Fletchers set for next stage of growth after Pemberton agrees refinancing package

Fletchers Group has secured a new refinancing deal with Pemberton, positioning the company for its next growth phase. Chief Financial Officer Alex Lynch stated that this agreement will support Fletchers in achieving its medium-term goal of £150 million in revenue with a team of 1,500 colleagues. This deal consolidates all current debts under one group facility and provides an acquisition fund to fuel Fletchers' inorganic growth strategy.

Pemberton, a leading European asset manager specialising in private debt, backed by Legal & General, is providing a long-term loan to settle Fletchers' existing bank, vendor, and acquisition loans. Additionally, RBS, Fletchers’ long-time banking partner, will offer a revolving credit facility to support ongoing investment in their work-in-progress (WIP) book.

Alex Lynch highlighted that this new financial arrangement signifies confidence in Fletchers Group's track record, strategy, people, and culture. Since Sun European affiliates invested in Fletchers in October 2021, the company has expanded significantly, growing from 450 employees and £34 million in revenue to a projected 1,000 employees and £100 million in revenue by the end of this financial year.

Cassandra Fahy, Managing Director – Origination at Pemberton, expressed delight in supporting Fletchers' ambitious plans. She noted Fletchers' impressive growth amid regulatory and market changes and their strong position in a market where technology and scale are crucial.

Fletchers Group was advised on the transaction by Rothschild, PWC, EY, and Addleshaw Goddard. Established in 1987, Fletchers Group is a leading UK firm in serious injury and medical negligence law, employing over 900 people across offices in Manchester, Liverpool, Leeds, and Southport. The company's mission is to help individuals rebuild their lives after serious injuries, supported by their case work and charitable efforts.