Parklands Group predicts good year in 2020 following major investment from BGF, which is helping to fund new Highland care homes in Fortrose and Inverness
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HIGHLAND care home provider Parklands Group is expecting another positive year of growth following a £5 million investment which is helping fund the construction of two care homes – including their new site in Fortrose.
The cash injection, from the UK and Ireland’s most active investment company BGF, marks its first investment in this area.
The new care £5.5 million, 40-bed care home in Fortrose is nearing completion and is expected to open in the summer.
It will bring Parklands’ total facilities to nine across Moray and the Highlands, with plans for further developments in the next 12 months.
This includes Parklands biggest single investment, a £9.5 million 54 bed care home and playgroup for local children at Milton of Leys in Inverness. Construction on the project will begin in 2020.
In addition to the injection of capital, BGF introduced a non-executive chairman, Maurice McBride, to Parkland’s board to help guide and support Parklands’ growth plans.
BGF investor Keith Barclay, who also sits on the board of Parklands, believes the success of the investment is down to the strong relationship between BGF and Parklands Group.
He said: “We had been in contact with Ron Taylor at Parklands Group for a few years about the company’s investment potential and recognised a talented team with an exciting vision and growth plan that we wanted to partner with.
“Parklands has a fantastic culture within the business. The management team values every one of their staff.”
Ron Taylor, managing director of Parklands Group said: “The added value that Keith and the investment team bring is exceptional and the experience and advice that they have brought to the table has proved invaluable."
