BFS provide £6m invoice discounting facility to Newcastle recruitment agency
Bibby Financial Services have provided a £6m funding facility to a recruitment agency that provides talent to leading blue chip organisations and household names.
The client was subject to a management buy-out and has grown rapidly since. With offices across the UK, it also has a growing international client pool.
As well as providing hiring solutions for temporary and permanent recruitment, Bibby’s client works with businesses looking to hire senior management including executive search and board advisory services.
The agency having used invoice finance in the past and dissatisfied with its banking partner, the business was introduced to Bibby’s corporate team. Bibby were able to structure a £6m invoice discounting line, including funding U.S. debt – a key restriction of the business’s previous lender.