Chesterfield healthcare provider Heathcotes Group has agreed a £20million expansion plan which will double the size of its business.
The deal, which combines finance from a leading high street bank together with debt funding and working capital, has been agreed on behalf of the group by Mitchells Chartered Accountants and Business Advisers.
Heathcotes has more than 30 care homes and around 800 full-time staff in Leicestershire, Nottinghamshire, Derbyshire, Staffordshire, Lancashire, Cheshire and Yorkshire.
Now it is now targeting cities such as Manchester and Birmingham for further growth and plans to add a further eight care homes to its expanding portfolio in 2015, with more scheduled in 2016 and 2017.
David Harrison, chief executive of Heathcotes, said: “Since founding the business 12 years ago we have successfully built a strong reputation across central England for delivering high-quality, purpose-built facilities for our residents.
“We have an excellent relationship with Mitchells and their understanding of our ethos, expansion plans and our approach to the care sector makes them a valued business partner”
Tony Hornsby, partner at Mitchells, said his firm had enjoyed a ‘fantastic relationship’ with the group and paid tribute its rapid growth.
He said: “We have enjoyed assisting them with their growth and look forward to working with them through their expansion process.”