Lincoln-based business Clements Young, which offers recruitment services for the construction and M&E sectors, has secured a £2.5m finance deal with NatWest.
The investment deal will enable Clements Young to explore opportunities to grow the business, including recruiting a number of new internal staff and expanding into regional locations across the UK.
Founded in 2018, Clements Young has supported more than 130 customers within the construction and building services industry, working closely with clients and candidates to build relationships, understand the business need and ensure a beneficial employment outcome for both parties.
Matthew Jones, Managing Director at Clements Young, said: “As the business grew organically over the last few years, it became increasingly important that we secured a new finance solution that matched our needs and future ambitions. This new funding line gives us the flexibility and freedom to explore new opportunities, which really puts us in control of our own destiny.
“The team at NatWest have been invaluable in terms of their advice and support in terms of helping us move from a previous provider. Throughout, I’ve been able to pick up the phone and speak to the team, so it’s felt like a seamless transition for us and this personal touch has been an added bonus to the deal.”
Ken Feast, business development director, Invoice Finance, at NatWest, said: “As well as flexible financing solutions, we work hard to remove barriers to enterprise, so that businesses can thrive.
“It’s been fantastic to work closely with Matthew and his team to not only provide them with an invoice finance package that suits their needs but also support them with the wider aspects of taking a business on to the next stage of their growth journey. I’m really excited to see what’s next for them.”
Invoice financing is a flexible way for businesses to borrow money against payments due from customers. This frees up finances and can help businesses reinvest in growth at an earlier stage.
Broker Fundinground Ltd advised on the deal, supported by NatWest broker relationship manager Ben Davey.
Lucy Painter, director at Fundinground Ltd, said: “The range of finance products and lenders for businesses is vast, and we find that clients can’t always identify or directly access the best product for their circumstances.
“Invoice finance is of huge benefit to a broad spectrum of business to support their cashflow requirements, particularly bearing in mind the economic environment we are currently in. However, identifying the right product and lender is critical to its success, and it’s more than just price. The service aspect delivered by the lender is crucial due to the longevity and closeness of the client/lender relationship, and we know how Ken and the wider invoice finance team at NatWest recognise and value this.
“We are delighted to have brokered this introduction and know that Clements Young are in excellent hands as they embark on the next stage of their growth.”
Images shows Matthew Jones, MD, Clements Young