Hartford Care has been purchased by Foundation Partners Asset Management and Deer Capital for over £100m.
The transaction represents the joint venture’s first acquisition in the UK care home sector.
Hartford Care’s portfolio comprises 20 care homes spanning 774 bedrooms, with an additional 156 bedrooms to be incorporated over the next 12 months.
The sale is understood to provide capital to execute on Hartford Care’s expansion strategy, with plans to double in size by 2026. Its existing portfolio consists of 20 homes in Bristol, Burnham, Sidmouth, Downton and Swindon.
Hartford Care chief executive Kevin Shaw said: “As well as enabling the continued growth of Hartford Care, our new partnership with Foundation Partners and Deer Capital is strongly aligned with our ethos of investing in innovation and creating a ‘home from home’ setting.
“We can move forward in growing the Hartford Care brand to create new caring communities that are kind and welcoming of everyone.”
Julian Evans, partner for healthcare consultancy at Knight Frank, which advised Hartford, said: “This is one of the largest wholeco care home transactions within the last 18 months, and we are pleased to report, that sector activity has significantly picked up over the last quarter.”
Photo © Knight Frank
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