Business leader Jeremy Middleton has made a further investment in energy cost management company Utilitywise.
Middleton, who was appointed as non-executive director at the South Shields-based firm last year, bought 1,153,846 ordinary shares in Utilitywise, bringing his total interest in the company to 1,793,956 ordinary shares, or 2.48% of the firm.
Utilitywise, which posted an 81% rise in pre-tax profit from £3.8m to £6.9m to the year ended July 2013 following its first year on the AIM, employs about 470 staff.
Middleton, who runs Newcastle-based investment firm Middleton Enterprises, said: “Utilitywise is an outstanding company with a great future. There is a growing need for its services and it is led by a really impressive management team. It is an expanding company which represents a fantastic long-term investment.”
Last week the firm revealed it had secured the first global patent for its Edd:e energy monitoring system.