Nottingham recruitment giant lands £150m funding deal
Staffline, the Nottingham-based recruitment giant, has landed a £150m funding package from Lloyds Bank Commercial Banking.
The company says it will use the cash to expand its footprint in key regions as it looks at further acquisitions.
This year, Staffline has bought Grafton Recruitment in July which followed a deal with food, agriculture and logistics recruiter Endeavour Group and its subsidiary Vital Recruitment earlier in the year.
Staffline comprises two divisions, Recruitment and PeoplePlus, with an annual turnover of more than £1bn. The company supplies over 60,000 blue collar staff per day to approximately 1,500 private sector clients from over 400 locations in UK, Ireland and Poland. Workers are supplied across a variety of industries including agriculture, drinks, driving, food processing, logistics and manufacturing.
PeoplePlus is an adult skills and training provider in the UK, delivering apprenticeships, adult education, prison education and skills-based employability programmes.
Mike Watts, chief financial officer of Staffline Group, said: “The six acquisitions we’ve completed this year have played an integral part in our strategy to expand across the UK and further strengthen our reputation and market share.
“Lloyds Bank has been one of our funding partners for a number of years now and the team really knows our business well, which has enabled them to provide a funding package that’s tailored to our exact needs.”
Mark Lewis, relationship director at Lloyds Bank Commercial Banking, said: “The recruitment industry has grown consistently in the last few years and is fast becoming one of the UK’s leading and most dynamic sectors. It’s fantastic to be supporting this longstanding client as it continues to invest in its growth and establish its market-leading reputation.
“Supporting the ambitions of mid-market businesses like Staffline is part of our commitment to helping Britain prosper.”