The Wolverhampton-based care home operator has more than 30 homes across the UK and has enjoyed ongoing growth and regular redevelopment of its portfolio.
Its business strategy focuses on continually modernising and refurbishing its homes and it currently has full planning permission across 25 of its properties to add capacity of another 150 beds via a major refurbishment programme.
St Philip’s anticipates adding around 20-25 beds per year to homes across its portfolio and expects to recruit approximately 60 new staff each year to service the increased capacity.
The business operates homes across both the East and West Midlands and North and South Yorkshire and also has 11 in Scotland in locations such as Perthshire, Midlothian and the Borders.
The new £27m package from Yorkshire Bank will provide funding to refinance existing debt and was facilitated by Jamie Stuart from the Bank’s Specialist and Acquisition Finance team in Birmingham.
Gary Hartland, owner and CEO of St Philip’s Care Group, said: “We have a mature portfolio of homes and we are committed to enhancing the already high standards we offer our residents by refurbishing and extending a large number of our properties.
“Our new arrangements with Yorkshire Bank give the business a platform for a long-term banking relationship which will help us to further develop the Group in line with our ambitions.”
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