Dau Care Ltd, a family-run business based in Birmingham, has secured its first care home acquisition through six-figure funding from Cambridge & Counties Bank.
Led by director Rajwant Dau, the company has purchased an 18-bed facility known as The Leys, situated near Birmingham.
The Leys, set within two acres of rural landscape 11 miles south of Birmingham, boasts a ‘Good’ rating from the Care Quality Commission.
It is tailored for the care of adults over 65 as well as individuals suffering from dementia, mental health conditions, and physical disabilities.
Dau Care Ltd was introduced to Cambridge & Counties Bank by Ashley Clements of panel broker Christie Finance Ltd. The bank provided the funding over a 25-year term at a 60% loan-to-value (LTV) ratio.
The care home, previously operated by another care home firm since 2008, has retained all of its existing staff, including a highly experienced manager and deputy manager.
Rajwant Dau, who has held multiple senior positions in the healthcare sector, said: “Demand for specialist and dedicated care facilities continues to grow and we firmly believe we can fulfil a clear market need through this acquisition. Our long-term ambition is to add to our portfolio on a strategic basis, given the strong fundamentals underpinning the sector.”
Paul Howard, regional director at Cambridge & Counties Bank, added: “Supporting entrepreneurs such as Rajwant and the team at Dau Care has long been a major focus for Cambridge & Counties Bank, and we have a great track record in the competitive UK care home industry. We wish the team great success as they embark on this new, rewarding venture.”
Cambridge & Counties Bank has a longstanding history of offering dedicated funding to care home owners, particularly through its UK Real Estate Finance team.
In the financial year 2022, the bank grew its REF team by nearly one-third to meet increased demand for its customised financial solutions, particularly from clients in the care home sector.
