Epulet Technical Recruitment acquires AircraftEngineers.co.uk

Epulet Technical Recruitment acquires AircraftEngineers.co.uk

Local recruiter increases sales capacity with A3500k Factoring facility

Cambridge-based technical recruitment specialist, Epulet Technical Recruitment, has acquired aerospace maintenance recruitment firm AircraftEngineers.co.uk with support from independent Invoice and Asset Based Lender, Venture Finance.

Venture provided Epulet with a A3500k Factoring facility along with Bad Debt Protection, releasing cash from its invoices to finance the deal and provide a boost to cashflow.

The additional working capital also allowed Epulet to overcome a funding gap between weekly wages and monthly invoices, as well as service the increasing new business contracts coming its way. As a result Epulet has been able to pursue organic growth, winning a major new contract.

Stephan Smith, Managing Director at Epulet, comments: The new facility from Venture has enabled us to release more cash from our assets, helping us to increase our sales capacity and continue to deliver an excellent service to our clients. This is a vital tool for business growth, especially for a small and independent recruitment company like Epulet.

The revolving facility means that funding increases to match the company92s sales performance automatically, releasing sufficient finance to explore further acquisition opportunities. With Bad Debt Protection also in place, Epulet will have the peace of mind needed to take on new contracts in the knowledge that they are protected from sudden insolvency of a new customer.

Smith continues: Venture has become a true financing partner; they responded very quickly to our initial application and took an innovative approach to meeting our needs. We continue to benefit from their excellent experience and are looking forward to working with them on future deals.

Mike Davis, Regional Manager 96 East of England at Venture Finance, adds: We expect to see an increasing number of businesses looking to release finance from their invoices and existing assets this year, as they start to see new opportunities for growth. Easy access to flexible finance is a vital part of this, and will help build financial confidence for stronger growth as well as wider economic recovery.

The acquired business will continue to trade as AircraftEngineers.co.uk.