BAX Construction lands six-figure debt package from four Midlands lenders

What's the deal? BAX ConstructionDealroom has a profile for this one. Try Dealroom → has secured six-figure debt funding from Midlands lenders to support the growth of its West Midlands contracting business. The package includes an invoice finance facility from FlexABL, debt funding from the Midlands Engine Investment FundDealroom has a profile for this one. Try Dealroom → II through Frontier Development CapitalDealroom has a profile for this one. Try Dealroom → and BCRS Business LoansDealroom has a profile for this one. Try Dealroom →, and a term loan from ART Business LoansDealroom has a profile for this one. Try Dealroom →.

Why now? The funding gives BAX working capital to take on larger local-authority and commercial construction projects. FlexABL has increased the firm's invoice discounting facility from £300,000 to £500,000.

The numbers: Founded in 2020, BAX has grown turnover eightfold over five years to more than £7.5m and is targeting £10m in the year ahead. It employs 20 staff and around 100 contractors, and has recently secured seven-figure contracts with Wolverhampton and Sandwell Councils for social-housing work.

What does the company do? BAX provides refurbishment, maintenance and construction services, specialising in local-authority and social-housing projects alongside commercial refurbishments and urban-regeneration work.

Read more: Greater Birmingham Chambers

Image credit: Jonathan Hutchins