ThinCats supports WRW Construction with multi-million pound funding solution
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 order book 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.”
Alison Whistance, director regional business development, ThinCats said:
“ThinCats are very proud to support WRW with its continued growth and this facility provides the funding required to deliver their strong pipeline into 2020 and beyond. This is a great example of what ThinCats does best, we worked closely with Gambit and the management team to provide a flexible solution that was bespoke for the business. It was a pleasure to work with all parties involved and we wish WRW continued success for the future”.
Alex Jenkins, finance director of WRW said:
“The Gambit 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.”
