Secure Trust Bank puts Circle Square in good shape
The London-based company specialises in recruiting qualified accountants into private-equity backed businesses, as well as providing bankers for both corporate finance and private equity houses in London.
The recruiter primarily focuses on clients within the mid-market landscape and has provided a number of candidates to leading FTSE 250 companies, as well as European and US banks. The firm, which currently employs 15 full-time staff, achieved a turnover £2.5m this year.
As a result of the additional working capital facilities, Circle Square is on track to reach turnover of £3m by the end of 2015 – up from £1.7m in 2014. The company is now looking to expand its operations further in the real estate space.
Andy Pringle, managing director of Circle Square, said, “Our previous lender restricted our growth and was far too risk averse. However, since working with Secure Trust Bank, Circle Square has enjoyed much more freedom and flexibility to expand.
“While M&A markets remain buoyant, it means the demand for skilled corporate finance and private equity practitioners remains high. We’re now in a much better position to accelerate our recruitment drive across these core sectors and capitalise on growth.”
James Bingham, regional sales director at Secure Trust Bank Commercial Finance, said, “Circle Square is a well-established recruitment company in the heart of London and is a classic case of an incumbent lender not supporting its clients. The business had a number of service problems, which we were able to resolve, and as a result, is now well-placed to look at expanding the business.
“The funding has not only helped the business to improve its cash flow and day-to-day running, but turnover has almost doubled, which is brilliant to see.”