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Securing a position for growth

How we helped a security recruitment business with an invoice finance facility.

Securit East Midlands

Rick Cooke provides security staff to industries across the Midlands via his recruitment business Securit East Midlands.  He has over 30 years’ experience in the industry.Rick has built a solid business with many high-end clients so when his former training partner, Frazer Tranter, said he was selling his security firm to start a new property venture, Rick saw the opportunity for growth and decided to purchase Frazer’s company.

Rick was a long standing customer of Aldermore after they were recommended to him from a professional contact at a leading global bank, so, when he needed improved cash flow to assist with the take-over he approached Aldermore for help.

From strength to strength

Recognising the strength of Frazer’s firm, Rick set about incorporating Securit into his business Securit East Midlands. Aldermore provided £700,000 in confidential invoice financing, along with an advance of £85,000, which meant Rick had the funds he needed to acquire Frazer’s firm quickly without his clients being impacted. 

The invoice finance service was set up within a week so that Rick could purchase Frazer’s business and continue with what he does best, supplying quality security personnel to the businesses of the East Midlands. Under the invoice finance arrangement Rick can now file his invoice by 1pm and get 85% of the invoice by 9am the next day. This is helping Rick’s cash flow and ensures he never has to turn away a business opportunity.

Seeking out a financing facility

Stefan Radymski, Regional Sales Manager at Aldermore said: “Rick’s business is now going from strength to strength: business opportunities and acumen are abundant across the East Midlands region and it is Aldermore’s aim help firms make the most of those opportunities; Rick’s story is proof that we’re succeeding.”

 

See what our Bank can do for you…

If you would like to find out more about how Aldermore could help you achieve your business dreams you can read more about how we have helped companies just like Steve’s by visiting www.aldermore.co.uk/invoicefinance or you can speak to one of the team directly by calling 0800 721040

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  • Finance
  • Business
  • Invoice Finance
  • SME
  • Case Study
  • Finance

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