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Graphite Capital, a UK mid-market private equity specialist, is providing significant equity capital to fund the development of Willowbrook Healthcare, a care home group for the elderly, as part of a £53 million development capital package.
Willowbrook is a new company formed in partnership with the care home management team of John Strowbridge, Ian Matthews and Roger Storey.
Graphite is providing a £23 million equity commitment from its most recent fund, Graphite Capital Partners VII, including equity capital from the management team. A banking syndicate, led by Royal Bank of Scotland alongside Allied Irish Bank and Bank of Ireland, is providing a £30 million debt facility. It is envisaged that additional capital facilities will be raised as Willowbrook grows further.
The following parties were involved in the transaction:
Royal Bank of Scotland: Andrew Branchflower, Paul Halliday and Kate Price.
Allied Irish Bank: Marguerite Mulvey and Neil Thomson.
McGrigors were legals advisers to the banks.
Willowbrook:
Legal: Olswang (Stephen Rosen, Adam Crossley, Mark Baynes, Claire Coburn, Kerry Langton and Steve Clark)
Tax: PwC (Andy Smith)
Commercial: Candesic (Victor Chua and Adam Scott)
