Swansea care home expands with investment from Finance Wales
An award-winning care home for elderly and disabled adults in
Swansea is expanding thanks to a £900,000 investment from the
Wales SME Investment Fund managed by Finance Wales.
Owned and run by Vitrose Ltd, one of Wales’
largest care home providers, the home offers specialised care to
elderly and disabled residents as well as adults suffering from
dementia and other conditions.
Finance Wales’ investment will fund the
completion of a purpose-built facility at Hengoed Park as part of
Vitrose’s long-term expansion which will see the home’s current
100-bed capacity double to meet increased demand for its
Managing Director, Desmond Davies has
successfully built the company up over the last 25 years. His
daughter and son have both joined the business and are now part of
the management team.
Mr Davies believes that the investment is a
significant step forward in the care home provider’s growth and
future sustainability: “We’ve worked hard to build our reputation
over many years. We’re proud of the levels of care we provide
and also the environment we create for our residents. We’re
very much a family business and many of our staff have worked for
us since we first opened.
“Opening a new purpose-built facilty means we
can offer more residents the high-quality care and accommodation
that’s become our trademark and we can also meet the increase in
demand that we’re seeing. Finance Wales has supported us with
a funding package that has enabled us to accelerate our
expansion plans and to do this in a sustainable way. They
understand our commitment to the business as well as the financial
and other pressures we face operating in such a heavily regulated
The home caters for a mix of private and
publicly funded residents and boasts an excellent inspection
Once completed, the new four floor facility
will provide a modern, high-quality environment for residents and
Vitrose plans to create up to 50 jobs in
Swansea as a result of the expansion and increasing capacity will
also help ease current local waiting lists.
The investment, which is one of Finance Wales’
first in Wales’ growing care sector, was structured by Investment
Executive, Sam Macalister-Smith. He said: “Many of the professional
services businesses we meet are well established and have
built their reputation over many years. Added to this they
have excellent customer and supplier relationships and benefit from
stable revenue streams and strong cash flow.
“Vitrose fits this mould. Desmond and his team
have developed a robust business model over the years and Finance
Wales is pleased to back their expansion plans. The new
Social Services and Well-being Bill (Wales) is a landmark for Wales
and Vitrose will be well placed to play its part in providing
sustainable services in future. We’re keen to explore how we
can back other care home providers in Wales.”
The Social Services and Well-being (Wales)
Bill recently completed its legislative passage through the
National Assembly for Wales and is expected to transform care and
support in Wales.
Finance Wales’ investment was made from the
£40m Wales SME Investment Fund, backed by the Welsh Government and