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Four Seasons could be sold for as little as £400m, report

Four Seasons

Leading care home provider Four Seasons could be sold for as little as £400m, according to a press report.

The FT reported that Four Seasons, which has attracted a number of bids, could be sold for £400m-£600m, potentially less than half the £825m the business was sold for seven years ago.

Bidders are believed to include H2 Capital Partners, the company’s largest creditor, asset management and investment company, Cheyne Capital, US-based Davidson Kempner Capital Management and property investor, Roundhill Capital.

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The speculation comes as efforts to sell fellow leading care home operators, Barchester Healthcare, Care UK and HC-One have reportedly failed.

Julian Evans, Head of Healthcare at Knight Frank, said Four Seasons represented a “significant turnaround opportunity”.

The sale excludes 24 more profitable homes, which are owned by Terra Firma and are believed to be on the market for around £200m.

Property investor Patron Capital Partners and Renaissance Care, which is owned by Four Seasons founder Robert Kilgour, are believed to be interested in the 24 homes.

The Four Seasons sale is being handled by BDO. Administrator Alvarez & Marsal has said it is hoping to have a deal by the end of the year.

A spokesperson for Four Seasons Health Care Group said: “We are very encouraged by the levels of interest and active engagement from bidders and reiterate that nothing has changed in terms of our aim that the process achieves a whole group solution.  In the meantime, our highly professional colleagues continue to work hard to provide their usual quality care across our homes and hospitals.”

Tags : AcquisitionFinanceFour Seasons
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The author Lee Peart

2 Comments

  1. Relitives of residents are not receiving any updates on what is happening and its really worrying as many residents have extreme complex needs and a move would be a lengthy process.

  2. I’m sorry to hear that residents and families are not being informed but I can also tell you that the staff are not being told either it is all guess work . This is most embarrassing when asked.
    Also staff are panicking and leaving there jobs which they love because there is no trust and the feeling of stability has gone as like most of us we have family’s outside our work family to support.
    If the big people could remember with out the staff working the floor ( the little people ) then not only would the big people not have their big wedge packets or company cars but there would be no four seasons health care .
    So for staff and families to be kept in tge picture would just show us all that little bit of respect we all deserve and stop us loosing fantastic staff.

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