Ascot Care eyes future growth with multi-million pound refinance deal13/11/2023
Further expansion is in the sights of a leading North East care provider after it completed a multi-million pound refinance deal with HSBC UK, thanks to support from award-winning law firm Mincoffs Solicitors and RMT Accountants and Business Advisors.
Ascot Care operates seven care homes across the region, with the team most recently acquiring Langley House Care Home in Horden and Princess House Care Home in Seaburn.
The funding will allow the family-run business to strengthen its presence in the sector and grow its portfolio across the North East and further afield.
Along with its other homes in Alnwick, Darlington, Durham, Whitley Bay and South Shields, the care provider also owns Ascot Care Agency, which delivers high quality home care and live-in care across the region.
Gareth Nesbit, director at Ascot Care, considers the recent refinance a crucial step towards achieving their long-term growth objectives.
“It’s been a very smooth process with Mincoffs, HSBC UK and RMT,” he said.
“We continually look to expand the group with care homes that fit our portfolio and a crucial part of that is obviously having the right professionals in place to assist, in terms of solicitors, banking and accountancy.”
Mincoffs Solicitors provides a full service offering to Ascot Care across a number of departments and corporate partner John Nicholson, real estate partner Malcolm Wood and real estate solicitor Jordan Down worked closely with Gareth and his team on the deal.
“It was a pleasure to support the Ascot Care team in reaching what is a really exciting next stage for the business, opening the doors for significant growth down the line,” said John.
“The refinance will allow Gareth and the team to solidify Ascot Care’s position as a leader in the North East care sector, along with facilitating the delivery of its top quality care services to even more people across the region.
“This is a fantastic move for Ascot Care, and Malcolm, Jordan and I look forward to working closely with the team on future deals.”
Paul Gainford, director of commercial services at RMT Accountants and Business Advisors, said: “Ascot Care is allying a strong, longstanding market reputation with the optimum standards of care on which it’s based its ambitious growth plans and now has a great opportunity to make major strides over the coming years.”
Mincoffs Solicitors has provided expert legal services and advice across the North East and beyond for 75 years.
Alongside corporate and commercial services, the firm’s offering includes real estate, dispute resolution, employment law, licensing and gaming, residential conveyancing, family law and wills, probate and trusts.