Companies

Cowgills secures Investec as partner for Russell Taylor Group

The Russell Taylor Group employs around 120 staff operating out of seven offices across the UK and has a combined turnover of £35m

Cowgills, a North-West accountancy group, has brokered a £5m funding deal with Investec Capital Solutions for Wirral-based specialist technical recruitment company Russell Taylor Group.

Founded in 2005, the group owns four businesses: Russell Taylor Group, Recruit Right, NMS Recruit and Perpetual Engineering Partnerships, providing technical temporary and permanent recruitment solutions for industries, including construction, engineering, manufacturing, oil, gas and energy sectors. 

Today, the business employs around 120 staff operating out of seven offices across the UK and has a combined turnover of £35m.

Having sold two further businesses in 2020, the group’s working capital requirement was reduced from a £25m facility to £5m and Cowgills specialist team was “instructed to identify new funding options with a range of lenders”.

Benjamin Day, director at Cowgills said: “We were very impressed at how quickly Investec turned around this transaction in a competitive situation. They understood the business very well and delivered every step of the way. 

“They demonstrated real flexibility throughout the process, even releasing funds for one of the group’s companies based on a side-letter before the full suite of legal documentation was in place, ensuring that vital working capital would be available to deploy immediately which is a great example of modern relationship banking in practice.”

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