LG advises growing healthcare group on £600m refinancing
7 February 2008
LG, the London-based business law firm, has advised new client Caring Homes Group in connection with its recent £600m refinancing with Bank of Scotland, principally comprising senior acquisition and refinancing facilities, pipeline development facilities, and blue sky acquisition and development facilities.
Caring Homes is a privately owned business with over 100 high quality care homes throughout England and Scotland, focusing on niche healthcare markets including elderly care, learning disabilities and mental health.
Hugh Maule, LG corporate partner who lead the team advising Caring Homes, said: "This deal marks a monumental step in Caring Homes' development. With these facilities in place, Caring Homes is positioned to continue its aggressive growth programme - looking now to further its services for older people, as well as for younger adults and children."
The LG team advising Caring Homes included partner Charles Malpass and solicitors Jon Lent and Gary Grigor advising on the banking facilities, solicitors James Morgan and Sam Gray advising on corporate matters, and partner David Hayward advising on the real estate aspects of the deal.
Charles Malpass adds: "This has been a very involved transaction, requiring a fully integrated service across a number of disciplines, and we have a very happy client as a result. The deal demonstrates again LG's ability to deliver large and complex structured financing transactions on time."
Hugh Maule continues: "We've been building our healthcare market practice for several years now. This deal not only cements our market position but demonstrates how our complementary set of banking, corporate, and real estate skills work together in servicing the industry."
Legal adviser to Bank of Scotland – and its equity investment arm, Uberior Ventures – was Nabarro.
Note to editors
- LG advises entrepreneurial and growth market clients seeking to raise capital for their business ventures. Our Healthcare team advises corporates, public and private sector bodies in the medical, medical technology, biotechnology and pharmaceutical sectors – as well as companies in the care home sector – on their full range of business needs.