One of the largest care homes on the Welsh borders has been acquired by RD Capital Partners (RDCP Care) in a leveraged buyout deal supported by a seven-figure funding package.
The 49-bed state-of-the-art purpose-built facility, St Nicholas House, which has been purchased from its previous owners, Roger and Sheila Hill, will retain its body of staff following the RDCP Care buy-out, in partnership with the Allied Irish Bank.
St Nicholas House is RDCP Care’s second care home acquisition this year after completing the purchase of Kings Bromley Care Home in Staffordshire, its flagship care home in the Midlands.
Sameer Rizvi, managing partner of RD Capital Partners LLP said: “Since completing our first acquisition earlier this year, we have been focused on expanding our portfolio in the Midlands and Wales, seeking appropriate opportunities. St Nicholas House has proven to be an excellent addition. It is a beautiful purpose-built nursing home that is very well managed, profitable and has a reputation for providing quality nursing and residential care.”
The home was established as a residential care home for the elderly in 1986, and in 2010, the nursing home was extended to provide nursing and residential services for 49 persons and was restructured to become a fully purpose-built nursing home.
The home has four lounges, of which two are dining rooms, along with a hairdressing salon. As one of the premier healthcare businesses in Wales, the nursing home is often presented to health ministers and other government professionals as a testament to the high quality of care available in Wales.
RDCP Care is the care home management arm and subsidiary of London based investment firm, RD Capital Partners LLP.
RDCP Care, as the group’s enterprise value (EV), has now risen above £10 million and the number of employees is now over 130.
Rizvi added: “RDCP Care’s mission for the year was to reach the £10 million group enterprise value milestone. We set out to achieve this via three or four acquisitions.
“However, with strategic input from David Booth at Allied Irish Bank (GB), we honed our strategy towards surpassing £10 million but with much larger, fully purpose-built healthcare businesses.”
David Booth, relationship manager at Allied Irish Bank (GB), added: “RDCP Care has strengthened its care home portfolio with this latest acquisition and I am delighted to assist them with this purchase. Sameer and Iryna have great vision and understanding of the sector and I look forward to supporting them with their future growth strategy.”
