Civil Rail Solutions secures £3 million funding for expansion

Posted: 18 June 2024 | | No comments yet

Civil Rail Solutions Limited has secured a £3 million funding line to support its growth and meet increased demand for labour in the rail and construction industries amid Network Rail’s new investment plan.

Civil Rail Solutions secures £3 million funding for expansion

Credit: Civil Rail Solutions

Civil Rail Solutions Limited (CRS), a labour supplier for the rail and construction industries, has announced that it has secured a £3 million confidential invoice discounting funding line with independent SME funder Bibby Financial Services (BFS). This funding comes as Network Rail begins its £45.4 billion five-year investment plan, known as Control Period 7, initiated in April 2024. The funds are intended to help CRS meet the increasing demand for skilled labour in the industry.

Founded in 2008 and headquartered in Ashford, Kent, CRS operates nationally, providing personnel solutions to clients including Network Rail, London Underground and Transport for London (TfL), along with various contractors within the rail and construction sectors. The company expanded in 2016 by opening a regional office in Doncaster, South Yorkshire, to enhance its ability to deliver local labour on a national scale.

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The funding package, arranged through an introduction by Amanda De Courcy of ADC Financial, includes a £3 million confidential invoice discounting package based on CRS’s accrued income. CRS chose BFS among other funders due to BFS’s flexibility, understanding of the rail sector and tailored invoice finance solutions designed to provide working capital for new and existing contracts.

Mark Mason, Chief Executive Officer at CRS, said: “As we enter this new control period for the UK rail sector, we are in a great position to continue our growth journey as a strategic labour supply partner to industry leading rail contractors. Due to the complex nature of these industries, we were looking for a partner who understood both our sector and ambition, and would be able to provide the flexibility we need to respond to evolving demands in the sector. BFS were able to demonstrate both, and we look forward to working with the team in 2024 and beyond.”

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