Major buildings firm secures seven-figure funding from HSBC

Wernick Hire, a major provider of portable and modular buildings based in Essex, has secured a seven-figure funding package from HSBC UK to expand its operations to meet growing demand.

The Sustainability Improvement Loan will enable the company to purchase 465 new cabins, along with a selection of modular buildings, typically used for temporary offices, classrooms and site accommodation.

This will strengthen Wernick Hire’s UK-wide capacity and fuel its continued growth.

The funding also enabled the company to achieve its projected turnover of £250 million by the end of 2025.

In addition, the HSBC UK funding will support Wernick Hire’s goal to become net zero by 2040 through enabling fleet upgrades.

Recent additions include Green Space cabins, energy-efficient units offering water and energy saving features for low carbon sites, reinforcing the company’s ongoing commitment to providing sustainable products for its customers.

 The funding was made possible through HSBC UK’s partnership with EcoVadis, a sustainability ratings company, which enables mid-market businesses like Wernick Hire to link the cost of their financing directly to their sustainability performance.

Chris Betz, senior relationship director at HSBC UK, said: “We’re proud to support Wernick Hire at such a pivotal stage in its growth journey.

“Our partnership with EcoVadis is a powerful example of how HSBC UK can support mid-market businesses to lead the way in responsible growth.” 

Founded in 1934 by Samuel Wernick, the family-owned Wernick Group began as a poultry crate manufacturer.

Over the decades, it has grown into a nationwide operation, now comprising six businesses - Wernick Buildings, Wernick Refurbished Buildings, Wernick Events, Wernick AV Danzer, Wernick Power Solutions, and Wernick Hire.

Headquartered in Wickford, Essex, the group operates 45 centres across 39 locations throughout the UK.

Wernick Hire, one of the group’s core businesses, currently manages a fleet of 24,000 buildings and plays a key role in delivering modular and portable accommodation solutions.