Regard is a leading provider of UK residential care and supported living services to hundreds of users across more than 120 sites.

The Montreux Healthcare Fund has taken a majority equity stake in Regard, bringing its management experience in the care homes sector. This includes (via the Montreux Care Home Fund) the majority ownership of the ACH care homes business.

Macquarie originated the Regard transaction and developed the capital structure of the deal.

Providing a bespoke unitranche loan and minority equity financing, Macquarie introduced Montreux Capital Management to the transaction. A $300m credit fund advised by Farallon Capital Europe, which is focused on lending to European mid-market borrowers, also participated in the debt facility following an introduction by Macquarie.

Oliver Harris, Managing Partner at Montreux Capital Management said: “Macquarie bring significant expertise in creatively developing and underwriting deals of this nature. This capability will allow us to focus on care delivery and growing Regard further throughout the UK with a number of opportunities on the horizon.”

Florian Herold, Co-Head of Macquarie Lending Europe, said:“Regard is a solid business with an impressive management team and we saw this as an excellent opportunity to bring multiple parties together, utilising Macquarie’s strong balance sheet to facilitate the deal. Having invested alongside Montreux previously we knew they were a very capable partner who can optimise the business for future growth.”

Sandie Foxall-Smith, CEO of Regard, said:”Montreux and Macquarie are excellent partners for the next stage of Regard’s development. Both parties recognise the opportunities available to us and we look forward to a highly productive partnership.”