About the client
Founded in 2011, 3L Care provides residential nursing and social care, day care and weekly respite breaks for adults with complex nursing needs, covering acquired brain injury, complex health needs, learning disabilities, autism and physical disabilities. Prior to the transaction, 3L operated from 2 homes based in Winsford with a total of 16 beds plus day care facilities
About the deal
Having advised on the 2011 fundraising, we were delighted to help again when 3L Care sought our assistance with re-financing the original loans and sourcing further growth funding. As a small business, 3L Care required significant support in developing and presenting the financial proposition. Rickitt Mitchell worked with management for 12 months prior to launching the fundraising, then identified a family trust where the beneficiaries have a clear understanding of the social value of 3L Care’s service offering. Rickitt Mitchell co-invested alongside the family trust, reflecting our confidence in the proposition.
As part of the fundraising there was an agreed facility provided for growth, which has since been used to acquire a third site, adding 9 further bedrooms to the estate.