Centrus advises Porthaven Care Homes on £235m loan facility from Starwood Capital Group

Transaction overview

Porthaven Care Homes (“Porthaven”), a leading provider of high-quality residential, nursing, dementia, and respite care, today announced that it has secured a new £235 million loan facility from an affiliate of Starwood Capital Group (“Starwood Capital”), a leading global private investment firm.

Established in 2010, Porthaven owns and operates 23 care homes across the UK. All homes are characterised by market-leading amenities, including cinema rooms, private dining rooms, café bistros, landscaped gardens, and 100% ensuite wet room facilities as standard.

The loan, secured against 14 of Porthaven’s homes, will be used to refinance existing debt and deliver a refurbishment programme across its portfolio to further enhance the comfort, safety, and well-being of residents.

Porthaven is led by a highly-experienced management team and employs over 1,900 staff to provide care to more than 1,300 residents in the private-pay sector. The business has a strong track record of operational excellence, with 95% of its homes rated ‘Good’ or higher by the Care Quality Commission (CQC).

Centrus served as financial advisor to Porthaven on this transaction, and Pinsent Masons served as legal advisor.

“Centrus is delighted to have acted as financial advisor to Porthaven on this refinancing. The new financing package provides a number of operational and economic enhancements, allowing Porthaven to continue providing market-leading care homes.”

Scott Douglas, Senior Director, Head of Debt Advisory – Centrus

“This new facility from Starwood Capital underpins their confidence in our business, and enables us to continue our journey in providing excellent care in outstanding environments for our residents.”

Sean Kime, CEO, and Adam Valentine, CFO – Porthaven

“Starwood Capital is pleased to support Porthaven through this new financing. The business has demonstrated a strong track record of delivering high-quality care in modern, purpose-built environments, and we look forward to supporting the next phase of investment across the company’s portfolio.” 

Irakli Meskhi, MD, Head of European Debt Origination – Starwood Capital

“We’re proud to have helped deliver this vital transaction for Porthaven. Our cross-sector team, led by Oliver Morgan and Carl Scott, worked hand-in-hand with the Porthaven and Centrus teams to secure the loan facility from Starwood Capital, ensuring Porthaven will continue to excel as a leading care provider. We look forward to continuing our longstanding relationship with Porthaven and working closely together during the company’s next growth stage”

Joanne Ellis, Global Head of Transactional Services – Pinsent Masons

For more information, please contact Scott Douglas, Senior Director, Head of Debt Advisory or Ella Boomer, Assistant Director

Back to Credentials

• 
• 
•