HURST Corporate Finance advises care home provider on latest deal to grow its portfolio
HURST Corporate Finance has advised care home provider CareConcepts on its latest acquisition.
CareConcepts has expanded its portfolio with the acquisition of Marion Lauder House, a purpose-built care home in Wythenshawe, Manchester.
The deal was completed with the support of Shawbrook, which provided £4.26m of debt finance.
Marion Lauder House provides care for up to 79 people. It currently provides nursing, residential and respite and assessment care for people living with dementia. It also operates a day centre service which offers care, socialisation and activities for people living with dementia across the region.
It is the third acquisition for CareConcepts to be completed with support from Shawbrook.
Ben said: “It’s been a pleasure working with CareConcepts on their third acquisition in two years. Shawbrook’s ability to create a bespoke funding package made them an obvious partner to support the buy and build growth strategy of the group.”
“I look forward to working with them on future acquisition opportunities and seeing the group go from strength to strength.”
CareConcepts was set up by a team who have operated care homes since 2009. It delivers support and care to older people across Manchester, Stoke and Warrington with a focus on consistently improving their experience for all stakeholders, through enhancing the facilities it operates.
Since the Shawbrook-backed acquisitions of Trewan House and Goldendale care homes in June 2021, CareConcepts has invested in facilities and service across both sites, delivering significant improvements for the residents under its care. This strategy is to be replicated at Marion Lauder House following the acquisition.
Carl Scarlett, who owns CareConcepts alongside Lee Stringfellow and Lynne Scarlett, said: “It was vital that in the first year of the deal we would still have capital readily available in which to make further enhancements to the homes in our portfolio, and in particular to Marion Lauder House.
“We have big plans to upgrade the home and working with Shawbrook allows us to begin these improvements right away. Having worked with Shawbrook previously, we knew they were the perfect partner for this deal. The team listened to our needs and created a bespoke deal to support our plans.”
Peter Cuffy, relationship director at Shawbrook, said: “Care homes provide a valuable and necessary service to our community, and it is fantastic to work with a business with the values that CareConcepts has and who wants to provide the best possible care for its residents and their loved ones.
“The team at CareConcepts have a proven track record when it comes to investing and improving the care homes in their portfolio.
“The success of the previous properties Trewan House and Goldendale care home was clear evidence of the team’s ambition and ability, and we were thrilled to support on this third acquisition.”