Safehands plots expansion with bank finance
SAFEHANDS, the Lancashire group which runs nurseries and delivers domiciliary care services, has secured a £1.6m package for the Yorkshire Bank to fund further expansion.
The Blackpool-based business was bought by the former Spice Group chairman two years ago.
The money will be used to open more extra care facilities, after recently launching its first in Warton, and to grow the nursery chain.
In December it acquired the Little Craft nursery group from administration which secured 60 jobs and gave it a total of 13 nurseries.
Managing director Paul Manning said: “We’re very excited about the launch of Safehands Extra Care. As renowned champions of dignity, our service offers individuals the opportunity to experience comfortable and accessible supported living, in the knowledge that care is always on hand.
“With Yorkshire Bank’s support, we aim to expand the service across Lancashire and create new jobs. We’re always open to investment, whether through offering new services or acquiring other businesses and replicating our high standards of care.”
Derek Breingan, Yorkshire Bank’s head of healthcare, said: “Through a combination of innovation, high standards, and acquisition, Safehands Corporation has grown to become one of the UK’s most established care groups, providing quality services to all sectors of society from young babies to senior citizens.”
Safehands has more than 350 full and part-time staff and a turnover of around £6.5m. The deal was arranged by Andy Nurse, relationship manager at Yorkshire Bank in Preston.
Simon Rigby netted a £22m windfall when the utility services group Spice was sold to private equity investors Cinven in a £251m deal in 2010. He is also founder and director of Farmgen – the company which generates electricity via anaerobic digestion from farm waste.
