£1.75m funding to help Preston firm grow

£1.75m funding to help Preston firm grow

Preston-based Independent Inspections Group has secured £1.75m funding towards its expansion.

The funding from Secure Trust Bank Commercial Finance follows an investment from Rcapital in April 2016, helping the firm drive growth.

Indepedent Inspections offers consolidated claims management outsourcing services for all UK insurers, covering escape of water, fire, floods and accidental damage.

Founded in 1989, it currently houses three brands: Independent Inspections, ChemDry UK and Ansa Drainage Solutions, with a total headcount of more than 300 and turnover of £45m. 

Independent Inspections is a manager of furniture and flooring claims, with a national pool of 59 inspectors and restorers, and currently has a turnover of more than £20m, as well as a customer base spanning the UK, Northern Ireland, the Isle of Wight and the Isle of Man.

The addition of ChemDry UK and Ansa Drainage Solutions has developed the expertise of the firm, with the former offering fire and flood restoration services, and Ansa Drainage offering claims management,validation and fulfilment services to insurers, loss adjusters and commercial clients.

Matthew White, regional sales director at Secure Trust Bank Commercial Finance said: “Independent Inspections has developed a strong reputation in providing assessment and restoration for the insurance industry, and the investment from RCapital has enabled it to focus on boosting its growth objectives. In order to accomplish this, the company needed a tailored and flexible finance facility in a short space of time.

“By working alongside both the existing management team and the investors at RCapital, we quickly understood the ambitious targets that the business had, and were able to structure a package capable of meeting their requirements. We are confident that with the ongoing support of both RCapital and ourselves, Independent Inspections is in excellent shape to further expand operations in the coming months.”

Chris Campbell, investment director at RCapital, added: “When we looked to invest in Independent Inspections, the great reputation of each of their component brands, as well as the access to a strong client base, were key factors in our deal. However, we recognised that implementing a finance facility in a short space of time was crucial to driving future growth.

There is enormous potential for growth at Independent Inspections, and we’re confident that with our ongoing support, we can achieve this over the coming months.”

 

 

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