Carey Olsen advises Ulster Bank

Posted: 08/08/2019

Carey Olsen has advised Ulster Bank on the debt financing made available to Waterland Private Equity to facilitate its investment in the Silver Stream Heath Care Group.

Silver Stream is one of the largest independent providers of residential care for older people in Ireland and provides long-term and respite residential and nursing care.

The Waterland investment was made through an off-market primary transaction that will support plans to create the largest independent provider of residential care for older people in Ireland.

Waterland was supported by external debt financing provided by Ulster Bank. The financing package has been structured to allow for the acquisition of other high-quality single care homes and small groups in Ireland.

Working alongside McCann Fitzgerald, lead legal adviser to Ulster Bank in Ireland, the Carey Olsen team in Jersey was led by Partner Kate Andrews, assisted by Counsel Michael Evans and Associates Nick Ghazi and Stephen Le Cornu.


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