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News Release

London

JLL advises on £30 million elderly care management buy-out deal


 

 

JLL has advised on the £30.0 million investment into an elderly care management buy-out. Synova Capital has backed care home operator Oakland Primecare, a leading provider of premium private pay elderly care focussed on the South East of England.

 

With two existing homes at Hastings and Loughton and a secure pipeline of sites, the new group intends to develop multiple additional homes over the next few years. The group benefits from impressive regulatory assessments, providing residential, dementia and nursing care. Each home offers superior amenities, ample and varied day space, attractive landscaping, and generous room sizes, with a focus on providing market-leading care in a friendly and welcoming environment.

 

JLL worked with Oakland Primecare to create a business plan, develop a fully integrated financial model, negotiate terms and manage the process through to the point of completion, securing the highly regarded Synova Capital for them as their chosen strategic funding partner.

 

Eamonn Meadows, Associate Director at JLL, commented, "This deal demonstrates the continued confidence in the UK elderly care home market. Oakland has established a clear track record in developing and operating private pay purpose-built, premium quality care homes over the last twenty years and the continual evolution and improvement of their facilities and services confirms that they are well placed to capture market share in this undersupplied part of the market."

 

Joe Guilfoyle, Director at JLL, added "Oakland focuses on high quality private pay elderly care and presents a highly attractive platform for investment.  Synova stood out as a strategic funding partner as they understood both the opportunity in this sector, but more importantly the commitment to high quality care that will ensure that Oakland is a success."

 

Harnoop Atkar, Managing Director of Oakland Primecare said, "JLL expertly helped us to secure a strategic funding partner that will allow us to achieve our goal of being a market-leading care home operator. JLL's support throughout the process ensured a successful closure. We are confident that our new structure will allow us to unlock development pipeline, thereby assuring the growth aspirations of Oakland Primecare."​