November 16, 2019 Finance

Brighterkind close to being acquired by Barchester


It has been reported on a number of news websites that a portfolio of two dozen care homes that were at the centre of a legal battle involving the financier Guy Hands is on the brink of being sold for £160m. The 24 sites, which are owned by Guy Hands’ Terra Firma Capital Partners, are close to being acquired by Barchester Healthcare.

A deal, which has been in the works for several months, could be signed within days, according to insiders. If confirmed,  the transaction will add the homes to Barchester’s 200-strong estate, which collectively employ about 17,000 people and look after 11,000 residents.
Barchester itself was in the process of being sold earlier this year for up to £2.5bn to the Australian investor Macquarie before the deal fell over amid concerns about the impact of a potential no-deal Brexit.

The business is currently owned by Dermot Desmond, JP McManus and John Magnier, a trio of wealthy Irish businessmen who have historically been prolific investors in companies including Manchester United FC.

Barchester’s takeover of the 24 care homes owned by Terra Firma, which largely trade under the name Brighterkind, will add a further 1500 mainly privately funded residents to its portfolio.
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