P&C group’s funding deal for two care homes ensures safety of 84 jobs

The deal was made possible by a multi-million pound funding package involving National Westminster Bank, which was arranged and supported by the funder Reward Capital, which itself invested a six-figure sum. Based in Shipley and led by Patrick and Catherine Berry, P&C Care has acquired the properties and business of Ivy Nursing Home in Shipley and The Mount Nursing Home in Bradford, which were formerly part of Holberry Care.

As a result, their 80 clients are able to stay in their homes and the jobs of over 80 staff are secure.

Both of the 40-bed care homes will be managed by the couple. Mr Berry is a qualified nurse and worked for the NHS for 17 years before leaving to work in the private sector. He has run EMI (elderly mentally infirm) care homes for over 20 years and Mrs Berry has also worked in finance and nursing home administration for many years. Reward Capital, which was advised by Jonathan Simms of Clarion, was able to arrange a mezzanine funding package which bridged a shortfall in bank funding. The purchaser was advised by Mo Chaudry of CFD Accountants in Bradford.