Thu, 13 Apr 2023 | BUSINESS NEWS
North East-based care provider Hark Group Holdings has said it is seeking to continue to grow through acquisitions as it capitalises on fragmentation in the UK care sector. Over the last year, acquisitions have helped the company to treble in size.
In the past 12 months, the firm has acquired the business and assets of Sunderland care home Cedar House, as well as the entire issued share capital of Thorncliffe Care Limited, which operates the Thorncliffe House care home in Sunderland (pictured above).
Hark Group worked with Mincoff Solicitors and accountancy and business advisory Azets on the deals, with funding provided by Allica Bank. The group’s leadership says it is aiming to work with both Mincoff and Azets on future M&A deals.
Hardip Kang, director and owner of the Hark Group, who founded the company with his wife Rupinder Kang, commented: "Our expansion and growth this past year was greatly assisted with the knowledge, experience and eye for detail from Chris Hughes and all the team at Mincoffs.”
"It's the kind of reassurance a growing business needs when trying to achieve their growth targets. Lee Humble and the team at Azets provided me with the financial advice and assistance to accelerate the momentum needed to get the deal over the line. I look forward to working with both again for any possible future acquisitions."
Mincoff Solicitors Corporate Partner Chris Hughes said: "It has been fantastic to work closely with both Hardip and the team at Hark and with Lee and the team at Azets to deliver Hark Group Holding’s vision for the North East care sector.”
"Thorncliffe House and Cedar House Care Home are fantastic additions to Hark's portfolio and it has been a pleasure to assist the group in acquiring these two business, so it can continue to provide essential, top quality, care across the region."
Azets Corporate Finance Partner Lee Humble added: "It has been a pleasure to work with such a strong team with a compelling growth vision. I am excited to see what the future holds for the Group, and we are delighted to be part of their journey.”
Fragmentation and a large number of owner exits since the COVID-19 pandemic have driven a boom in dealmaking in the care sector and Lee Humble observed: "The sector is extremely active at present, and we are always keen to help facilitate transactions for businesses like Hark."
Find businesses for sale here.
If you are looking for an exit, we can help!
Download the free comprehensive guide to buying a care home in the UK
See our current listings of care home businesses for sale
Established over 10 years with database of over 6000 clients, three storey 1,700 sq.ft high street unit net profit on accounts £150,000 – only trading 5 days a week.
This East Midlands-based company specialises in non-emergency patient transport, transferring NHS patients to and from hospitals, care homes and private properties. The company operates 24 hours a day, 365 days a year, and provides UK-wide coverage.
A health clinic specialising in skincare and dermatology that can boast a diverse client base and consistent growth since the company was founded in 2011.
Private equity and venture capital investors are moving cash into...
Not all sectors receive the same level of interest from business buyers...
The private healthcare industry is growing fast and, with it, an...
Buy a care or nursing home out of administration, at lower than market-valued prices. Enquire about assets that may be a result of a business falling into distress.Search administration listings
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
B2B Online & Mail Order Specialist Distributor
Location: South of England
Want your business
to appear here?
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.