D&A Recruitment Ltd. has received an £800,000 funding facility from Bibby Financial Services (BFS). Based in the East of England with offices in Cambridge, Bedford, Huntingdon & Essex, D&A Recruitment offer across-the-board recruitment services. The agency provides temporary and permanent placements and has contracts with companies including Hotel Chocolat.
It was established in 2012, and has successfully grown its turnover by 20 per cent year on year, increasing from £400,000 seven years ago, to around £4.5 million today. The funding package structured by BFS’s Corporate team will boost D&A Recruitment’s working capital operations supporting its growth ambition of achieving a £10 million turnover.
“D&A have a strong track record of achieving year on year growth,” said Tony Clampin, corporate manager at Bibby Financial Services. “We were pleased to be able to structure a facility that frees up their cashflow so Dan and the team can focus on managing day-to-day business and achieving their future growth targets.”
Dan Davis, Managing Director at D&A Recruitment, commented: “In recruitment, the average payment terms with customers range from 30-60 days. BFS’s funding provides the working capital we need to meet payments and grow the business. It was a pleasure to work with the Corporate team who understood our commercial needs and were able to structure a facility that supports our plans for continued growth.