The largest residential home in North Wales has been acquired by its existing management.
Registered manager Ruth Waltho and husband David bought St David’s Residential Care Home in Rhyl in a seven figure deal funded by Allied Irish Bank (GB).
Ruth said: “I am thrilled that our acquisition of St David’s has been successful. I have managed the home for four years now and know the business and our residents extremely well.
“We are planning to make some real improvements to the property for the benefit of our residents, improving the look and feel of their general surroundings and creating a new cinema room for them to enjoy.
“David Booth and the team from Allied Irish Bank (GB) have been a real support to us throughout the acquisition process and we have enjoyed working alongside them. The funding deal enabled us to make the purchase but their experience and guidance of acquisitions has also been incredibly beneficial.”
St David’s provides 24 hour care for up to 52 elderly residents. Many of its 48 bedrooms have en suite facilities, with three suitable for dual occupancy.
David Booth, relationship manager at Allied Irish Bank (GB), said: “I am pleased that we have been able to support Ruth and David with their acquisition of St David’s Residential Home. Given Ruth’s long term involvement with the business and experience in the care sector it made perfect sense for them to buy the business. We wish them the very best success for the future.”