North East adaptive living business aims for expansion with £150k investment

A North East adaptive living business has announced that it is aiming for expansion following a six-figure investment.

Depend Group, created by the merger of Dolphin Stairlifts and Shape Adaptations, has received a £150k Growth Capital Fund investment from NEL Fund Managers.

The company will use the funding to help increase the number of local authorities with which it can work, extend its marketing activity and develop and deliver new products to market.

Stephen Smith, co-owner, commented: “Taking advantage of the opportunity to take on both businesses and bring them together made clear sense and gives us a strong platform on which to build their operations by combining the teams’ impressive skillsets.

“We know from our own experience the challenges that individuals and facilities face in adapting their living spaces and the bespoke solutions we create in response to individuals’ particular situations are based upon many years’ practical experience.

“Our focus for growing the business will remain primarily on our home area, and while we already work with a number of local authorities across the North East, there are others that we’ve not previously had the capacity to target where we know the same needs exist.”

Jane Siddle, investment executive at NEL Fund Managers, added: “The professional and personal experience that Stephen, Mary and Christopher bring to the business make a powerful combination, and it now has the resources required to continue to develop its presence across the region.”

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