Nucleus powering Hinkley Point
Nucleus first started talking to their client, a key supplier to the Hinkley Point project, last year. They were introduced to the business through their adviser – a top four UK accounting firm.
This funding facility has been 11 months in the making. As decisions around Hinkley Point have fluctuated, they have been behind the scenes, working with our client through the uncertainty to make it happen.
With the long-term nature of the contracts related to Hinkley Point, the traditional lenders and high street banks were not willing to support the business. Nucleus were able to understand exactly what was needed, as they specialise in contractual debt and have in house quantity surveyors and experts to advise us and our customer.
Chirag Shah, CEO, Nucleus Commercial Finance, said:
“At Nucleus, we always listen to what our customers need and every time we fund a business it is a tailor made solution, unique to their requirements. We don’t use a one size fits all check list, it’s about taking the time to listen and work together to find solutions.
We saw a lot of potential in this business and believe that with their Hinkley Point contract they will succeed and grow rapidly. Ultimately, we agreed a total funding line of £3.8m, £1.8m in property finance combined with up to £2m of invoice finance. We’re delighted to be working together.”