A £12 million funding package has backed a deal that has seen three Scottish care homes change hands.
Dundee-based Lorimer Care Homes has bought Gate Healthcare’s sites Howard House in Kilmarnock, Westwood House in East Kilbride, and Kintyre House, Invergordon. The deal adds a further 135 registered beds to the Lorimer group.
The transaction was supported by the eight-figure funding deal secured from Barclays Bank and arranged by specialist commercial finance broker Christie Finance.
Colin Rhodes, director of Lorimer Care Homes, which owns Glenfairn House and Carrick House Care Homes in Ayr alongside Bridge View Care Home in Dundee, said East Kilbride-based Gate Healthcare was an ideal fit for the company.
“Both firms have excellent reputations within the care sector,” said Rhodes.
Craig Dickson, director at Christie Finance which has a Scottish base in Glasgow, said the finance facility from Barclays including working capital and development funds, would enable Lorimer Care Homes to “expand and meet its long term objectives”.