Family-owned south coast care provider Colten Group has secured £41m in funding from HSBC for its expansion.
Colten Group , which designs, builds and runs its own homes, has 20 properties with more than 1,700 staff caring for 1,100 residents.
Chief executive Mark Aitchison (pictured centre left with Michael Harrison, relationship director at HSBC commercial banking) said: “Our new HSBC funding package is very important to us strategically. It ensures we retain ownership of all our homes, provides a secure long-term financial structure and delivers additional debt facilities to support our continued growth through building new homes.
“The facility enhances our overall financial strength and capability, broadening our funding options as we commission our next home and look to build and open further homes in years to come.
“We are proud to have agreed such a facility at a time when the debt environment facing many care sector operators remains challenging.
“HSBC are supportive of our continued organic growth strategy. It’s a new relationship for us with a banking partner that clearly has an appetite for the private care home sector.”
Headquartered in Ringwood, Hampshire, the Colten Group provides residential, nursing and specialist dementia care services.
It owns and runs 11 Colten Care homes in Dorset, seven in Hampshire and one each in Wiltshire and West Sussex.
Mark added: “We are a family-owned business that offers the highest standards of elderly residential, nursing and dementia care.
“It’s very important for our residents and their relatives to know that their care needs will be met by our professional and experienced in-home team of nurses and care staff.
“Too many care home operators are stepping away from providing nursing care deeming it too difficult. We have always bucked the norm and risen to challenges. We see delivering nursing care as an integral part of elderly care.”
Michael said: “Colten is a premier care home operator. We are delighted to be working with them as a new client and have put this funding facility in place over the course of the past year to enable the management team to drive company growth and future development.”