Environment services specialist expands to Yorkshire following £8m refinancing deal

Liverpool-headquartered Future Industrial Services has undergone significant expansion, following its management buyout in April 2017, with the help of an £8m refinancing deal from NatWest.

The environmental and industrial services specialist has been able to open two new depots in Yorkshire and Middlesbrough, acquired five new vehicles and boosted its fleet to over 85.

The deal has enabled Future Industrial Services to add to its working capital and expand its capabilities to meet the demands of both new clients and the wider market.

NorthEdge Capital backed the management buyout from its Irish listed parent company. This will enable the company to offer services to clients on a national level.

Future Industrial Services, which has an annual turnover is in the region of £30m, operates a number of specialist recovery and disposal sites.

The firm has the capability to deal with a wide range of difficult materials and operates the UK’s only mercury recovery plant, with several more dedicated facilities for the treatment and recovery of bulk and packaged wastes.

Scott Dunning, chief financial officer of Future Industrial Services, said: “Since completion of the MBO and with the support of NorthEdge, the business has experienced sustainable growth and we look forward to further opportunities.

“Thanks to the funding from NatWest, we have now increased our working capital and capabilities to meet market demands and expand our client base.”

Chris Thomas, relationship manager at NatWest, added: “Future Industrial Services has had an extremely successful year.

“We are pleased to see the positive impact that our funding has had on the business and look forward to seeing its impressive growth continue throughout 2018 and beyond.”