Barchester Healthcare buys 24 brighterkind care homes

Barchester Healthcare has acquired 24 brighterkind care homes from private equity giant Terra Firma.

Barchester has more than 12,000 beds and looks after 11,000 residents and the purchase will see 1,570 extra beds added to the care group's portfolio.

Property advisor Knight Frank is now advising Terra Firma on the sale.

Barchester Healthcare currently has a 200-strong estate of care services with nursing homes, domiciliary care and six private hospitals.

Private equity firm Terra Firma acquired Four Seasons Health Care in a £825m deal in 2012. Terra Firma bought the care homes in 2013 from Avery Healthcare.

brighterkind is a stand-alone business that is part of the Four Seasons Health Care Group.

In a statement, Barchester Healthcare group stated: ‘These homes sit outside the main Four Seasons high yield bond group and represent an exciting growth opportunity for Barchester.'

Dr Pete Calveley, chief executive of Barchester Healthcare said: “We are delighted to have the opportunity to acquire these 24 homes from Terra Firma, and look forward to welcoming staff, residents and relatives to the Barchester family.”

In total, 67 care homes across the UK operate under the brighterkind brand.

A spokesman for brighterkind told carehome.co.uk: "The operational transition will be completed in the new year and until then the homes will continue to be operated by brighterkind.

"We will work with Barchester Healthcare to ensure a smooth transition. This announcement will not affect the remaining homes in the brighterkind group, which will continue to operate as normal.”

The acquisition was made for an undisclosed sum.

The deal is reported to be worth over £160m. Barchester's revenue reached £621.3m in the year ended 31 December 2018 (2017: £591.2m), up by 5.1per cent

The aggregate enterprise value of Terra Firma’s investments total more than 48 billion euros. A Terra Firma spokesperson said: ‘We are delighted to have agreed the sale of 24 brighterkind homes to Barchester.

'Barchester is one of the most established owners of care homes in the UK and we are confident there will be a smooth transition to a new long-term owners who can provide continuity of services and care.’

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