IGF has provided a £2m asset-based lending line to Insite Contracts Ltd, a high-end office fit out and refurbishment company based in Scotland.
Based in the north of Glasgow, Insite boasts a client portfolio spanning across the public, commercial fit out/refurbishment, industrial and retail markets. Founded in 2004, Insite began its operations providing refurbishment and fit out services primarily within the office and healthcare sectors. Initial success saw the company introduce an additional maintenance/FM service for a number of its key clients, followed recently by the formation of a subsidiary company, Insite Cladding and Roofing Ltd. which also predominantly operates in the refurbishment sector effectively complimenting their existing services. Working across mainland Scotland and the North of England, Insite now employs over 70 people, and achieved a 2015 revenue of £12m - up from £8.7m in 2014.
The agreement, brokered by IGF’s Glasgow office, will allow Insite to take full advantage of the growing demand for its services, and to recruit the new staff needed to facilitate this expansion.
Alan Anderson, ABL director - Scotland, IGF, said:
“Insite is an excellent business to be involved with. The company’s success speaks for itself, as does the emphasis which its management team places on the organisation’s growth and development. This progressive attitude reflects the ethos promoted here at IGF, and for that reason we are excited to take this partnership into the future.”
Scott McMillan, managing director, Insite Contracts Ltd, said:
“We are thrilled to have secured funding from a partner which clearly understands our business. By establishing a straightforward, efficient funding model, IGF has allowed us to focus on continuing our growth, and to deliver in the timescales set out at the beginning of the process.”
This deal comes as the latest in a string of partnerships from IGF, which is rapidly increasing its reach amongst businesses across the UK.