The group, whose homes operate under the Avery brand, currently has three nursing homes in the North of England and the Midlands, with a further five under development.

The funding package consists of £11 million in equity from Graphite’s most recent fund Graphite Capital Partners VII and the management team, together with £13.3 million in debt from Willowbrook’s existing banking syndicate led by RBS.

Mark Hudson, an investment partner at Graphite who led the transaction together with investment director Mark Hall, says, ‘Demographic changes are driving the need over the medium term for additional and improved care homes for the elderly in the UK.’

Willowbrook raised £53 million in November 2008.