The Phoenix Learning and Care Group has agreed a £4.5m refinance facility with the Royal Bank of Scotland to support the future growth of the business as it looks to roll out new sites across the region.
Established in 2006, Phoenix Learning and Care Group is headquartered in Barnstaple and is a well-respected provider of social and educational needs facilities including primary and secondary schools, further education colleges and related care homes for children and young adults. A funding package has been structured by the Corporate Transactions team at the Royal Bank of Scotland which includes refinancing an existing loan, working capital and growth capital finance, which will support Phoenix Learning and Care Group’s future growth strategy to expand their footprint of schools, colleges and care facilities across the South West.
Following a Management Buyout in 2012 by investment firm Ashridge Capital, the management team of Jonathan Pain, CEO, François Delbaere, CFO and Keith Burley (Founder and Strategic Director) have impressively grown the business with the support of Chairman Michael Buckingham, Ashridge Capital and its CEO, David Sherratt. Phoenix Learning and Care Group currently operates two schools for day and residential students with a total of 18 places, two further education colleges for day and residential students aged 16-25 with a total of 60 places, 15 care homes with a total of 38 places and eight continuing care homes for adults with learning disabilities.
Jonathan Pain, CEO, Phoenix Learning and Care Group said: “Phoenix Learning and Care Group has established an excellent reputation across the South West and we remain committed to strengthening and enhancing the services we provide across schools, colleges and specialist learning environments. The funding provided by the Royal Bank of Scotland will help with our plans to increase our presence across the South West as we look to strategically roll out a number of new sites to meet geographical and commissioning demands, maximise capacity at our existing sites and offer additional services such as more acute therapeutic services, crisis support and other specialist care.”
Stefan Gunn, Leon Musmann and John Palmer from the Corporate Transactions team at the Royal Bank of Scotland worked together with Martin Wright, Relationship Director, to structure the appropriate funding package to support Phoenix Learning and Care Group’s growth strategy.
Stefan Gunn, Director, Corporate Transactions team at the Royal Bank of Scotland said: “Phoenix Learning and Care Group have a well-rounded and experienced management team who, with the support of Ashridge Capital, have enjoyed robust growth and established a strong market position locally. They offer an exceptional level of education and care for individuals who can’t currently be catered for in mainstream education. We are delighted to support the next stage of the company’s growth, as the team looks to open new sites and roll out enhanced facilities at their existing