Recruitment company targeting £10m turnover with new funding

Bibby Financial Services (BFS) has provided a £800,000 funding facility to D&A Recruitment Ltd., an independent recruitment company specialising in a range of sectors across the UK.

Based in the East of England with offices in Cambridge, Bedford, Huntingdon & Essex, D&A Recruitment offer across-the-board recruitment services. The agency provides temporary and permanent placements and has contracts with companies including Hotel Chocolat.

Established in 2012, the business has successfully grown its turnover by 20% year on year, increasing from £400,000 seven years ago, to around £4.5m today.

The funding package structured by BFS’s Corporate team will boost D&A Recruitment’s working capital operations supporting its growth ambition of achieving a £10m turnover.

Tony Clampin, corporate manager at Bibby Financial Services, said:

“D&A have a strong track record of achieving year on year growth. We were pleased to be able to structure a facility that frees up their cashflow so Dan and the team can focus on managing day-to-day business and achieving their future growth targets.”

Dan Davis, managing director at D&A Recruitment, said:

“In recruitment, the average payment terms with customers range from 30-60 days. BFS’s funding provides the working capital we need to meet payments and grow the business. It was a pleasure to work with the Corporate team who understood our commercial needs and were able to structure a facility that supports our plans for continued growth.

Manchester-based Volz Filters acquires with £500,000 funding from Santander

Manchester-based VOLZ Filters UK Ltd, a specialist manufacturer of air filter products for air conditioning, ventilation and painting applications, has secured a £500,000 funding package from Santander Business Banking to support the firm’s acquisition-led growth strategy. This latest acquisition is its fourth in the last two years and through its committed to a long-term partnership with Santander, intend to acquire further companies in the very near future.

Their latest acquisition; Midland Filter Products Ltd, located in Northampton is well-established manufacturer and distributor of associated products to that of the VOLZ Group. They are a producer of energy efficient air filters which improve air quality and reduce pollution. The firm specialises in air filtration solutions to remove harmful particulate matter from the air that we breath, delivering clean air in indoor environments. The firm has grown rapidly, in part, by offering free site surveys so clients get the optimum performance from its filters. This follows the acquisition of Swan Enviro Limited, 2019 – Kitchen Extract and Canopy Manufacture, M&W Precision Engineering Limited 2017 – a specialist toolmaking company and Pressed Parts Company Limited 2018 – a specialist precision press parts manufacture.

VOLZ Filters UK Ltd’s parent company, VOLZ Luftfilter GmbH & Co. KG, was established in 1966 in Germany by Manfred Volz and his wife Ella, with the UK arm set up in Manchester in 2006. The group now has over 700 employees and owns factories in Germany, Slovakia and the UK. In line with its growth-led expansion plan, VOLZ aims to acquire additional businesses in the UK on a select, long-term basis that complement its UK product and service proposition.

The £500,000 in funding from Santander Business Banking was instigated through the Business Banking Switch, an incentivised switching scheme launched in February 2019 to reward eligible Royal Bank of Scotland customers who switch their business current accounts to participating banks such as Santander. The scheme has been designed to provide offers that are better than those normally available on the market, such as cash incentives.

James Marsh, group finance director at VOLZ Filters UK Ltd, said: “We are delighted to be able to secure the acquisition of Midland Filter Products Ltd, and the funding from Santander has been central in helping us realise this exciting growth opportunity. Our aim is to continue to acquire businesses on a select basis which will support our current product suite and aspirations in the UK market.”

Danielle Simpson, relationship director at Santander Business Banking, said: “VOLZ Filters UK is right at the centre of the wider social and business drive for healthier working environments and clean air solutions and we are delighted to be supporting the Manchester team to expand its footprint in the UK. Santander Business Banking’s aim is to support growth-focused businesses to meet their aspirations through what we believe is the most competitive range of products and services in the SME sector.”

Marketplace lender provides £950,000 to Wirral property development

Assetz Capital has supported WGJ Properties with a £950,000 loan for the development of 14 two-bedroom apartments in New Brighton, on the Wirral.

The apartments include two bedrooms, a bathroom and reception area as well as an integrated kitchen. The properties also boast private parking with a Church, library and health centre all nearby. This project is WGJ’s second property development of this scale, and its first site on the Wirral.

The loan will be used for the construction of the entire facility which is based on Magazine Lane – Wallasey, New Brighton. The average price of one apartment is £120,000, with the build due for completion in February 2020. The deal was introduced to Assetz Capital by John McNamara, CEO at Focus Commercial.

Since establishing in 2013, Assetz Capital has lent over £900m to UK SMEs, funding projects such as commercial properties, housing developments, care homes and purpose-built student accommodation (PBSA). The marketplace lender funded new housing projects last year representing the equivalent of 1 in every 100 new homes built.

William Roscoe, managing director of WGJ Properties, said “Working with Assetz Capital and Focus Commercial has been an efficient process, aided by the speed of the payment process which really benefited the smooth running of the build. This is our second major development and we are proud to be increasing the availability of homes in the Wirral with this project.”

Mark Davidson, relationship director of Assetz Capital, said: “Funding the construction of this development has been an exciting process and one that we were keen to support. We felt that this site would not only benefit the area of New Brighton, but also support us on our mission to positively affect the UK housing market.”

John said: “Working with Mark at Assetz has been excellent. The lender drawdown and terms of lender due diligence were agreed within six weeks, meaning we achieved an incredibly quick turnaround. This shows the true value of an excellent working partnership between broker and lender, and Mark and his team have been fantastic.

Arbuthnot Commercial ABL supports EA-RS Fire Engineering’s acquisition of Circum with £2m facility

Arbuthnot Commercial ABL, the specialist asset based lending arm of Arbuthnot Latham, has completed a £2m asset based lending (ABL) transaction in support of the strategic acquisition of Circum Ltd, a fire protection services specialist, by EA-RS Fire Engineering Ltd. (“EA-RS”). The facility comprises a flexible confidential invoice discounting line and a term loan.

EA-RS, is a leading regional specialist in fire detection, alarm, gas suppression and electrical services. For over 20 years the business has provided support to the UK’s construction and facilities maintenance sectors and blue-chip corporate clients, whilst developing manufacturing partnerships which drive long term stability and maximum operability.

The acquisition has enabled EA-RS to become a certified provider of sprinklers; a product which they are often asked to deliver as part of a total fire safety solution.

Mark Wheeler, managing director of EA-RS Fire Engineering Ltd, said: “It was only when we discussed the acquisition with Arbuthnot Commercial ABL that we got traction on the deal. As a team they are phenomenal to work with, offering an entirely different experience to that of other providers we have worked with in the past. Their team sought an in depth understanding of our business and what we wanted to achieve, while ensuring we arrived at a pragmatic solution that worked well for both parties. This is very much the beginning for our business. We look forward to making further acquisitions as we further our geographic expansion and product offering.”