Care at Home Services has received £8.5 million in funding for the acquisition of Westminster Homecare.
As HCI reported last week, the privately-owned family business has completed the acquisition of Westminster Homecare, allowing it to extend its services throughout the East Midlands and the South East of England.
And now ThinCats, an alternative lender to mid-sized businesses, has announced that it provided the acquisition funding to make it happen.
The transaction was introduced to Thincats’ Business Development Director, Stuart Thompson, by Scott Taylor at CDI Global, corporate financial advisors. They said parties pulled together in order to deliver the funding within the very tight timeframe required to complete the deal successfully.
Care at Home Services commercial Director Dan McDowell said: ‘“We are absolutely thrilled that ThinCats and CDI Global have been able to provide a flexible financing package to support the acquisition. This allows us to take on the new network of branches, enhancing our portfolio of care services and spreading our geographical cover to more of the people that need our services the most.”
Stuart Thompson, director of Regional Business Development at ThinCats commented: “This acquisition sees an esteemed care provider extend their services throughout much of southern England, providing high quality homecare services for those who need it. I want to extend a big thank you to the team at ThinCats and CDI Global for their determination and perseverance in getting this over the line. Also, to Sarah Naylor at EMW for acting as the Lenders Lawyers and James Lawson of MHA for undertaking Financial Due Diligence.”