RBS backs further growth at AA Woods
A building services group which has six UK offices, including in Dorset, is eyeing further growth after receiving additional support from the Royal Bank of Scotland.
The bank has provided AA Woods, which specialises in asbestos removal, with an invoice finance facility since 2010, allowing it to open new regional offices, fund "major" contracts and invest in equipment and personnel.
The Essex-headquartered company, which has been operating since 1994, was acquired by the new owner in 2003.
In the year ended 31 December 2013, Woods Building Services - which trades as AA Woods - employed 120 staff and reported turnover of £7.4m.
Director Tara Petri said: "AA Woods has gone through a sustained period of growth and without the correct invoice finance facility in place this would not have been possible.
"Our working relationship with RBS Invoice Finance is exceptional and we are lucky to be surrounded by a great team that truly understand our business and what we are trying to achieve. We can continue to grow our business knowing a facility is in place working in favour of our cashflow."
George Neville-Jones, RBS Invoice Finance manager, added: "I am really pleased Tara chose invoice finance to support AA Wood's working capital.
"With this facility in place the business is able to grow on its own terms. The company's impressive track record is testament to their exceptional abilities in this specialist sector. I look forward to supporting the AA Woods team with their future plans."
AA Woods has offices in Harlow, Elland, Dorset, Milton Keynes, Pontyclun and Denbighshire.