Established care home operator secures funding to acquire third setting
Commercial finance specialist, Christie Finance, has supported established operator, Rhencullen Care Group Ltd, in the refinancing of existing debt and the acquisition of complete ownership of its third care home.
Rhencullen Care Group Ltd currently operates two care homes, Kevlin House and Tamar House, located in the North Norfolk District, just a 19-minute drive from one another.
Both homes are registered to care for the elderly and those in need of dementia care. Kevlin House has capacity for 15 residents and has earnt a CQC ‘Outstanding’ rating, whilst Tamar House has capacity for 21 residents and is in development to reach the group’s targeted ‘Outstanding’ CQC rating.
The care group has four directors, Mandy Croshaw, Sarah Suttle, Leah Cowley and Janis Pokulis, all highly experienced professionals in the industry. Mandy is the majority shareholder of the group and brings over 24 years’ experience working at senior management level within the care industry.
The group has now secured the remaining ownership of its freehold acquisition, Belvoir House - a home registered for 39 residents that joined RCGL’s portfolio in 2018. This acquisition supports RCGL’s long-term expansion plans. The directors will continue to be hands on and ensure residents continue to receive outstanding levels of care.
Lawrence Roberts, Finance Consultant at Christie Finance, who helped to secure funding for the group, comments, “Supporting Mandy and her team at the Rhencullen Group was a pleasure and I am really excited to hear of their future successes.
“This is another example of how our specialist team at Christie Finance can support clients who are looking for care home funding in such a competitive market that have been adversely affected in recent years. It has been challenging for many people, sectors and businesses, however our team can make sure everything fits into place for your needs.”
For more information on this deal, please contact:
Charlie Kerrison Stock, Junior Marketing Executive – Christie Finance
P: 07791 979 480 or E: charlie.kerrisonstock@christie.com
Contact the agent:
Lawrence Roberts, Finance Consultant – Christie Finance
P: 07702 809 566 or E: lawrence.roberts@christiefinance.com
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