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Investment for local swimming brand from North East Fund

Investment for local swimming brand from North East Fund

A North East company has invested £700,000 in creating two new, state-of-the-art pools as part of its on-going commitment to helping young people learn to swim.

The scheme is the brainwave of Nemo Swimming and SwimNE founder and entrepreneur, Phil Groom, who first had the idea five years ago. Both companies have been members of North Tyneside Business Forum for a number of years.

PaddlePod will initially see the creation of two purpose-built pools, which will both be open this autumn. The company has taken over two sites – one at Silverbirch Drive, Newcastle which will become PaddlePod @ Newcastle and the other the former Clarks Bakery at New York Road, Shiremoor which will be PaddlePod @ NorthTyneside – with the transformation currently underway.

Along with the two pools, each facility will offer a soft play area and café, which can be used by families who have children swimming or as a pop-in for anyone in the area, along with modern changing rooms and comfortable viewing galleries.

As part of the project, PaddlePod has worked with regional fund management firm NEL Fund Managers to secure a £500,000 investment from the North East Growth Capital Fund Supported by the European Regional Development Fund.

“We are very grateful to the venues we have been based in over the past years which have served us very well,” he said.

“But now we have been able to start with a blank canvas and ensure that PaddlePod takes into account everything that parents have told us over the years would make a difference.

“We recognise that parents want ways to keep their other children entertained while the classes are taking place and also want first class café facilities, along with being able to park close by.

“Hopefully we’ve developed a concept that will tick every box, not just for families who are bringing their children to learn to swim but also as a real hub for the community.”

Phil, a former swimming coach, set up SwimNE in 2006 for adults and children, followed by Nemo Swimming in 2009 for babies, toddlers and pre-schoolers to learn to swim.

Both companies have enjoyed huge success, with more than 2500 children a week taking part in classes across SwimNE and Nemo Swimming.

The new venture will see PaddlePod Newcastle, near Gosforth Park, offering a 25m x 8m pool and Shiremoor a 15m x 7m pool, with both offering state-of-the-art facilities.

Jane Siddle, investment executive at NEL Fund Managers, adds: “Swim NE has a very strong regional brand, a long track record of success and a clear idea of how the business is going to evolve in the coming years.

“It’s exciting to be involved with such an innovative project and we’re sure the new pools will make a big splash with customers young and old.”

The North East Growth Capital Fund has been designed to create around 790 jobs in more than 70 regional firms over the life of the programme and offers unsecured investments of up to £500,000 to established businesses looking to realise their growth potential.

NEL Fund Managers is actively looking for potential investees from Tyne & Wear, Durham and Northumberland to put their investment ideas forward.

The overarching £120m North East Fund will provide financial support for more than 600 businesses, creating around 3,500 jobs and delivering a legacy of up to £80m for further investment into the region.

For more information about members Nemo Swimming and Swim NE visit https://nemoswimming.co.uk/ and https://swimne.co.uk/



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