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£4 million facility secured for Oxfordshire cleaning company
Leonard Curtis funding division has helped an Oxfordshire based facilities management group secure a £4 million Invoice Discounting facility in challenging financial circumstances, to help secure the future of the business following a distressed business and assets acquisition.
Ecoserv based in Wallingford is a leader in sustainable cleaning and facilities management, having supported private and public sector customers in education, healthcare, retail and TV production for over 25 years.
Having grown successfully for many years, the group has faced a combination of challenging trading conditions related to and since the pandemic, which was exacerbated by financial obligations arising from a franchisee in-housing strategy.
Management consulted the Leonard Curtis funding team who identified the key issues and were able to obtain an offer of finance within three months on highly competitive terms.
Leonard Curtis worked with Cynergy Business Finance to arrange the funding ensuring the business and assets sale could be concluded and 2,000 employees were retained. Ecoserv is now well placed to meet future growth plans.
Steve Jones at Leonard Curtis stated: It was a pleasure working with the Ecoserv, who were clearly focussed, knowledgeable and helpful throughout the entire process.
This was a great result and shows what can be achieved even in very difficult financial circumstances.
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