ELECTRONIC components business Connor Solutions is expanding following an investment by a regional venture capital fund.
Insight Capital is investing a six figure sum through its Capital North-East fund in the business, based in Houghton-le-Spring, Wearside.
The investment will allow the company, which employs 110 people, to recruit another 20 staff, including ten already employed on a temporary basis.
Connor Solutions was established in 1999 and has built its reputation using high-technology equipment to assemble electronic components into printed circuit boards.
Finance director Phil Hall said: "Insight clearly understood the issues affecting our market and the potential benefits that this investment would bring to our business.
"The investment will allow us to further strengthen our balance sheet and forge ahead with our plans for 2004."
Insight fund manager David Wilson said: "Connor Solutions had a very clear, structured plan for how their investment would be used and how it would allow them to develop the business.
"We are always keen to work with companies like Connor Solutions, which can demonstrate excellent growth prospects and a single-minded determination to succeed."
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