A refrigeration and air conditioning business which serves McDonald's, Nando’s and KFC has secured a £3 million funding package.

Flowrite Services installs and maintains fridges and walk-in coolers for the retail and hospitality sector across the UK.

Headquartered in Maidstone, it employs 140 staff and plans to increase this by 5% over the next two years following the cash injection.

Established in 1992, it already has 100 engineers working across the country.

The company will grow with a £2.75 million invoice finance facility, which will allow it to gain immediate payment on invoices.

It has also been given a £175,000 loan with Secure Trust Bank Commercial Finance, secured against existing property.

This will help the business to free up vital cash flow to invest in a new intelligent response unit.

This new technology will work as a remote monitoring tool, which will allow the engineers to identify potential issues with customers’ equipment before they occur.

Tod Harrison, chief executive of Flowrite Services, said: “Malfunctioning equipment can have a damaging effect on our clients’ income.

“Having seen this first-hand, we needed support to develop a system that could help prevent this.

“We are now able to offer unrivalled service to our customers and strengthen our reputation in dealing with requests and issues promptly.

“Secure Trust Bank Commercial Finance understood the opportunity that the business had, as well as taking the time to understand the challenges, and were able to provide funding we needed.”

Tony Young, regional sales director at Secure Trust Bank Commercial Finance, said: “Flowrite Services is a fantastic business with a number of impressive clients.

“To take its offering to the next level, it needed a facility that could grow alongside the business and allow it to invest in additional staff and innovative solutions for its customers.

“We worked closely with the management team to create a flexible form of finance that suits the company’s needs.”