Springfield, one of Yorkshire’s and the North East’s leading care providers, has secured £7m of development capital funding from the Business Growth Fund and HSBC.
Having advised Springfield on its previous fundraising PPCF again advised the company on a transaction which will allow the development of the group’s second care village on an iconic site in York. The former home of Terry’s Chocolate will be restored and developed into a flagship care village providing 82 care suites and 8 luxury apartments.
In 2012 PPCF acted for the company and its shareholders, raising equity funding from The Business Growth Fund and debt funding from a combination of HSBC and Natwest. These funds were used to support both the domiciliary care business and to provide funding for the development of the Seacroft care village.
Tim Simpson, who led the deal for PPCF, commented “we are delighted to have assisted Springfield in raising the funding necessary to continue its development two and a half years after the initial investment.”