Cardiff – CFI UK is pleased to announce that they has acted as lead financial advisor to WRW Construction (“WRW”), securing a multi-million pound funding solution from alternative lender ThinCats.
WRW is a family-owned, national construction company with offices in Llanelli, Cardiff and Bristol. The company has a track record of delivering award winning projects throughout Wales and the West of England, with over 700 projects completed in the last 33 years. The company delivers new build construction, restoration, renovation and refurbishment projects to clients across commercial, residential, leisure and education sectors.
Impressive growth has been achieved in recent years with the business delivering a turnover in excess of £60 million in 2018. Significant further growth is expected and underpinned by a strong secured pipeline of over £120m.
The transaction provides WRW with a flexible, multi-million pound facility for working/growth capital purposes.
Jon Williams, Managing Director of WRW said, “We are on track to break revenues of £70m this year with an enviable orderbook of over £120m under contract. Despite the well documented challenges the industry and indeed the wider economy is facing, we were delighted to have been able to pick from a range of finance offers to take us forward.”
“By choosing ThinCats as our long-term finance partner, it will further strengthen our position as one of the leading Main Contractors in Wales and the South West of England over the coming years.”
“Jason and the team provided first class advice and support, taking time to understand our business and requirements, before tapping into their extensive finance network, to identify a range of the most appropriate funding partners. This was key as we operate in a sector that currently, high street banks often struggle with. CFI UK’s guidance helped us to navigate through the process, ultimately securing an outcome above our expectations in terms of amount of facilities, structure and terms, giving us the resources to drive forward with our ambitious strategic plans. I would have no hesitation in recommending CFI UK.”
Alex Jenkins, Finance Director of WRW said, “The CFI UK and ThinCats teams were excellent throughout in cutting through the noise of such a significant and often complex strategic decision to advise and develop the best finance proposition for WRW to meet its business plan. It’s great to reach such a noteworthy milestone as we look to improve our offer to both our clients and supply chain.”
The transaction closed on 12 March 2019.
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