Ridgmont completes nursing homes deal

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

Funds managed by Graphite Capital have backed the £16 million secondary buyout of Ridgmont Care Homes from Cinven. Ridgmont Care Homes was formed in 1995 by Roger Storey, previously managing director of Associated Nursing Services plc. Since then, Ridgmont has grown its national portfolio of residential and nursing care homes to 19. Roger Storey will continue as managing director with chief executive of Vision Capital Julian Mash. Vision Capital initiated the transaction and was corporate finance advisor for the deal. Debt Facilities were provided by Fortis Bank. Ridgmont now intends to grow both organically and by further acquisition of nursing homes. “Ridgmont¹s portfolio of nursing and residential homes has performed well in the very difficult market environment in recent years, thanks to our managers and staff and the quality of the care they provide,” Mr Storey said. “This investment by Graphite Capital and the additional resources it has committed will allow the company to resume its expansion path th

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