Care Home Changes Hands with £950k Development Bank of Wales Support


Caption – Sally Phillips, Development Bank of Wales; Kuljit Grewal, Williamston Nursing Home; Clare Sullivan, Development Bank of Wales

An award-winning care home has been taken on by new owners thanks to support from Development Bank of Wales.

Williamston Nursing Home is a 34-bed care home set in five acres of garden and woodland in Houghton, near Milford Haven. Opened in 1995, the business, which provides care and accommodation for elderly residents, was run for nearly 30 years by a former owner, who looked for an opportunity to sell the business late last year.

The home has now been bought by husband-and-wife team Kuljit and Parmjit Grewal, who purchased both the property and the business and intend to keep all current staff at Williamston. The purchase was backed with a £950,000 loan from the Development Bank of Wales.

In addition to keeping on all existing staff, Kuljit – a former City of London financier – is set to make renovations and improvements at Williamston, including digitising existing care plans, allowing staff to easily gather and update important information on residents and their care needs. The new team are intent on building on the home’s former successes by working with its highly-experienced team.

Kuljit said:

“Williamston Nursing Home has a fantastic reputation. Residents and their families recently voted it one of the Top 20 care homes in Wales, and its latest Care Inspectorate Wales inspection shows it’s a home where people feel cared for, and where their needs are taken into account.

“As Parmjit andI step in as new owners, we’re lucky to have experienced staff on board – including senior care manager Nicky Richards, who has at Williamston for more than 20 years.

“The loan provided by the Development Bank of Wales meant we were able to capitalise on the opportunity to buy the home as the current vendor looked to step back, which in turn gave confidence to existing residents and staff that the changeover would go ahead smoothly. We’re really looking forward to the days ahead of us at Williamston Care Home and are grateful to everyone for their support.”

Sally Phillips, investment executive at the Development Bank of Wales, said:

“It was a pleasure to work with Kuljit and Parmjit as they took on Williamston Nursing Home. As demand for care continues to increase, it’s good to know that our financial support has meant this home will continue to operate and provide vital care – including respite and day services – for those that need it.”

The loan was provided from the Wales Flexible Investment Fund, which provides loans, mezzanine finance and equity investment for deals between £25,000 to £10 million, with terms of up to 15 years available.

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