Invoice Finance News – Mach Recruitment, the Leeds-based specialist recruitment business working in the warehousing, logistics and food sectors, has agreed a £45m invoice finance facility with Metro Bank.
Mach Recruitment started trading 2007 and saw revenues of £291m for the 12 month period of 2022, and £336.54m for the 18 month period.
The invoice finance package from Metro Bank will provide the additional funding it needs to meet the long-term needs of this entrepreneurial and market-leading business and replaces a revolving credit facility from Wells Fargo as Mach Recruitment has said that it will use the financing to support its acquisition ambitions and continued desire to grow and diversify.
Mach Recruitment was advised by Mazars Debt Advisory. Metro Bank was advised by European Valuation and Shoosmiths in the completion of the Mach Recruitment £45m invoice finance facility.
Tom Zyzak, Chief Executive Officer at Mach Recruitment, commented, “These are exciting times for the business and we greatly appreciate the professionalism and approach of the Metro Bank team to meet our requirements and put the facility in place. We believe we have found the right financiers and partners to help Mach drive our already successful business further forward and allow us to be more dynamic and opportunistic in our marketplace.”
Alan Austin, the Head of Asset Based Lending at Metro Bank added, “We were delighted to work with the team at Mach and provide them with a bespoke and tailored facility to meet their specific needs, both now and in the future. We look forward to a long and successful partnership, and Mach can rest assured knowing they have a committed and supportive partner to match their aspirations.”
Josh Thorneycroft, Director, Debt Advisory at Mazars said, “It was a pleasure to work with the strong management team at Mach and secure a facility that is fit for purpose and will support the future growth plans of the business. Metro Bank were able to differentiate themselves in a competitive process by taking a flexible and pragmatic approach throughout. I look forward to seeing this partnership flourish and supporting the growth of the business.”
Mach Recruitment – Yorkshire’s Fast 50
From start-up to £291m annual turnover in 17 years is a fantastic achievement and its no wonder that Mach Recruitment caught the attention of Ward Hadaway and The Yorkshire Post in compiling their Yorkshire Fast 50, recognising the 50 fastest growing businesses throughout Yorkshire.
With the Mach Recruitment £45m invoice finance facility from Metro Bank now in place to support its acquisition ambitions and continued desire to grow and diversify, the future for Mach Recruitment will hopefully be one of continued success.
