Cheshire recruitment firm signs £10 million funding deal

Cheshire-based recruitment firm NES Global Talent has signed a new £10 million funding deal with RBS Invoice Finance.

The deal sees the Altrincham headquartered company return to RBS Invoice Finance following a nine month break when it refinanced to a US based facility.

NES Global Talent provides recruitment services to the oil and gas, power, infrastructure, chemical and life sciences sectors worldwide.

The business was established over 35 years ago and now operates more than 40 offices in 26 different countries.

In the last year the company has achieved impressive levels of growth and profitability with group turnover increasing by 25.3% to $977.4 million (£627 million). EBITDA was also reported at a record high of $52.3 million (£33.3 million) up 35.8% from $38.5 million (£24.3 million) the previous year.

RBS Invoice Finance has provided NES Global Talent with a UK based £10 million invoice discounting line. The funding will assist the company in the achievement of its growth objectives, supporting its day to day working capital needs in the UK whilst providing additional headroom for growth.

Andrew Collis, UK and Europe finance director at NES Global Talent, said: “Until last year we had worked with RBS Invoice Finance for 14 years.

“During that time we had developed a great relationship with the team, found their systems easy to use and the financial support we were given was excellent.

“As a result it made perfect sense for us to return to RBS Invoice Finance for the working capital support we now need to support our growth both in the UK and overseas.

“The invoice discounting line we have secured provides us with a flexible and user friendly facility that we are familiar with and gives us excellent levels of headroom enabling us to continue to invest in our growth and expansion. I am pleased to be working with Paul and the team again and look forward to achieving great results for the company.”

Paul Morgan, relationship manager, corporate at RBS Invoice Finance, added: “We are absolutely thrilled that NES Global Talent are back onboard and that we have re-established our relationship with them.

“The fact that they managed to achieve such a significant refinance last year speaks volumes for the strength of the business and the abilities of its management team and I now look forward to working with them once again in the next stage of their journey.

“The fact that they have chosen to return us is very pleasing and I am delighted to welcome them back.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →