Construction group builds growth plans with £35m funding boost
Preston-based Eric Wright Group has refinanced with an increased funding package of £35m from Royal Bank of Scotland as it looks ahead to a pipeline of major projects.
It said the additional funding will ensure the group continues to see growth, stability and profitability over the long term, further establishing itself within the North West construction and real estate sector and supporting future projects.
The group, based in Bamber Bridge, employs 645 people across the region working within a number of sectors.
Among its current projects is the 65 hectare Cuerden strategic development site being brought to market in partnership with Lancashire County Council.
The construction business is also heavily involved in the construction of numerous private residential schemes within central Manchester, helping the regeneration of areas around Ancoats.
The group is 100% owned by a charitable trust, enabling the business to retain a close relationship with the community in the North West by reinvesting its profits through donations and corporate social responsibility initiatives.
Jeremy Hartley, group managing director, said: “The increased facilities provided by Royal Bank of Scotland will ensure our business continues to grow and deliver its strategic objectives across all its areas of activity. The pipeline of future projects is very exciting and the renewal is timed extremely well to support the future development of the business.”
Andy Clarke, director of Royal Bank of Scotland real estate finance, said: “2018 looks set to be an excellent year for Eric Wright Group as it drives forward its ambitious growth plans. It is very rewarding to have supported them on this journey.”
