Demolition and scrap firm set to build growth with new banking deal

Chesterfield-based business KJB Consulting (Global) has revealed major expansion plans with new funding from Barclays.

The firm have completed a re-banking and re-financing exercise which has seen it transfer all their banking to Barclays, including a UK Export Finance Trade Finance facility which will support its growth and provide scale-up working capital finance.

Established in 2016, KJB Consulting (Global) operates in various markets including demolition of redundant steelworks and managing the onwards sales of scrap, decommissioning of oil and gas structures, remediation, commodity trade, financing of trades and clearance and extraction of niche by products from UK steel foundries across the UK. It then sells the materials to UK markets and abroad to the EU and beyond. A secondary aspect of the business is the brokering of various ferrous and non-ferrous scrap metals.

Employing 12 staff, the full year ending May 2021 saw turnover of £9m, however, with present business volumes and the new banking facilities, the business expects turnover for this year to exceed over £20m.

James Bowers, managing director, KJB Consulting (Global), said: “We’re absolutely delighted to move our banking to Barclays and have been very impressed with their desire to understand our business and build a strong partnership approach. With the banking facility secured, the platform has been laid to continue our growth journey, pursue new opportunities and provide a hugely exciting future for the business. KJB have established significant milestones which we continue to push towards over the coming years seeing turnover grow to £30m/£50m/£100m by 2025 – we see Barclays playing a crucial part in this development.”

Matthew Chenery, Barclays relationship director, put together the funding package for the deal and said: “I am really pleased to have provided a full refinancing package to KJB Consulting. James and the team are really ambitious and delivering strong growth – supporting the next stage of their journey, in particular with the Trade Finance facility, will I’m sure be of great value to them. I look forward continuing to develop our relationship with them over the months and years ahead to bring their plans to fruition.”