Hatfield Energy are on track to reach its forecast group turnover of over £30million at the end of its financial year in October 2018. Liquidity Club worked with ABN AMRO Commercial Finance (ABN AMRO) who acted as funders on the deal.
Firmly established as a family owned, pioneering Yorkshire business, Hatfield Energy has been based in Rotherham for over 45 years. It has evolved at a fast pace offering bulk commodity supply into heavy industry with an ever-increasing portfolio of secondary and virgin raw materials. Operating from a six-acre site, Hatfield Energy can accept and process thousands of tonnes of select bulk materials and industrial wastes. Resourcing, recycling and reusing industrial wastes and by-products from heavy industry has been a core part of the business for the last 40 years.
The business is today run by the second family generation of brothers, Grant and Mark Hatfield and employs over 40 people. It boasts many awards having recently been recognised in Yorkshire’s Fastest 50 Awards in 2018 (Yorkshire Post/Ward Hadaway) and in 2014 won a coveted Queens Awards for Enterprise – Innovation.
The ABL facility will support Hatfield Energy’s growth strategy which includes further expansion of its portfolio of products and capabilities. The facility was facilitated by Adam Simpson from Liquidity Club and has been provided by AMB AMRO. It works by accessing cash held within the debtor book and inventory assets, thereby giving Hatfield Energy access to working capital to support future growth.
Chris Lambert, Finance Director at Hatfield Energy said:
"This is an exciting period of growth for Hatfield Energy and we are looking to build further on this success which was highlighted when we were recognised in this year’s Fastest 50 Growth awards. The management team have worked hard in recent years to grow the business and have high aspirations for the future as we are set to reach a group turnover of over £30million this year. The support provided by Adam Simpson at Liquidity Club has been great. Adam knows the market well and has made my life a lot easier by presenting the appropriate funding package to assist our growth plans."
Adam Simpson, Director Liquidity Club said:
"Hatfield Energy is a thriving business who have recorded impressive growth and an appetite to build on this success. I am delighted to help one of Yorkshire’s fastest growing companies to secure the appropriate funding deal to support their continued growth aspirations. The ABL facility will work well to support their strategy because it is linked to assets which means funding can be increased as the business expands."
Austin Thorp, ABN AMRO Manchester Sales Director said:
"ABN AMRO is delighted to be able to support Hatfield Energy with its continued growth trajectory - a long established business with a strong management team, which we are confident can deliver its plan. Working in conjunction with the Liquidity Club, Hatfield’s funding requirement was clearly identified, and a suitable funding solution provided to meet their growing business needs."