Envivo Group, a specialist healthcare group, has added the management of 72 specialist adult healthcare properties into its growing UK portfolio following a significant acquisition.
The operations of Heathcotes Group Ltd has been sold to the Envivo Group as it expands its footprint in the specialist mental health and adult care sector.
Heathcotes, based in Chesterfield, Derbyshire, is one of the UK’s most experienced providers of residential care for adults with learning disabilities, mental health needs and associated complex requirements.
Heathcotes provides quality care and services to individuals with often complex and challenging care demands related to learning disabilities and co-existing conditions including autism, personality disorders, or mental health conditions.
Working closely with providers who prioritise the delivery of exceptional healthcare outcomes, the specialist Healthcare team at Shawbrook Bank is experienced in providing funding to both residential care and SEN organisations. Stepping up its support to care providers within the UK specialist adult care sector, Shawbrook supported the acquisition of Heathcotes by providing Envivo Group with a commercial loan facility.
Paul Hainsworth, Chief Executive at Envivo Group, said: “The acquisition of Heathcotes is an exciting next step for Envivo Group. It is a well-respected, high-quality care provider.
“We are looking forward to working with the Heathcotes management team to further enhance the quality and breadth of their operations as part of the wider Envivo Group family.”
Paul added: “Shawbrook’s belief in what we’re trying to do and their extensive knowledge of this sector were clearly key ingredients in their ability to commit to and deliver the funding we needed in such a short space of time. To go from initial discussion to committed funding in just 15 days is genuinely extraordinary and will only serve to accelerate and amplify the impact of this transaction.”
Envivo Group, which has a presence throughout England and Wales, was established to acquire and grow specialist care homes around the UK. Existing homes within the Group are all rated by the Care Quality Commission or relevant regulatory body as ‘Good’ or ‘Outstanding’.
This is the second acquisition in as many months in which Shawbrook has supported Envivo Group’s growth in the specialist adult care and mental health sector. The Bank also supported the Group’s acquisition of Cwm Gelli Lodge, a 26-bed purpose-built facility in South East Wales.
Claire Perman, Associate Director of Shawbrook’s Healthcare Finance team, said: “With an estimated 1.5 million people with learning disabilities in the UK, including over 800,000 adults, demand for best-in-class mental health care and learning disability facilities has never been higher. This is largely driven by the increasingly complex care needs and challenging behaviours exhibited by young adults ageing into adult services and stepping down from hospitals.
“The adult care industry in the UK – like much of the UK’s healthcare landscape – remains underfunded. By supporting ventures such as Envivo Group’s latest acquisition we are supporting the industry at a crucial time.
“This is an excellent opportunity to strengthen our partnership with a strong Group with an outstanding reputation in the specialist care industry. From enquiry to completion in just 15 business days is unprecedented and we believe this acquisition will complement the wider Group’s existing business by providing outstanding care and increasing geographical spread.”
She added: “A huge thank you to Addleshaw Goddard, our trusted legal advisor, on the transaction as the excellent work completed by them ensured the tight completion deadline was met.”
Dasos Kirtsides, Head of Healthcare Finance at Shawbrook Bank, said: “Envivo Group is an outstanding business with a top-class management team and we are delighted to have backed them in this acquisition, which is within a specialist sector that we are keen to continue supporting.
“Claire did a fantastic job of pulling out all the stops to get this deal completed on time, which not only benefits the Envivo Group but the wider mental health and adult care sector also.”