(l-r) Andrew Tugwell (Acorn Recruitment), Sinead Johnson (Lloyds Bank) Paul Williams (Lloyds Bank)
The leading recruitment group has secured a £20m invoice finance package from Lloyds Bank Commercial Banking to support its ambitious growth plans.
Acorn Group, one of the UK’s leading specialist recruitment and training firms, has secured a £20m invoice finance package from Lloyds Bank to support its growth.
The funding will provide the Newport-headquartered company with working capital to support its clients and to place more people into the workplace.
Acorn’s specialist recruitment teams place thousands of people into work across the UK in areas such as IT and digital, construction, rail, engineering, legal, industrial and executive search.
Founded in 1992, the company has grown significantly over the past 25 years and now employs 270 people across its 38 UK offices.
Andrew Tugwell, group operations director at Acorn Recruitment, said: “Flexibility is key when running a recruitment firm, and the new funding package will provide us with the working capital that we need to support our expansion.
“We’re experiencing a sustained increase in client demand and every week we place 6,500 people into the workplace across the UK and internationally.”
Paul Williams, relationship director at Lloyds Bank Commercial Banking, added: “Acorn is committed to providing the best possible service to its clients and the support we’ve provided will allow them to expand without impacting day-to-day cashflow.
“Offering a range of funding products is one of the many ways that we’re helping Britain prosper, as it allows firms to access a variety of funding options that can be tailored to suit their growth plans.”
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