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Care Company Takes First Steps Outside of Cardiff Thanks to Development Bank’s Help

Cwmni Gofal yn Cymryd Camau Cyntaf y tu Allan i Gaerdydd Diolch i Gymorth y Banc Datblygu

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A South Wales care firm has undertaken its first expansion outside of Cardiff, backed by investment from the Development Bank of Wales.

React Support Services is a specialist social care provider of residential and supported living services, supporting adults over the age of 18 in the community with mental health conditions and/or learning difficulties as they strive for a more independent and fulfilling life.

Since 2009, the Cardiff-based firm has opened 13 different services in the Cardiff area to provide specialist and tailored support to individuals living in the community. Its in-house clinical team comprising of doctors and nurses, along with its unique four stage recovery pathway, has allowed the individuals in its care to progress and achieve positive outcomes whilst living with React.
React works with 15 different local authorities and health boards to provide a high-quality service that continues to meet the needs placed on services today.

Seb Donnelly, React Support Services; Sally Phillips, Development Bank of Wales; Andrew Richards, React Support Services.

Now, with the support of the Development Bank of Wales, it has taken on a new site in the Rhondda Cynon Taff area, allowing the company to expand and provide much-needed services in this area.

The £650,000 loan from the Development Bank’s Wales Flexible Investment Fund has allowed React to purchase and refit a premise in the Rhondda area to convert it into eight supported living apartments.

The 24-hour staff team at the new site will be person-centred support to the new residents they look forward to welcoming in the coming months.

Andrew Donnelly, managing director of React Support Services, said:

“We’re really pleased to have worked alongside the Development Bank to secure this new site, which will allow us to provide specialist support to individuals within the Rhondda Cynon Taff area.

“The quick turnaround of the deal allowed us to secure the site at auction, and put us in the position to start renovation work on the building straight away– meaning it will be ready for new individuals shortly.”

The deal was handled by senior investment executive Navid Falatoori and investment executive Sally Phillips at the Development Bank.

The deal is one of the first to have been completed by Sally, who joined the Development Bank of Wales at the start of 2022.

Sally said:

“We are fortunate to have worked alongside the passionate and dedicated team at React, who work incredibly hard to provide a unique service in a high-demand field, supporting individuals and families in difficult circumstances.

“Care and health services are key part in the Welsh Government’s foundational economy – and given the impact of the pandemic on care providers like React, it’s all the more important that we are able to support them.

“Their track record of working with health boards and local authorities to provide specialist care – and their status as a Real Living Wage employer – make us proud to have worked with them in achieving this deal.”

They added:

“The £500m Wales Flexible Investment Fund (WFIF) offers investment for deals between £25,000 and £10 million, with a mixture of loans, mezzanine finance and equity investments available.”

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The Development Bank of Wales exists to help businesses in Wales start up, strengthen and grow, by getting them the capital they need across a range of routes.

As a unique resource in Wales, we offer flexible finance to all businesses at all stages, with funds available from £1,000 to £10million.

Our teams of friendly and dedicated staff all across Wales are on hand to provide guidance on the right investment and support for your business, and can provide the local insight which we know business owners value.

We’re one of the top five institutional venture capital investors in the UK by volume, with more than £100m invested in tech businesses.

We also work alongside partner organisations like Business Wales, and offers co-investment alongside banks, crowd funders, grants, private and corporate investors and other lenders.

And we’re committed to helping Welsh businesses improve their sustainability and achieving net-zero goals, helping them to transition to Wales’ green business future.

For more information, visit the Development Bank website at www.developmentbank.wales to find out more.

 

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