Adept Care Homes has finalised a multi-million-pound deal with Yorkshire Bank, owned by Virgin Money, to re-finance the business and support the development of a new 84-bed care home in Hucknall, Nottinghamshire.
The family-run business operates seven care homes in the Midlands, and its eighth home is set to open to residents later this year.
The finance deal has been negotiated as part of Adept Care Homes’ move to Yorkshire Bank as a new customer under the RBS Business Banking Switch.
Managing Director at Adept Care Homes, Dave Lock, who founded the business in 1989, was keen to maintain a connection with relationship manager, Kenny Nelson.
Dave said: “Kenny has been supporting our growth for a number of years and when he moved to Yorkshire Bank, I was keen to continue that relationship, which influenced our decision to switch. He’s always done a really good job, providing robust guidance for the business, and he has supported us through this transition period.
“An important part of the deal has been the funding we needed to complete the development of our new, state-of-the-art care home in Hucknall. The coronavirus pandemic has delayed our original plans by a few months, but we are now nearing completion of the build and preparing to open for residents in the coming months. Recruitment is underway and we’ll be creating around 100 jobs for the local area.”
The new Hucknall home will follow Adept Care Homes’ successful approach to providing personalised care. The group promotes independent living through care suites, which offer generously sized bedrooms with en-suite bathrooms; lifestyle kitchens; modern furnished living rooms; outdoor spaces, including personal gardens and balconies; and a social calendar of entertainment and activities. The Hucknall home also includes a traditional pub, cinema, library, café, private dining facilities and hair and nail salon.
The company’s ongoing commitment to providing high quality, personalised residential care has led to its recent inclusion in the 2020 London Stock Exchange’s ‘1000 Companies to Inspire Britain’, a title it has earned for the last four years.
Kenny Nelson, relationship manager at Yorkshire Bank, said: “Adept Care Homes has a solid track record of consistent growth, undoubtedly driven by its commitment to providing excellent care for elderly residents. The company is one of the biggest SMEs to move to the Bank under the Business Banking Switch. I look forward to continuing to work with the team and supporting its ongoing growth and success.”