The Wynnwith Group was established in 1973. Initially focused on staffing solutions for the Aerospace and Ship Building industries, The Group now has at any one point in time over 3,000 employees and contractors placed across many diverse sectors of industry. Over recent years the company’s turnover has grown rapidly, and it has moved into higher skill-set engineering applications and diversified into the automotive, telecoms, rail and training industries.
Wynnwith has ambitious plans for further growth both organically and through acquisition. These plans are being made possible by a funding package from the Recruitment Finance Division of Lloyds TSB Commercial Finance.
“The financial package from the Recruitment Finance Division has allowed us to fund our acquisition strategy,” says Noirin Guinan, Group Managing Director of Wynnwith.
“They have provided us with a very flexible working capital solution. This is imperative as the Group is constantly evolving and we need a financial package that can change as quickly as our business does.”
Stuart Talbot, Client Manager at the Recruitment Finance Division who manages the Wynnwith relationship, adds: “We provide Wynnwith with a revolving invoice finance facility, which releases over £8 million each year enabling the company to achieve its goals.
“We regularly review Wynnwith’s requirements. By working in partnership with the company, we establish an open and honest dialogue between the two parties. We pride ourselves on an excellent level of understanding of both our clients’ businesses and their future plans. This enables us and them to make faster decisions, for example with M&A discussions, we can give the client the opportunity to negotiate deals with the knowledge of the level of support they are likely to achieve from us.”