The sector has seen a real change in financing since 2008. Some lenders have exited, new ones are coming in from overseas and the market is starting to evolve. Care sector-specific financiers and financial services know the sector well and are able to advise you on key issues and offer solutions to meet your needs.
Paul Birley is Head of Healthcare at Barclays and manages a team of relationship directors based across the UK and Ireland. Paul has worked for Barclays for 33 years and has been involved in the healthcare sector for the last 16 years. Barclays is committed to ‘giving people in care a better experience’ by supporting the healthcare industry and building relationships with a range of providers and organisations that operate within it. Sector specialist propositions covered include care providers both large and small, the NHS and the third sector, including the following sub-sectors: high street healthcare, healthcare services, asset-backed healthcare and life sciences. Barclays also supports the sector by facilitating networking events and industry sponsorships and has won HealthInvestor’s Bank/Lender of the year for five times in the last six years, the last of which was in 2014.
Paul Birley Head of Healthcare
Telephone: 07775 546435 • Email: firstname.lastname@example.org • www.barclayscorporate.com/sector-expertise/healthcare.html
Chandler & Co
John Read is a senior partner at Chandler & Co and has been working in the healthcare finance market for over 30 years. Over this time he has built up many close relationships with a wide range of lenders and professional contacts in the industry.
He and Jerry Webb set up Chandler & Co in 1995 and together with their partners have completed loans in excess of £2 billion nationwide. His first-hand experience in operating care businesses has proved invaluable when advising other investors.
He says, ‘With our 20th anniversary next year, we are still going strong, continuing to deliver our independent service to our clients providing a tailor made package incorporating not just finance, but expert assistance with the entire process.’
Clydesdale and Yorkshire Banks
Derek Breingan has more than 25 years’ banking experience, ten of which working directly with a wide variety of healthcare businesses: care home operators, dentists, nurseries, pharmacists and general practitioners.
His role as Head of Healthcare at Clydesdale and Yorkshire Banks is to support healthcare businesses to identify and execute strategic growth opportunities, whilst coordinating the Bank’s national approach to the sector.
Derek is a panel member of Developing Strathclyde, a charitable organisation which provides business loans to the third sector and SMEs which may not qualify for traditional bank support. He also lectures business studies to final year dentistry students at the University of Dundee on behalf of NHS Education Scotland.
In 2014, the Bank was nominated for the HealthInvestor Healthcare Lender of the Year.
David leads the dedicated Deloitte Healthcare and Life Sciences Corporate Finance practice. For over a decade, he has advised on mergers and acquisitions in the sector including buy-side and sell-side transactions, joint ventures and public sector partnerships. Clients praise his hands on approach – ‘expertise with a human face’ and ‘deals delivered with unyielding commitment and professionalism’. He has been at the forefront of high profile and innovative deals, working with clients including BUPA, United Drug plc and various financial investors.
At the 2013 and 2014 HealthInvestor Awards, the team was recognised as Corporate Financier of the Year. With a strong track record of success driven by deep industry knowledge, David’s team works with corporates, management teams, founder shareholders and private equity houses across a range of sub-industries, from healthcare services to pharmaceuticals, while Deloitte’s network of healthcare and life science professionals allows the team to operate on a global scale.
Jonathan joined GI Partners in 2010 and is responsible for the sourcing of new investment opportunities. He also oversees GI’s investment in the Cambian Group of which he was a board director until its IPO at an EV of c.£530 million in April 2014. In addition to Cambian, Jonathan was previously a board director of Care Aspirations and was involved in the sourcing and build-up of Advanced Childcare, the UK’s largest provider of residential children’s homes. Prior to GI Partners, Jonathan worked within healthcare at The Carlyle Group and he began his career in investment banking at Rothschild.
GI Partners is a leading private equity and real estate investor. In healthcare, GI’s focus is on backing businesses with entrepreneurial management teams with a view to creating best-in-class market leaders via expansion through acquisition, organic growth and investment in business infrastructure.
Global Business Finance – www.globalbusinessfinance.com
Mark Widdows founded Global Business Finance in 1989. He originally trained as an accountant and was later headhunted to run a financial services firm, before leaving this position to establish Global Business Finance. He and his team assist clients throughout the UK who specialise in the healthcare sector to achieve their objectives in refinancing, purchasing further businesses or developing new care homes.
Mark can offer, not just a finance broker’s or accountant’s approach to the task, but also that of a care home operator. For the past 11 years, Mark has operated care homes specialising in dementia care of the elderly, which brings a wealth of additional knowledge and an insight that most brokers cannot offer their clients.
Global Business Finance only works with clients in the care sector and has completed over £1.5 billion in loan facilities for customers to achieve their goals. They have extensive banking contacts and a reputation and ‘buying power’ that allows them to source highly-competitive funding facilities, with not just exceptional interest rates but excellent overall borrowing terms and repayment periods of five to 25 years and even interest only periods where the transaction justifies this facility, such as refurbishment, new build, extension or the taking over of a failing care business.
Credit facilities commence at a few hundred thousand but run into multi-millions for some clients and all manner of projects are handled by the firm. Recent successful loan placements have included a new 64-bed dementia home, a Georgian renovation, an eco-build extension, a refinance of over 200 beds to release funds for an unrelated business and the purchase of a further care home via an off-shore company.
However, everyday facilities have also included a new buyer seeking to purchase two care homes, a family investing in the next generation though a parental ‘gifting’ scheme as the children had no deposit funds plus a ‘deferred-payment scheme’ to help a buyer with limited funds buy a home that required immediate capital investment along with many other upgrading and extension funding transactions.
Grant Thornton UK LLP – www.grant-thornton.co.uk
Daniel Smith is Grant Thornton UK LLP’s UK Head of Private Healthcare and a Partner in the Advisory department. He is well-known in the sector with 20 years’ private care sector experience.
Daniel’s team provide a range of advisory services to the elderly and specialist healthcare sectors including fundraising, mergers and acquisitions, exit planning and restructurings with 25 recently completed mergers and acquisitions deals in the sector. High profile disclosable cases that Daniel has recently headed include Southern Cross and Castlebeck.
With a transaction size of £5 million to £250 million this makes Grant Thornton the preferred supplier in mid-market care transactions with an extensive network of contacts within the corporate and finance environments. Grant Thornton has won many Corporate Finance awards in recent years, reflecting our passion, capability and experience.
Recently, Daniel was invited onto the technical committee chaired by the Department of Health’s Director General of Social Care, advising on the future regulation of private sector care.
The private care sector is a Grant Thornton speciality where we have a depth of experience across a range of business streams enabling excellent integrated client service by:
- developing a thorough understanding of our clients’ businesses and needs;
- building strong relationships;
- being highly proactive in our approach;
- resolving issues rapidly;
- providing high levels of contact with strong partner involvement;
- fielding a dedicated care sector team that has demonstrable talent and experience;
Our integrated service lines demonstrate:
- dedicated specialists focusing on the healthcare sector;
- proven track record within the mid-market businesses sector;
- rounded service offerings covering strategic advice, corporate finance, due diligence, transactional support, restructuring, audit, tax and financial planning; and
- an extensive network of contacts/relationships with key people in the care sector.
Grant Thornton is one of the world’s leading advisory, consulting and accounting firms and a recognised leader in the private care sector providing advice and fundraising capabilities to elderly care and specialist operators and their stakeholders.
Hazlewoods – www.hazlewoods.co.uk
Andrew has a wealth of experience gained over 20 years of advising in the social care sector providing proactive accounting, tax, business and corporate finance advice to many care operators.
Andrew is nationally-recognised for his knowledge of the sector, having qualified as a chartered accountant in 1989 and then specialising in corporate finance in the early 1990s.
Andrew has a wide range of experience on mid-market transactions, which he shares with his many clients.
Hazlewoods is a long established accounting firm based in Gloucestershire, ranked 34th by size in the UK (the Corporate Finance team is ranked in the top 20). We are specialists in the healthcare sector, operating throughout the whole of the UK, and have long established reputation for innovation and service.
We have developed an enviable knowledge and understanding of healthcare over the past 25 years, which is used to help clients understand not only the financial impact of strategic decisions, but also the operational and commercial implications.
For a number of years we have been the UK’s number one corporate finance advisers in the sub £50 million market.
Our Corporate Finance team has won the Laing and Buisson Independent Healthcare Award as ‘Corporate Finance Adviser of the Year’ and ‘Due Diligence Specialist of the Year’ at the M&A Awards in the past.
Our Healthcare team advises healthcare operators covering a wide range of care throughout the UK, including the following sub-sectors:
- nursing homes for the elderly;
- residential homes for the elderly;
- domiciliary care;
- learning disabilities;
- supported living;
- mental health;
- children’s homes;
- foster care;
- children special needs schools;
- specialist needs education colleges;
- eating disorders, drug and alcohol units;
- secure units;
- independent hospitals; and
- acquired brain injuries.
Jones Lang LaSalle
As a leading global real estate services company, JLL is at the centre of market shaping trends and movements in capital through its global network of offices. Healthcare services at JLL combine a wealth of skills and expertise including valuation, consultancy, mergers and acquisitions, financial restructuring and building services.
The UK healthcare business is chaired by Phil Hall in London with regional representatives operating in Bristol, Leeds and Edinburgh. Phil has been at the forefront of the industry for many years, providing healthcare advice to operators, investors and lending institutions across many cycles in the market.
With an in-depth understanding of a wide range of healthcare businesses and sub-markets and the way real estate is used to generate value, JLL is unenviably placed to deliver real value and tangible benefits to its clients through creating and delivering sustainable and holistic solutions.
Mark Ellis is Head of Property and Social Care Banking for Lloyds Bank Commercial – which provides tailored banking services to care home businesses with a turnover up to £25 million.
He joined Lloyds TSB Group in June 2007 with a brief to develop a social care proposition to operate alongside the bank’s established primary care offering.
Mark has also held key positions in a number of high street and merchant banks working in both commercial and corporate banking and has extensive experience of the healthcare market, having been involved in the care sector for many years.
The bank has made significant investment in building a specialist team that understands the specific challenges firms face and can develop appropriate tailored banking solutions.
The Social Healthcare Banking team is targeting further lending increases in the sector during 2014 and is focused on growing its customer base in England, Wales and Scotland.
Royal Bank of Scotland
Stuart Dean is Head of Healthcare and Pharmaceuticals for Royal Bank of Scotland’s Corporate and Institutional Bank. In this role he leads a national team of sector focused relationship directors who support all types of healthcare businesses from both the independent and third sectors.
The team are focused on supporting new and existing clients that have a strong, person-centred care ethos.
Prior to this role, Stuart spent eight years working alongside private equity on a variety of transactions that included Advent International’s purchase of Priory Group and Bridgepoint Capital’s take private of Care UK.