Group News
£3.3m funding package secured for Abacus Employment Services to support growth
Leonard Curtis has arranged a £3.3million funding package to support the continued growth of Abacus Employment Services, a Basingstoke-based recruitment and staffing business.
Abacus is a well-established provider, connecting employers with job seekers across the region. The new funding strengthens the company’s working capital position and underpins its long-term growth strategy.
The package was structured across multiple products and lenders. It refinanced the company's existing facility and introduced three new funding partners - property specialists Sancus UK, Finance For Enterprise and Cynergy Business Finance, the asset based lending arm of Cynergy Bank - providing improved liquidity and greater financial flexibility.
The transaction required a coordinated approach to refinance existing facilities while ensuring continuity of existing funding. The new facilities provide improved liquidity and flexibility, positioning the business for future growth.
Sarah Hewitt, Director of Funding Partnerships at Leonard Curtis, said: “This was a complex transaction that required a carefully tailored solution across multiple facilities and lenders. By working closely with all stakeholders, we were able to refinance the existing debt and bring in new funding partners, giving the business a stronger and more flexible financial platform to support its ongoing needs.”
Phil James, Finance Manager at Abacus Employment Services said: “Finding the right funding structure was a critical step for the business. Leonard Curtis took the time to understand exactly what we needed and guided us through the process, delivering a solution that gives us the flexibility and headroom to support our clients and drive our next phase of growth.”
Tim Daniels, Senior Business Lending Manager at Finance For Enterprise commented: “Abacus has built a strong reputation in the recruitment sector and demonstrated a clear strategy for sustainable growth. By providing flexible funding as part of this transaction, we are helping to strengthen the business’s financial position and support its future ambitions.”
Daniel Monksfield, Corporate Sales Director at Cynergy, added: “We’re delighted to be supporting Abacus Employment Services with the working capital needed for growth. It was a pleasure to work alongside Leonard Curtis on this transaction, whose collaborative approach helped deliver a strong outcome for the business.”
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.