BN Care continues to grow with BGF and HSBC funding

The group has acquired its fifth care home in the South West of England, after securing a joint finance package of £4 million from BGF and HSBC UK.

29 June 2023

BN Care has purchased its fifth care home, after securing a joint finance package from BGF and HSBC UK, enabling it to continue to grow its portfolio in the South West and meet the needs of an ageing population. BN Care used the combined funding package of £4 million to acquire Barton Place Nursing Home in Exeter, which specialises in caring for higher needs residents.

Established in 2017, BN Care currently operates four other care homes: Hay House and The Dales in Exeter, St Vincent’s in Sussex, and Bymead House in Dorset, with plans to build a group of at least 10 homes in the future.

Wade Newmark, owner of BN Care, commented: “Barton Place is an important addition to our long-term goal of building a group that provides high-quality care to higher needs residents. Along with our sister home at Hay House, this makes us a leading provider in the area for dementia-related conditions and special individual needs.

“We are committed to the South West region and have already begun discussions to acquire a sixth site. I’m extremely thankful to BGF and the HSBC UK team for their support, as I couldn’t have done it without them. Both parties really understood my business needs and were a pleasure to work with.”

Chris Jones, investor at BGF said: BN Care is going from strength to strength thanks to the inspired leadership of CEO Wade Newmark and his commitment to providing high-quality services in the care home sector. We look forward to supporting BN Care to achieve its long-term goals, as it keeps growing its portfolio of homes, which will provide the top-class professional care that more and more people across the South West of England require.”

James Shepherd, Area Director at HSBC UK, said: “There is huge demand for care homes in the area, particularly those that cater for higher needs residents, so it’s great to be able to fund another one of BN Care’s sites and help the business grow further in the South West.”

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