Specialist SME lender, Shawbrook Bank, has announced it has successfully provided a £5.2m funding package to enable an ambitious care home group to expand its operations.
Constantia Healthcare Group Ltd, which owns two successful facilities – Longlands Care Home and Roseleigh Care Home in Middlesbrough – has added a third to its portfolio.
The acquisition of Queens Lodge Care Home in Blackburn, Lancashire, will see the Group significantly expand its operations and care facilities.
Queens Lodge is a purpose-built, family run facility registered for 40 residents and was designed and built in the early 1990s, offering 28 en-suite single rooms and six en-suite double rooms.
As well as the Queens Lodge acquisition, funding provided by Shawbrook will also re-finance an existing bridging facility and secure the purchase of the freehold at its Longlands site.
Claire Perman, Shawbrook’s Associate Director for its Healthcare Finance Division, said:
“Constantia are an ambitious care group with a vast amount of experience in the sector built up over a quarter of a century. As a small, family owned care provider, Constantia values its residents and employees and understands the intricacies involved in providing quality, tailored care services for each individual resident through its ‘person centred carer’ principles – principles which are clearly evident in its management and across its existing facilities.
The residents of Queens Lodge have experienced the highest levels of care and compassion over the years under the stewardship of the previous owners. Having worked closely with Constantia’s management on their acquisition, the residents of Queens Lodge are in the safest of hands and can expect continued high-quality care delivered in a homely and professional environment.”
Shawbrook is also equally as proud to further support the care industry in general in what is a challenging climate. The impact of coronavirus across the healthcare landscape is clear for all to see, and it is impossible to ignore the work that all care home staff are doing across the UK to protect and care for their residents.
Anthony Massouras, Managing Director at Constantia Healthcare Group Ltd and an experienced operator in the care sector, said:
“Shawbrook Bank’s reputation within the specialist healthcare space precedes itself. We approached them to provide both finance and elements of guidance and they delivered an entrepreneurial approach to Constantia including crucial advice on how we structured the overall debt facility. Shawbrook Bank’s specialist healthcare team, alongside Christie and Co and Knight Frank, pulled out all the stops to ensure this deal was completed successfully and I am grateful to them all for their efforts.”