July 31, 2019 Finance

Shawbrook Bank provides £12.5m commercial loan facility to newly established healthcare provider to support acquisition of six homes

Shawbrook Bank has provided a UK healthcare provider with £12.5 million of funding to support their latest acquisition of a group of 6 care homes, predominantly in Scotland and Iin the South East of England and one in Scotland. The facility supports the management team’s strategic strategy as they look to develop the business through organic growth and acquisition of top qualitytop-quality homes with good regulatory results.

The healthcare provider entered the market only last year, with a primary focus on Dementia care. Following their recent care home acquisitions, the management team strive to deliver exceptional standards of care to their residents as they look to renovate the properties and maintain the ‘Good’ Care Quality Commission Standard currently achieved by the homes.

Recognising the potential of the business and the focus it has on patient outcomes, the specialist Healthcare team at Shawbrook worked closely with the management team at the company and advisors, BBS Capital, to structure a facility that delivered the necessary quantum in the short timeframe required.

Chris Christodoulou, Senior Healthcare Director at Shawbrook Bank says:
“We took our time to understand the company’s strategy and looked to structure a deal that would help with their long-term goals and ambitions. These 6 homes already deliver a good quality service to hundreds of residents and, with our client’s enthusiasm and management team, I have no doubts that they will extend it to many more.”

Dasos Kirtsides, Head of Healthcare at Shawbrook Bank, says:
“Service user outcomes is always something we are heavily focused on so helping operators to acquire homes that will improve hundreds of lives with an appropriate funding facility is why we are extending larger commercial loans in the sector.
This first transaction was a great opportunity for us to show how we can take an entrepreneurial look at opportunities and propose a suitable structure that works for the operator in question. As a specialist lender with experienced people, an engaged leadership team and short reporting lines, we were able to put the deal together in a short space of time. We are proud to have partnered with BBS Capital and the management team and look forward to building a close relationship long into the future.”

Joanne Barnett, BBS Capital LLP, says:
“We were delighted to introduce our clients to the new team at Shawbrook. We have known Dasos for many years and his experienced team quickly understood the complexities of the transaction which enabled us to secure the required funding for our clients to purchase the portfolio.”

Pictured above Relationship Director Chris Christodoulou

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