MORE than 30 jobs have been saved at a leading waste management services provider in Ellesmere Port thanks to an eight-figure funding package from HSBC.

Sweeptech, based in West Sussex, used £1.75m of the funding to acquire three depots from Go Plant Ltd, which went into administration earlier this year. A total of 34 jobs were saved, including operations and commercial managers, drivers and technicians that service the depot in Ellesmere Port.

The company has plans to deliver national 24-hour servicing for customers in infrastructure and construction, as well as airports across the country. The wider funding from HSBC UK will support the business’ working capital requirements following the growth enabled by the acquisition.

The business is expecting to create 350 new jobs around the country by the end of 2024 as a result of the acquisition, with a revenue increase to £35 million and further projected growth to be £50 million in the next 12 months.

Martin Smith, Chief Executive Officer at Sweeptech Environmental Services, said:

“HSBC UK has been a continuous trusted partner for us, providing unwavering financial support during our relationship and again throughout this pivotal acquisition. The bank’s expertise and commitment has played a crucial role in our growth strategy, allowing us to save jobs and position ourselves as an industry leader.”

Graeme Alston, Deputy Area Director at HSBC UK, added:

“Over the years, our close working relationship with Sweeptech has given us deep understanding and insight into the industry, enabling our team to provide the business with exactly the support needed to secure this transformative opportunity for growth.”