Westgrove Group Secures £6m of Funding Independent Growth Finance

Inside Market Place Shopping Centre in Bolton Westgrove Group, a fast growing facilities management company based in Warrington, Cheshire, has secured funding of £6m from Independent Growth Finance (IGF).

The funds will be used to provide working capital and support the growth of the business.

Since its formation in 1998 the company has grown steadily, providing security, cleaning, maintenance, customer service and operational support across some of the UK’s largest regional shopping centres, mixed-use destinations, corporate offices, leisure and manufacturing sectors business parks and airports.

These include Touchwood Shopping Centre in Solihull, a contract that mobilised in November 2020 and is over five years, valued at over £10m. The group also have a long-standing relationship with Market Place Shopping Centre in Bolton.

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This new funding will enable the business to hone its offering, grow and strengthen its customer base, and target more sectors including hospitality. A recruitment drive is also under way to aid the business’s growth.

Simon Whittle, Chairman and co-founder of Westgrove said: “In IGF, we knew we had found a partner with a positive, action-oriented mindset, that understood our vision.

“They were able to progress discussions at pace and offer us precisely the flexibility that we need in order to achieve the growth we are envisaging.”

Richard Spielbichler, ABL (Asset Based Lending) director at IGF, added: “We are proud to partner with Westgrove Group to support the business’s next chapter of growth.

“IGF took the time to understand the business’ requirements and Management’s future strategy, ensuring that we put in place a flexible funding package that will enable the business to strengthen its offering, as it turns its sights on new sectors as well as opportunities within its existing customer base.”