AIB (GB) helps care group expand portfolio

Carol Noonan (AIB) and Paul Nery (Rose Care Group)

The owner of an independent group of residential care homes has made four new acquisitions in a refinance and funding deal backed by Allied Irish Bank (GB) in Nottingham.

Paul Nery started the Rose Care Group in 2012, and by 2015 owned three care homes in the South West.

Now, with help from AIB (GB), the group has purchased Wolborough Court and St Benets Court in Newton Abbot, Greycliffe Manor in Torquay and Bishopsteignton House in Teignmouth.

All of the homes are rated “Good” by the Care Quality Commission.

Nery said: “What really drives me is the desire to treat our residents as we would want our own mothers or fathers to be treated. Creating a home-from-home and a genuine family feel for our residents is absolutely essential, as is looking after our staff so that they’re happy in their work.

“It’s been great to work with Allied Irish Bank (GB). They are very efficient and employ a commercial approach to lending combined with keeping their clients’ interests firmly in mind. This was evident during the acquisition process and the team worked closely with me throughout to get the deal done.”

Carol Noonan, relationship manager at Allied Irish Bank (GB) in Nottingham, added: “Paul and his team have built a high quality group of care homes which will be enhanced by these four acquisitions. His approach is to uphold the highest standards in a highly regulated sector, invest in his properties and support his registered managers and staff. We’re pleased to be able to back this latest stage of Paul’s growth aspirations and look forward to building on our relationship in the years ahead.”

Naomi Tudor of Shakespeare Martineau provided legal advice to Allied Irish Bank (GB).