Industrial recycling firm targets £30m turnover with eight figure funding deal
An industrial recycling firm has secured an eight figure funding deal as it aims to reach group turnover of over £30m.
Hatfield Energy, which has been based in Rotherham for over 45 years, can accept and process thousands of tonnes of select bulk materials and industrial wastes.
It operates from a six-acre site and is run by the second family generation of brothers, Grant and Mark Hatfield, and employs over 40 people.
Resourcing, recycling and reusing industrial wastes and by-products from heavy industry has been a core part of Hatfield Energy for the last 40 years.
It has received the eight-figure Asset Based Lending (ABL) funding facility arranged through Liquidity Club.
The ABL facility will support Hatfield Energy’s growth strategy, which includes further expansion of its portfolio of products and capabilities. The facility was facilitated by Adam Simpson from Liquidity Club and has been provided by AMB AMRO.
The facility works by accessing cash held within the debtor book and inventory assets, thereby giving Hatfield Energy access to working capital to support future growth.
Chris Lambert, finance director at Hatfield Energy, said: “This is an exciting period of growth for Hatfield Energy and we are looking to build further on this success which was highlighted when we were recognised in this year’s Fastest 50 Growth awards.
“The management team have worked hard in recent years to grow the business and have high aspirations for the future as we are set to reach a group turnover of over £30m this year.”
Adam Simpson, director of Liquidity Club, added: “Hatfield Energy is a thriving business who have recorded impressive growth and an appetite to build on this success. I am delighted to help one of Yorkshire’s fastest growing companies to secure the appropriate funding deal to support their continued growth aspirations.
“The ABL facility will work well to support their strategy because it is linked to assets which means funding can be increased as the business expands.”
Austin Thorp, ABN AMRO Manchester sales director, also said: “ABN AMRO is delighted to be able to support Hatfield Energy with its continued growth trajectory – a long established business with a strong management team, which we are confident can deliver its plan.
“Working in conjunction with the Liquidity Club, Hatfield’s funding requirement was clearly identified, and a suitable funding solution provided to meet their growing business needs.”
