Knight Frank, the global property adviser, has advised Helen McArdle, the largest independent care home operator in the North East of England, on the sale of a portfolio of 20 care homes, to HC-One, one of the largest care providers in the UK.
The portfolio operates 1,343 beds and has an income in excess of £32 million pre-acquisition.
Julian Evans, Head of Healthcare at Knight Frank, said: “Helen McArdle Care has long been considered to be one of the UK’s outstanding care providers. This acquisition perfectly encapsulates HC-One’s continued focus to provide high quality care from best in class facilities.”
Chai Patel, HC-One Executive chairman, said: “We are delighted to welcome Helen McArdle Care to the HC-One family – another major moment in HC-One’s journey from turnaround to transformation.”
This is HC-One’s second acquisition since it was acquired in 2014 by a consortium made up of Formation Capital, HCP, Safanad and Court Cavendish.
Gleacher Shacklock advised HC-One on the transaction and Deutsche Bank provided finance.
Knight Frank’s Healthcare and Hotel team annually value and transact on c.£20bn of businesses and assets.