Aldermore has provided a £2m invoice finance deal to entrepreneur David Seaton who has purchased the carbon-neutral business, Glen Cleaning.
Glen Cleaning was established in 1983 and provides a regional cleaning service to schools, universities, and councils employing over 1500 staff throughout Wales and South West England.
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Funding from Aldermore will help Glen Cleaning expand its operations across the UK and attract more commercial clients.
Chairman of Glen Cleaning, David Seaton, said: “I’m really pleased to have been able to buy Glen Cleaning. The business has a well established reputation for excellent service, a broad customer base and significant potential for growth.”
Seaton said Aldermore provided realistic expectations of funding that could be granted and were supportive of his proposals.
Business Development Manager at Aldermore, Alex Hazell, said: “We’re delighted to have helped David purchase the Glen Cleaning business.
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By GlobalData“David was extremely knowledgeable about the finance options available to him and set out some exciting plans for the future of the company. Ensuring our customers have the finance and support they need is something we always strive to achieve.”
In the financial year to 30 June 2019 Aldermore recorded a 12% rise to £3.4bn in business finance. The results were for its 10th year of operation and first year as part of the First Rand Group.
Across Aldermore net lending to customers totals £10.6bn, up from £9bn in 2018.
