August Equity LLP ("August Equity") is pleased to announce that its portfolio company Healthcare Homes Group ("HHG") has acquired Manorcourt Care Limited ("Manorcourt"), a privately owned care and nursing home group based in Norfolk. The acquisition is the eighth successful acquisition made by HHG since August Equity's investment in the company in 2005.
Manorcourt provides HHG with an additional 87 registered care beds. HHG has pursued a successful buy-and-build strategy since inception and now operates over 900 beds across 21 homes making it the largest care home provider in East Anglia.
Manorcourt is a complete care service organisation which offers both residential care and a full range of care services for those in the community including, domiciliary care and a day centre. It operates three homes situated in rural locations in North West Norfolk.
HHG is run by three highly experienced directors who have proven track records in the health care industry, having been responsible for building and running Care UK: Richard Clough, CEO, Graham Lomer, finance, and David Bates, operations. The non-executive chairman is Charles Auld, a well established name in the industry, who was formerly CEO of General Healthcare Group.
Commenting on the acquisition, Philip Rattle, partner at August Equity, said: "The investment in Manorcourt follows HHG's buy-and-build growth plans and our aim to build the company to become a leading regional care provider with a particular focus on quality care for the elderly and mentally infirm. This acquisition highlights the growth opportunities in the healthcare service industry at the moment."
Richard Clough added: "This acquisition reflects our long-term buy-and-build plan for a strong and sustainable regionally-based healthcare group."