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13th May 2019

Teeside film company marks five-year anniversary

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Northern Powerhouse Investment FundNPIF FW Capital Debt FinanceTees Valley Combined Authority LEP

A Middlesbrough-based film company is eyeing further growth after celebrating five years in business following investment from the Northern Powerhouse Investment Fund earlier this year.

Ithica Films, which was founded in 2014 by managing director Matt McGough, produces film content for businesses.

Located at the Boho One development, the company offers three edit suites, various camera movement rigs and aerial drones. It has completed projects in a range of sectors, attracting clients like Wilton Group, Thyssenkrupp, Newcastle Building Society and the Tees Valley Combined Authority.

McGough said: “People put a lot of trust in us from day one and having the dedication to our craft is something that people have really valued from us.

“It’s been a great journey for us so far. To start from nothing five years ago, to build the momentum, team and body of work that we have is incredible.”

The company has maintained a core team of six staff members, while recently hiring two new recruits in filmmaking and marketing to grow the total number of employees to eight for 2019.

In February, Ithica was backed with a six-figure investment from the Northern Powerhouse Investment Fund (NPIF).

McGough added: “It is an important milestone to pass and it marks the end of the start-up phase for us.

“The quality of the content we create has been increasing constantly and I’m excited about what we can make happen in the future. We’re already looking at additional edit capacity with one eye on what we do about our facilities and capabilities longer term.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719

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