Business Bio

Devonshire Care Ltd, a care home operator of over 20 years standing in Yorkshire and Lincolnshire, required funding to acquire a care home near Manchester to expand its portfolio of homes. The business has successful experience in acquiring older style homes in period properties, that offer the potential for investment in the day-to-day running as well as further extension or redevelopment.  

Loan Amount

Undisclosed

Region

North West

Funding Need

Acquisition funding

Sector

Healthcare


Their Journey

As part of an ongoing growth plan, Devonshire Care used funding from ThinCats to augment its existing portfolio of four homes by acquiring a further home near Manchester. The home is a first generation, purpose-built property with the sale driven by the owners’ desire to retire.

The business was introduced to ThinCats by specialist healthcare finance brokers Chandler & Co. Devonshire Care director, Peter Hill, is very experienced in the care home sector, and has had a key role in successfully strengthening all the homes under the Devonshire Care umbrella. Funding was sought through the Coronavirus Business Interruption Loan Scheme (CBILS) to support the acquisition and refurbishment, along with the completion of an extension to an existing home. 

Peter Hill, Director, Devonshire Care: “We are very excited about the acquisition of our fifth home, adding further beds to our existing portfolio.  We have been very pleased with the way that ThinCats has dealt with our funding request and appreciate their expertise in this sector and the commitment of their team while dealing with the unprecedented situation presented by the coronavirus pandemic. The Devonshire Care group has been meticulous in ensuring that all measures have been taken to minimise risk to both residents and staff from Covid-19 during this difficult time."

Richard Henshaw, Director, National Development Healthcare, ThinCats: “After supporting our existing clients with CBILS loans, it’s great to be able to extend this support to new borrowers. I am delighted that we have been able to help Peter and his team at Devonshire Care with their growth plans during these challenging times.  We look forward to providing further support to Peter and the wider healthcare sector in the months and years ahead.”

We are very excited about the acquisition of our fifth home, adding further beds to our existing portfolio. We have been very pleased with the way that ThinCats has dealt with our funding request and appreciate their expertise in this sector and the commitment of their team while dealing with the unprecedented situation presented by the coronavirus pandemic.

Peter Hill, Director, Devonshire Care Ltd

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