North West recycling group receives £2m facility from Cynergy Business Finance
Link Waste Group, a jointly owned group of waste management specialists based across the North West, has secured a £2m asset-based lending facility from Cynergy Business Finance (CBF).
Comprising Link Paper Recycling Limited and Link Recycling Limited, the group focuses on providing businesses with total recycling solutions for all waste products. Founded in 2015, the group now consists of a 240-strong team, and has a strong presence across the North West, with headquarters in Liverpool and Wigan, as well as an additional site in Manchester.
Created with a mission to improve the way the UK manages recycling in order to divert waste from landfills and reduce carbon emissions, the group’s impact is already tangible. To-date, it has successfully recycled 186,000 tonnes of paper, which is equivalent to 500,000 trees. The team has also saved 400,000 tonnes of carbon emissions.
After a series of new contract wins for the business leading to its busiest month to-date, Link Waste Group required the additional funding to help further scale its operations and continue increasing its order book. CBF worked with the business to provide a flexible facility that complemented its current structure, as well as supporting the businesses growth ambitions of achieving in excess of £20m.
Ben Donnelly, director and founder of Link Waste Group, said: “The sustainable disposal of business waste is an essential aspect of reducing the impacts of climate change, and Link Waste was founded to address this pressing need. The impact we’ve already been able to make has been incredibly gratifying to see, allowing us to reach a position to continue to grow the business and team to expand this work.
“The CBF team made the change over from our existing providers seamless and simple, making regular visits to our site to ensure our team had all the necessary training and support. Since the changeover, we have continued to grow rapidly and the CBF team has been quick to respond, doing everything possible to support cashflow through this exciting period. I look forward to continuing to work with the team and delivering on our ambitious growth plans.”
Luke Fitzsimmons, corporate sales director at Cynergy Business Finance, added: “The strength of the team at Link Waste is evident in just how successful the business has been to-date. It was a pleasure to work with the team, allowing us to take a collaborative approach and ultimately support its impressive growth plans. Given the importance of the work the team does, helping to build a more sustainable waste management framework, I look forward to seeing the business continue to go from strength to strength.”
