Leonard Curtis Business Solutions Group plans national expansion after securing funding package
Recovery and restructuring group Leonard Curtis has secured a £5 million funding package with The Co-operative Bank to finance a national expansion of the business.
The Leonard Curtis Business Solutions Group, which employs 150 people across 8 offices including Manchester, London, Birmingham and Bristol, will also use the funds to grow the turnaround and debt advisory division, Corporate Strategies.
Paul Reeves, Business Development Director at Leonard Curtis said: "We have an exciting vision for Leonard Curtis and for Corporate Strategies and securing this funding package means we will be able to turn it into reality."
"With so many businesses struggling with issues like Crown arrears; finding access to funding difficult or experiencing cash management problems often due to bad debts - we have seen unprecedented demand for debt advisory services. It's a part of the business that has been growing strongly and we will now be able to accelerate this process."
"We will also be using the funding to continue our national roll-out which most recently saw us open our Bristol office."
The funding package follows the recent key appointments of Daniel Booth as national Head of Corporate Strategies and Jon Mercer as Group Finance Director, who said: "This facility will allow us to accelerate our growth plans. As well as through organic growth, our strategy may involve selective acquisitions to complement the national presence we have already developed."
The funding was arranged by Stephen Fishburn business development manager at The Co-operative Bank in Manchester.
Ian Riggs, Laura Lovell and Paul Brown at Cobbetts advised Leonard Curtis and Alasdair Mackinnon of the Manchester office of national law firm DWF advised The Co-operative Bank.
Stephen Fishburn said: "This deal underlines the fact that we are open for business and prepared to back firms with a strong management team and a clear and defined strategy for growth."