- Founded in 2010, Warwick Capital Partners is a global private equity and credit firm focused on addressing complex capital needs;
- With offices in London and Stamford, Connecticut, the firm’s assets under management total over $2.5b;
- The £52m loan from OakNorth will part fund Warwick’s acquisition of national care home operator, Danforth Care, from LNT Care Developments;
- LNT Care Developments is also an ongoing OakNorth customer having secured a bespoke loan in June 2023 to develop up to eight new carbon-zero care homes across the UK.
OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £52m loan to Danforth Care, as part of its acquisition by Warwick Capital Partners, the private equity and credit firm.
Founded in 2010 and with offices in London and Stamford, Connecticut, Warwick focuses on addressing complex capital needs across equity and debt. With assets under management totalling over $2.5b across its European Flagship Funds, Specialty Funds, and Performing Credit, the firm seeks to unlock value for its investors through a rigorous yet innovative approach to investing. The £52m loan from OakNorth will part fund Warwick’s acquisition of a majority stake in national care home operator, Danforth Care, from existing OakNorth customer LNT Care Developments. Danforth Care operates 18 purpose-built and operationally carbon net-zero care homes across the UK, with its portfolio expected to grow to 25 homes in the coming months.
Shanil Shah, Partner at Warwick Capital Partners, said: “At Warwick, we are always on the lookout for opportunities with a scarcity of capital and investment. In the UK, we continue to see demand for modern homes with quality care such as those Danforth provides and are pleased to support that growth alongside the deep sector expertise of LNT. OakNorth demonstrated an in-depth knowledge of the care sector throughout the entire transaction, as evidenced by its continued support of LNT Care Developments over multiple transactions.”
Mike Whitehead, CEO of Danforth Care, commented: “Since day one, our mission has always been to create a home-like atmosphere for our residents that is safe, secure, and encourages independence. We are committed to providing the highest quality of care and services to our elderly residents and we strive to create a place where they can be comfortable, while feeling respected and valued. The support from Warwick and the financial backing they received from OakNorth will help accelerate our growth, highlighted by our expectation to open seven further homes in the coming months.”
Deepesh Thakrar, Senior Director of Debt Finance at OakNorth, added: “We were delighted to support Warwick on this project as it emphasises our strong ambitions to do more to support the UK’s care sector moving forward. Its highly impressive management team, with over 30 years of experience within the sector, is a key factor in our confidence. The historical demand for LNT-built care homes has always been robust that has seen them provide more than 15,000 beds to the UK’s ageing population. This consistent high demand, combined with Danforth Care’s reputation for offering personalised high-quality care plans within five-star living environments, indicates a strong potential for future growth and profitability.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015, OakNorth is the digital bank for entrepreneurs, by entrepreneurs, empowering scale-up businesses (£1m-£100m turnover) to support growth, prosperity, and innovation for the benefit of all.
Since its launch, the bank has:
- Lent over £10bn to these businesses, directly helping with the creation of 40,000 new jobs and 29,000 new homes across the UK.
- Raised deposits from c.254,000 savers.
- Supported several hundred businesses across the UK with the debt finance to pursue their growth ambitions.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
Media contact
Tom Pavey-Smith, Associate Director, Growth & Communications – [email protected] / [email protected] / 0791 716 5588