ABN AMRO Commercial Finance provided £4 million ($5 million) in invoice discounting to Recruitment Investments, a UK-based group of business owners who specialize in buying and selling organizations within the recruitment sector. The group 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 invoice discounting from ABN AMRO Commercial Finance was comprised of a £4 million ($5 million) group assured confidential invoice discounting, which meant Recruitment Investments was 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.
“The team at ABN AMRO Commercial Finance kept the process organized with excellent communication every step of the way. This new funding solution means we’re able to fully focus on our continued business growth,” Gareth Stanger, group director at Recruitment Investments, said.
“This is the fifth acquisition that we have worked alongside Recruitment Investments on as their working capital partner,” Ben Pittam, business development manager at ABN AMRO Commercial Finance, said. “It’s been a pleasure working with them and we’re proud to have delivered another flexible funding solution that will optimize their strategic growth as well as bridge gaps in working capital.”
