Rail labour supplier hopes to tackle industry shortage with £3M funding boost - CILT(UK)
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Rail labour supplier hopes to tackle industry shortage with £3M funding boost

13 June 2024/Categories: Industry News, Operations Management, Rail


Labour supplier for the rail and construction industries, Civil Rail Solutions Limited (CRS), has announced they have secured a £3 million confidential invoice discounting funding line with independent SME funder Bibby, Financial Services (BFS). 

With Network Rail having commenced its £45.4 billion five-year investment plan in April 2024 (known as Control Period 7), CRS has said this funding line will enable them to meet increased industry demand for labour.  

It is estimated that 50,000 people are expected to retire from the rail sector by 2030.

Following an introduction by Amanda De Courcy of ADC Financial, BFS provided a £3 million confidential invoice discounting package based on the business’s accrued income.

Amid competition with high street lenders and alternative funders, CRS said they selected BFS as its funding partner due to its flexibility, understanding of the rail sector, and ability to offer a suitable invoice finance facility that provides working capital to support new and existing contracts.

Mark Mason, Chief Executive Officer at CRS said: “As we enter this new control period for the UK rail sector, we are in a great position to continue our growth journey as a strategic labour supply partner to industry leading rail contractors.

“Due to the complex nature of these industries, we were looking for a partner who understood both our sector and ambition and would be able to provide the flexibility we need to respond to evolving demands in the sector.

“BFS were able to demonstrate both, and we look forward to working with the team in 2024 and beyond.” 

The transaction was led by Mike Reid, Corporate Sales Manager at Bibby Financial Services, who expressed his excitement to have been chosen as CRS’ funding partner as he looks forward to supporting their future growth.

“With our in depth understanding of the challenges and opportunities in the rail and construction sectors, we were able to structure a confidential invoice discounting facility that offers flexibility to support the business’s needs now and in the future,” said Mike.

 

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