Preston firm Independent Inspections Group targets growth with £1.75m funding

Insurance industry assessment and restoration services provider Independent Inspections Group has been granted a £1.75m funding line by Secure Trust Bank Commercial Finance.

The funding, which follows investment from growth investor Rcapital earlier this year, has come as the Preston-based business looks to expand after a period of consolidation.

Established in 1989, today Independent Inspections Group comprises the brands Independent Inspections, Ansa Drainage Solutions and ChemDry UK, with over 300 employees and a turnover of £45m. The group’s Independent Inspections business alone turns over more than £20m.

The new seven-figure funding will enable the group to refinance its current funding facilities and free up cashflow as it works on driving growth in the coming months.

Secure Trust Bank Commercial Finance’s regional sales director, Matthew White, said: “Independent Inspections has developed a strong reputation in providing assessment and restoration for the insurance industry, and the investment from Rcapital has enabled it to focus on boosting its growth objectives.

“In order to accomplish this, the company needed a tailored and flexible finance facility in a short space of time.”

He continued: “By working alongside both the existing management team and the investors at Rcapital, we quickly understood the ambitious targets that the business had, and were able to structure a package capable of meeting their requirements.

“We are confident that with the ongoing support of both Rcapital and ourselves, Independent Inspections is in excellent shape to further expand operations in the coming months.”

Rcapital investment director Chris Campbell said Independent Inspections’ “great reputation” and “access to a strong client base” served as key factors in the company’s decision to invest back in April.

Chris explained: “However, we recognised that implementing a finance facility in a short space of time was crucial to driving future growth.

“The team at Secure Trust Bank Commercial Finance took the timeframe in their stride, providing us with a tailored and comprehensive package that facilitates the needs of the business.”

He added: “There is enormous potential for growth at Independent Inspections, and we’re confident that with our ongoing support, we can achieve this over the coming months.”

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