Signature was established in 2006 by Cabot Square Capital, in response to the lack of premium care homes in the UK. The group now has 9 open communities, with a further 7 under development and has gained awards, nominations, and extremely high resident satisfaction survey results for both the outstanding care it delivers and the innovative, purpose built, luxury homes it builds.
An opportunity recently arose for the Management team to acquire the Company, with the deal recently completing. The finance for the buyout has been provided by the management team and several institutional backers, led by Health Care REIT who already have an established working relationship with Signature.
Commenting on the sale of the business, Keith Maddin, Partner, Cabot Square Capital said:
“Signature is a very successful business and has built a first class reputation of developing and operating very high quality, private-pay care homes. Signature is well placed to build on this momentum further and we wish them all the best for the next stage of their growth.”
In response, Tom Newell, Executive Chairman of Signature said:
“We have had an excellent working relationship with Cabot and they have been very supportive. We are delighted to now continue and expand our relationship with Health Care REIT. Our vision now is to build on our established reputation for providing award winning care, and duplicate this in further sites in and around London and the South East. Our second goal is to become the “Employer of Choice,“ within the sector, as we recognise that it is our employees that define our brand. Our employees are those special people who create the home-like, relaxed and enjoyable environment which Signature prides itself on providing for our residents.
In summary, this is an exciting time and this acquisition will benefit all involved especially our present employees by creating further opportunities for employment and promotion.”