A team of expert business lawyers from Glenville Walker, led by Corporate Senior Associate, Mark Williams and assisted by Trainee Solicitor Stephen Mungo, have advised Presidential Care Limited on the acquisition of Totalwest Limited who operate Lower Bowshaw View Nursing Home, based in Sheffield.
Presidential Care deliver a range of services in the care sector and the acquisition enabled our client to continue the growth of its portfolio of businesses in that sector. The £1.65 million deal was part financed using Assetz Capital.
The acquisition process was impacted by the governments mini budget statement in September 2022 which resulted in a restructure of the loan facility, however, our lawyers worked diligently to ensure Presidential Care navigated the implications that the statement had on the finance facility.
Mark Williams commented, “We are delighted for Presidential Care who are a pleasure to work for. The deal had its complexities due to existing legal issues within Totalwest Limited that our client needed to be protected from and there was the fallout from the mini budget, however, we are pleased to have worked through those to the satisfaction of our client.”
Presidential Care shareholder Vannan Premananthan added, “Mark and his colleagues at Glenville Walker worked tirelessly and in a determined manner to get the deal done. Legal advice was detailed where necessary and commercially pragmatic where required.”
Scott Pamflett, Relationship Director at Assetz Capital said, “Assetz Capital are pleased to provide the finance to facilitate the acquisition and the next stage of Presidential Care’s growth.”
Glenville Walker pass on our congratulations to Presidential Care Limited and look forward to seeing what is next for them!