£10m loan for company which runs care homes in Falkirk
A company with care homes in Falkirk has agreed a £10.2 million loan with Barclays to accelerate its long-term growth plans and expand its portfolio.
The funding package ensures Avondale Care Scotland has access to capital to provide premium facilities to residents - and supports the acquisition of residential care home, Glenbervie, also in Falkirk which is already under its operation.
It already runs Carrondale Care Home in the town.
The family business was established in 1987 by Allan Hendry, and it is now operated by his sons Graeme and Adrian Hendry.
It has delivered growth over this time and employs around 550 people across its four care homes. The business reported turnover of £11.5 million at its last audited accounts to April 2019.
Adrian Hendry, director, said: “We want to be able to provide the best possible care to our residents and this funding helps us to do so.”