A TYNEDALE firm that specialises in motoring and insurance law is in the fast lane towards becoming a UK-wide operator following a six-figure investment from the Finance For Business North East Growth Fund.

Clifford James Consultants Ltd (CJC) is one of the UK’s market leaders in the provision of legal services around the diminution in value of motor vehicles, which is the loss in value of a vehicle following a road traffic accident.

The Stocksfield-based business worked with regional fund management firm NEL Fund Managers to secure the growth fund investment in 2014, since when it has almost doubled the size of its now 12-strong team and established its practises as the accepted standard for its industry.

The investment capital was used by CJC to upgrade its operational systems and recruit and train the staff needed to deliver its business plan.

Having now exited the investment, the management team is planning to use the platform it has created to make the firm a national player.

CJC works with a wide range of blue-chip companies, private fleet owners, vehicle leasing firms and insurance companies, including some of the largest leasing companies and fleets in the UK.

It set up its specialist diminution claim service in 2006, and acts for both clients making a diminution claim and insurance companies looking to defend cases with no merit.

Managing director Stewart Fairhurst said: “It’s not always easy for smaller firms that have the potential to grow to find the capital they need to enable this to actually happen, but the growth fund investment made this possible for us and it’s helped to put us onto a very firm footing for even greater progression in the future.”

Investment executive at NEL Fund Managers Jane Siddle explained: “The growth fund was specifically designed to help North-East businesses make a step change in their operations, creating new regional jobs and wealth along the way. CJC has made excellent use of the capital that we enabled them to access, and the success they’ve enjoyed over the period of the investment is hopefully an indication of even better things to come.”