Waste Recycling firm, Pinden Ltd, to continue growth trajectory with £5.7m funding from Shawbrook Bank

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  • Pinden to invest in state-of-the-art plant and machinery
  • Acquisitions also in the pipeline to accelerate continued growth trajectory
  • Full suite ABL facility provided by specialist lender, Shawbrook Bank

Pinden Ltd, a third-generation family business operating within the waste and recycling sector, is to continue its growth trajectory following a £5.7m asset-based lending (ABL) facility provided by Shawbrook Bank.

The Kent-based business is now primed to make strategic acquisitions, cementing foundations for future growth as well as embarking on immediate investment in state-of-the-art plant and machinery.

Shawbrook Bank, a specialist lender to UK SMEs, is supporting Pinden Ltd through a £5.7m full suite ABL facility.

 

Peter Osmond, Head of Finance at WICD Group, owners of Pinden Ltd, said:

“The finance provided by Shawbrook positions the business strongly as we look to continue our growth and diversification.

“Due to the complexities of the environmental regulations and also the difficulties in obtaining permits to operate, its imperative to be able to move quick to opportunities and developments within the market to maintain competitiveness.

“The finance from Shawbrook will allow us to immediately invest in the business, bringing on board new, state-of-the-art equipment and machinery while at the same time allowing us to continue our growth trajectory organically and through the completion of strategic acquisitions.”

He added: “Shawbrook adopted a flexible approach in providing this finance; taking the time associated with being a true specialist lender in this sector to understand the intricacies of our business and the overall benefits that providing this facility would mean for us.

“We are delighted to be establishing a new relationship with a supportive bank which is client focused and relationship driven.”

The WICD Group, owners of Pinden Ltd, is a near century-old business managed by the Bishop family since 1929. The firm has specialised in waste removal and recycling after it diversified following the purchase of land, quarry and landfill operations as well as recycling centre in Dartford in 2004.

In more recent times – and to meet strict new requirements of achieving near zero to landfill targets – the firm also invested in a new waste and recycling plant that not only produced refuse derived fuel for the waste to energy market but also increased the capacity of the material that could be processed.

 

John Hunter, Relationship Director within Shawbrook’s Corporate Lending team, said:

“Pinden Ltd has an excellent reputation for both the level of service and quality of work that it undertakes and is looking at an exciting future with plans to invest further as it aims to maintain its position at the forefront of the industry.

“The business is also well positioned with its recycling facilities and waste transfer stations to take advantage of the growing social conscience with regards pollution and waste. Climate change most likely will push Governments and the public to choose more recyclable materials and produce less waste.

“For Shawbrook, this was an excellent opportunity to support a business with a strong heritage in waste management. The current third generation leadership, coupled with the fourth and fifth generation successors, have both the expertise and ambition required to flourish in these modern times. As a funder, we are relationship driven – which ticked the boxes for Pinden’s management – and this is an excellent opportunity for us to support Pinden Ltd in their future growth and expansion.”

 

Shawbrook was introduced to this deal by Integritas Financial.