LG wins new client with role on £600m care home refinancing
LG has scored a new client, advising healthcare company Caring Homes Group on a £600m refinancing of its business with Bank of Scotland.LG fielded a team under corporate partner Hugh Maule and finance partner Charles Malpass advising Caring Homes on the refinancing, which has seen the company restructure existing debt facilities as well as taking on additional equity. The company initially appointed LG as an ad viser around a year ago but the firm only won this deal, its first for the client, following a competitive pitch process last summer.
February 06, 2008 at 10:54 PM
2 minute read
LG has scored a new client, advising healthcare company Caring Homes Group on a £600m refinancing of its business with Bank of Scotland.
LG fielded a team under corporate partner Hugh Maule (pictured right) and finance partner Charles Malpass advising Caring Homes on the refinancing, which has seen the company restructure existing debt facilities as well as taking on additional equity.
The company initially appointed LG as an ad viser around a year ago but the firm only won this deal, its first for the client, following a competitive pitch process last summer.
Bank of Scotland and its equity investment arm Uberior Ventures, which provided the equity for the refinancing, turned to Nabarro. The Nabarro team was led by banking partner James Dakin and corporate partner Warren Taylor.
Nabarro also acted for Bank of Scotland on a £160m refinancing package for Caring Homes in 2005 but on this deal the healthcare group turned to Davies Arnold Cooper for advice.
Caring Homes is a privately-owned venture with more than 100 care homes under management throughout England and Scotland.
The group focuses on niche healthcare markets including elderly care, learning disabilities and mental health.
Its latest refinancing comes as the care home market undergoes a period of consolidation. Late last year Eversheds landed a role opposite Freshfields Bruckhaus Deringer on Sunrise Senior Living's $1.1bn (£542m) sale of a portfolio of 15 care homes. In the same month Skadden Arps Slate Meagher & Flom and Freshfields were instructed on Three Delta's £1.4bn acquisition of care home chain Four Seasons Healthcare from Allianz.
Malpass told Legal Week: "It has proved a busy sector over the current times. To a large extent it has been unaffected by the credit crunch and it is likely to remain that way, with a string of similar deals in the pipeline."
Maule added: "With an ageing population, banks and private equity will continue to be interested in care homes. The sector has been very active in the last three years."
More news, deals and comment on LG
For thousands of the best legal jobs, click here.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Quartet Of Firms Secure Roles as LG Group’s IT Services Arm Lists for $823M
A&O Shearman, White & Case Advise on €1.2B Public Takeover of German Steel Giant Salzgitter
3 minute read
Hengeler Advises On €7B Baltica 2 Wind Farm Deal Between Ørsted and PGE
2 minute readTrending Stories
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
