A Chesterfield care home company has borrowed £26m from Barclays in Sheffield - the largest funding deal the bank has agreed with any care operator in the North of England this year.
Hill Care Group, which has 19 homes in the North, now plans to buy and build new facilities.
Established in 2001 and headquartered at St Mary’s Gate, Chesterfield, the business looks after more than 1,000 residents. It operates homes in Chesterfield, Barnsley, Sheffield and Bakewell and further afield in towns including Widnes, Nottingham and Hartlepool.
Wendy Waddicor, managing director, said: “We are very excited to be expanding our brand of care.
“Our priority is improving the quality of life for those who choose to reside with us, maintaining their privacy, dignity and ability to manage their own lives. Through new builds and acquisitions, we will be able to support more families with the care of their loved ones.
“Barclays shares our enthusiasm, aspirations and appetite for growth and we are delighted to strengthen our relationship with the bank. The new funding and consolidation of our finances under one umbrella will enable us to realise our ambitions.”
John Anderson, Barclays relationship director, said the deal demonstrated the bank’s understanding of the sector and commitment to healthcare businesses.
He added: “Having a focused industry specialism enables us to understand the current social and economic headwinds experienced by operators.”
hlw Keeble Hawson advised on agreements and investigated the title to the properties owned by the Hill Care Group.
Nick Goulding, corporate partner, said: “This was an important transaction for the Hill Care Group and enables them to push on with their plans for further growth and success.
“It was a complex matter due to the number of care homes and parties involved and needed to be completed within a tight timescale.
“Everyone worked very hard and with a good sense of collaboration in order to deliver the project on time.”