The founder of Teesside media agency Social Allies has bought back 100% of the shares in the business after a successful period of growth.
Jessica Tucker founded Social Allies in 2019 and secured funding from SaaS investment company Northern Stable to help develop the business.
The company has since doubled its turnover and boosted its client portfolio to more than 40 businesses, including Michael Poole, Wolviston Management, Wilton Engineering and Bespoke Financial.
Following a successful 2020, Ms Tucker has now bought out Nortern Stable’s shares in Social Allies, and once again owns 100% of the company.
The business, which has recently relocated to Preston Farm, in Stockton, is now looking to grow its revenue by 25% over the next year.
Ms Tucker said: “Despite the challenges of the past year, Social Allies has been able to grow significantly and is now at the point where I can continue to build the business independently. I am so grateful to Dean, Mark, Rich and Tim at Northern Stable for the opportunity, and I have loved working together to build Social Allies to the point where I am now a 100% shareholder.
“I am immensely grateful for the support of these local business owners and their mutual desire to create a local support chain mentality. I am also extremely grateful to our clients, who recognise it’s a testing time but remain committed to growth.
“Our success is a testament to the forward-thinking businesses we work with recognising that, in these unprecedented times, effective social media, brand visibility and marketing are essential.”
Northern Stable was formed in January 2019 and invests in new tech start-ups, providing them with finance during their initial growth state. It also provides firms with office space, support, and financial management advice.
Dean Benson, non-executive chairman of Northern Stable, said: “As a proud Teessider, I’ve spent my career living and growing businesses in the North East. Through this, I know first-hand that the region is home to some of the UK’s best and brightest creative and digital talent.
“To harness that potential, we need to continually invest in the regional digital community, creating thriving businesses wherein they can grow, develop their careers, and even start new local enterprises of their own in the future.
“We were thrilled to be able to play a part in Social Allies’ business journey – they are a fantastic new business that are already garnering a strong local and national reputation for the great work they do. I and the rest of the team at Northern Stable look forward to watching their continued success in the months and years to come.”
