First Response Group (FRG) today announced it has completed refinancing with Leumi ABL via a structured £6m ABL facility, including Confidential Invoice Discounting and Term Loans to support future growth aspirations.
Founded in 2007, the Leeds based Security, Fire and FM solutions specialists hold the coveted NSI Guarding Gold accreditation and, as an ACS Pacesetter, is ranked in the top 15% of firms accredited by the Security Industry Authority’s ‘Approved Contractor Scheme’. A series of targeted acquisitions and recent high-profile tender wins in the Insurance, Corporate and Construction sectors have accelerated FRG’s growth to £25m+ turnover, triggering a need to increase available working capital for business continuity and future investment.
FRG CEO Simon Alderson commented: ‘We are excited to complete our refinancing agreement which will allow FRG access to the funds required to continue the strong growth we have experienced over the last few years. Leumi present a great partnership and moving away from a high street bank to working with an asset based lender enables the business to secure the right facilities to achieve our growth aspirations for the next 3-5 years’
John Walsh, Leumi ABL Regional Sales Director, added ‘We are delighted to support this rapidly growing business now offering national service solutions to its blue chip clients. Our comprehensive asset based lending facilities provide First Response Group with capital for growth and investment, which can only enhance their growing reputation.’