Hull IT and telecoms services company, The One Point, has secured a £1.4m debt funding package to support a management buy-out and fuel its future growth. The funding comes from Mercia’s SME Loans fund and NPIF – Mercia Debt Finance, which is part of the Northern Powerhouse Investment Fund. The deal will give founder Martin Lauer a majority shareholding and allow Spectrum, a Hull-based managed print and digital services firm, to exit the company and focus on its new digital growth strategy. The One Point, founded in 2005, offers a range of IT services and support, and has experienced significant growth in recent years. The company expects to create an additional 20 jobs by the end of 2025.