Eric Wright Group secures £30m NatWest funding to drive regional development

Eric Wright Group has secured a £30m funding package with its long-term banking partner, NatWest.

The Revolving Credit Facility will provide essential working capital to support the group's wide-ranging development projects.

With roots tracing back to 1923, the Preston-based group has grown into a regionally significant operator with over 1,000 employees and a turnover of almost £300m.

Its eight divisions work collaboratively across sectors including residential and commercial property, highways and public realm, healthcare, education and water management.

The £30m facility will be instrumental in supporting the cash flow for the group’s ongoing investment and development activities.

A key area of focus is the development of high-quality care homes under its Wrightcare brand, which recently opened its first care home, Castlewood in Clitheroe.

The second care home is currently under construction in Grimsargh, Preston.

To facilitate the deal, NatWest were provided legal and valuation advice from Addleshaw Goddard and Cushman & Wakefield, with Hill Dickinson providing legal advice to Eric Wright Group.

Gill Chadwick, group chief financial officer at Eric Wright Group, said: “Our commercial success goes hand in hand with creating meaningful benefits for the communities we serve.

"This £30m facility from NatWest is vital for empowering our future projects, including constructing essential care facilities.

“The continued support from NatWest, a trusted partner for over 40 years, reflects their confidence in our vision of building a better, more sustainable future.”

Andy Clarke, director of Corporate Real Estate Finance at NatWest, added: “Our continued partnership with Eric Wright Group is a testament to our commitment to supporting businesses with strong community foundations.

"Their unique ‘profit for purpose’ model is an exemplary way of aligning commercial success with social value, a collaboration that resonates with our own core principles.

“This funding package is designed to provide the flexibility they need to achieve planned strategic investment and development.

"We are confident this funding will underpin their continued growth and further enhance their positive contribution to the North West.”

As Britain’s biggest bank for business, NatWest supports businesses across the country in achieving their growth goals.

With a history stretching back nearly 300 years, NatWest now serves over 19 million customers, with businesses rooted in communities across every nation and region of the UK across retail, commercial and private banking markets.

The Eric Wright Group are a long-established property and construction business comprising eight specialist divisions (Construction, Civil Engineering, Water, Partnerships, Facilities Management, Maple Grove Developments and Investments, Applethwaite Homes, and Wrightcare).

Founded in 1923, as Brown and Jackson in Fleetwood, Lancashire, the company became Eric Wright Construction in 1979 after Mr Wright purchased it and later became the Eric Wright Group.

Owned by the Eric Wright Charitable Trust, all profits are reinvested in the Group's growth or directed towards charitable activities, operating as a social enterprise that continuously gives back while striving for a more sustainable future.