Staffordshire firm lands major funding to expand care for vulnerable kids
First Blue HoldCo (“First Blue”), a provider of residential care and support for vulnerable children, has secured an eight-figure refinancing package provided by Shawbrook Bank’s Healthcare Team.
The financing will help the company expand its services and provide further support to children with special educational needs.
Headquartered in Staffordshire, First Blue offers residential care for children aged 8 to 16 across ten properties in Staffordshire and the Midlands.
The new structured funding package refinanced First Blue’s previous lender, Thincats, and provides additional capital for purchasing further properties as part of the company’s growth strategy.
Yorkshire-based Castle Square Corporate Finance advised First Blue on the refinancing package.
Chris Smith, founder of First Blue said: “It’s pleasing to see completion of the group refinancing with the support of the team at Castle Square. We look forward to working with Shawbrook as our new funding partners.”
Brad Green and Josh Stokes from Castle Square Corporate Finance acted as advisors on the transaction.
Green said: “This is another great result for the team at First Blue, enabling them to move into their next phase of growth. Shawbrook will undoubtedly become valuable partners as First Blue continues its mission to provide high-quality residential care services to vulnerable children across the UK.”
Legal services for First Blue were provided by Midlands-based law firm, George Green LLP, with Kam Johal and Heather Smith leading the legal team.
Johal said: “We were delighted to support First Blue as its legal adviser in this significant funding round and are excited to see the Group’s continued growth as an invaluable provider of residential care services to young people in the UK.”
In addition to Castle Square and George Green LLP, other key advisers on the transaction included Hazlewoods LLP, which conducted financial due diligence for Shawbrook, and Fieldfisher LLP, which provided legal advice to Shawbrook.
