Healthcare operator makes second acquisition in two months

Yannis Loucopoulos, chief executive of Tristone Capital

Healthcare provider Tristone has bought a specialist care home business as part of its acquisition strategy within the social care sector.

It has taken over Beyond Limits, which employs 130 people and operates specialist care homes mainly in the South West.

Tristone chief executive Yannis Loucopoulos said: “It has all the hallmarks of a business we love to invest in – one which is delivering outstanding care and support, has a great management team, clear opportunities for growth and strong financial fundamentals.

“Demand for services in the geographical areas in which Beyond Limits operates is extremely high and we will be supporting the management and staff teams to unlock sustainable growth and value and ultimately positively impact more lives.”

Manchester-based Tristone Healthcare, which is owned by Tristone Capital, provides specialist care to adults with severe mental, physical or learning disabilities; and care leavers, aged between 16 and 19.

The deal has been backed by a £2.3m investment from Duke Royalty, increasing Duke’s total investment into Tristone to £14.4m.

Last December Tristone and Duke agreed a partnership that would see Duke invest up to £20m while taking a 17.5% stake in the business.

They were targeting a “growing pipeline of bolt-on transactions”, which has already resulted in the acquisition last month of a specialist care home in Essex, Seaside Care Homes, supported by £1.5m from Duke.

Neil Johnson, chief executive of Duke Royalty, said: “It’s pleasing to see Tristone executing on its ‘buy-and-build’ strategy using our capital. Once again, the company has sourced and acquired a target that shares both an existing culture of providing the highest quality of care, with the opportunity for further growth and betterment.”

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