Small business lender Bibby Financial Services (BFS) has provided a £3m confidential invoice discounting funding line to Civil Rail Solutions (CRS).
The funding facility is expected to bolster CRS’s working capital, enabling it to meet the growing demands and support existing contracts.
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Following an introduction by Amanda De Courcy of ADC Financial, BFS structured the £3m package to align with CRS’s accrued income.
Established in 2008 and based in Ashford, Kent, CRS operates as a labour supply business, offering personnel solutions to entities such as Network Rail and Transport for London.
The company is said to have been key in supporting major contractors across the Rail and Construction sectors.
With the commencement of Network Rail’s £45.4bn five-year investment plan in April 2024, known as Control Period 7, the demand for specialised labour is on the rise.
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By GlobalDataThe funding from BFS will ensure that CRS can effectively respond to this increased demand.
Bibby Financial Services corporate sales manager Mike Reid said: “We are excited to have been chosen as Civil Rail Solutions’ funding partner and look forward to supporting their future growth plans. This is a great example of our ability to structure working capital solutions for sectors with complex supply chains, and debtor books.
“With our in-depth understanding of the challenges and opportunities in the rail and construction sectors, we were able to structure a confidential invoice discounting facility that offers flexibility to support the business’s needs now and in the future.”
CRS CEO Mark Mason said: “As we enter this new control period for the UK rail sector, we are in a great position to continue our growth journey as a strategic labour supply partner to industry-leading rail contractors.
“Due to the complex nature of these industries, we were looking for a partner who understood both our sector and ambition and would be able to provide the flexibility we need to respond to evolving demands in the sector. BFS were able to demonstrate both, and we look forward to working with the team in 2024 and beyond.”
In March this year, BFS announced the addition of two sales professionals to its team, to provide support to small and medium-sized enterprises.
