April 2016 – Midlands care home operator Adept Care Homes has agreed a £4.7m deal with Avery Healthcare Group to acquire two of its popular Redditch care homes.
- Adept Care Homes Group agrees £4.7m deal to acquire two care facilities in Redditch
- Bowood Court and Bowood Mews bought from Avery Healthcare Group
- Royal Bank of Scotland supports transaction with seven figure funding deal
The deal, which has been supported by a seven figure funding deal with Royal Bank of Scotland, sees the local business acquire both Bowood Court Care Home and Bowood Mews Care Home which are located on Hewell Road in Redditch.
The two properties are to now undergo a complete refurbishment, expected to cost in the region of £600k and to take around 12 months to complete. The new owners plan to create six separate care suites within the two homes, each one having its own lounge and dining facilities and a dedicated team of carers. It is anticipated that around 15 residents will be cared for in each suite, benefitting from a more intimate service by being looked after by the same team of familiar faces each day. All bedrooms are also to be refurbished with en-suite bathrooms adapted to include wet floor showers.
Adept Care Homes also plans to add new social facilities to the properties including a private dining room, shop, cinema, pub and coffee shop for residents and their families to enjoy.
Celebrating its 30th anniversary year this year, Adept Care Homes is owned by Managing Director Dave Lock and operates five other care homes across the Midlands. These include Douglas Court in Derby, The Knowles and The Willows in Coventry, The Old Vicarage in Chesterfield and Moat House in Leicestershire. The company is also currently developing a brand new care home called Kiwi House which is set to open in June.
Dave Lock, Managing Director of Adept Care Homes Group, said: “I am really pleased that our acquisition of both Bowood Court Care Home and Bowood Mews Care Home has been successful.
“The teams at both homes provide an excellent level of care to residents which we will continue to maintain and improve wherever possible. Our plans to refurbish the properties will modernise the facilities, bringing standards in-line with the care we offer and enabling us to offer a more personal service to our residents.
“I’d like to thank Kenny Nelson and his team at Royal Bank of Scotland for the support we have received during the acquisition process. Their funding has enabled us to complete the purchase and will support us to undertake the extensive refurbishments we want to make.”
Kenny Nelson, Relationship Director at Royal Bank of Scotland, said: “The acquisition of Bowood Court and Bowood Mews Care Home’s is a great move for Adept and I am pleased that we have been able to support the deal.
“Dave’s plans to renovate the properties are excellent and should result in an enhanced level of care and more enjoyable surroundings for residents.”