3i celebrates Barchester’s win in battle for Westminster

Posted on September 1st, by editor in Caring Times. No Comments

A long-time Chelsea fan and two Irish Manchester United shareholders have hit the care transfer mar-ket with a massive Premier League purchase. Mike Parsons, founder of Barchester Healthcare, backed by multi-millionaires John Magnier and JP McManus, have bought Westminster Health Care for £525m. An additional football link was preserved north of the border, because Barchester’s other main shareholder is Dermot Desmond who part-owns Celtic, the Scottish football club. Westminster’s chief executive, Tony Heywood and chief operating officer lain Scott and other directors are reported to be “over the moon” about the more than £40m they are said to have netted from the purchase. However it is likely that they will reinvest some of those proceeds back into the new company. By contrast, buy-out specialist Charterhouse is reported to be “sick as a parrot” and Allianz Capital (which recently bought Four Seasons Healthcare for £775m) to be “gutted” after they failed to score. Also celebrating was private equity grou

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