West Sussex-based Sweeptech saves 34 jobs out of administration

Waste management services provider Sweeptech has saved 34 local jobs in Ellesmere Port, Cheshire after receiving an eight-figure funding package from HSBC UK.

The West Sussex-headquartered business used £1.75 million of the funding to acquire three depots from Go Plant Ltd, which went into administration earlier this year.

The 34 jobs saved include operations and commercial managers, along with drivers and technicians that service the depot at Ellesmere Port.

The acquisition is part of Sweeptech’s business development strategy to deliver national 24-hour servicing for customers in infrastructure and construction, as well as airports across the country.

The wider funding from HSBC will support the business’ working capital requirements.

Sweeptech 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 of £50 million in the next 12 months.

Martin Smith, CEO of Sweeptech, said: “HSBC 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, 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.”