Property maintenance company secures funding from Genesis Asset Finance
LSEC Ltd, part of the LSEG Group, founded in October 2013 by James Bull & Luke Salvage, has secured funding from Genesis Asset Finance to support its growth. Since starting with a single employee the business has grown to over 20 staff spreading across the whole of the UK.
The company boasts strong relationships with its customers and has secured numerous prestigious contracts to repair coastguard’s outbuildings in numerous outstations. LSEC has also assisted in the maintenance of properties throughout the DWP estates and many High Street sales outlets as well as offering FM support to key healthcare providers nationwide.
As the company has grown, so have demands on cash flow and the company turned to Tony Hedger of A&T Business Associates to assist them. Tony ascertained that the company had assets they could refinance to raise cash and identified Genesis as the most suitable funder due to their ability to over lend on asset values and consider proposals with non-standard criteria.
Tony Hedger, A&T Business Associates, said:
“Genesis’ commercial approach meant they were the best funder for the proposal; being able to over lend on asset values in this circumstance was critical to helping LSEC grow.”
James Bull, director, LSEC Ltd, commented:
“We want to grow and build our business to be known as one of the best building services operations across the South and Great Britain. We focus on excellent service and customer care combined with a passion for reinvigorating and repairing parts of the nation’s built heritage. Genesis Asset Finance’s support has enabled us to continue to do this.”
Eddie Frost, business development executive, Genesis Asset Finance, added:
“At Genesis we pride ourselves on our attention to detail, meeting with prospective clients to discuss their funding needs. In this instance, meeting the director and shareholder led to an understanding of the business case for the investment. Our willingness to travel to meet clients, wherever they are in the UK, combined with a pragmatic commercial approach enables us to provide facilities that others won’t or cant. We’re delighted to support LSEC continue its already impressive growth.”