Thu, 29 Jun 2023 | BUSINESS SALE
Care home group BN Care has continued its acquisitive growth, purchasing a fifth care home after securing a £4 million joint finance package from HSBC UK and BGF. The financing has enabled the group to expand its presence in the South West of England, acquiring Exeter facility Barton Place Nursing Home.
Barton Place specialises in caring for higher needs people and is currently home to 41 residents. The home’s residents have serious mental conditions that require specialist personal care, including dementia.
BN Care was founded in 2017 and has grown to now have five UK care homes, with its other facilities being Hay House and The Dales in Exeter, Bymead House in Dorset and St Vincent’s in Sussex. The group is aiming to reach at least 10 homes.
BN Care owner Wade Newmark said that Barton Place was “an important addition to our long-term goal of building a group that provides high-quality care to higher needs residents”, adding that, along with Hay House, the new home meant that BN was the South West’s leading provider for dementia and special individual needs care. He also added that the group was already in discussions over acquiring a sixth site.
BGF investor Chris Jones said that the deal was in line with BN Care’s “acquisitive growth strategy”. Jones added that BGF would continue to support the group as it looked to “grow its portfolio of homes which will provide the top-class professional care that more and more people across the South West of England require.”
Read more about some of the factors driving a busy period of dealmaking in the UK care homes market
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