TaskMaster Resources Secures £15m Funding Package From BFS

The package includes a £2 million cashflow loan and a £13 million invoice discounting facility, helping the company fast-track acquisitions and scale operations.

Founded in 1996, TaskMaster provides temporary and permanent staffing across sectors like warehousing and industrial. The funding has already supported the acquisition of part of a competitor’s business in South-West England, expanding TaskMaster’s national presence and moving it closer to its goal of reaching £100 million in annual revenue.

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The deal includes a flexible three year loan with a repayment plan tailored for smooth integration post acquisition.

The transaction was initiated by Stephen Hand of BFS and Mark Keegan of Adama Capital who had previously worked together on another refinancing project. Their continued collaboration led to this successful agreement.

The deal was led by Glenn Souter (Corporate Business Development Manager, BFS), with support from Simon Thomas, Andrew Strike, and Kate Jackson. BFS’s senior leadership team ensured a swift approval and execution within a tight timeline.

Mark Keegan, Financial Director at Adama Capital, commented: “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, whilst enabling a wider share of the industrial recruitment market.”

Glenn Souter 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.”

With the funding secured, TaskMaster is now well-equipped to strengthen its market presence, drive sustainable growth, and expand across the UK.