Cain International has agreed a £65m revolving credit facility with Lovett Care to finance a pipeline of new care homes across the UK.
Founded in 2009, Lovett Care provides high quality care facilities with a particular focus on residential, nursing and dementia care.
The company currently provides 600 beds across its UK care homes portfolio and intends to deliver high quality care provision in desirable locations that serve the UK’s aging population.
Nikos Yerolemou-Ennsgraber, director at Cain, said: “By agreeing this deal with Lovett Care, we have established a strong relationship with a highly experienced provider. As the UK faces a significant demand for care beds, far exceeding the current supply, we are proud to contribute to the development of this sector.”
Keith Crockett, CEO at Lovett Care, added: “We are delighted to have initiated this relationship with Cain International, which will help us execute our strategy to deliver high quality, new build care homes across attractive markets. Cain’s expertise in the sector has been helpful in putting together a framework that fits well with our growth strategy and ambitions to deliver best-in-class facilities.”
