Bibby Financial Services (BFS) has provided a £6m funding line to Emprise Services, a company specialising in cleaning and security services, which employs 4,500 people in the UK.
The credit line, provided by BFS’s Corporate team in Manchester, will provide working capital to enable growth after a management buyout funded by private equity business Cable Capital Partners.
Enterprise generates a turnover of around £60m each year and has an average of 500 security guards working in London and the South East, with more than 3,500 cleaning operatives.
BFS’s Corporate team is responsible for funding larger SMEs requiring finance packages from £1m to £15m, and has structured over 470 deals in the UK.
Dan Burton, head of corporate (North) at BFS who led the transaction, said: “Emprise is a company which operates on a national basis and boasts high profile clients, vast support infrastructure, and management experience. Given the company’s excellent track record in this sector, we are looking forward to seeing the company grow its position in the industry and partnering with them as they go.”
Mark Beadle, chief executive at Emprise Services, said: “With the investment of Cable Capital and the financing we recently secured from Bibby Financial Services, we will drive the next phase of our growth. Keeping the same management team, our clients will continue to see high standards as always, but the additional funding lines now in place mean we can now realise our potential for the long-term development of our business, growing both organically and by acquisition.”