Monday, June 12, 2017

News: Rotherham waste firm bags £500k funding boost

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KCM Waste Management has secured a £500,000 business loan from NatWest and a seven-figure investment from asset finance provider Lombard as it expands its Rotherham operations.

The family firm was established 30 years ago and provides waste disposal services to commercial and domestic clients across South Yorkshire from its base at Gin House Lane, where the expanding company has purchased further land for expansion.

An adjacent site was up until recently used by another company (Balmforth Transport) and was sandwiched between two KCM sites. Balmforth vacated the site and KCM stepped in to purchase it. A parcel of land to the North has recently been granted planning permission to be used by KCM as part of its waste management business for storage and distribution and permission was subsequently granted on the new site for a haulage yard and storage and distribution centre.

The whole site reconfiguration will include the relocation of head offices back to Gin House Lane where up to ten new jobs are set to be created.

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Emma Hickling, financial controller at KCM Waste, said: "We have identified several opportunities to consolidate and expand, so this investment comes at a perfect time for the business.

"The process of working with NatWest, the funding partners and our accountants Brearley & Co has been very collaborative and we have been involved and kept informed every step of the way."

The funding packages were achieved through collaboration between the Hickling family, NatWest, Lombard, RBS Invoice Finance and Brearley & Co Accountants.

Mark Smallman of Brearley & Co, said: "The implementation of improved financial systems has enabled the directors to receive regular accurate management accounts.

"Frequent meetings regarding finance have provided the directors with the information and confidence to invest in assets that are streamlining operations at KCM Waste."

A fire destroyed the original KCM offices in 2013 and the funding will enable the owners to add new income streams to existing waste management, recycling, collection and skip hire services.

Lombard, the asset finance provider which began hiring out rolling stock to the railways as the North Central Wagon and Finance Company in Rotherham in 1861, has also injected a seven-figure sum into the business, which will be used to purchase, install and operate an energy efficient biomass boiler.

Aaron Carter, senior relationship manager at NatWest, added: "Over the past five years KCM Waste has achieved strong growth, increasing its workforce and giving back to the area by supporting community assets and facilities.

"The Hickling family has a clear strategy for long-term growth and this funding will allow them to identify new revenue streams while improving the day-to-day operations of the business."

KCM Waste website
Brearley & Co website
Lombard website
NatWest website

Images: NatWest


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