Friday, March 8, 2013

Springfield Healthcare Group funding increase land

LAW firm Watson Burton has advised companies in North Springfield home care Healthcare Group successfully secured £ 4.4m investment from the Business Growth Fund (BGF).

Yorkshire and Humberside largest independent providers of home care experts serving personal and domestic care in the community.

Led by Yorkshire-based group chairman Graeme Lee, the company was founded in 1967 as a family-run nursing home and as it continues to grow, now provides care to nearly 2,000 clients per day.

Two Springfield equity investment will look at expanding its operations across the region - £ 2.5m of funds invested in Homecare Springfield, to provide personal care for the elderly in their own homes.

Founded in 1998 in Leeds, Homecare Springfield now be approved by the credit provider, with seven local governments in Leeds, Wakefield, Hull, East Riding, York, North Yorkshire and Sheffield.

The remaining £ 1.9 m done in Seacroft Village Preservation, which will be used together with existing funds to develop a purpose-built facility located in the Seacroft area of ​​Leeds.

Newcastle-based law firm Watson Burton provided cross-departmental team of consultants to successfully complete the transaction, negotiating the terms and conditions of the funding agreement and provide advice relating to banking, property and litigation work.

Associated company James Nightingale led the legal team and assisted by banking partner Mark Lazenby, real estate associations Deborah Lazenby, Helen Foy corporate lawyers and attorneys work Kerry Waters.

Nightingale said: "We are very pleased with the successful outcome of this problem. Graeme Lee persuaded advanced Springfield Healthcare Group for its commitment to individual care for the elderly, and management of commercial sharp.

"Both continuous investment by BGF to maintain the quality and quantity of services provided to the elderly by Springfield High Group as it grows."

Graeme Lee said: "This investment of £ .4.4 m of BGF is good news for Springfield and individuals in which we deliver care. This will allow us to grow and maintain high standards so we can offer more hours of care and a wider geographical range.

"James and the team at Watson Burton has been a great asset for us in getting investments. Their in-depth knowledge of our business, pragmatic advice and dedication to ensure the successful conclusion of the transaction is important. '

BGF is an independent company with a capital of up to £ 2.5bn, which is supported by five major British banking groups - Barclays, Lloyds, HSBC, RBS and Standard Chartered.

Investment announcement in Springfield Healthcare BGF minority stake in the business view and join the existing board.

Springfield Health and Seacroft Village Preservation third and fourth ended by Manchester-based investment team BGF two months, and the second involving the Watson Burton. Investment follows the recent acquisition of Yorkshire-based Angels Homecare Services by Springfield Homecare Services. Watson Burton also advised to buy.

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