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Leeds security firm set to hit £2m turnover after £300k funding boost
Posted by Nick Hill on 11 Jan 2016
A Leeds-based security firm, which hit £1m turnover in its first year of trading, is expected to double this figure after securing a £300k funding boost to fuel its growth strategy.
Established in 2014, Servo Group already employs more than 100 staff, and boasts big-name commercial clients such as Eddisons, Capita, Balfour Beatty and Interserve.
The 24-hour multi-service provider offers security, manpower resourcing and facilities management services from on-site security guards and CCTV monitoring, to property reinstatement and temporary staffing across many sectors.
Access Commercial Finance, also based in Leeds, has provided the funding line of £300k to enable Servo to expand and it anticipates doubling the facility within the next 12 months.
Jodie Crosthwaite, managing director of Servo Group, said: “Our success has been phenomenal to date, and finding the right finance has been integral to that. Like many young businesses, once we started to take off we needed funding otherwise we would be over trading.
"Without a reliable finance facility, it would have been impossible to be considered a major player in our chosen sectors, which we are now fast approaching, through great service, attention to detail, and the great team we have here.“
The facility from Access was initially secured when Servo’s current funding wasn’t proving effective enough, therefore the £300k boost has enabled Servo to establish itself as a major national player in this field.
Jodie added: “We have been able to secure a funding deal from Access that we couldn’t have got anywhere else – it’s been a totally different and refreshing experience from dealing with banks, the restraints they have now make it almost impossible to discuss anything. Arranging the facility has been very seamless and straightforward, delivery was perfect and, crucially, quick – we haven’t spent weeks poring over realms of paperwork.“
Servo is also planning to recruit extra staff and continue to compete for large national contracts.
Matt Haycox from Access also commented: “It’s great to work with really strong, ambitious businesses like Servo, who have achieved so much, so quickly. Often companies like this turn to us because banks and high street lenders can still be conservative in their lending, whereas we can see the massive potential in their plans and help to structure the solution that will really help them grow into a huge business.“