Bank of London and The Middle East finances Christchurch Group’s acquisition of competitor, Hunters Moor - IFN

Bank of London and The Middle East finances Christchurch Group’s acquisition of competitor, Hunters Moor

Daily Cover

UK: The Bank of London and the Middle East (BLME), a leading financier to the UK mid-market and one of Europe’s largest Islamic banks has successfully closed two financing facilities with Christchurch Group (Christchurch), a UK-based neurological rehabilitations specialist for the acquisition of competitor Hunters Moor, which provides similar services to Christchurch. The acquisition will make Christchurch one of the largest independent neurological rehabilitation providers in the UK, increasing their capacity by 60%. The first facility, an acquisition finance facility, saw UK mid-cap private equity firm Sovereign Capital work alongside BLME to provide equity for the deal; while the second aspect of the funding involved a rollout facility for the purchase and development of new properties across Christchurch’s target markets. Commenting on the deal, Jervis Rhodes, head of corporate banking at BLME said: “The completion of these rounds of financing with the Christchurch Group have strengthened our relationship with Sovereign Capital and added to our existing healthcare sector expertise.” He added that the deal is testament to BLME’s strong position in providing accessible and competitive solutions to meet the specific financing requirements of the UK’s mid-market corporates at a time when access to finance remains a challenge for medium-sized businesses in the UK. The deal is expected to increase Christchurch’s geographic footprint which now encompasses Oxfordshire in the south of England, to Yorkshire in the north; enabling the healthcare provider to meet the increasing demand for its specialized services.