A jointly owned group of North West waste management specialists with its headquarters in Liverpool secures £2m loan facility to support its scale-up plans. Tony McDonough reports
Link Waste Group has secured a £2m cash injection as it looks to scale up its operations following a number of new contract wins.
With its headquarters in Speke in south Liverpool, and bases in Wigan and Manchester, Link Waste Group comprises Link Paper Recycling and Link Recycling. It recycles waste products for businesses across the North West.
Founded in 2015, it now employs 240 people. It says its ‘mission’ is to improve the way the UK manages recycling in order to divert waste from landfills and reduce carbon emissions.
So far it claims to have successfully recycled 186,000 tonnes of paper, which is equivalent to 500,000 trees. The team has also saved 400,000 tonnes of carbon emissions.
After a series of new contract wins for the business leading to its busiest month to-date, Link Waste Group required the additional funding to help further scale its operations.
Now it has secured an asset-based lending facility from Cynergy Business Finance (CBF). CBF worked with the business to provide a flexible facility that complemented its current structure. Link’s ambitions are to grow to a £20m turnover.
Ben Donnelly, director and founder of Link Waste Group, said: “The sustainable disposal of business waste is an essential aspect of reducing the impacts of climate change. Link Waste was founded to address this pressing need.
“The impact we’ve already been able to make has been incredibly gratifying to see, allowing us to reach a position to continue to grow the business and team to expand this work.
“The CBF team made the change over from our existing providers seamless and simple, making regular visits to our site to ensure our team had all the necessary training and support. Since the changeover, we have continued to grow rapidly.”
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Luke Fitzsimmons, corporate sales director at CBF, added: “The strength of the team at Link Waste is evident in just how successful the business has been to-date.
“It was a pleasure to work with the team, allowing us to take a collaborative approach and ultimately support its impressive growth plans.”