|Client:||A. P. Broome Landscapes Limited|
The business started to expand rapidly ten years ago with milestone contract wins, including the grounds maintenance for 17,000 electricity substations across the UK. Through the last decade the business has grown to cover the South and South West, employing 148 people across four sites, and utilising a fleet of over 90 vehicles.
Following a review of its existing facilities, APB identified that a higher level of working capital would be required to match its expansion across electric, gas, waste water and clean water site installations.
Praetura’s solution ensures that the business has a flexible facility aligned with the working capital cycle of the business and that fully supports the seasonality of the company’s services.
With third-generation Adam, working closely with his father Tony Broome in the leadership of the business, APB is set to create even more milestones as it starts to approach its sixth decade of success.
Adam Broome said: “We warmed to the people at Praetura Commercial Finance right from the start. They are very honest, open and straightforward to work with in terms of their personal style and we felt we could quickly develop a relationship. They made it clear that they were interested in our business and offered us the level of working capital on competitive terms that would enable us to achieve sustainable growth, as well as smoothing over the natural seasonal peaks in our business. You know that whatever they say they will do is going to happen. That focus on delivery and trust makes them shine out.”
Stuart Bates, Commercial Director of Praetura Commercial Finance commented: “We have considerable experience in working with growing multi-generational family businesses and are delighted to support A. P. Broome with their new working capital funding line. We recognise that generations of energy have been invested in making the business a success and have taken the time and care to ensure that the funding we put in place today is a sustainable foundation for tomorrow’s business growth.”