Acquisition completed and six-figure funding received by childcare provider

First Blue Healthcare & Education have completed its acquisition of Nurture Childcare Services and received six-figure growth capital fundraising from Thincats.

Headquartered in Staffordshire, First Blue provides residential care and support to vulnerable children aged between eight and 16 with special educational needs. Within five years of opening, the firm has opened six residential properties all across Staffordshire and the Midlands.

Advised by Yorkshire-based Castle Square Corporate Finance, the firm has now acquired Nurture’s 16-bed facility based in the Northwest, which takes the total number of available beds within the First Blue portfolio up to 34 children across 13 properties.

The structured funding package provided by Thincats has provided additional capital to fund the purchase of a further five properties from which the First Blue services will be provided at.

The additional properties are expected to be renovated and registered by early 2023 and will increase the number of individuals that First Blue can support to 50 individuals.

First Blue will also open its first school which will be dedicated to providing children, those who are not suited to mainstream school, an alternative environment designed to meet a wider range of educational needs.

First Blue’s CEO Chris Smith said, “It is fantastic to have secured the fundraising from Thincats that will allow us to continue our development whilst providing the highest level of support to more and more vulnerable children in society.

“The plan for the next few years is to continue developing the services provided by First Blue Healthcare and this fundraising allows us to accelerate these plans.”

Led by Director Patrick Lynch, Yorkshire-based dealmakers Castle Square Corporate Finance led deal negotiations on the two acquisitions and ran a competitive fundraising process. After receiving multiple funding offers, Thincats emerged as the preferred funder.

Patrick Lynch said: “The new partnership with Thincats, will allow the Management Team to further deliver substantial growth over the next few years and help First Blue to become a first-class national care provider to vulnerable children across the UK”.