Pinsent Masons advises Caretech on new bank facilities

18 Jul 2012 | 04:53 pm | 1 min. read

International law firm Pinsent Masons has advised CareTech Holdings PLC (CareTech), a leading UK provider of specialist social care services, on the group's syndicated refinancing of £149.4m.

Santander, Lloyds TSB and The Royal Bank of Scotland continue to back CareTech, along with Allied Irish Bank who have rejoined the syndicate, to establish new term loan, revolving credit and overdraft facilities. The new facility provides the platform for the group to continue to grow organically, with the scope for bolt on acquisitions. 

CareTech provides high quality individual support and accommodation across a wide range of services including residential services, foster care and family services and mental health services.  The group has capacity for over 2,116 places and operates services across England, Scotland and Wales. 

Farouq Sheikh, CareTech's Executive Chairman, said: 

“We are delighted to report the successful renegotiation of our banking arrangements well ahead of the existing facilities expiry in April next year.  We are extremely pleased that all 3 current lenders are participating in these new facilities with previous lender AIB being a participant again.” 

He added: “The new arrangements provide a clear and attractive funding structure to facilitate the medium term growth of the business.”

The Pinsent Masons team advising on the deal was led by Banking Partner Martin Bishop assisted by Anaïs Spacey (Banking) and Tom Eastwood (Property).

Commenting on the deal, Martin said: "It was a pleasure to work with CareTech to achieve a successful refinancing of the group's bank facilities.  CareTech is a long-standing client of the Firm which, together with our strong healthcare sector credentials, helped us negotiate facilities specifically crafted for the group's business ".

Latest press releases

Show me all press releases

Pinsent Masons advises Bodymed AG on the sale to Nestlé Health Science

The multinational law firm Pinsent Masons advises the holding company of the founder Dr Hardy Walle on the sale of all shares of Bodymed AG to Nestlé Health Science.

Pinsent Masons secures 11th place in Financial Times Diversity Leaders 2021 Report

Multinational law firm Pinsent Masons has been named as a top 20 Diversity Leader by the Financial Times, ranked 11th in its Diversity Leaders 2021 report.

Pinsent Masons advises shareholders of Goodtill on its sale to SumUp

Multinational law firm Pinsent Masons has advised the shareholders of Goodtill on its sale to SumUp

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises Bodymed AG on the sale to Nestlé Health Science

The multinational law firm Pinsent Masons advises the holding company of the founder Dr Hardy Walle on the sale of all shares of Bodymed AG to Nestlé Health Science.

Pinsent Masons advises shareholders of Goodtill on its sale to SumUp

Multinational law firm Pinsent Masons has advised the shareholders of Goodtill on its sale to SumUp

Pinsent Masons advises Australian Gas Infrastructure Group on its landmark A$4 billion debt programme

Multinational law firm Pinsent Masons advised Australian Gas Infrastructure Group (AGIG), one of the largest gas infrastructure businesses in Australia, on its new funding vehicle and secured AUS$4 billion debt programme.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts