Back
Asset Finance

Greenbank Group unlocks cashflow to support major growth

Greenbank Group, a Derbyshire-based heavy engineering business, has secured an asset-based lending facility to support the growth of its largest division, Franklyn Yates Engineering. The funding allows the business to manage large contracts more efficiently and helps prepare for further expansion as AMP8 begins across the water industry.

Greenbank Group is made up of four UK-based engineering companies, each providing design, manufacturing and installation services to major industrial clients. The group works across multiple sectors including power, cement, energy from waste, steel, food, bulk handling, rail and water/wastewater.

Based in Derbyshire, the Group has grown significantly to a turnover of around £17 million in 2024. With over 100 staff and over 60 regular contractors, Greenbank delivers high-spec engineering projects across the UK and Ireland.

Its Franklyn Yates Engineering business, traditionally involved in the water and wastewater industry, under Greenbank’s tenure, has been developed to operate in food, energy, including grid stability and carbon-capture markets, and has grown steadily since its acquisition in 2020, reaching £12 million turnover last year.

Until recently, the business had no external funding in place. As projects became larger and more complex, this created a need to provide additional working capital to aid cashflow. Many contracts extend beyond the planned timelines and the business must often fund this extension of time before any compensation is received.  With the start of AMP8 – a new regulatory period that will see significantly more investment in the water industry – Greenbank sought a funding partner that could support future growth while giving the business more flexibility.

What our client said

AThe whole process was very smooth. Stef and David worked together to sort it all out. Stef was proactive, supportive and pleasant to deal with. He really knows his stuff – his sector-specific advice was second to none and he was very encouraging. I’ve already recommended him to other businesses."

Charles Conroy, CEO, Greenbank Group

What we thought

AIt’s historically difficult for a contracting firm to get a funding line because it's considered a higher risk business. But Greenbank is a great and innovative company with significant heritage and IGF recognised this. With strong assets and big growth plans, it was a good fit for asset-based lending. Growth always brings some cashflow challenges and I’m glad we could help."

Stefan Radymski, Director - Evolve Business Finance

Our partner commented

AI’ve worked with Greenbank for a quite a few years now and I introduced Charles to Stef because I knew he’d get it. Stef identified four funders and helped the team settle on IGF. He knows how to present deals to lenders and he was involved every step of the way. Not all brokers are created equal - Stef was proactive and gave Charles and the team the support they needed to move forward."

David Kaplan, Partner - Rothera Bray LLP