TaskMaster Resources Bucks Up With a £15 Million Boost
Leeds‑based TaskMaster Resources, a top name in workforce solutions, just landed a hefty £15 million lifeline from the independent SME lender Bibby Financial Services (BFS). The deal, comprised of a £13 million Confidential Invoice Discounting (CID) facility and a £2 million cash‑flow loan, is set to fuel the company’s roaring expansion plans.
What’s the Money For?
- Taking Over a Competitor: With the new funds, TaskMaster snapped up part of a rival’s trade in the South‑West of England—doubling its national reach.
- Growth to £100 Million: The cash‑flow loan is designed to keep the wheels turning as TaskMaster integrates the acquisition and pushes toward a £100 million annual revenue target.
- Flexible Repayment: A three‑year repayment schedule scales with the business’s performance, making the financial bump as painless as possible.
How It All Came Together
Thanks to seasoned deal‑maker Stephen Hand, Invoice Finance Sales Director at BFS, and Mark Keegan from Adama Capital, the deal was struck. Keegan had already been working with BFS on a separate refinancing opportunity, which was the perfect springboard for this partnership.
The team at BFS, led by Corporate Business Development Manager Glenn Souter, pulled a swift underwriting and board approval—no red tape, just a well‑rolled business case and the confidence to push through.
Quotes That Warm the Heart
Mark Keegan, Financial Director at Adama Capital: “BFS delivered a structure and timeline that fit TaskMaster’s ambitions like a glove. Their transparency and speed put us on solid ground for sustainable growth and larger contracts.”
Glenn Souter, BFS: “TaskMaster is a forward‑thinking company with a clear growth plan. We’re thrilled to support them at this pivotal moment and are excited to see what’s next.”
Why It Matters
TaskMaster has been around since 1996, offering temporary and permanent staffing across warehouses, industrial sites, and more. With the fresh cash on hand, they’re not just staying in the game—they’re taking the lead, ready to tackle the entire UK industrial recruitment market.
So hats off to TaskMaster and BFS for making the dream of a £100 million year a reality—one invoice at a time.
