Greater Manchester-based waste management specialists SED Services has expanded its operations with the acquisition of a state-of-the-art composting site, thanks to funding from Paragon Bank.
Based in Ashton-in-Makerfield, SED Services offer cost effective, environmentally friendly, and safe recycling solutions for non-hazardous wastes that can be spread back on the land as feed for the soil - recycling the nutrients and reducing greenhouse gas emissions.
Located in Kirkby, the freshly acquired facility has recycled more than a million tonnes of green waste that would have previously gone to landfill and will support SED Services deliver contracts secured with the Greater Manchester Waste Authority and five of the six Merseyside Authorities.
The site was successfully secured after SED Services approached Paragon to inspect, value, and refinance existing, unencumbered assets.
Recognising both the potential for the new facility and the strength of SED services operations, Paragon was pleased to fund the remaining capital necessary to acquire the Kirkby site.
Commenting on Paragon’s funding support for SED Services Debbie Baldwin, SED Services Finance Director, said: “Working with Paragon has been a breath of fresh air. After talking with other banks and finding their processes time consuming and cumbersome, Paragon provided us with the support required in a timely and efficient manner, enabling us to acquire the Kirkby facility and expand our operation.”
She continued: “Paragon took the time to understand our business, saw potential for the Kirkby facility, and share our passion for providing customers with high quality and environmentally friendly services.”
Commenting on the funding arranged SED Services Chris Shaw, Paragon Business Development Manager for Construction said: “It has been pleasure working with SED Services and I’m delighted that we have provided them with the financing necessary to secure the Kirkby site. We share their passion for protecting the environment and I can’t wait to see the facility go from strength to strength.”
He continued: “It is vital that fantastic businesses, such as SED Services, are able to access the funding they need to invest in their operations – and Paragon is proud to support Britain’s SMEs and the role they play in driving growth in the national and regional economies.”
For further information contact:
Tom Frew
Media Relations Manger
Paragon
E: [email protected]
www.paragonbank.co.uk
Notes to editors:
Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551.