Stansfield International Ltd

Business Loans Case Study

Pictured (left to right): Martin Bell, Corporate Director of RedSky, Ian Atkinson at Finance Yorkshire and Plamen Ivanoff, Executive Chairman at GrassGreener Group

The Company

Formed in 2007, Stansfield International Ltd, which trades under the name GrassGreener Group™, is a leading West Yorkshire executive recruitment agency.

Based in Leeds, GrassGreener Group™ specialise in the strategic recruitment of sales executives and senior management positions for major manufacturing and distribution organisations.

It is well known for its rigorous methods, smart strategies and support as a source of insight, knowledge and advice.

The Challenge

Plamen Ivanoff, Executive Chairman at GrassGreener Group™, said: “The investment from Finance Yorkshire will make our expansion plans for the future possible.

“Having already secured funding from Yorkshire Bank, the extra funding from Finance Yorkshire will now allow us to grow in the way we have imagined.

“Finance Yorkshire really understood our requirements from the very start. They shared in our vision for the business and were extremely supportive.

“In an industry such as recruitment that has struggled in the last few years, at GrassGreener Group™ we have increased turnover by at least ten per cent in all but one of the years since our formation in 2007.

“We’ve now been rewarded with our hard work with this investment that will enable to move forward in the way we envisage.”

The Solution

The company was introduced to Finance Yorkshire through Martin Bell, Corporate Director of RedSky - a North Yorkshire business solutions company.

GrassGreener Group™ received a business loan from Finance Yorkshire, which was immediately impressed with the company’s potential.

The investment will be used to expand the company, with new jobs created and more people joining the team, as well as an expansion on their current office space.

“At the start of the year we had a small team of 11 people,” said Plamen. “With the funding, we have already employed another four team members and we are hoping to employ another four by the end of the year, doubling our staff levels in the space of 12 months.”

The Investment Rationale

Ian Atkinson, Finance Yorkshire’s Investment Manager, said: “We could see from the quality and experience of GrassGreener Group’s™ management team that this was a good investment for Finance Yorkshire.

“With our funding, the company will be able to expand and create more jobs, with an expansion on their existing premises also on the horizon.

“We continue to be impressed with their vision and we hope to continue to support them for many years to come.”

Future Expectations

Added Plamen: “As the company grows we’d like to create more jobs and expand our current office space to allow for our company’s expansion.”

Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire

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