Midlands childcare provider opens eighth nursery in the region

Tommies

Tommies Childcare has acquired its eighth nursery in the Midlands as part of the company’s expansion plans.

The Coventry-based company has opened its first in Derby with a further site in Nottingham on the cards for the future.

The new venture Thornhill House was made possible following a £1.65 million finance package from its new banking partner HSBC UK. It included a £1.4 million re-finance of the business’s existing facilities and a £255,000 business loan.

Tommies Childcare Ltd celebrated its 20th anniversary in 2018 and it can now accommodate almost 400 children across its eight sites in Coventry, Warwickshire, Nuneaton and now Derby.

 

tommies2
Tommies Childcare based in Coventry

Caroline Fooks, Chief Executive Officer and Founder of Tommies Childcare Ltd, said: “It has been 20 years since we opened our first site and to see where the business is now makes me so proud. Our ambition is to continue to grow the business by acquisition and we feel confident that our new banking partner, HSBC UK, will help us achieve this.

“We would like to thank our Relationship Manager at HSBC UK, Will Simpson, who has helped us throughout the switch and we look forward to working with him in the future as we expand the business.”

This deal is part of HSBC UK’s £500 million lending fund to support small and medium-sized enterprises (SMEs) in the East Midlands.

David Tomlinson, Area Director of East Midlands, HSBC UK said: “Caroline and her family wanted a flexible finance package and we were well placed to assist. It’s an exciting time for the business as they move into a new area and continue to look at new cities to expand the business into. It’s great to have them on board and we look forward to working with them over the coming years.”