Irwin Mitchell Advises On £5m Funding Deal For Eric Wright Group

Banking & Finance Team Supports Santander Corporate & Commercial

17.03.2015

David Shirt, Press Officer | 0161 838 3094

Irwin Mitchell’s Banking & Finance team has advised on a £5m funding deal for construction, property, engineering and facilities management firm, Eric Wright.

The Eric Wright Group, whose turnover was £153 million as at the end of 2013, will use the funding from Santander Corporate & Commercial to support the acquisition of new landbanks for development, help expand its fast-growing residential property unit, and also help capitalise on opportunities in the public sector, including from the NHS.

Dean Gormley, Banking & Finance Partner at Irwin Mitchell, advised Santander Corporate & Commercial with Real Estate Associate Vanessa Rickard assisting on the property aspects of the deal.

Expert Opinion
We are delighted to have been involved in this deal. The Eric Wright Group is going from strength to strength and this funding deal will provide a further financial boost as it looks to capitalise on future growth opportunities.”
Dean Gormley, Partner

Matt Jones, Relationship Director, Real Estate Team, Santander Corporate & Commercial, said:

“We’re delighted to be able to support such a prestigious and well-run company which, in our view, is set for a period of strong growth. We have delivered a suitable funding package fine-tuned to the needs of the business and I’m wholly confident that the Eric Wright Group will continue to grow and be highly successful.”

Jeremy Hartley, Group Managing Director, Eric Wright Group Ltd, said:

“Having restricted capital expenditure through the economic downturn, we are now in a position to consider expanding and this new facility provides the group with the appropriate financial infrastructure on which to undertake such growth. Whilst our focus will remain the North West we will also look for suitable opportunities across the wider region if they arise.”