Family business Total Metal Recovery has acquired neighbouring firm A-Z Skips by using funds secured through Birmingham-based ART Business Loans and BCRS Business Loans, from Wolverhampton, retaining seven staff and adding a driver position.
The owners of Total Metal Recovery, who now employ 17 staff in total across the two companies, decided to purchase the skip hire and waste recycling business, which has the next door premises in Hanbury Road, Stoke Prior, as part of a diversification strategy to extend their waste service offering.
Total Metal Recovery is a recycling specialist which collects, processes and recycles metals to promote the circular economy while A-Z Skips offers services including skip delivery and collection, waste sorting, confidential waste destruction and aggregate sales.
The management team worked through the application processes for ART Business Loans and BCRS Business Loans to secure two six-figure deals to secure the purchase.
Total Metal Recovery Director Matthew Dunn said: “Both the lenders were very good in supporting our ambitions and thorough in enabling us to get the finance to acquire A-Z Skips, which allows us to offer the full waste service package to our customers.
“The acquisition comes at a pivotal time, with market conditions evolving and demand on the rise. We valued our experience with ART Business Loans and BCRS Business Loans, as they took a holistic approach by considering both the opportunity and the people behind the business. We are excited about what lies ahead.”
Birmingham-based ART Business Loans is a community development finance institution which seeks to ensure viable businesses in the West Midlands and adjoining counties can access finance. Offering loans for any business purpose from between £10,000 and £250,000, ART Business Loans takes a personal approach to assessing applications.
Business Lending Manager Roz Haque said: “Total Metal Recovery’s acquisition of A-Z Skips is an excellent example of how the right funding can help established businesses expand their capabilities and serve their customers better.
“We are pleased that ART Business Loans could provide the support to realise their business growth plans, capitalising on an opportunity literally next door to their existing premises. Their focus on providing trusted services shows the kind of sustainable growth we like to support.”
Wolverhampton-based BCRS Business Loans, also a community development finance institution, provides loans between £10,000 and £250,000 to small to medium sized enterprises across the Midlands and Wales who are unable to access the finance they need from traditional sources.
For more information on ART Business Loans visit: artbusinessloans.co.uk Visit www.bcrs.org.uk to discover more about BCRS Business Loans.