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Travers Smith advises Shawbrook Bank on the provision of a unitranche facility to WestBridge

Overview

Travers Smith LLP has advised Shawbrook Bank on the provision of a unitranche facility to an SPV owned by funds advised by Westbridge Fund Managers Limited (WestBridge) in relation to its investment in Bespoke Health & Social Care Limited.

WestBridge has invested £9.6 million to support the MBO of Bespoke Health & Social Care, a leading provider of complex care in the community, to underpin its future growth and development. Bespoke is a specialist nurse led service provider, with over 50 employees and 620 trained carers who enable and empower individuals with complex health and social care needs to be supported within their own homes and communities.

Shawbrook’s unitranche debt funding package – which was successfully completed during lockdown despite COVID-19 restrictions – will support BHSC’s future merger and acquisition plans, with WestBridge having the option to enlarge the facility if required.

This is the latest in a series of deals that Travers Smith has advised on as Shawbrook Bank sees demand for its unitranche product continue to grow, following its launch last summer.

The Travers Smith team was led by Finance Partner Katie McMenamin with support from Associates Katie Moran and Sam van Besouw.

Deepak Parekh, Senior Director with Shawbrook’s Financial Sponsors team, said: “We are pleased to support the continued success and growth of BHSC by funding this strategic investment by WestBridge Capital. Notwithstanding the unfortunate onset of COVID-19 and the nationwide lockdown measures, we have worked remotely alongside Travers Smith and all key stakeholders and are delighted to have been able to achieve the collective objectives of the sponsor and management team. It’s been a great team effort!”