Macdonald Henderson has advised Inspire Scotland, the residential care group (which operates 16 homes across Scotland) in raising growth finance from alternative finance provider ThinCats.
Inspire Scotland is now looking to expand, with the cash injection being used to support the acquisition and refurbishment of freehold properties to provide new children’s residential services.
Connor Martin of Inspire Scotland said: “We are committed to giving every child and young person in our care the stability and opportunities they need to thrive.
“This funding from ThinCats enables us to expand our services and reach even more young people who need support.”
The latest transaction represents ThinCats continued support for the business, having provided growth capital in 2020 to secure a number of additional sites.
Richard Henshaw, head of healthcare, ThinCats, said: “Connor and his expert team provide exemplary care to young people across Scotland and England.
“We are delighted to be supporting this next phase of growth for the business.”
Stephen North, Synergy Commercial Finance, added: “Having worked with Inspire since the start, it’s a pleasure to be able to secure the next tranche of funds to assist the growth and development of the business.”