Alantra advises Synova-backed Oakland Care on securing a five-year financing package to support ongoing growth

Aug 2021

Refinancing

Alantra, the independent global mid-market investment banking firm, has advised Synova and Oakland Care, a provider of exceptional care in luxury care homes in the South East of England, on securing a five-year financing package that will allow the company to continue on its strong growth trajectory.

Oakland Care currently has six premium homes in operation, with a further three in construction and an expanding pipeline of development opportunities. The refinancing will support ongoing developments as well as financing new development opportunities that the group is actively pursuing.

Oakland Care will be continuing its long-standing partnership with HSBC, significantly bolstered by an additional facility from funds managed by Elevation, a specialist investment manager in the UK healthcare real estate sector.

The refinancing follows on from the recent announcement that Oakland Care had become the first UK care group to achieve carbon-neutral status across its entire portfolio following certification by the Carbon Neutral Trust. Recent performance has also seen the group achieve a number of accolades including ‘Top Employer’ accreditation and winning the category for ‘Management Excellence’ at the LaingBuisson Awards earlier this year. In addition, Joanne Balmer, CEO of Oakland Care, was recently awarded the British Empire Medal for her leadership during the turbulence of the pandemic.

Synova and Oakland Care were advised by Hoong Wey Woon, Partner and UK Head of Real Estate; Justin Crowther, Partner and UK Head of Healthcare; and Bobby Fletcher, Director, Real Estate.

Hoong Wey Woon, Partner and Head of Real Estate at Alantra, said, “Oakland Care is a high-quality business which provides great care and consistently achieves high occupancy rates and positive feedback from commissioners and relatives. We’re delighted to have advised the team at Oakland Care and Synova on securing market-leading funding lines with Elevation and HSBC; their partnership will enable Oakland to accelerate its growth over the next few years.”

Joanne Balmer, Chief Executive Officer of Oakland Care, said: “We are delighted to have secured financing that will allow Oakland Care to continue its journey as a leading care provider known for its exceptional care standards in luxury surroundings. I’d like to thank Synova for their continued support and for their guidance that has helped us secure the right financing partners.”

Tim Ashlin, Partner at Synova and Director of Oakland Care noted: “The refinancing will allow the business to scale significantly and execute on its development pipeline. We were well supported throughout the process by Alantra’s Real Estate Debt Advisory Team and Brodies (Legals). Oakland Care is an exemplary care provider and Synova is proud to be continuing to support the business and the team.”