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London, 19 August 2013 – Jones Lang LaSalle Corporate Finance has advised on the corporate sale of Richmond Care Villages to Bupa Care Services.
Richmond Care Villages is a market leader in care villages in the UK, providing extensive communal and recreational facilities for retirement living, including retirement apartments and assisted living support, along with residential care, all on one site.
The business comprises five mature, premium quality villages, which accommodate a total of 660 people and includes three development sites with planning permission ready for developing new care villages.
Jones Lang LaSalle Corporate Finance led the transaction acting as corporate, financial and real estate advisers.
Tim Edghill, Head of M&A, Jones Lang LaSalle Corporate Finance said: “This transaction represents a successful outcome for both our client and Bupa. It demonstrates the depth of interest in the retirement village sector which will continue to grow, as lifestyle and choice become an increasingly important factor alongside care support in old age.”
Paddy Brice, Managing Director, Richmond Care Villages said: “Jones Lang LaSalle Corporate Finance has provided excellent advice that has achieved a good result for the vendors and the right result for the business. The strategic fit between Bupa and Richmond is strong, and the acquisition will benefit both organisations going forward, allowing Richmond to unlock development potential and continue its expansion.”
All 600 of Richmond’s management team and employees will be retained as part of the transaction.
In addition to Jones Lang LaSalle Corporate Finance, the vendor was also advised by Berwin Leighton Paisner and KPMG.
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Leisa Workman - PR
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