Following their appointment as joint administrators to Gwent Nursing Homes Limited, Chris Newell, Graham Randall and Paul Zalkin of business advisory firm Quantuma have secured the sale of the business.
Located in the heart of the village of Caerleon, Newport, the nursing home is registered for 54 clients.
The company, which trades as Caerleon House Nursing Home, entered administration in August 2019 following a period of financial instability. It operated successfully under Quantuma’s instruction, despite the Covid19 pandemic, with the firm overseeing the running of the home and its return to profitability.
Having received strong interest from a number of existing care home providers and investors, Quantuma agreed a sale to Bal and Bindu Brainch. The buyers also own Pentwyn House Nursing Home in Marshfield, Cardiff, which they acquired in February 2018.
Chris Newell, managing director at Quantuma and joint administrator of Gwent Nursing Homes Limited, said: “We have been trading Caerleon House Nursing Home since being appointed as administrators in August 2019. During this period, we have successfully turned the business around, improving occupancy and profitability. This has not only led to securing the long-term future for the business, but also brought peace of mind to the residents, their families and staff during an otherwise uncertain time.”
“This is a huge success for all involved and we are delighted to have sold to the new owners who are well-positioned to take the business through its future endeavors.”
The sale was funded by Cynergy Bank. Blake Morgan represented Quantuma and Elliot Mather represented Bal and Bindu Brainch. Specialist business property advisor Christie & Co advised on the sale.
Caerleon House Nursing Home was sold off a guide price of £2,550,000.