£20m ABL facility boosts growth for CF Booth
One of the UK’s leading metal recycling companies, CF Booth has received a flexible £20m asset-based lending facility from Independent Growth Finance (IGF) to support its growth ambitions.
Headquartered and founded in Rotherham in the 1920s, CF Booth has grown from a local metal trader into one of the largest independently run metal recycling companies in Europe. Today the business is still family owned and employs over 200 staff and trades both ferrous and non-ferrous metals and processes recycled materials for a wide range of customers across the UK and beyond.
The facility provided by IGF will support the growth ambitions of the business and enable the group to continue investing in operations and performance improvement. Interpath Advisory assisted CF Booth on the deal.
Christopher Woodcock, FD at CF Booth said: “With IGF’s support we have the working capital we need to accelerate our growth and enhance our operational performance. We are extremely positive about the new opportunities this investment will create. It further strengthens our position, allowing us to invest further in our operations, demonstrating our commitment to provide for our customers.”
Richard Spielbichler, ABL director at IGF in Manchester, commented: “With a proud legacy and a clear strategic direction, CF Booth is well positioned to focus on their future growth and success. This investment will create a step change in the business, allowing them to invest in their operations and increase their capabilities to secure further new contracts.”