The sale marks RDCP Care’s second acquisition this year following that of the Kings Bromley Home in Staffordshire, also brokered by Christie & Co.
Previously owned by Roger and Sheila Hill, St Nicholas House sits on the Welsh border in Churchstoke, Powys. The purpose-build facility was established as a residential care home in 1986 and reconstructed in 2010 to extend its nursing and residential services to accommodate 49 residents. The home consists of four communal lounges, two of which are dining rooms, as well as a hair salon. RDCP Care will be transferring the care home’s current staff.
Managing Partner at RD Capital Partners LLP, Sameer Rizvi comments; “Since completing our first acquisition earlier this year, we have been focused on expanding our portfolio in the Midlands and Wales, seeking appropriate opportunities. St Nicholas House has proven to be an excellent addition. It is a beautiful purpose-built nursing home that is very well managed, profitable and has a reputation for providing quality nursing and residential care.”
Paul Reilly, Associate Director at Christie & Co’s Birmingham office comments on the sale; “Christie & Co was confidentially marketing the business off an asking price of £3,250,000, which attracted a number of buyers. The business was eventually sold following a best bids scenario. This sale shows the continuing strength in the market of good assets with a strong EBITDA.”
The acquisition was supported by a funding package provided by Allied Irish Bank.