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NRL team up with Barclays to support expansion

NRL team up with Barclays to support expansion

NRL Group Ltd, the privately owned recruitment and technical services business, has agreed a &pound16 million refinance deal with Barclays to support their growth and acquisition aspirations.

NRL provide recruitment and managed technical service solutions from a network of eleven operating locations throughout the UK.  Services include temporary and permanent recruitment of technical, construction and engineering personnel and the management of rail and non-destructive testing projects nationwide.

NRL's expertise encompasses a wide range of industry sectors including Aerospace, Automotive, Chemical, Construction, Defence, IT, M&E Trades, NDT, Nuclear, Oil & Gas, Pharmaceutical, Power Generation, Rail, Telecommunications and Utilities.

The company, which was recently ranked as “3rd Best Technical Recruiter” by Recruiter Magazine, currently has a turnover circa &pound87M per annum and is on track to break through the &pound100M mark this year. NRL was founded in 1983 and is owned by Andrew and Hugh Redmayne, who are both still involved in the management of the business.

Andrew Redmayne, Chairman of NRL Group Ltd said:“NRL has achieved significant organic growth which has seen the company increase turnover in recent years. We have developed a strong relationship with Barclays as we want a bank for the long-term that supports our aims and ambitions with a relationship team who understand our business. The team at Barclays share our enthusiasm for the business and are keen to support our plans to expand and open new branches across the UK and overseas.”

Barclays Corporate Banking Relationship Director Paul Merone said:  “It really is a pleasure to see a company go from strength to strength and perform fantastically well in what are very challenging trading conditions. We are delighted to be associated with NRL and to be able to assist them in achieving their goals.

He continued, “Barclays Corporate remains committed to the UK business market and this deal highlights our appetite to support well managed businesses in a tough market”.

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