MML refinances The Regard Partnership

Previous debt providers Bank of Scotland and Allied Irish Bank were replaced by a bank club consisting of Royal Bank of Scotland, Barclays, GE and Clydesdale Bank. The refinancing provides The Regard Partnership with an acquisition facility of £10m of debt and further development capital.

MML took a minority stake investing £18m in a 2007 secondary MBO of The Regard Partnership.

Company
The Regard Partnership, founded in 1994 by John Farragher and John Webster, provides care and supported living services to people with learning difficulties. Based in Surrey, UK, it currently provides 750 beds at 120 sites throughout the UK.

People
Managing partner Bal Johal and investment director Luke Jones represented MML. John Farragher is CEO of The Regard Partnership.

The banks were represented by Jonny Wright and Andrew Clayton (RBS), Glenn Sargeant (Barclays), Alison Taylor (Clydesdale) and Owen Verrier-Jones (GE).

Advisers
Equity – Wragge & Co, Ian Piggin, Fayaz Patel, Chris Brierley, Angela Rawlins, Phil Clissitt, Robert Breedon (Legal).
Management – Equita, Chris Spanoudakis (Corporate finance).

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• Topics
• UK / Ireland
• Healthcare
• Expansion
• United Kingdom
• MML Capital Partners