Bank provides eight-figure support package to Merseyside specialist care provider
Barclays Bank has awarded an eight-figure support package to Merseyside specialist care provider Potens to back it expansion plans.
The deal involves the refinance of existing term debt alongside additional funding to help finance the group’s acquisition strategy.
Established in 1989, Birkenhead-based Potens provides specialist support to service users across the UK.
Potens began operating from one residential property in Liverpool and now operate across 90+ sites in the UK providing specialist support to more than 800 service users.
Joe Reid, Barclays business development director, and Lucy Probert, Barclays relationship director put together funding for the deal.
John Farragher, executive chairman and founder of Potens said: “Throughout our initial discussions with Joe and his team, we were very impressed by their sector knowledge and insight.
“As things progressed, we became increasingly aware of their enthusiasm and positivity, leading eventually to a successful conclusion.”
Potens employs more than 1,450 people across the UK and has continued to grow turnover and profitability with further growth expected in the current financial year.
Joe Reid, Barclays business development director, said: “Potens provide valuable support to thousands of people across the UK and from our first meeting with the experienced management team we have been impressed with their passion to provide the highest levels of care combined with excellent market knowledge and a clear well defined growth strategy.”