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Our corporate finance legal specialists have helped national nursing home provider, MPS Care Group, to buy eight nursing homes from its former landlord, Quercus Healthcare. They have also helped them to refinance their existing portfolio of homes and freeholds in a deal worth over £16.5m.
17 October 2013
Deal
The MPS Care Group, which is owned by successful care home operator Paul Warren-Gray, has care homes across the United Kingdom and Northern Ireland and employs over 650 people.
This complex corporate finance transaction involved a group reorganisation, the refinancing of existing debt and further facilities to help the MPS Care Group to buy the additional homes.
Our Corporate & Finance team project-managed the transaction, drafting over 300 reorganisation documents and negotiating a suite of more than 40 refinance documents.
By instructing our project management and corporate finance expertise, MPS Care Group were able to deliver the required results with minimal stress and pressure throughout the process. In addition, our specialist Property team handled the commercial conveyancing for the purchase of the eight properties.
MPS Care Group’s senior leadership team commented on the corporate finance transaction:
“We want to jointly voice our thanks for the way that the legal aspect of the transaction, which was led by Flint Bishop’s Corporate & Finance and Property teams, was handled. The team worked closely with MPS Care Group’s employees and enabled the whole transaction to be executed in an efficient, smooth and trouble-free manner.”
A spokesperson for our Corporate & Finance team added:
“We have been working with Paul and MPS for several years and are confident Paul and his management team have secured a strong future through this refinance and the acquisition of the properties. The MPS group now owns all its trading premises and is in better control of its destiny.”
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