Phoenix Learning and Care set for future growth following £20m bespoke loan from OakNorth Bank.
OakNorth Bank, the digital bank for entrepreneurs, by entrepreneurs, has provided a £20m loan to Phoenix Learning and Care, a leading provider of specialist education and residential care for children and young adults with a range of additional needs.
The £20m loan from OakNorth Bank will be used to support Phoenix Learning and Care Group’s acquisition of new residential care and education sites, as well as refinancing existing debt. Situated throughout the South West of England, South Wales and having recently increased its presence in Berkshire, recent new sites include the Grange, Neptune and Ty Monmouth Schools, located in Thatcham, Bristol and Newport respectively.
About Phoenix Learning and Care: Established in 2006 and now employing over 500 people, Phoenix Learning and Care Group operates 41 sites including residential children’s homes, specialist education schools & colleges and ongoing adult care (in the form of residential homes and supported living settings) across the South of England and Wales. Its mission is to meet every individual’s social and educational needs, enabling young people to flourish by always putting them at the centre of its thinking and practice. Regulated by Ofsted, CIW, Estyn and CQC, the Group supports children and young adults cope with their life experiences, providing them with the skills to be effective, productive and valued members of society. The business is also backed by Ashridge Capital, who specialise in partnering with ambitious management teams and providing private equity capital. Founded in 2009 by David Sherratt, Ashridge Capital has a proven track record in helping build successful and market leading businesses.