West Midlands group set for expansion in 2020
Meredith Jones Russell
Wednesday, December 11, 2019
Bright Minds Daycare has secured a £750,000 funding package to pay for development plans.
The Birmingham-based nursery group has completed a debt finance deal with OakNorth Bank to fund refurbishment and working capital requirements, as well as purchase new equipment.
The business was co-founded by Birmingham based entrepreneurs Taj Heer and Talon Golding in 2017, and is backed by Guinness Asset Management.
It currently owns three settings, in Edgbaston, Jewellery Quarter and Edgbaston Priory, providing a combined total of 230 places.
The Jewellery Quarter setting, which officially opened at the end of March 2019, includes a performance room fitted with a grand piano, and an exploration room which enables children to explore state-of-the-art technology.
The group’s fourth site, scheduled to open in early 2020, will offer places for 100 children in Codsall, Wolverhampton.
Taj Heer and Talon Golding said, ‘We spoke to a few different banks about our funding requirements but chose OakNorth because this is clearly a sector they know well and enjoy working with. With OakNorth’s support, we’ll be able to continue expanding whilst ensuring that our two new sites meet the high-quality standards set by our first two nurseries.’
