Security services business Corps Security has secured financing with a £5 million invoice discounting facility. Asset-based lending was provided by finance partner Leumi ABL following a recommendation from an existing Leumi ABL client.

Security services business Corps Security has secured financing with a £5 million invoice discounting facility. Asset-based lending was provided by finance partner Leumi ABL following a recommendation from an existing Leumi ABL client.

Established 151 years ago in London, Corps Security is embarking on a period of significant reorganisation and brand development in order to increase its market share.

Originally the business was established to provide employment for injured ex-serviceman returning from the Crimean War. Since 1901 Corps Security has enjoyed Royal patronage.

Peter Webster, CEO of Corps Security, comments: ‘Corps Security is a progressive and flexible security partner to its customers and, as such, we needed to find a financial partner that could provide those services under the same ethos.’

Steve Nixon, regional sales director at Leumi ABL, says that the deal had a number of challenges.

He adds: ‘We wer asked to fund a pre-assigned debt and needed to generate sufficent headroom to replace facilities from both the existing invoice discounter and the bank’s senoir debt.’

Funding provided by:

Leumi ABL
126 Dyke Road
Brighton, East Sussex, BN1 3TE
Email: pwoodward@leumiabl.co.uk
Tel: 01273 716200
Mob: 07900 802 774
Web: www.leumiabl.co.uk