• Business: LCM Environmental
  • Location: Devon
  • Sector Services
  • Funding line: £1.9M (CID & Asset Finance)
  • Turnover: N/A
I chose BFS as our funding partner in 2011 due to the levels of knowledge and expertise they had of our industry and of businesses our size. MARK ORR, MANAGING DIRECTOR, LCM ENVIRONMENTAL

LCM Environmental receive £1.9M in funding from Bibby Financial Services (BFS)

Having previously served in the military as a logistician, Mark Orr became a Director of LCM Environmental in 2006 after he underwent an MBO for the company he worked for, Liquid Cargo Management.

With almost 25 years of experience in fuel transportation, Mark’s industry knowledge and expertise has proven vital to the success of the businesses. 

In 2011, having been restricted by prior traditional lending products, Mark chose BFS in order to gain financial flexibility. Mark believed that BFS truly understood the concept of the business as well as the growth potential it could achieve. As well as the funding line, Mark found that BFS were often on hand to offer business advice and support when needed.

In 2016, for additional working capital, LCM Environmental were able to leverage their existing machinery in a refinancing agreement in order to create an Asset Finance funding line worth £125,000. The extra capital allowed for flexible cashflow management within the company. 

The success of this business model has landed LCM Environmental notable debtors such as Morrisons, Greenergy and the Ministry of Defence. 

Mark Orr, Managing Director, LCM Environmental commented: “Managing our cashflow has been imperative to the success of our business so far and our Confidential Invoice Discounting (CID) and Asset Finance facility has been invaluable to the operations of our business. 

“We’ve stayed ahead of our competition due to our focus on innovation and technological advances in our industry, which enables us to manage client fuel needs safely and efficiently. 

“I chose BFS as our funding partner in 2011 due to the levels of knowledge and expertise they had of our industry and of businesses our size. They believed in what we wanted to commercially achieve and had the corporate product that matched our growth ambitions.  

“Having had a successful CID funding facility for years, we decided to opt for an Asset Finance line in December 2016 to unlock further cashflow within the business." 

Siouxsie Millard, Relationship Manager, Corporate at Bibby Financial Services said: “LCM Environmental is a great example of a business that is thriving using invoice finance and has additionally spotted opportunities to release working capital through refinancing. 

“Our invoice finance and Asset Finance teams work synergistically to support LCM Environmental with the funding they require. 

“Mark’s military experience and extensive industry experience has proven highly beneficial to the success of the business and we look forward to seeing his continued success in the future.”

 


Contact Icon

Talk to a member of our team today on 0808 163 1060

or