Headquartered in Croydon, Day Lewis has 195 local community pharmacies across the country, making it the UK’s largest independent pharmacy chain. The Group was founded by Kirit Patel in 1975 and remains a family-owned business today. Kirit is a highly respected member of the pharmacy community and has received an MBE in recognition of his service to the industry. Under Kirit’s leadership the business has developed an outstanding reputation in the market for customer service, quality of advice and its core purpose to help people in the community stay healthy and feel better.
Clearwater International’s team, led by Debt Advisor Partner Chris Smith and Healthcare Partner Andy Moore and supported by Senior Healthcare Analyst Ramesh Jassal, began working with the business in early 2011. The remit was to help management secure Day Lewis the most suitable banking partners and the most appropriate funding structure possible to achieve its medium term growth strategy. Early conversations with RBS, Day Lewis’ existing bankers, enabled an extension to current facilities to allow sufficient time to launch the correct refinance process for the business while also tidying up the company structure through a refinance of property assets.