Entrepreneur secures joint investment to purchase care at home business

An entrepreneur has completed the acquisition of a Telford home care agency after securing £350,000 in funding from lending specialists UKSE and BCRS Business Loans.

Rick Kaul purchased Supreme Home Care to become one of the first applicants to successfully receive investment from the newly formed West Midlands arm of UKSE.

The Tata Steel subsidiary provided £200,000 towards the purchase, with a further £150,000 from West Midlands and Wales based BCRS Business Loans.

As a result, 130 jobs have been safeguarded with a potential to create an additional 50 new roles following the acquisition.

Covering Shropshire, Telford, Newport and surrounding areas, Supreme Home Care, which is based in Pearson Road, Telford, provides emergency, rehabilitation and long term care to adults with a wide range of physical and mental needs, as well as respite at home support.

Providing strategic loan and equity packages of up to £1m to generate growth, UKSE’s West Midlands team create local job opportunities and bolster the economy by supporting SMEs across Birmingham, the Black Country, Coventry, Staffordshire and Telford.

BCRS Business Loans provides funding to West Midlands and Wales businesses that are struggling to access finance from traditional lenders. Businesses can secure loans from between £10,000 and £150,000 from BCRS Business Loans to support growth and recovery plans.

Rick Kaul said: “I plan to create additional job opportunities as we expand into complex critical care support and specialised care for adults and children.

“In addition, we will be working with Telford College to provide level 3- level 6 health and social care apprenticeships.

“I would like to take this opportunity to thank UKSE and BCRS Business Loans for their support.”

UKSE area manager Steve Grice said: “Supreme Home Care is a strong example of a growing company that is sustaining valuable jobs and strengthening employment in the region.”

Stephen Deakin, chief executive at BCRS Business Loans, added: “As a lender that delivers funding for intentional social and economic impact, it is great news that the funding will secure the future of Supreme Home Care.”

Established in 1975, UKSE is a wholly owned subsidiary of Tata Steel UK Limited with a mission to enable and encourage businesses and the people behind them to create jobs, grow and prosper, within communities affected by current or historic changes in the steel industry and its jobs.

UKSE supports the local economy by making equity investments, ensuring management stays in control of the business and offers a flexible exit policy.

As a Community Development Financial Institution, BCRS Business Loans’ purpose is to provide access to finance to enable local businesses to grow and prosper.

Since it was founded in 2002, it has provided loans worth more than £85 million to businesses across the West Midlands.

Pictured: From left - Steve Grice of UKSE, Rick Kaul of Supreme Home Care and Louise Armstrong of BCRS Business Loans