Aberdeen-based professional staffing provider receives growth funding line

£2.5m funding line for Raeburn Group to expand domestic presence

Founded in 1981 and based in Aberdeen, Scotland, Raeburn Group is a renowned recruitment services business, specialising in the Oil and Gas and Healthcare sectors. Following an acquisition in 2006, the business has focused on these two sectors to provide specialist staff members with industry skills.

Although Raeburn Group has traditionally supplied staff to the Oil and Gas industry, an opportunity to provide healthcare staff arose with a local contract to the NHS. The business has also expanded its staffing remit, working with councils such as Aberdeen City, Aberdeenshire, Perth & Kinross, Swindon and West Berkshire. As 90 per cent of staff are on fixed-term contracts, Raeburn Group can provide staff longevity to vital disciplines such as care work and occupational therapy.

As the Group continues to expand its presence in the healthcare sector, it needed growth funding to offset the gap between staff and debtor payment. Bibby Financial Services (BFS) provided a £2.5m funding line to the business, which reinstated working capital and mitigated cashflow pressure.

Steve Rowbottom, Managing Director, Raeburn Group said: “We’re determined to build on our success and continue to grow our market share. In BFS, we have found a funding partner who will help us to turn our ambitious growth plans into reality.

“BFS’s extensive expertise in the recruitment sector and its approach in taking the time to develop an in-depth understanding of our business has been a refreshing experience.

We were adamant on having a funding partner rather than a funder, which is why we decided to work with BFS.

Ronnie Stokes, Corporate Manager, Bibby Financial Services commented: “Raeburn Group is an excellent example of how our funding can unlock opportunities for strategic growth whilst strengthening cashflow via tailored working capital solutions.

“We’re looking forward to working alongside the directors as the business continues to expand.”.

19 November 2018

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