Graphite backs Willowbrook expansion

Willowbrook, a care home group, has secured £24 million from private equity firm Graphite Capital to develop more homes.

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.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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