Wed, 10 Aug 2022 | BUSINESS SALE
Churchlake Care, a national provider of residential and nursing homes, is continuing its acquisitive expansion after securing a £16 million funding package. The new funding has been received from alternative lender ThinCats, which initially backed the group in 2020.
In 2020, ThinCats provided Churchlake with £4 million in funding, which enabled the group to acquire six homes in the North West and South East of England. With the latest funding package, the group has acquired two North East-based firms, Crystal Care and Exclusive Care, delivering six purpose-built homes.
Headed by chief executive Alan Jebson and chairman Fred Sinclair-Brown, Churchlake Care was established in 2017 and operates homes across the UK. The company’s acquisitive growth plan sees it strategically target UK residential and care homes, which it then builds into regional clusters.
Churchlake CEO Alan Jebson commented: "ThinCats has been extremely supportive of our business since the initial funding in 2020 and continue to back our growth ambitions. With this latest funding, they have delivered again. Richard and Mark are experts in the sector and demonstrated their deep understanding of our business. We look forward to continue working with them."
Richard Henshaw, Director of ThinCats, added: "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 facilitate these latest acquisitions despite unprecedented market conditions."
The company’s latest funding comes at a time of consolidation in the UK’s fragmented residential and nursing home market in the wake of the significant upheaval caused to the sector during the COVID-19 pandemic.
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