Care home company expands portfolio with seven-figure deal
Buxton-based Montane Care has brokered the sale of Cooper House care home in Bradford on behalf of Priory Group.
The buyer, Strong Life Care, a Wakefield-based care provider, secured the property for a seven-figure sum with funding from NatWest.
Cooper House is a purpose-built facility with 80 en-suite bedrooms and wet rooms and has been offering nursing, residential, dementia and respite care since 2009.
The home, which employs 140 staff, becomes the latest addition to Strong Life’s portfolio.
Montane Care, which specialises in the sale and acquisition of care homes and childcare facilities across the UK, is part of the Montane group of businesses, headquartered in Buxton, Derbyshire.
The group also includes Montane Finance, an independent finance broker for the hospitality and healthcare sectors, and Montane Insurance, a boutique commercial broker for the same industries.
Montane Care director Anthony Rae said: “We generated strong interest from multiple acquirers and it was a pleasure to achieve a quick sale by selecting an existing operator with proven funding. The demand for care homes remains strong and we continue to receive interest from companies and individuals seeking to acquire in the sector. Our proven ability to act swiftly and target the right buyers puts us in a strong position as we continue to grow our pipeline of transactions.”
Strong Life Care was founded by Harpreet Banwait and now operates eight care homes, with recent acquisitions in Armthorpe, Ferryhill, and Hessle.
With 500 beds and 560 staff, Banwait aims to double the company’s size within the next 12 to 18 months, with further acquisitions planned in the North East and an expansion into the North West.
Priory Group chief executive Rebekah Cresswell said: “We are grateful to Montane Care for its support during our ongoing project to divest of several older people care homes. The team, led by Anthony Rae, presented well as knowledgeable agents in the social care space and provided valuable and responsive input during the last 12 months.
“Anthony’s connections within the sector and ability to connect buyer and seller, both initially and during the due diligence and execution phases of transactions, have been particularly impressive. We look forward to a continued close working relationship and a successful close to the project.”
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