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

Advising BP on first investment in AI in China

International law firm Pinsent Masons has advised global energy company BP on its investment in energy management tech specialist R&B

Pinsent Masons bolsters its Competition, EU & Trade Group with appointment of Hans Jürgen Meyer-Lindemann in Düsseldorf

Pinsent Masons continues to expand its Competition, EU & Trade Group, with the appointment of competition law specialist, Prof. Dr. Hans Jürgen Meyer-Lindemann, as a partner in the Düsseldorf office.

Pinsent Masons advises HZI on its first Energy from Waste Plant in Australia

International law firm Pinsent Masons has advised HZI on the development of the A$511 million East Rockingham Resource Recovery Facility in Western Australia

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons appoints Ian Laing as Global Head of Infrastructure

International law firm Pinsent Masons has appointed Ian Laing to lead its global infrastructure team.

Pinsent Masons appoints new Finance Partner in Sydney

International law firm Pinsent Masons is pleased to announce that Finance & Projects partner, Jim Hunwick, is joining the firm's Australia practice in Sydney.

Pinsent Masons wins Project Finance Deal of the Year award in Middle East

International law firm, Pinsent Masons, has been awarded the 'Deal of the Year for Project Finance' award at the International Financial Law Review (IFLR) Middle East Awards 2019.

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