Maven expands with double care home deal

A regional care operator has grown its portfolio with two new acquisitions.

Maven Healthcare has purchased purpose-built care homes in Lincolnshire and Scotland from Priory Group, in deals brokered by Montane Care. 

Financial terms of the transactions were not disclosed.

The acquisitions, which increase Maven’s total care home portfolio to 15, include Abbey Court Care Home, in Bourne, Lincolnshire, as well as Avondale Care Home, in Motherwell. 

Abbey Court accommodates up to 88 residents and provides dementia, nursing, residential, respite and palliative care, while Avondale has 55 rooms offering dementia, nursing, convalescent, respite, palliative and end-of-life care. 

Together, the homes employ more than 130 staff.

A spokesperson for Maven Healthcare said: “We are very excited to add Abbey Court and Avondale Care Home to our portfolio and are looking forward to continuing the excellent level of care delivered on a day-to-day basis to the residents.”

Buxton-headquartered Montane Care, part of the Montane Group, facilitated the deals, with Montane Finance’s Scott Murcott acting on behalf of Maven to secure funding for the acquisitions.

Anthony Rae, director of Montane Care, said: “The purpose-built homes have been a cornerstone of their local communities, providing high-quality nursing and residential care for elderly residents with a wide range of needs.

“Under the experienced ownership of the Priory, the homes both earned a reputation for their compassionate approach, committed staff and consistently high standards of compliance. 

“These qualities, combined with their trusted standing in the local areas, made Abbey Court and Avondale Care Home an attractive acquisition opportunity for the right buyer.

“Through a confidential and discreet marketing process, we generated interest from multiple potential acquirers before selecting the most suitable funded buyer.”

The transactions follow Priory Group’s ongoing divestment of older people care homes, including the earlier sale of Cooper House, in Bradford.

Rebekah Creswell, chief executive of Priory Group, said: “The Montane Care team, led by Anthony Rae, presented well as knowledgeable agents in the social care space and have 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.”

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