Anchor adds 11 care homes with £59m acquisition

Not-for-profit care and housing provider Anchor has added 11 care homes to its portfolio with a £59.09 million deal to acquire the business and assets of Halcyon Care Homes Topco Ltd (HC Topco). The acquisition will bring Anchor’s total estate to 125 care homes.

The 11 properties, located across the South of England and East Midlands, are purpose-built residential care homes, with two still under development. One property is being acquired on a freelance basis, while the remaining homes are leased from two institutional landlords, with annual rent of around £8 million.

The transaction, which is expected to close in Autumn 2022 following the CQC transfer of registration, is Anchor’s first major acquisition in several years, following the takeover of five Hadrian Healthcare Group homes in 2019 and a deal for 24 LNT Group properties in 2015.

Anchor says that the acquisition forms part of its Business Plan, through which it is aiming to grow the size and quality of its estate of care homes for older people. The deal comes amid considerable M&A activity in the UK care home sector, following the upheaval caused by the COVID-19 pandemic.

Commenting on the acquisition, Anchor’s Chief Financial Officer Sarah Jones said: "Our Business Plan sets out a clear growth strategy and these homes represent an excellent opportunity for us to provide more and better homes where people love living in later life.”

"The homes will broaden our provision of care and extend our presence into more areas of the country. We'll be able to draw on and share best practice across these homes and the wider Anchor care home estate.”

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