Bank funding backs Scottish care home deal

A £12 million funding package has backed a deal that has seen three Scottish care homes change hands.

Craig Dickson says funds will allow for expansion. Picture: Contributed

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.

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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”.