Wilson Partners Corporate Finance has provided financial due diligence to OakNorth Bank on the bespoke £20 million debt finance package for LV Care Group – the leading care home provider in Jersey.
The group will use the funding to acquire two new sites in Jersey and on the Isle of Man, as well as refinance three existing care homes.
Nick Bettany, CEO & co-founder of LV Care Group, commented: “Jersey and the Isle of Man have an ageing population, with those aged 65 and over set to almost double in the next 20 years. A substantial minority of this age group will need some form of residential care which can only be provided in a care home or hospital, emphasising the importance of our offering, which benefits heavily from our local knowledge of the regions.”
Stuart Blair, debt finance director at OakNorth Bank, said: “Nick and Chris have built an impressive business with a stellar reputation. They bring a premium approach to care just as we aim to do with lending, with both parties understanding that there’s no such thing as a one size fits all approach.”
Helena Deacon, senior manager at Wilson Partners, said: “LV Care Group operate best in class facilities, led by a passionate and driven management team. We enjoyed working with all parties to ensure the success of this project. We wish them all the best with their continued expansion.”