18 Feb 2019
A Glasgow businesswoman has become the new owner of a Renfrew nursery business, thanks to a funding package from Barclays.
Mandie McCutcheon has secured a funding package of more than £500,000 from Barclays, allowing her to purchase the 3 Bears Nursery in Renfrew, which caters for almost 200 children aged 6 weeks to 9 years.
While new to the education sector, Mandie brings extensive professional experience in PR, marketing and customer service to help manager her new venture. Future plans for the business include upgrading facilities and resources including internal and external refurbishment of the premises, improving transport with a new minibus and introducing new technology to improve both the children’s and parents’ experiences.
The3 Bears Nursery, on the site of a former church, has been operating for 22 years. By retaining the entire current team of employees, Mandie expects to see its run of exemplary inspection grades continue.
The deal was led by Tom Every, Business Manager at Barclays.
Mandie McCutcheon, owner and CEO of 3 Bears Nursery commented: “The team at Barclays has been a great support throughout the purchase process and I’ve been impressed with their personal approach and the efforts made to get to know the business, viewing it from a long-term and strategic perspective.
“I’m proud and excited to take the reins of 3 Bears and feel very confident and optimistic about the future. Keeping the same talented and hardworking team, who I get on very well with, will mean a great deal for both the parents and children who use the nursery.
“Working closely with Renfrewshire Council, we hope to secure the position as the education employer of choice in the area, both through improving the current team’s skills and experience and creating further employment opportunities.”
Stuart Brown, Head of SME Scotland at Barclays, said: “As new owner, Mandie has a clear vision for the future of the nursery and we’re pleased to have been able to assist with both the business purchase and day-to-day banking process.”
“The education sector is becoming a key focus for our Business Banking team in Scotland and our growing expertise, plus the track record of client success, allow us to offer effective solutions for businesses at all stages.”
The deal is the latest in a number of funding packages Barclays has delivered for the early years education sector.