November 7, 2019 Finance

Allegra Care completes acquisition of Somerset care home

Allegra Care has acquired St George’s Nursing home in Weston-Super-Mare in a deal supported by a seven figure funding package structured by Allied Irish Bank (GB).

Located in Weston-Super-Mare, St. George’s Nursing Home is a purpose-built, 66-bed home providing elderly care with nursing and day care. The home opened in 2012 and provides accommodation over two floors, surrounding a beautiful central garden. There is a cinema room, hairdressing salon and nail bar, reading room, and several other lounge areas.

Established in 2018, London based Allegra Care is part of DGS Capital Partners group of companies and sister company to the Assisted Living business Amicala. The business recently entered the UK care home market, with the acquisition of St George’s Nursing Home being the company’s first. The management team, led by CEO Helen Jones, has over 40 years combined experience in the development and operation of care homes as well as 30 years’ experience in mergers and acquisitions.

Helen Jones, CEO at Allegra Care explains: “I am delighted to complete our first acquisition and would like to thank Denis and Ben at Allied Irish Bank (GB) for providing the funding which has helped us to get started and grow our business. St George’s Nursing Home is a beautiful home and we are absolutely delighted to work with all our new colleagues. We already have plans to provide additional services with the provision of specialist dementia care. We will also be incorporating wellbeing strategies as part of the DGS group’s fundamental commitment to wellbeing. In addition, we have already commenced the development strategies for our site colleagues, building on the existing capability to provide personal and career growth for team members.”

Helen continues: “The excellent leadership team and care provision provided at St George’s Nursing Home really impressed us and we are actively looking for further acquisition opportunities of the same high standards as St George’s Nursing Home to enhance our services in the UK.”

Denis Knockton, Head of Healthcare London and South at Allied Irish Bank (GB) added: “The management team at Allegra Care is extremely strong with extensive experience in the care sector. They have demonstrated a very clear understanding of the sector and their aspirations to expand further, with the acquisition of St George’s Nursing Home considered to be the first of many acquisitions. We are delighted to support the team during this very exciting time.”

Legal support for the transaction was provided by EMW Law LLP to Allied Irish Bank (GB). Banking facilities were provided by Denis Knockton and Ben Littlefield at Allied Irish Bank (GB).

*The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trademarks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland. Registered Office: 92 Ann Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

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