Funding secures growth of Northern care group

Optimo Care Group which provides homecare services across the North, has completed a refinancing deal with Santander, assisted by Grant Thornton’s corporate finance team in Yorkshire.

Grant Thornton’s corporate advisory team in Sheffield led by director Claire Davis and supported by James Taylor, worked with the company to secure a term loan and working capital facilities totalling £1 million from Santander UK plc, led by Paul Turner, relationship director in the bank’s healthcare team.

“Optimo is a well-established business with many years’ experience of providing domiciliary care services.  It has great potential and we were happy to be able to arrange funding to enable it to continue to grow as part of its strategic plans,” comments Paul Turner of Santander.

Claire Davis of Grant Thornton adds: “We are familiar with Optimo having provided auditing services for the company and know that it is a reputable, well-resourced business which has won significant contracts and will look to continue to make further acquisitions. By partnering the business with Santander, Optimo is in a great position to continue to flourish.”

Optimo’s chief executive Richard Walker said of the deal, “Despite the continued funding pressures within the social care market, we have delivered consistent growth in our high quality care services. We thank Grant Thornton for their support in this process and look forward to partnering Santander as we embark on the next chapter of the group’s plans.”

Optimo Care Group employs over 650 care and support workers and operates from a number of office locations across South and West Yorkshire as well as in the North West of England through its subsidiaries Warrencare and TLC Homecare.

Founded in 2010, it offers award winning home based care solutions delivered by skilled care workers including: homecare, domestic help, home respite, learning disability, supported living, support for children and families, as well as specialising in dementia support.