Friday, September 14, 2018

News: Hatfield bags funding for growth

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Rotherham-based Hatfield Energy has secured an eight figure finance deal to support the firm's fast growth.

The family-owned firm has been based in Rotherham for over 45 years. It has evolved at a fast pace offering bulk commodity supply into heavy industry with an ever-increasing portfolio of secondary and virgin raw materials.

In 1985 Roy Hatfield Ltd moved to Templeborough with a custom manufacturing facility and on site laboratory which is where the company still operates from today. Hatfield Energy can accept and process thousands of tonnes of select bulk materials and industrial wastes. The combined group has four main areas of operation: the metals and minerals division; Hatfield Energy Ltd; gypsum recycling; and industrial and environmental services.

Hatfield Energy is on track to reach its forecast group turnover of over £30m at the end of its financial year in October 2018. Business finance providers, Liquidity Club worked with ABN AMRO Commercial Finance (ABN AMRO), who acted as funders on the deal, and the Asset Based Lending (ABL) facility will support Hatfield Energy's growth strategy which includes further expansion of its portfolio of products and capabilities.

It works by accessing cash held within the debtor book and inventory assets, thereby giving Hatfield Energy access to working capital to support future growth.

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Chris Lambert, finance director at Hatfield Energy (pictured, right), said: "This is an exciting period of growth for Hatfield Energy and we are looking to build further on this success which was highlighted when we were recognised in this year's Fastest 50 Growth awards. The management team have worked hard in recent years to grow the business and have high aspirations for the future as we are set to reach a group turnover of over £30m this year.

"The support provided by Adam Simpson at Liquidity Club has been great. Adam knows the market well and has made my life a lot easier by presenting the appropriate funding package to assist our growth plans."

Adam Simpson, director of Liquidity Club (pictured, centre), said: "Hatfield Energy is a thriving business who have recorded impressive growth and an appetite to build on this success. I am delighted to help one of Yorkshire's fastest growing companies to secure the appropriate funding deal to support their continued growth aspirations.

"The ABL facility will work well to support their strategy because it is linked to assets which means funding can be increased as the business expands."

Austin Thorp, sales director at ABN AMRO Manchester (pictured, left), said: "ABN AMRO is delighted to be able to support Hatfield Energy with its continued growth trajectory - a long established business with a strong management team, which we are confident can deliver its plan. Working in conjunction with the Liquidity Club, Hatfield's funding requirement was clearly identified, and a suitable funding solution provided to meet their growing business needs."

Hatfield Energy website

Images: ABN AMRO

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