Banbury company secures funds to power overseas expansion

A recruitment company based in Banbury has secured a financial boost as it looks to grow the business.
Rob Pattenden, director of Tech Professionals.Rob Pattenden, director of Tech Professionals.
Rob Pattenden, director of Tech Professionals.

Tech Professionals, in The Green, South Bar Street, has secured a £600,000 export finance facility that will drive its expansion.

The four-year-old technical recruitment company is building up its British clients with ambitious plans to grow overseas once the coronavirus pandemic is over.

The new funding has been provided by independent SME funder, Bibby Financial Services (BFS).

Rob Pattenden, director and founder of Tech Professionals, which has five staff and a turnover of £2.8 million, said: “The business is growing quickly so accessing the working capital we need to pursue our plans for expansion is vital. We approached BFS who were able to offer an extended funding line to support our growth.

He said: “Since the Covid-19 outbreak, while overseas projects have been impacted, we have taken on much more work with our British clients.

“Our focus right now is on keeping our contractors safe and retaining our existing clients.

“This fresh injection of funding will enable us push forward with our growth plans in overseas markets once the pandemic has cleared.”

Adrian Payne, Head of Sales Southwest at Bibby Financial Services, said: “Rob and his team have a wealth of experience and we are very happy to provide the funding they need to realise their growth ambitions.”

“Tech Professionals is an exciting young business with impressive growth - having experienced its best month on record in March despite the impact of Covid-19.”

The company supplies engineers, technicians and other expert roles across a range of industries, specialising in providing contract staff for off-shore, sub-sea projects such as windfarm construction, power cable laying and underwater robotics testing.

It has customers across Europe, China and Indonesia.

Related topics: