Four Seasons administrators, Alvarez & Marsal Europe LLP, have announced the conditional sale of part of The Huntercombe Group (THG) business to healthcare specialist firm Montreux Capital Management (MCM).
The £35m deal covers certain THG sites and is expected to be completed, subject to regulatory approval, in Q1 2021.
A statement on Four Seasons website, said the deal represented a “key milestone in the Group’s ongoing restructuring process”.
THG provides hospital and residential care for young people and adults with mental illness, brain injuries which require rehabilitation or ongoing neurological care, or who have learning disabilities or physical disabilities.
MCM focuses specifically on the UK specialist care market and has a strong track record of UK specialist care investments, such as its investment in Active Care Group, which supports over 2,000 patients across 60 locations in England, Scotland and Wales.
The deal follows the launch of the sale of Four Seasons’ Northern Ireland care home portfolio last month.
Four Seasons’ said administrators continued to explore all possible options for the remainder of the Group’s organisational and capital structure, including the potential portfolio sale of parts of the care home business.