TaskMaster Resources secures £15m funding from BFS

TaskMaster Resources Ltd, a prominent workforce solutions provider headquartered in Leeds, has secured a £15 million funding facility from independent SME lender Bibby Financial Services (BFS) to accelerate its national expansion.

The funding package includes a £13 million Confidential Invoice Discounting (CID) facility and a £2 million flexible cashflow loan. The capital injection has already enabled TaskMaster to acquire part of a competitor’s trade in the South-West of England, marking a significant step toward its goal of reaching £100 million in annual revenue.

Established in 1996, TaskMaster Resources delivers temporary and permanent staffing solutions across a wide range of sectors, including warehousing, logistics, and industrial services. The new funding will help the business strengthen its national footprint and pursue further growth opportunities in an increasingly competitive labour market.

The three-year cashflow loan includes a tailored repayment structure designed to support the business through its post-acquisition integration phase. The transaction was initiated by Stephen Hand, Invoice Finance Sales Director at BFS, working closely with Mark Keegan of Adama Capital, who originally introduced the opportunity to BFS after building a relationship with their team through a separate refinancing project.

Glenn Souter, Corporate Business Development Manager at BFS, led the transaction, with support from Assistant Corporate Manager Simon Thomas, Underwriter Andrew Strike, and Onboarding Specialist Kate Jackson. The deal received swift approval from BFS’s Senior Leadership Team and Board, ensuring timely delivery under tight deadlines.

Commenting on the deal, Mark Keegan, Financial Director at Adama Capital, said: “After introducing BFS to TaskMaster’s business, the funder delivered a structure and timeline that worked for TaskMaster and matched its ambition.

“BFS’ commercial understanding, transparency, and ability to move quickly made all the difference, putting TaskMaster in a strong position to grow sustainably, aspire for larger contracts and expand its geographical outreach across the UK.”

Glenn Souter of BFS added: “TaskMaster Resources is a well-run, forward-thinking business with a clear growth strategy – and BFS has a track record in supporting acquisition-led growth.

“We’re proud to be supporting TaskMaster at such a pivotal stage, and we look forward to helping the business achieve its goals.”