Ashberry Healthcare Ltd. has announced the completion of a Management Buy Out from former owners Rosegarth Investments, by three members of the care group’s existing executive team. The sale was completed on 7th October.
Nigel Denny Chief Executive Officer alongside Chief Operating Officer Susan Lovelace and Chief Finance Officer, Gary Cottrell, have acquired 100% ownership of the business and property portfolio.
Commenting on the decision to take over ownership of the 320 registered bed care business which employs 450 staff, Chief Executive Officer Nigel Denny stated:
“We are delighted to have completed the purchase of Ashberry Healthcare. 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”
“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”.