Established in 2017, Churchlake Care operates residential & nursing homes across the West of England. The company began with two care homes in Bury, Manchester, inspired by founder Alan Jebson’s own grandmother’s experience living in residential care during her final years; the owners wanted to make a statement in healthcare that represented true and lasting values. In 2018 the team acquired three further homes in Somerset, and a nursing and dementia care home in Bodmin. Across the facilities they offer nursing, residential, respite and dementia care.
ThinCats have facilitated a £4m loan to Surrey based Churchlake Care to acquire three care homes, adding to their existing portfolio.
The experienced team is headed up by Alan Jebson and Chairman, Fred Sinclair-Brown, who are working towards a 5-year goal to acquire a portfolio of care homes providing 3000 beds. They acquire homes to build into regional clusters, enabling beneficial logistical and staffing synergies, with the aim of creating an exceptional care home experience as well as value for residents.
The most recent step towards their goal involved the acquisition of three elderly care homes in Cumbria: Holmwood, Hames and Chichester, forming part of their North West England cluster. The senior management team at Churchlake approached ThinCats to discuss funding for these and future acquisitions; they were looking for a long-term relationship to enable future growth.
Richard Henshaw, Director National Development Healthcare at ThinCats: “I am delighted to have the opportunity to support the growth of Churchlake Care Group and we are very pleased that we were able to turn this around quickly and complete, despite unprecedented market conditions. We remain keen to support both this sector and Alan, Fred and team with their further growth ambitions.”
Law firm Wright Hassall provided legal support for the deal.
We were searching for a lender that we could work with long-term; we have targeted plans to increase our care home provision over the next few years, and continue to deliver quality care to all our residents. ThinCats moved quickly to understand our business and offered a good funding structure with flexibility. We were very impressed with their in-house team and resources, and the speed in which they managed to turn around our funding application.