On-Site Group launches finance service
Recruitment specialist On-Site Group has acquired financial services company Crest Finance to form On-Site Finance. The two Portsmouth-based businesses have worked together for a number of years.
Crest Finance was established in 2012 by Onsite-Group chairman and CFO, Trevor Deacon, with his son Ryan joining the company a year and a half later. At the time of the Crest acquisition, the 12-strong team had grown to be one of the largest lenders on the South Coast for business funding. With many businesses hit hard by Covid-19, Crest Finance has provided important services in helping SMEs to seek financial support through the Coronavirus Business Interruption Loan Scheme.
Under the On-Site Finance banner, in addition to supplying white and blue-collar labour to construction, mechanical, electrical and data communications sector clients in the UK and across Europe, the business will also offer an extensive range of business finance and funding services, including asset finance, invoice finance and property finance.
Deacon said: “While it’s an emotional moment losing the name of Crest Finance, this is an exciting opportunity for all of the Crest team to join On-Site Group in this challenging time. Having raised over £100 million of funding for businesses over the past eight years, alongside the provision of specialist B2B telemarketing campaigns, the business is a perfect fit for the Group for the provision of in-house services and raising finance for clients of On-Site.”
On-Site Group managing director Richard Whale added: “This is another exciting acquisition for On-Site Group. Crest Finance is a business that we have worked closely with for many years. Their culture and ambition have always impressed us and we are very excited that this opportunity has arisen.
“We are confident that this will offer opportunities that not many of our competitors can and that our suite of services continues to expand.”
