Published: December 22, 2021 | Updated: December 23, 2021
ThinCats backs luxury care home operator with £7.6m refinance and growth funding package
A provider of high-end care homes in Dorset has secured a £7.6m refinance and growth funding package.
ThinCats, the alternative lender to mid-sized SMEs (small and medium-sized enterprises), provided Luxury Care Group Limited with the package.
LuxuryCare was established more than 18 years ago by Kevin Gunputh.
The Founder and CEO has grown the group from two homes to the current five.
They provide 290 beds, all based in Poole and Bournemouth, and offer a diversified range of services including residential, dementia and nursing, plus specialist services.
Additionally, one of the homes – Branksome Park Care Centre – operates a specialist neurological unit for over 18s with a life limiting condition.
The business was introduced to ThinCats by Steve Chester at Axis Commercial, an expert advisor.
He has long-term links to both LuxuryCare and Richard Henshaw, Director, National Development Healthcare, at ThinCats.
Legal advice for LuxuryCare was provided by Neil Cook at Ellis Jones Solicitors.
ThinCats were supported by Paddy Sturman at Irwin Mitchell.
Kevin Gunputh, pictured left, said: “We believe in providing holistic care that matches the needs of our clients and operate our homes to the highest standards.
“Having worked with Steve at Axis for several years, we wanted a funder that also understood our needs and ThinCats have lived up to that expectation.
“The funding comes at an important time for the group as we look to grow out of a challenging period for the sector.
Steve Chester, Owner, Axis Commercial Finance: said: “Our long-term partnership with Kevin ensured we were able to match his specific funding requirements with a suitable lender very quickly.
“The fact that a funding package was agreed expeditiously and processed in a timely manner is testament to the ability and professionalism of Richard and his team at Thincats.”
Richard Henshaw, of ThinCats, pictured right, added: “Kevin and the team at LuxuryCare are vastly experienced and operate some of the best care homes in the UK.
“We are very pleased to be continuing to provide support to the healthcare sector, and look forward to seeing their continued growth.”
The five LuxuryCare homes are:
- Aranlaw House, Branksome Park, Poole
- Branksome Park Care Centre, Poole
- Eagles Mount Care Home, Poole
- Regency Manor,Lower Parkstone, Poole
- Seabourne House, Southbourne, Bournemouth
ThinCats funds mid-sized SMEs with business loans from £1m up to £15m.
Its progressive approach has already enabled SMEs to borrow more than £900m.
ThinCats is the trading name of a group of companies owned by ESF Capital Limited.