£5m funding boost for specialist services provider NSS
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BGF-backed specialist services provider, Nationwide Specialist Services (NSS), has secured a new £5m group funding facility.
The funding from Barclays will support the Altrincham-based company in its ambitious growth plans following a strong performance through the past 12 months.
Since BGF’s initial investment in 2016, the business has led a number of acquisitions and a merger to establish itself as a national business.
Earlier this year, the company reported an uplift in sales of 20%, following a series of significant contract wins across the FM, retail, industrial, and ecommerce sectors.
NSS is a UK-wide service provider covering areas from building maintenance to window and technical cleaning, platform hire and equipment testing with the business originally forming in 2005.
They have seen demand for their services grow as a result of their strong service culture and increased demand for their services throughout the Covid-19 pandemic.
The new funding arrangement sees all of the NSS Group of companies now banking with Barclays as they enjoy a group funding structure which is able to grow with the business in the coming years.
NSS CFO Julie Redfern said: “Having joined NSS in 2020, I have been focussed on consolidating our funding.
“Throughout the refinance process Barclays has been focussed on understanding our business requirements and have been able to provide a funding structure which will enable NSS to achieve our ambitious growth plans in the coming years.”
NSS CEO Niel Bethell added: “We’re an ambitious business and our success to date is testament to the strength of our team, customers and our partners. We look forward to building on this in our next phase of growth.”
Barclays Relationship Director James Hodgson said: “Since my first meeting with NSS I have been impressed with their drive, diligence and customer focus. This has led to the business creating an ambitious growth plan which is already well underway and I am pleased to be able to support the business as they seek to take this growth even further.”