Care home provider expands following £3.1m funding deal

A care home provider has snapped up a new facility, backed by Ashby alternative lender ThinCats.

Devonshire Care says it is pursuing a growth plan to acquire older style homes in period properties offering the potential for investment in the day-to-day running as well as further extension or redevelopment.

The £3.1m funding package from ThinCats has helped with the acquisition of Abbey Village care home in Brigg, North Lincolnshire, the refinance of an existing home, Bank Close House in Chesterfield and extensions to both homes, adding seven bedrooms at Abbey Village and 16 bedrooms at Bank Close House.

Peter Hill, director, Devonshire Care, said: “This funding has enabled us to pursue our aims of building up our portfolio with homes that have huge potential to offer quality residential care in beautiful surroundings. The team at ThinCats have proven their dedication to supporting the healthcare sector, and we look forward to putting the funding to good use.”

Richard Henshaw, director, national development healthcare, ThinCats, added: “It is gratifying to be able to provide further funding to Peter and Devonshire Care. We are very happy to have been able to continue to back their experienced and ambitious management team, and to demonstrate our commitment to further supporting existing customers, and the healthcare sector.”