Turner & Townsend, one of the UK’s leading professional providers of programme management, project management and cost management has successfully managed to confirm a financial package worth some £80m from three of the UK’s leading banks, namely: Royal Bank of Scotland, HSBC and Lloyds Commercial Bank. The announcement sits alongside the £380m turnover company’s recent conversion into a limited liability partnership.
As a company with a keen focus on investment back into the company, sources as Turner & Townsend highlight the importance played by such investment in the company’s ability to steadily grow its turnover over the last five years. As Vincent Clancy, Chief Executive of Turner and Townsend (pictured) noted that the recent developments will allow the company to: “Invest in our capability and to continue to transform our business to deliver better results for our clients.”
The package, which Turner & Townsend has secured on a five year revolving credit, is aimed to facilitate the future growth of the organisations and will provide much-needed working capital. Key areas of investment for the organisation will involve the expansion of the company’s reach, geographically, and also in terms of services and its overarching capacity to deliver on them.
The plans come at a time when the construction industry, in its present state, is considered to be performing well and will allow for Turner & Townsend to maximise on the opportunities presently available in the market. With keen backing from all three of the major banks, both confidence in Turner & Townsend, as well as the confidence it exudes, is considerable, with great anticipation for the future direction of the company.