£25m funding package secured for national care provider
Leading audit, tax and consulting firm RSM has successfully helped Creative Support with a new £25m re-financing deal, providing the national not-for-profit organisation with a sustainable funding structure for long-term security and growth.
Creative Support is recognised as a significant national provider of supported living, prevention and care services in the UK. Its mission is to promote the independence, inclusion and wellbeing of people with support needs including autism, mental health, physical disabilities and those that are older.
Creative Support has been providing vital care throughout the coronavirus crisis. It currently employs 5,000 staff who support over 7,000 people through a range of services such as supported living, residential care and respite. The new funding structure means Creative Support has a strong, sustainable future.
Anna Lunts, CEO, Creative Support said: ‘Ashley Suter and the highly professional RSM team were personable and motivational and their application to the assignment and enthusiasm for our business never flagged. They did a fantastic job of advising and supporting Creative Support throughout this challenging process, right up to achieving successful completion of the new loan facilities, on time and as planned.’
Ashley Suter, who leads RSM’s debt advisory service in the North West said: ‘The work that Creative Support does is vital. The team make a real difference to thousands of people and they have continued throughout the current crisis to provide leading and essential care services. We were delighted to advise on this transaction and provide a number of funding alternatives, in what are very challenging times. Creative Support is well known for its reputation of working in partnership to deliver innovative person-centred support. This is testament to Anna and all her colleagues’ hard work, determination and compassion, and it has been a genuine pleasure to work with them.’
The funding has been provided by Barclays Large Corporate in Manchester.