Facilities management company set to double turnover after cash boost

LEEDS company Servo Group, which was founded in 2014, has said it will double its first year turnover of £1m this year after a major cash injection.

Servo, which employs 100 people, has received £300,000 from finance provider Access Commercial Finance to give the company the capacity to expand.

The 24-hour security and facilities management company offers on-site security guards, CCTV monitoring and temporary staffing.

The company already counts Eddisons, Capita, Balfour Beatty and Interserve as commercial clients.

Jodie Crosthwaite, managing director of Servo Group said: “Our success has been phenomenal to date, and finding the right finance has been integral to that. Like many young businesses, once we started to take off we needed funding otherwise we would be over trading.

“Without a reliable finance facility, it would have been impossible to be considered a major player in our chosen sectors, which we are now fast approaching, through great
service, attention to detail, and the great team we have here.

With the additional funding, Servo is planning to recruit extra staff and to compete for large national contracts.

Matt Haycox from Access Finance said: “It’s great to work with really strong, ambitious businesses like Servo, who have achieved so much, so quickly.

“Often companies like this turn to us because banks and high street lenders can still be conservative in their lending, whereas we can see the massive potential in their plans and help to structure the solution that will really help them grow into a huge business.”