Christie Finance secures £8.1m funding for Radiance Care Limited’s acquisition of two established care homes
Christie Finance is delighted to announce the successful arrangement of £8.1 million in funding for Radiance Care Limited, enabling the acquisition of North East Care Home Limited (NECH) in a landmark deal worth £7.9 million.
The acquisition includes Stainton Lodge Care Centre and Stainton Way Care Home two purpose-built, adjacent care facilities in North East England. Together, they provide 140 registered beds, both rated “GOOD” by the Care Quality Commission (CQC). With this acquisition, Radiance Care now operates two homes with a combined capacity of 240 beds, offering multiple specialisms in elderly care.
Radiance Care Limited is led by an experienced operator with many years in the care sector. The group acquired its first home in 2023 with Christie Finance’s support and has since demonstrated strong growth ambitions. This latest acquisition marks a significant step in their journey to become a leading provider of high-quality care services.
Ashley Clements, Associate Director, comments, “Once again, it was a pleasure to work with the clients to source the funding they required for this acquisition. Having worked with them before on the group’s first acquisition, I was fully aware of their tenacity and desire to grow and was delighted to exceed their expectations with regards to the terms of the deal obtained. I wish them all the best with this acquisition and look forward to working with them on future acquisitions.”
The care home purchaser, comments, “We would like to express our gratitude to Ashley, who was instrumental in securing this significant loan and ensuring the deal was successfully completed. He provided solutions during every challenge and kept the transaction on track by liaising with agents, the bank, and vendors whenever issues arose. His support and guidance throughout the process were simply outstanding. Ashley helped us achieve another milestone in our business journey. We highly recommend Christie Finance for their ability to present clients’ strengths to lenders, and we will certainly approach them for our future acquisitions.”
Get in touch to find out more about funding for your care home:
Ashley Clements
Associate Director, Christie Finance
T: +44 (0) 7714 138 984
E: ashley.clements@christiefinance.com