West Midlands based healthcare provider Armighorn Capital has acquired Amberleigh House Care Home in Aintree, Liverpool.
The acquisition of the home, which has renamed Abbey Wood Nursing Home, was made possible by a £2m funding package provided by Frontier Development Capital, which includes funding for two more acquisitions.
Navjot Singh, Director at Armighorn Capital Ltd, said: “Armighorn has a strong track record of reopening, and transforming care homes requiring improvement. Residents are our most important priority and that is why when acquiring a new site, we work hard to not only to make physical upgrades, but also assess and implement operational changes to raise service quality.
“We plan to apply the same principles to Abbey Wood Park, ensuring that existing and future residents receive the highest standard of care.
“This £2million funding line, in addition to the initial £3million investment received in 2019 from Frontier Development Capital’s growth capital team, enables Armighorn Capital to continue the delivery of our ambitious growth plans.”
This deal marks the latest in a round of acquisitions for Armighorn Capital, which currently operates five homes across the Midlands and West Yorkshire, caring for approximately 350 elderly residents.
Abbey Wood Nursing, which will open soon following refurbishment, will provide beds and services for up to 38 residents.
Sue Summer, Chief Executive at Frontier Development Capital, said: “FDC continues to invest across the UK during the pandemic, and we expect businesses to require even greater support as we come out of lockdown and for the foreseeable future. We welcome a dialogue with any UK company seeking a flexible funding package irrespective of the apparent impact that COVID-19 has brought.”
Colin Rodrigues of Hawkins Hatton Corporate Lawyers, and Philip Smith of Semper Eximius Management, provided legal and commercial due diligence, respectively for Frontier Development Capital.