A WIGAN technology company has secured a multi-million pound investment that could create a host of new jobs in the borough.
Valueworks, founded in 2000, has sold a stake worth around £2.5m to investment firm HgCapital.
The founding shareholders of Valueworks, whose head office is on Smithy Brook Road, will re-invest a large majority of the money generated from the sale back into the business.
The company, which employs more than 100 staff and also has offices in Nottingham, Newcastle and Gloucester, hopes to more than quadruple its revenues within three years as a result of the deal.
Director and co-founder Iain Walsh said: “We have built Valueworks into a successful company creating many high quality jobs for local people and we are very proud of our Wigan roots.
“The company had got to the point where we felt we needed expert input to help to take it to the next level and we have found exactly the right partner to do that.
“We are looking forward to a bright future, one which includes developing even more jobs for local people and impacting positively on the local economy in Wigan.”
Valueworks provides e-commerce systems to merchants, landlords and contractors in the UK social housing and construction market.
The systems allow firms to manage their supply chains while trading online. The business has more than 600 clients, including the Association of Greater Manchester Authorities which includes Wigan Council.
Chief executive Jeff Dandridge, said: “Finding a blue-chip commercial partner such as HgCapital who could really help us take our technology service to a much wider audience is a real coup for us and we’re really looking forward to Valueworks moving to its next stage of development.”
David Issott, from Hg Capital, said: “Valueworks provides an essential service to housing landlords and suppliers and we look forward to contributing our specialist knowledge of these business models to further develop its products and services.”