Kings Bromley Nursing Home in Burton-On-Trent, Staffordshire, has been acquired by RD Capital Partners (RDCP Care Limited) in a leveraged buyout deal supported by a seven figure funding package structured by Allied Irish Bank (GB).
The 55-bedroom facility has been purchased from its previous owners Embrace Care Group and will become RDCP Care’s flagship nursing home.
Kings Bromley Nursing Home provides specialist residential, nursing, palliative, dementia and physical disability care for older people. Offering expert care and support to people with a wide range of conditions such as Parkinson’s disease, stroke, heart and chest related problems, reduced mobility and dementia.
Despite the change in ownership, no changes to staff will be made at the care home. The new owners plan to make a range of aesthetic improvements to the facility including redecorating and refurbishing the property.
Established in July 2015 by Sameer Rizvi and Iryna Dubylovska, RDCP Care is the care home management arm and subsidiary of London based investment firm RD Capital Partners. Kings Bromley marks the company’s first nursing home acquisition of 2017, with a deal pipeline to acquire at least two further care homes this year.
Relationship manager David Booth from Allied Irish Bank (GB) developed a seven figure funding deal to support RDCP Care’s acquisition of the nursing home.
Sameer Rizvi, managing partner of RD Capital Partners, says: “As an investment firm, our main focus is buying out and managing care homes and nursing homes across the UK. The UK has a robust care sector and arguably the world’s best investment landscape, which is supported by very favourable demographics and excellent service providers (lawyers, accountants, brokers and bankers). Over the next decade or so, we see a number of investment opportunities that will allow us to provide top returns for RDCP partners and investors.
“We are very pleased that our acquisition of Kings Bromley Nursing Home has been a success. This is precisely the type of care home we look for: ‘Good’ CQC rating, stellar financial performance, largely purpose-built and run by a top management team.
“This deal would not have been possible without David Booth’s unwavering support. This is also the first time we have worked with David and Allied Irish Bank (GB) and we have been very pleased with the competitiveness of the funding offer. David has worked alongside us brilliantly and we look forward to continuing our relationship with him in the future.”
Booth says: “I am delighted to be working with Sameer and Iryna and supporting their development of RD Capital Partners and RDCP Care. From our first meeting, I have been very impressed with their growth plans and look forward to working with them going forward.”
Kuits Solicitors’ corporate senior associate Jan Winstanley led the funding transaction for Allied Irish Bank (GB) supported by associate Helen Mather and solicitor Ryan Brown, while real estate finance partner David Marlor advised on the property-related matters, along with banking solicitor Alexander Dickinson.
Hempsons Solicitors’ partner Faisal Dhalla led the transaction for RD Capital Partners on the corporate side, supported by partner Michael Dulhanty on property-related matters. Hazlewoods LLP partners Andy Brookes and David Main, along with senior manager Richard Pitt, provided financial and tax advice to the RDCP team.