Glenside Manor Healthcare Services, a UK-based independent neurological rehabilitation centre, has received an expansion financing of undisclosed amount from Bowmark Capital.
The firm has invested £25m to back the MBO and acquire a significant majority shareholding in the Glenside. £10m in debt were provided by RBS Financial Sponsors.
The business is being acquired from its founding shareholders, with funds being invested to support the roll-out of the company’s specialist care homes.
Glenside is planning to develop additional long-term care facilities and to support this strategy, the company appointment David Cole as Chairman. He is the former CEO of Castlebeck, a provider of residential care to people with complex needs.
Established by Denis and Clare Barry in 1982, and led by CEO Andrew Norman, Glenside curently operates 147 specialist care beds from a single site in Wiltshire, comprising a 40-bed intensive rehabilitation hospital and seven long-term care homes.