The Buyacarehome team assist Walden Care with its growth aspirations...
Walden Care have purchased 2 operating care homes and also have a funding facility in place to refurbish their existing units and purchase 1 turnkey home.
Buyacarehome partners Chandler & Co, Mitchells Accountants and Windles Solicitors successfully delivered, acting for legal, accountancy and mortgage requirements respectively.
These were the 3rd and 4th acquisitions for the care home group, taking the total number of beds to 254 and they have ambitious plans to continue to grow. They needed to put together a dedicated professional team to enable them to complete purchases quickly and smoothly, most notably within a 3-month period.
Jonathon Read Senior Broker at Chandler & Co who arranged the mortgage for the deal said: “We have worked with Mike for many years now and continue to work with an increasing amount of group operators who are looking to expand in the sector. Unfortunately, the client’s existing bank could not assist with their ambitious growth plans.
As Chandler & Co have access to the whole market, we were able to agree a competitive mortgage package with a bank who matches their ambitions and will enable them to grow in line with this. The market is increasingly turbulent which highlights the necessity for complete market coverage and sophisticated presentation. Working alongside Mitchells and Windles enabled us to ensure that any issues that arose throughout the process were able to be addressed as quickly as possible. In the current market it’s important to work with healthcare specialists to deal with these issues efficiently.”
Managing Director Mike Whitehead who ran a family owned care group prior to setting up Walden Care said: “It is extremely important that as we look to grow we have a group of trusted advisors. In Chandler & Co, Mitchells and Windles we have a fantastic team.
I have worked with Jonathon Read at Chandler & Co on a number of transactions. He has delivered each and every time. I cannot speak highly enough of his professionalism and knowledge in the sector. At every stage of the business he has given us the correct advice and provided a number of options for us to choose from.
Tony Hornsby at Mitchells Accountants has been involved since we created Walden Care. His advice is invaluable and allows us to assess potential acquisitions from every angle to ensure we make the correct decision.
Daniel Corker at Windles is the most efficient and proactive solicitor I have ever dealt with. He looks for solutions at every juncture rather than just reporting problems back.
It is a testament to all 3 organisations that we would not enter into a transaction without them being involved and working alongside us.”
Tony said, “We are delighted to be involved and assist a quality operator in Walden Care continue with its growth aspirations. Mitchells act for many growing Care Home clients and working together with fellow Buyacarehome members Windles and Chandler & Co. we were able to assist the Walden Care team in successfully acquiring the homes and obtaining the required funding.”
Daniel Corker of Windles Solicitors said: “It was a pleasure assisting Mike and his team and I wish them all the best for the future”
Buyacarehome is an online community of care sector professional advisors including sales agents, finance brokers, accountants and lawyers.
