Recruiter expands with £15 million support

An industrial and warehousing recruitment firm has expanded its national footprint with £15 million support.

TaskMaster Resources has bought part of a competitor’s trade in the South West.

Bosses say the move will “accelerate its trajectory towards achieving £100 million in annual revenue”.

The deal was fuelled by backing from Bibby Financial Services, which provided the Leeds-headquartered temporary and permanent staff provider with a £13 million confidential invoice discounting facility and a £2 million cashflow loan.

The agreement was led by Stephen Hand, Bibby Financial Services’ invoice finance sales director, alongside Mark Keegan, chief financial officer at investment firm Adama Capital.

Glenn Souter, Bibby Financial Services’ corporate business development manager, led the deal with support from assistant corporate manager Simon Thomas and Andrew Strike and Kate Jackson, who oversaw underwriting and onboarding, respectively.

Glenn said: “TaskMaster Resources is a well-run, forward-thinking business with a clear growth strategy.

“We look forward to helping the business achieve its goals.”

Mark added: “After introducing Bibby Financial Services to TaskMaster’s business, the funder delivered a structure and timeline that matched its ambition.

“Bibby Financial Services’ commercial understanding, transparency and ability to move quickly made all the difference, putting TaskMaster in a strong position to grow sustainably, aspire for larger contracts and expand its geographical outreach.” 

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