Leicestershire lender provides £7.6m backing for care home firm
ThinCats, the Leicestershire alternative lender has provided Luxury Care Group, which runs high-end care homes across Poole and Bournemouth, with a £7.6m refinance and growth funding package.
Luxurycare was established more than 18 years ago by Kevin Gunputh. The founder and CEO, has grown the group from two homes to the five. The facilities provide 290 beds, all based in Poole and Bournemouth offering services including residential, dementia and nursing, plus specialist services. One of the homes Branksome Park, operates a specialist neurological unit for over 18s with a life limiting condition.
The business was introduced to ThinCats by Steve Chester at Axis Commercial, an advisor in the space with a long-term relationship with both the client and Richard Henshaw, director national development hHealthcare at ThinCats. Legal advice for Luxurycare was provided by Neil Cook at Ellis Jones Solicitors and ThinCats were supported by Paddy Sturman at Irwin Mitchell.
Kevin Gunputh, CEO, Luxury Care Group, said: “We believe in providing holistic care that matches the needs of our clients and operate our homes to the highest standards. Having worked with Steve at Axis for several years, we wanted a funder that also understood our needs and ThinCats have lived up to that expectation The funding comes at an important time for the group as we look to grow out of a challenging period for the sector.
Steve Chester, owner, Axis Commercial Finance, added: “Our long-term partnership with Kevin ensured we were able to match his specific funding requirements with a suitable lender very quickly. The fact that a funding package was agreed expeditiously and processed in a timely manner is testament to the ability and professionalism of Richard and his team at Thincats.”
Richard Henshaw, director national development healthcare, ThinCats said: “Kevin and the team at Luxurycare are vastly experienced and operate some of the best care homes in the UK. We are very pleased to be continuing to provide support to the healthcare sector, and look forward to seeing their continued growth.”
