Investors acquire nursing home in seven-figure deal
A Staffordshire nursing home has been acquired by a private equity investor in a leveraged buyout deal supported by a seven-figure funding package.
The deal has seen RDCP Care, the care home management arm and subsidiary of London-based investment firm RD Capital Partners, acquire Kings Bromley Nursing Home, near Lichfield.
The funding package was provided by Allied Irish Bank (GB).
The 55-bedroom facility has been purchased from its previous owners Embrace Care Group and will become RDCP Care’s flagship nursing home.
Kings Bromley Nursing Home provides specialist residential, nursing, palliative, dementia and physical disability care for older people. Despite the change in ownership, no changes to staff will be made.
The new owners do however, plan to make a range of aesthetic improvements to the facility including redecorating and refurbishing the property.
Established in July 2015 by Sameer Rizvi and Iryna Dubylovska, Kings Bromley marks RD Care’s first nursing home acquisition of 2017, with a deal pipeline to acquire at least two further care homes this year.
Sameer Rizvi, managing partner of RD Capital Partners said: “As an investment firm, our main focus is buying out and managing care homes and nursing homes across the UK.
“Over the next decade or so, we see a number of investment opportunities that will allow us to provide top returns for RDCP partners and investors.
“We are very pleased that our acquisition of Kings Bromley Nursing Home has been a success. This is precisely the type of care home we look for: ‘Good’ CQC rating, stellar financial performance, largely purpose-built and run by a top management team.
David Booth, relationship manager at Allied Irish Bank, developed the funding package to enable the deal to go ahead.
He said: “I am delighted to be working with Sameer and Iryna and supporting their development of RD Capital Partners and RDCP Care. I have been very impressed with their growth plans and look forward to working with them going forward.”
Kuits Solicitors’ corporate senior associate Jan Winstanley led the funding transaction for Allied Irish Bank (GB) supported by associate Helen Mather and solicitor Ryan Brown, while real estate finance partner David Marlor advised on the property-related matters, along with banking solicitor Alexander Dickinson.
Hempsons Solicitors’ partner Faisal Dhalla led the transaction for RD Capital Partners on the corporate side, supported by partner Michael Dulhanty on property-related matters. Hazlewoods partners Andy Brookes and David Main, along with senior manager Richard Pitt, provided financial and tax advice to the RDCP team.
