Care provider Ashberry Healthcare has completed a management buyout from former owners Rosegarth Investments by three members of its existing executive team. The sale was completed on 7 October.
Chief executive Nigel Denny, alongside chief operating officer Susan Lovelace and chief finance officer, Gary Cottrell, have acquired 100% ownership of the business and property.
Denny said: “With full ownership of the business, the senior management team can now concentrate on developing our strategy as a provider of dementia residential services, operating homely, individually styled accommodation with personalised care delivered by trained and passionate staff. All three owners will continue to be hands-on, regularly visiting our homes and supporting our staff.”
Ashberry Healthcare operates seven care homes comprising: Broomy Hill and Holmer Court, in Hereford; Heathercroft and Meadowview in Warrington; Moorhouse in Hindhead and Allt-Y-Mynydd and Blaenos House in Carmarthenshire.
Denny said: “I would like to thank Gary Cottrell who has worked tirelessly alongside me in delivering this transaction whilst Susan Lovelace has continued the day-to-day running of our operations.
“We would like to acknowledge the support of our corporate commercial lawyers, Tees Law, for their diligence in getting this deal across the line and Joe McDermott from Albright Dene for his advice and action in resolving some complex property issues.”
Connell Consulting conducted commercial due diligence on the MBO.
Date published: October 9, 2020