Liverpool care home under new ownership after £2m investment supports acquisition
Amberleigh House Care Home, in Aintree, Liverpool, is under the new ownership of Birmingham-based healthcare provider Armighorn Capital.
The deal was funded by a £2m funding package provided by Frontier Development Capital, also based in Birmingham, which includes funding for two more acquisitions.
This deal marks the latest in a round of acquisitions for Armighorn Capital, which currently operates five homes across the Midlands and West Yorkshire, successfully managing the care of approximately 350 elderly residents.
The newly-named ‘Abbey Wood Park Nursing Home’ is located next to Aintree Hospital and will soon be opened, following a full refurbishment programme that is currently under way.
Abbey Wood Park will be able to offer beds and services for up to 38 residents.
The funding package enables Armighorn Capital to complete two further care home acquisitions in the city.
The demand for care home beds is set to increase in the future, with the UK population over the age of 65 expected to rise from 10.6 million in 2010 to 16.1 million in 2035.
Navjot Singh, Armighorn Capital director, said: “Armighorn has a strong track record of reopening, and transforming care homes requiring improvement.
“Residents are our most important priority and that is why, when acquiring a new site, we work hard to not only make physical upgrades, but also assess and implement operational changes to raise service quality.
“We plan to apply the same principles to Abbey Wood Park, ensuring that existing and future residents receive the highest standard of care.
“This £2m funding line, in addition to the initial £3m investment received in 2019 from Frontier Development Capital’s growth capital team, enables Armighorn Capital to continue the delivery of our ambitious growth plans.”
Carl Perry, investment director at Frontier Development Capital, said: “We are delighted to provide further support to Armighorn Capital as it takes the next step in its growth journey.
“The business provides an outstanding level of care to residents, despite the current pandemic, and we are committed to working with Armighorn’s management team to help navigate the firm’s expansion, both organically and through acquisition.”
Sue Summer, chief executive at Frontier Development Capital, said: “FDC continues to invest across the UK during the pandemic and we expect businesses to require even greater support as we come out of lockdown and for the foreseeable future.”
Both Colin Rodrigues, of Hawkins Hatton Corporate Lawyers, and Philip Smith, of Semper Eximius Management, acted for Frontier Development Capital, providing legal and commercial due diligence, respectively.
