Liverpool’s Ventilation Surveys targets £5m turnover with six-figure finance facility

Liverpool-based Ventilation Surveys & Services Ltd has secured a £750k invoice finance facility as it aims to nearly double its turnover in 18 months.

The six-figure boost was provided by lending firm Secure Trust Bank Commercial Finance.

Ventilation Surveys & Services, which offers ventilation cleaning and maintenance, employs a team of 60 staff and works in both the public and private sectors with clients such as fast food chain Burger King, gym operator Fitness First, Greater Manchester Police and the NHS.

Over the last 12 months the firm achieved year-on-year growth of 30%, bringing its turnover to £3m.

Now, Ventilation Surveys & Services plans to drive its revenues past the £5m mark by 2018.

In addition to its existing organic growth strategy, the company plans to make a number of follow-on acquisitions during the next three years as it seeks to expand in the ventilation compliance market.

Ventilation Surveys & Services’ CEO, George Friend, said: “While achieving growth is a key priority for any business, managing such rapid expansion represents a considerable challenge.

“As a result, we knew we needed the support of an invoice finance facility, and found Secure Trust Bank to be the ideal partner.”

He added: “Ensuring good lines of communication with your lender is essential, and the time that Secure Trust Bank took to understand our business and the sector meant they could provide a flexible facility to meet our needs.”

Secure Trust Bank Commercial Finance’s regional sales director, Matthew White, commented: “With a strong client base including a number of household names, Ventilation Surveys has demonstrated outstanding levels of growth over recent months, and maintains an ambitious strategy for further expansion.

“The business opted to switch from their high street provider due to the greater flexibility provided by our services, as well as the ongoing support we offer.”

He continued: “The package we have put in place will enable the business to free up cashflow and ensure that it can manage the growth effectively moving forward.”