£11m refinance deal for G2V

RECRUITER G2V Group has signed an £11m refinancing deal.

The company, which has offices in Manchester and Wilmslow, has signed a deal with The Royal Bank of Scotland and RBS Invoice Finance to support the company’s ongoing UK and international growth.

Since it was  established in 2004, the company has since enjoyed rapid expansion, opening further offices across the UK in Glasgow and Bristol, as well as internationally in Amsterdam, Frankfurt and Houston.
 
Turnover has grown to £23m in the last three years and overall group turnover is currently £65m.

G2V Group is a technical recruitment agency focused within the IT, engineering and oil and gas sectors. The funding deal with RBS and RBS Invoice Finance includes a loan and invoice discounting facilities.  The firm has also switched its banking facilities to RBS.

James Gorfin, managing director of G2V, said: “We are delighted be working with RBS and had decided to refinance our facilities to ensure they were fit for purpose to support G2V’s international expansion plans.

“We have experienced fast growth over the last few years, particularly abroad, and it was important to work with a lender that can provide international support, given that we invoice in many different currencies.

“RBS and RBS Invoice Finance both fitted the bill perfectly and the facilities that they provide have ensured that we are in a great place to drive the business forward from.”

Mike Lamont, director at RBS said: “We are pleased to be working alongside James and the team at G2V Group.  The company is in the middle of a period of rapid growth and the new funding deal will ensure that they are adequately supported to meet their demands.”

Jonathan Wilson head of business development North at RBS Invoice Finance said: “G2V Group has an excellent reputation and the business is performing brilliantly. 

“The invoice discounting facility we have provided the team with will help to support their ongoing expansion and will help to make trading in a variety of different currencies much more straightforward.”