AKD Facilities Management, the Slough-based provider of security staff and guarding services to the retail, corporate, healthcare and public sectors, has secured a £750,000 revolving credit facility from the alternative finance provider Growth Lending, to support cash flow and accelerate future growth.
Growth Lending chose to invest in the business after witnessing AKD’s impressive response to the Covid-19 pandemic and the loyalty of its strong customer base. As restrictions have continued to lift in the UK, demand for the firm’s services has increased exponentially and this new line of funding will ensure seamless delivery of projects to new customers.
AKD works with some of the biggest firms in the UK, providing services from manned guarding and property maintenance, to mobile patrols and professional cleaning across the UK.
Growth Lending, which is based in London, Manchester and Bristol, has decades of experience encompassing institutional lenders, alternative finance and invoice discounting. The lender provided more than £80m of funding in 2020, including £64m under the government’s CBILS initiative and aims to be a £200m business by the end of 2021.
Jack Trowbridge, commercial director at Growth Lending, says: “Despite the struggles that many businesses have experienced during the pandemic, the AKD management team has demonstrated excellent leadership and continued to win exciting projects.
“With such a strong presence in the security market, the business is a great addition to Growth Lending’s portfolio and we are confident that the investment will support AKD in its growth ambitions.”
Ahmed Yar Khan, director at AKD Facilities Management, says: “We are pleased to be working with the team at Growth Lending and are appreciative of their support for our vision.
“After seeing a real increase in demand for security services in recent months, we needed a lender that would provide us with the backing we need to grow our client base and continue providing a quality service to our existing customers.”