Saturday, August 15, 2020

Recruitment conglomerate lands £4m funding solution

Loughborough-based Recruitment Investments, a group of business owners who specialise in buying and selling organisations within the recruitment sector, has secured a £4m funding solution from ABN AMRO Commercial Finance.

Recruitment Investments is headed up by Recruitment Investments Limited and consists of trading entities: Champion Employment, Rugby Recruitment Services, Next Recruitment, Professional Staffing Services, Gill Cooke Personnel, Motion People and Enable Recruitment Group.

The Group had a plan in place to grow a conglomerate with a combined turnover of £40m through acquisitions. Despite the challenging macroeconomic climate resulting from COVID-19, the lockdown period and the ensuing uncertainty, the growth strategy remained in place. This resulted in the successful completion of two acquisitions during this time.

The funding solution, Invoice Discounting from ABN AMRO Commercial Finance, comprised a £4m Group Assured Confidential Invoice Discounting, which meant Recruitment Investments were able to unlock funding from an asset base where debtors were the main asset. This solution paves the way for acquisition growth and provides working capital support to bridge a working capital gap between operational costs and income from customers.

Gareth Stanger, Group Director at Recruitment Investments, said: “The team at ABN AMRO Commercial Finance kept the process organised with excellent communication every step of the way. This new funding solution means we’re able to fully focus on our continued business growth.”

Ben Pittam, Business Development Manager at ABN AMRO Commercial Finance, said: “This is the fifth acquisition that we have worked alongside Recruitment Investments on as their working capital partner. It’s been a pleasure working with them and we’re proud to have delivered another flexible funding solution that will optimise their strategic growth as well as bridge gaps in working capital.”

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