A North East sports travel and events firm is gearing up to grow its presence in North America with the help of a £500,000 investment.
Nirvana Europe organises travel and accommodation for major global sporting organisations and events, including the European and Global Ironman series, British, USA and World Triathlon and the Great Run event series. The company was originally set up in 1999 on the back of its relationship with the Great North Run, a relationship which continues today, and it has a 24-strong team at its Silverlink Business Park base which is responsible for delivering its global events calendar.
The Wallsend firm, which marks its 25th anniversary this year, already has an event management presence in North America, but now it is looking to boost its activity in the US and Canada after working with regional fund management firm NEL Fund Managers to bring in the six-figure investment from the North East Growth Capital Fund. Up to six new North East jobs are expected to be created as the business grows and it is also mulling the launch of a permanent North American office.
The team is set to continue to build its portfolio of events in the UK and is looking at opportunities for breaking into new sports, with swimming and athletics high on the agenda. Other sporting events and activities Nirvana Europe is currently involved in include parafencing, wheelchair rugby, the Spartan Race series and the Hyrox indoor fitness championships.
Nigel Morris, managing director at Nirvana Europe, said: “The opportunities keep coming for us, both at home and overseas, and it’s essential that we manage them carefully to ensure we’re growing the business in a sustainable way. We’re already active in North America, where we’ve found that there aren’t many competitors that can provide the comprehensive services that we deliver at around 150 events every year, and we’re confident that we can make big strides there in the medium term.
“We have people on the ground there already, but by setting up a permanent North American office, we’ll have the facilities in place to build the business and to train our workforce to deliver events to the high standards that we set. There’s also plenty of potential for the range of sports with which we’re involved to grow, with our long-term presence in the triathlon giving us all the experience we need to deliver swimming and athletics events.
Jane Siddle, senior investment executive at NEL Fund Managers, added: “Nirvana Europe has an enviable track record of successfully delivering major sporting events and has a clear plan for using this experience to build the business in different markets around the world.”
Steven Foley, relationship development director at CCBS Group in Newcastle, and Barry Gill, director at TIG Group, advised the Nirvana Europe management team through the investment process.
Mr Foley said: “We were delighted to work with Nigel and the team at Nirvana on the funding of their expansion plans. When we understood what they were looking to do and what level of funding was required, we quickly identified NEL as the ‘go to’ funding partner to help and support them. It was an excellent team effort to reach a great conclusion that places the business on a sound footing for taking advantage of the opportunities in front of them.”