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.