Structured loan from Reward Finance enables entrepreneur to buy children’s nursery

30-Aug-2018

The Go Wild Bury Private Day Nursery & Creche is now operating under new ownership and management following its acquisition by Pourya Kaveh from Elaine Patel, who opened the nursery in 2015.
 
The purchase was facilitated via a structured loan from the Manchester office of SME lender, Reward Finance.
 
Having built a successful business with 185 children registered for various activities, Elaine decided to sell the nursery so she could start her retirement and concentrate all her efforts on fostering.
 
Successful entrepreneur, Pourya, identified the potential of the nursery, which has an excellent reputation in the area.
 
The nursery and crèche is within an Edwardian building, formally known to locals as the Old Post Office, located next to Millgate Shopping Centre in the heart of Bury town centre. Operating across three floors, it has recently undergone a complete refurbishment, including the installation of CCTV throughout. 

It has its own roof top garden, which includes a ‘village allotment’, market stalls, village library, mud tea room, castle and tower.
 
It currently employs 23 people, all of whom have transferred to the new business, with further jobs planned to cater for the additional activities. 
 
Speaking about the purchase, Pourya, said:
 
“Elaine has created a fabulous business, which provides excellent care for children in the area. There is a huge potential for the business to attract additional children by providing facilities seven days a week in the future and in different formats.
 
“We are located next to the shopping centre, which attracts 265,000 customers a week, as well as the market and The Rock, so we are ideally placed to provide crèche facilities to shoppers.
 
“We have a great team of highly qualified and inspirational people at Go Wild Bury and we will continue to provide a stimulating and welcoming environment, both indoors and outdoors, which will keep the children motivated and interested to learn.”
 
Clive Briggs, Reward Finance’s business development director in the North West, had no hesitation in organising the finance to enable Pourya to purchase the business, Clive said:
 
“Go Wild Bury is already a well-established and successful day nursery and crèche in Bury, which has a great team in place. Pourya’s business acumen and track record will enable the business to progress to the next stage of growth by opening up the enormous potential that exists to expand the services to a wider audience.”