At-home care provider secures £3.5m investment
Nobilis Care, a provider of at-home care for the elderly and vulnerable, has secured a £3.5 million investment from independent asset manager Boost&Co.
The Southampton-based company was founded in 2008 by husband and wife David and Nicky Watt. It has a network of 13 branches around the UK and employs more than 750 people.
The funding will be used to enhance the firm’s working capital and enable expansion into new territories in the next 18 months.
Adam Brinn, head of London and East at Boost&Co, said: “We are pleased to support Nobilis with this funding round that will support growth and working capital across the group, as it continues to expand into new territories. The focus on investing in its people and maintaining quality of care at a time when the sector is facing multiple challenges, really demonstrates the resilience of the management team and their determination to stand by their mission. It was a pleasure to work with David and Lisa and we look forward to supporting the business in the future.”
David Watt, chairman at Nobilis Care added: “This investment from Boost&Co will be invaluable in helping us to continue our mission to improve care in the community, make it more accessible and ensure that the elderly are able to retain their independence. We are looking forward to expanding the reach of our services across the UK, continuing to employ the very best carers to provide the highest quality of care and enabling more clients, and their families, to access this support.”
Boost&Co offers loans ranging from £2 million to £10 million, covering a wide range of sectors. It has funded more than £500 million across more than 130 deals to date and provided close to £200 million under the government’s CBILS initiative to support SMEs during Covid-19.