Nottingham recruitment firm aims to top £50m turnover

A Nottingham-headquartered recruitment agency ha revealed plans to smash through the £50m turnover mark after it secured a £5.5m funding package from Lloyds Bank.

Thorn Baker, which specialises in providing skilled temporary contract workers and permanent staff to the construction, industrial and estates facilities maintenance sectors, says it wants to double its current £27m a year revenue by 2023. It says it will start by increasing turnover by 10% over the coming year.

The firm currently supplies more than 1,500 workers to some of the UK’s biggest businesses, including DPD, Raleigh, Persimmon Homes and Bouygues.

Thorn Baker, which was founded in 1988, operates across six locations in the UK and employs 70 people.

Paul Jackman, chief executive officer at Thorn Baker, said: “This funding is the latest step in our growth strategy, as we continue to establish ourselves as the market-leaders in our three specialist disciplines. 2018 marks our 30th anniversary and this latest investment shows just how much our business has grown since 1988.

“This is our first time working with Lloyds Bank and we were impressed by how the team took the time to really understand our business and arrange funding support that was tailored to our exact needs.”

Jason Hallam, business development director at Lloyds Bank, said: “The recruitment industry has grown consistently in the last few years and is fast becoming one of the UK’s leading sectors. Thorn Baker is a fantastic example of an ambitious business that’s investing to stand out in an increasingly crowded market.

“Supporting the ambitions of mid-market businesses like Thorn Baker is part of our commitment to helping Britain prosper.”