Renaissance Care to double in size with £30m war chest

Zina Fragkiadaki
May 30, 2022

Scottish care home group Renaissance Care has secured £30 million additional acquisition funding with an unnamed backer as it plans to double in size over the next three years.

Robert Kilgour

The care home provider is intending to spend around £14 million on energy efficiency-focused refurbishments and additional beds across its care home portfolio, according to executive chairman Robert Kilgour.

More than £6 million will be spent on refurbishments in its existing care homes including new windows, full LED lighting, improved insulation, new boilers, and better heating controls as part of an energy efficiency drive. 

£8 million will be spent on six projects, subject to gaining planning permission, adding a further 56 new bedrooms, amongst other related improvements, at six of its existing care homes. 

Established in 2004, Renaissance Care currently operates 16 care homes throughout Scotland with around 1,200 staff.

Kilgour said this new investment is “substantial” but vital in maintaining and improving the high standards at Renaissance Care’s homes. “The last two years have been an incredibly tough time for residents, families and hard-working team members in care homes across the country and it is important to us that we provide the best possible care and facilities for our people. Despite all that we have been through since the start of the pandemic, we remain very positive about the direction of the business and our future plans. 

“As we look to further growth, we are proceeding with our expansion plans to double the size of Renaissance Care across the country, becoming one of Scotland’s major care home operators. At the heart of that, we are investing, developing and working alongside our people, ensuring that we can attract and retain the very best of talent to instill a person-centred approach across each of our homes.”

There are currently around 60 vacancies across the group and in all disciplines. As part of the new plans, the care home operator recently announced a full cultural review across its homes in response to exhaustion across the care sector following the pandemic. Staff across the homes will now be offered a range of new benefits including flexible working, a pay review across all roles, and a health and wellbeing package. 

Renaissance Care is additionally investing £500,000 on its operational management and accounting systems.

Subscriber content

To get unlimited access subscribe today

Subscribe

Already a subscriber? Login