A regional care home operator has expanded with a double swoop.
Maven Healthcare has acquired purpose-built sites in Lincolnshire and Scotland from Priory Group in deals brokered by specialist business property adviser Montane Care. Financial terms of the deals are undisclosed.
The acquired properties are Abbey Court Care Home in Bourne, Lincolnshire, and Avondale Care Home in Motherwell. They take the number of care homes in London-headquartered Maven’s portfolio to 15.
Abbey Court provides dementia, nursing, residential, respite and palliative care and can accommodate up to 88 residents.
Avondale, which has 55 rooms, provides dementia, nursing, convalescent, respite, palliative and end-of-life care. The homes employ more than 130 staff in total.
Montane Care is part of the Montane group of businesses, which has its headquarters in Buxton, Derbyshire, and an office in Chorley, Lancashire.
The group includes Montane Finance, an award-winning, independent finance broker for the hospitality and healthcare sectors, and Montane Insurance, a boutique commercial broker for the hospitality and healthcare sectors.
Montane Finance’s Scott Murcott acted for Maven to secure funding for the acquisitions.
Anthony Rae, director of Montane Care, said: “The purpose-built homes have been a cornerstone of their local communities, providing high-quality nursing and residential care for elderly residents with a wide range of needs.
“Under the experienced ownership of the Priory, the homes both earned a reputation for their compassionate approach, committed staff and consistently high standards of compliance. These qualities, combined with their trusted standing in the local areas, made Abbey Court and Avondale Care Home an attractive acquisition opportunity for the right buyer.
“Through a confidential and discreet marketing process, we generated interest from multiple potential acquirers before selecting the most suitable funded buyer.”
Priory Group has begun to divest of a number of older people care homes, and earlier this year Montane Care brokered the sale of its Cooper House property in Bradford to Strong Life Care.
Rebekah Creswell, chief executive of Priory Group, said: “The Montane Care team, led by Anthony Rae, presented well as knowledgeable agents in the social care space and have provided valuable and responsive input during the last 12 months.
“Anthony’s connections within the sector and ability to connect buyer and seller, both initially and during the due diligence and execution phases of transactions, have been particularly impressive.”
A spokesman for Maven Healthcare said: “We are very excited to add Abbey Court and Avondale Care Home to our portfolio and are looking forward to continuing the excellent level of care delivered on a day-to-day basis to the residents.
“We can’t thank Scott Murcott enough for his professional diligence and support during the acquisition process. We would certainly work with Montane Care again for any future acquisitions.”
Image depicts Abbey Court Care Home.