Cardiff-based Smart Solutions, a recruitment services business, has recently announced the successful acquisition of an £18m aggregated confidential invoice discounting facility from Cynergy Business Finance (CBF). This financial boost will provide working capital across the three businesses under the Smart Solutions umbrella, including Heat Recruitment and Bridgestone Group, enabling the group to expand its presence in the UK market.
Established in 2007, Smart Solutions specialises in temporary recruitment across various sectors, including a dedicated division for waste and recycling. In a strategic move, Robert Webb, the majority shareholder of Smart Solutions since November 2023, acquired Heat Recruitment and Bridgestone Group. The CBF statement highlighted that both these entities operate with a “similar sector-agnostic approach,” offering tailored services across a wide range of industries.
The collaboration between Smart Solutions and CBF was facilitated by management consultancy firm TGL Solutions. By cultivating a strong relationship with Smart Solutions’ management team, CBF was able to structure a confidential invoice discounting facility that will fulfil the working capital requirements of the three businesses. This tailored financing option also offers flexibility to fund new opportunities aligned with the strategic growth plans of the group.
It is noteworthy that CBF is the asset-based lending subsidiary of Cynergy Bank, further enhancing the credibility and support behind the financing secured by Smart Solutions.
This development signifies a significant milestone for Smart Solutions as it positions itself for further growth and expansion in the UK market. The secured financing will undoubtedly provide the necessary support for the group to pursue its strategic objectives, supporting its continued success and presence in the recruitment industry.
The decision to secure this financing facility aligns with Smart Solutions’ commitment to bolster its operations and further solidify its presence in the UK recruitment market. With the support of CBF, the group is well-positioned to navigate the competitive landscape and seize new opportunities for growth and expansion.
In conclusion, the recent announcement of Smart Solutions securing an invoice facility from Cynergy Business Finance underscores the company’s strategic vision for growth and expansion. The collaboration with CBF and the strategic financing arrangement are testament to Smart Solutions’ commitment to enhancing its operations and establishing a stronger foothold in the UK recruitment industry. This development is certainly one to watch as Smart Solutions continues to chart its path towards sustained success and growth in the foreseeable future.