Caval Limited, a nationwide recruitment firm headquartered in Leeds, has secured a £9m funding package to support its ambitious growth plans and post-pandemic recovery.
Provided by NatWest, the funding will facilitate the company’s day-to-day capital spending, which includes paying the wages of up to 1000 contractors.
The funds will also help to support Caval’s post-pandemic recovery plans, which includes providing high quality temporary and permanent placements to the recovering construction industry, as well as revamping its internal systems and introducing wellbeing initiatives for all staff.
The firm will also implement more hybrid working roles, coaching opportunities and continue to recruit apprentices into the business. The firm currently has nine apprentices and three previous apprentices have secured full-time work with the firm
Founded in 2008, Caval Limited has offices in Leeds, London, Manchester, Hull, Newcastle, Sheffield and Glasgow, and has a turnover of £30m. Currently, the recruiter aids many industries including construction, rail infrastructure and facilities management, providing access to skilled workers as and when needed.
Jane Wardell, associate finance director at Caval Limited, said: “It’s fantastic to have secured the funds from NatWest, which will allow us to push forward with our impressive growth plans and continue supporting many of the 1.7 million people currently working as contractors in the UK.
“It’s no secret that the last 18 months have been extremely challenging for businesses and contractors alike, but the UK’s self-employed workforce will be instrumental in rebuilding the country’s economy. With the backing of NatWest, we’re confident we can continue to flourish in an increasingly important marketplace.
“As a company, we also continually seek to improve our internal systems, processes and operations to ensure clients and workers experience excellent services at all times. This funding package will go a long way to helping us achieve our goals.”
The deal was supported by Mark Critchlow, managing director of Clearview Corporate Advisory, broker development manager Janet Watson and Dan Anderson, business development manager at NatWest.
Dan Anderson said: “Working with Jane and the team to secure this funding package has been great, and I wish the company the best of luck with their plans for the future.
“I’m confident they will use the finance we have provided to build upon what is already a much-needed service, helping industries access skilled workers as the economy recovers from the COVID-19 pandemic.”