Contractor underlines growth plans with funding line.
Manchester-based contractor KDC has set its sights on further growth after securing a multi-million pound refinancing deal from Yorkshire Bank.
The £3.8 million finance package, from Yorkshire Bank’s Manchester-based corporate banking team, provides KDC with fresh working capital as it continues to win new contracts across the UK. The deal also refinances investment provided by YFM Equity Partners who, along with Yorkshire Bank and Barclays Ventures, were a key investor in the 2008 management buyout of the business. The company has grown turnover from £14 million to £24 million since the MBO and it now has 140 employees across the UK.
“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,” says KDC finance director Ged Gurney. “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.”
