Craegmoor¹s new owners plan continued growth

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

Legal & General Ventures (LGV), one of Europe’s leading private equity firms, has acquired Craegmoor Healthcare Group from its existing shareholders, principally Warburg Pincus. The price of the transaction has not been disclosed. Debt facilities have been provided by Mithras Investment Trust plc and RBS Mezzanine Ltd to finance part of the acquisition. Craegmoor is one of the UK¹s major providers of residential, nursing and specialist care with 203 homes nationwide, providing care for more than 4,800 residents. In November 2000, Craegmoor raised £110.5 million through a securitisation arranged by Barclays Capital. This facility will remain in place under the company¹s new ownership. Craegmoor also has acquisition finance facilities from Barclays Bank plc. Craegmoor was formed in 1994 through the buy-out of the London Parkcare Group. Since then, it has expanded rapidly through the acquisition of a mixture of single care homes and corporate operators. Its homes are spread across the UK with a strong presenc

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