Accrington-based healthcare provider National Care Group (NCG) has completed a refinance deal with Allied Irish Bank (GB)* for an undisclosed sum. The funding package has been structured to support NCG’s continued growth strategy through both organic expansion and targeted acquisitions as the company looks to expand its geographical presence across the UK.
NCG is an established provider of care and support services to vulnerable adults throughout the UK offering high quality, person centred care through supported living, residential care, outreach and home support and day services.
Established in March 2016, NCG work closely with clients, family members, local authorities and healthcare professionals. The team specialise in supporting adults who may experience learning disabilities, mental health needs, challenging behaviour, autistic spectrum conditions, neuro-disabilities, acquired brain injuries, physical disabilities and other associated complex health needs.
Since its inception NCG has enjoyed significant growth and completed four acquisitions to date all supported by Allied Irish Bank (GB). Today NCG supports over 1,200 people in over 230 locations across the UK and with Allied Irish Bank (GB)’s continued support are well placed to target future acquisitions and growth.
David Rowe-Bewick, Group Finance Director at NCG said: “The refinance package provided by Simon King and the team at Allied Irish Bank (GB) provides a strong platform from which we can confidently drive growth in new and existing locations. The team really understand our business, and their facilities and pragmatic approach fits very well with NCG. As we move forward into 2019, we have a target to achieve 200 additional beds and the refinance facility will help support our growth aspirations.”
Simon King, Senior Relationship Manager at Allied Irish Bank (GB), said: “NCG have enjoyed fast growth since its establishment and we are delighted to remain as the sole debt funder to the business. They have built up an excellent reputation for delivering care in the supported living sector and have a highly specialist and experienced team. We look forward to continuing our support of NCG and helping them to achieve their target of growing their number of beds and extend their facilities and services into new areas across the UK.”
*The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trademarks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland. Registered Office: 92 Ann Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.