Care provider makes four recent acquisitions in refinance and funding deal by Allied Irish Bank

Carol Noonan, relationship manager, Allied Irish Bank (GB), Nottingham with Paul Nery, managing director, Rose Care Group.

The owner of an independent group of residential care homes has made four recent acquisitions in a refinance and funding deal backed by Allied Irish Bank (GB) in Nottingham.

Paul Nery started the Rose Care Group in 2012, growing to three care homes in the South West by 2015: Alphington Lodge, Exeter; Beechcroft Residential Home near Bath and The Homestead, Exmouth. The four recent acquisitions to the group are the 24-room Wolborough Court and 30-room St Benets Court in Newton Abbot, 25-room Greycliffe Manor in Torquay and the 26-room Bishopsteignton House in Teignmouth. All of the homes provide residents with a supportive environment in which they can maintain their independence and dignity while enjoying the highest quality of life.  All are rated as ‘Good’ by the Care Quality Commission.


A former strategy consultant, Mr Nery left his career to look after his father in his old age. His experiences led him to seek a different path and enter the care industry. He said: “What really drives me is the desire to treat our residents as we would want our own mothers or fathers to be treated. Creating a home-from-home and a genuine family feel for our residents is absolutely essential, as is looking after our staff so that they’re happy in their work.


“It’s been great to work with Allied Irish Bank (GB). They are very efficient and employ a commercial approach to lending combined with keeping their clients’ interests firmly in mind. This was evident during the acquisition process and the team worked closely with me throughout to get the deal done.”


Carol Noonan, relationship manager at Allied Irish Bank (GB) in Nottingham, said: “Paul and his team have built a high-quality group of care homes which will be enhanced by these four acquisitions. His approach is to uphold the highest standards in a highly regulated sector, invest in his properties and support his registered managers and staff. We’re pleased to be able to back this latest stage of Paul’s growth aspirations and look forward to building on our relationship in the years ahead.”


Naomi Tudor of Shakespeare Martineau provided legal advice to Allied Irish Bank (GB).


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