The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Ecoserv Receives £4m in Asset-Based Lending

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


Related Articles

Mecsia Receives Investment to Support Growth Strategy

M&E specialist Mecsia has secured investment to expand its services and make more strategic acquisitions. The maintenance services company was formed in 2020 after...

 Read Full Article
FM Software Company Raises a $500k Seed Round

Prengi, a property and facility management SaaS product, has raised a $500k seed round. Prengi is an FM software tool that helps managers to manage their internal...

 Read Full Article
EcoSync Close to £1m Funding Target for Commercial Building Energy Solution

A tech start-up that provides room-by-room energy management solutions for commercial buildings has raised close to £1 million in its second seed funding...

 Read Full Article
Five Heat Network Innovations Win Funding from HNIP

Nearly 29,000 homes and businesses will see lower carbon emissions and energy bills thanks to innovative heat network projects being backed by around £56 million of...

 Read Full Article
FMs Have Four Weeks to Apply for Electricity Generation Funding

Facilities management companies that own or operate commercial electricity generation have just four weeks left to apply for funding that will help them update their...

 Read Full Article
Jones FM Acquires Funding From Thincats

Jones FM, the London-based facilities management company, has been supported with a share buyback funding package by finance provider...

 Read Full Article
Sustainable PropTech Companies To Receive €200m of Funding

A new fund has been launched to invest €200 million in start-up companies developing sustainable tech to target the carbon footprint of cities.  The venture...

 Read Full Article
Ecocleen - New Head Office And Network Growth

Ecocleen has strengthened its nationwide infrastructure with the opening of a new headquarters and the expansion of its franchise network. The commercial contract...

 Read Full Article
Engineering Fund Generally Not Fit - Just Three 'Developing Women Engineers' Applications

Sheffield Heeley MP Meg Munn (pictured) has criticised the Government’s Employer Ownership Fund (EOF) as not fit for purpose after learning that just £720,000...

 Read Full Article
Spinning a Good Development

£10million of Evergreen funding has been awarded to Allied London’s Cotton Building in Spinningfields   The North West Evergreen Fund has provided...

 Read Full Article