which has an office in the market town, has assisted Techdrill Ltd with the transaction and has also helped to sort out other firms across the North East with similar deals.

Techdrill, based in Loansdean, was recently bought by American multi-national Oilwell Varco. The company manufactures high-pressure pipeline and API-standard drilling equipment.

Tait Walker Corporate Finance Partner Steve Plaskitt said: “We have seen many deals take place recently which involved an overseas buyer and in each situation they have sought to invest new money in the UK and to help grow the business, creating jobs and a boost for the North East economy.

“It is inward investment such as this which has enabled us to increasingly work across a vast variety of industry sectors including manufacturing, engineering, power and renewable, in countries across the globe.”