Invoice discounting enables recruitment firm to continue to grow
We are delighted to have helped Twenty20 Capital achieve growth by providing them with a £65m invoice discounting facility and a term loan. This has enabled the company to fund the acquisition of a large recruitment business and to fund working capital to achieve their goals.
Video transcript
Tristan Ramus, Founder
My name is Tristan Ramus, I'm the chairman and principal founder of Twenty20 Capital Limited. Over the last four years the business has grown incredibly with the partnership that we have created with Close Brothers.
Jamie Webb, Chief Investment Officer
My name is Jamie Webb and I'm the Chief Investment Officer at Twenty20 Capital.
Twenty20 Capital have done a number of deals that have been supported by Close Brothers.
We completed the last deal for the Cordant Group with the support of Close Brothers within six weeks.
Cordant Group provides workforce based solutions to a huge number of blue chip clients. Close Brothers were involved from the start, they worked with us and were able to provide a £55 million ABL facility to enable us to acquire the group.
Tristan Ramus, Founder
We've beaten all expectations and I think that's again testimony to the relationship we have with Close Brothers that we have thrived through a really ambitious turnaround.
Twenty20 capital is one of the largest employers that you've probably never heard of. We're currently paying around 100,000 people a week and Close Brothers are responsible for being able to allow us to meet that payroll cost.
Jamie Webb, Chief Investment Officer
They have been very professional, very agile, very rapid, very supportive, communication levels have been outstanding Twenty20 are very lucky to have Close Brothers as a partner.
