Waterland backs Silver Stream Health Care Group
Silver Stream Health Care Group, a provider of residential care for older people, has secured investment from Waterland Private Equity.
Headquartered in Ratoath and caring for 357 residents, Silver Stream operates seven HIQA Registered care homes in Dublin, Wicklow, Meath and Tipperary. Locations include Leeson Park, Clontarf, Santry, Ratoath, Dunlavin, Inchicore and Nenagh.
Waterland will pursue a buy and build strategy to acquire high quality single sites and small groups in Greater Dublin and the surrounding area.
The investment will also be used to enhance the existing Silver Stream portfolio through a combination of refurbishment and capacity expansions. New build development locations are also under consideration with sites already identified.
Waterland has experience in residential care homes for older people across Europe.
The Waterland team was led by Dominic Graham and Anthony Demaerel with support from James Young.
Andy Scaife, head of Waterland Private Equity for UK and Ireland, said: “Residential care is absolutely vital to society and our investment will go some way to supporting the evolving needs of residents and their families across Ireland.
“The investment creates a solid foundation for our ambition to create a market leader for care quality in Ireland.”
Healthcare industry specialist Kevin Beary has been appointed as chief executive of the group to support the existing leadership team. Beary has 30 years’ experience working across banking, corporate finance and real estate sectors, with specific expertise in healthcare having acquired or developed care homes and greenfield sites, independent and assisted living villages as well as primary care centres.
He will support the founders and existing leadership team, including chief operating officer Michelle Walsh, who has been with Silver Stream for 12 years.