Turnaround of Foundation Merinos, providing nursing care, residential care and home care
Foundation Merinos is a provider of nursing, residential, home and day care. It was facing liquidity problems mainly due to its loss making home care activities. Beaufort has identified the future scenarios accompanied with sound financial projections. Based on our advice, the board decided to cease its home care operations and to execute a partial divestment of its real estate portfolio to generate sufficient cash for the remaining operations of the organisation. These measures have resulted in cash and profit generating operations of the remaining organisation. This provided the bank with sufficient comfort and a refinancing of the outstanding debt position was executed.
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