Demolition firm KDC in £3.8m refinancing

MANCHESTER-based demolition and remediation specialist KDC has completed a £3.8m refinancing with the Yorkshire Bank.

The cash will be used to fund further growth and has also given an exit to YFM Equity Partners.

It backed a management buyout in 2008 along with Barclays Ventures which still holds a stake.

Since then turnover has grown from £14m to £24m and there are now 140 staff. Established in 1990, KDC works in the nuclear, petrochemical, pharmaceutical, energy and utilities sectors.

Finance director Ged Gurney said: “We work in a high-risk, high consequence sector and the way we manage and mitigate those risks means we are seen by our customers as a trusted partner.

“Since the MBO we have been able to significantly widen our client base and service offering in ‘end-of-life asset’ management. For example, we have carved out a reputation as the number one company in the nuclear sector for what we do. There is huge potential for growth and the funding provided by Yorkshire Bank gives us a solid foundation on which to continue developing the business.”