Christie Finance, the specialist commercial finance broker, has successfully arranged a £12m funding package with Barclays Bank for its client, Lorimer Care Homes Ltd, assisting them in their acquisition of Gate Healthcare Ltd. The purchase consists of three care homes – Howard House in Kilmarnock, Westwood House in East Kilbride and Kintyre House in Invergordon, adding a further 135 registered beds to the expanding group.
The funding provided by Barclays Bank sees Lorimer’s existing RBS arrangements refinanced, with the new debt package consisting of term debt, working capital and development facilities.
Craig Dickson, Director at Christie Finance, commented: “With ‘whole of the market’ access, Christie Finance has dealt with over 20 different lenders over the past 12 months. We are delighted with the support of Barclays Bank on this particular transaction who have put together a truly competitive facility, meeting the needs of our client and allowing the group to expand to meet their long term objectives.”
Christie Finance, the specialist commercial finance broker, has successfully arranged a £12m funding package with Barclays Bank for its client, Lorimer Care Homes Ltd. Colin Rhodes, Director of Lorimer Care Homes Ltd who already owns Glenfairn House and Carrick House Care Home in Ayr, alongside Bridge View Care Home in Dundee, views the addition of Gate Healthcare Ltd as an ‘ideal’ fit. Both Lorimer Care Homes Ltd and Gate Healthcare Ltd have excellent reputations within the care sector.