Arbuthnot Latham provides £2.7m to North West childcare provider
Arbuthnot Latham has provided a loan of £2.7m to The Village Nursery Group to support its continued expansion in the North West region.
The Village Nursery Group is a well-established, family-owned business with nine nurseries across the North West.
For four years, the bank has supported the group with funding to drive business growth through the acquisition of a number of additional settings; the most recent term loan facility was extended in February 2020 for £2.6m, supporting the acquisition of its latest setting in Wistaston, Crewe.
During the initial COVID lockdown, most nurseries across the country were forced to close. This significantly impacted the group’s short-term cash flow and business performance.
Arbuthnot Latham helped ensure that the business had sufficient liquidity to continue operating until normal trading could resume; The Village Nursery Group was able to continue trading through the pandemic and expanded its footprint with the leasing of an additional nursery site.
Ian Lightley, owner of The Village Nursery Group, said: “Last year was an extremely difficult one for all childcare providers. But having a relationship-led bank like Arbuthnot Latham behind us means that we have been able to find solutions to our challenges and identify new growth opportunities.
“We are now well positioned to continue to expand our business, looking ahead to the better times that are – hopefully – just around the corner.”
Andy Broughton, director and head of Arbuthnot Latham’s North West Office, said: “We have a great working relationship with the Village Nursery Group and we are delighted to have been able to support their business growth aspirations, especially during such unprecedented and challenging times.
“The recent acquisitions are fantastic opportunities for the Village Nursery Group and we look forward to seeing the business grow and prosper under their strong leadership.”