Venture capital group 3i and Henderson Investment Management are backing a £7.8m management buy-in at Retirement Care Group, a sheltered housing operator based in Sevenoaks, Kent. As part of the deal, the new boardroom team of Brian Leader Cramer and Michael Kaufman will also acquire property managment group Roundville and a further 800 flats from a receiver.
Last year, 3i teamed up with NatWest to put £4m into retirement homes purchased by the Cedars Village group.
Retirement Care will own a total of 6,000 individual homes across 200 sheltered housing complexes across southern England.
And Nursing Home Properties, the specialist investment group headed by Richard Ellert which plans to invest in the residential care homes market (see “Finance”) has announced £43.5m of acquisitions. The company has agreed to buy freehold and long leasehold nursing homes, most of which have been purpose-built in the past five years, from four leading operators. The deals involve purchases of £10m from Ashbourne, £12.5m from Associated Nursing Services, £11m from Grampian Care and £10m from Tamaris.
