Ecoserv Receives £4m in Asset-Based Lending

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• Ecoserv Receives £4m in Asset-Based Lending

31 March 2023

Commercial cleaning firm Ecoserv Group has received a £4 million asset-based lending facility from Cynergy Business Finance.

Ecoserv aims to become the largest sustainability-focused facilities service provider in the UK by 2030. It provides services including deep cleaning, waste management and window and roof cleaning for customers such as BBC Studio Works, InHealth and Savills.

The cleaning services provider was recently sold out of administration when Ian Corfield and Simon Stibbons, Partners at FRP, were appointed as Joint Administrators in February 2023.

Jean-Henri Beukes, CEO at Ecoserv Group, said: “Having already experienced rapid growth, the business needed to create additional liquidity to allow us to achieve our growth plans for the next three to five years. We were seeking a partner who would understand our business needs and, more importantly, understand the sector in which we operate.

“The Cynergy team took the time to meet our team and understand how the business operated. Ultimately, we’ve been able to create the liquidity required to grow the business and I look forward to seeing the business continue to grow over the next five years and beyond.”

Maxine Hennessy, Corporate Sales Director at Cynergy Business Finance, added: “The owners, Jean-Henri and Henry, were a pleasure to deal with. They are evidently proud of not only the thriving business they have built together, but also of their team, where strong staff relationships are clear to see.

Picture: a photograph of a warning sign stating that cleaning is in progress, with a floor cleaning being used in the background. Image Credit: Ecoserv

Article written by Ella Tansley | Published 31 March 2023

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