Private equity firm, Terra Firma, completes acquisition of Four Seasons Health Care

Terra Firma, a leading private equity firm, has completed its acquisition of Four Seasons Health Care Group, the UK’s largest independent elderly and specialist care provider.

The company has been bought for £825m, and is being financed through a mixture of equity and new debt, with the debt being arranged by Goldman Sachs and Barclays.

Guy Hands, chairman and chief investment officer of Terra Firma, said: “Four Seasons’ debt has been very substantially reduced, bringing stability to the company. Terra Firma is committed to further investment in the business to achieve long-term sustainable growth.

“Our number one priority is to ensure that Four Seasons delivers consistent high-quality care and peace of mind for residents, service users and their families. With a stable capital structure and clear ownership, Four Seasons will be able to lead the sector in terms of quality of service.”

Four Seasons operates 445 care homes, with 22,364 beds, and 61 specialist care centres, with 1,601 beds.

It employs more than 30,000 staff caring for more than 20,000 residents.