Residential care provider Regard Partnership Ltd has received £18m of funding in return for a minority stake in the business.
The backing came from private equity firm Mezzanine Management and the Bank of Scotland and the company’s acquisition funds have now been raised to £30m from £13m.
Regard was established in 1994 by John Farragher and John Webster who had both worked in the sector as mental health nurses for over 20 years.
They have grown the company rapidly since then through a mixture of organic growth and acquisitions, and it now has over 100 properties in England and Wales for adults and children with learning difficulties.
The funding will be used to continue this growth as well as providing an exit for its investor Bowmark Capital.
Farragher said: “The requirement for long-term care provision for people with learning disabilities is expected to grow.
“At Regard, we have built up a long-standing and in-depth understanding of this market and the care requirements for adults and children with a variety of complex needs.
“We are proud of what our team has achieved to date but see further significant opportunities in this market.
“We chose to work with Mezzanine Management because they listened to and understood what we wanted to achieve, and what we would need to get there.”
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