LONDON , Oct. 30, 2024 /PRNewswire/ — HIG Capital (“HIG”), a leading global alternative investment firm with $65 billion in capital under management, is pleased to announce that its portfolio companies, Provider Lovett Care has completed its acquisition of Nucare, which operates care homes in England and Wales.
Founded in 2009 and based in Newcastle-under-Lyme, Lovett Care has grown to a portfolio of 16 homes (1,091 care beds) and, through continued investment, is a best-in-class provider of aged care. We are committed to becoming. equipment, systems, and people. Based in Cheshire, New Care has a portfolio of 15 facilities (1,057 care beds) and has established a strong reputation for providing high quality care in a modern, purpose-built environment. The combined group will own 31 homes with a total of 2,148 beds, making it one of the top 20 care home operators in the UK and one of the largest in the Midlands.
Riccardo D’Allorio, Managing Director and Head of European HIG Realty, said: “We are delighted to have completed this transaction and look forward to continuing our plans to build one of the UK’s leading companies in aged care. We are pleased that we have created several successful properties.” We work with the best management teams in the sector to deliver platforms in sectors with strong long-term trends such as hospitality, logistics and self-storage. ”
Stelios Theodosiou, Managing Director of HIG Realty, said: “This transaction is a testament to our ability to source and execute off-market transactions that are highly synergistic with our existing portfolio companies. “This transaction brings together two award-winning groups with strong track records.” We pursue our objective of making Lovett Care a top 10 care home operator in the UK and will continue to pursue opportunities to grow the Lovett Care portfolio both organically and non-organically. ”
Keith Crockett, Lovett Care CEO, said: “We are delighted to welcome New Care residents and new colleagues to the Lovett Care family and look forward to working and growing together. This is our long-term strategy. “This is an important milestone in the future.” and is consistent with our commitment to providing the highest quality care in attractive market locations. ”
About HIG Capital
HIG is one of the world’s leading alternative investment firms with $65 billion in capital under management*. Headquartered in Miami, the company has U.S. offices in Atlanta, Boston, Chicago, Los Angeles, New York and San Francisco, as well as international affiliates. With offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai and Hong Kong, HIG is committed to providing both debt and equity to mid-market companies from a flexible and operational perspective. Specialized. A focused, value-added approach:
HIG’s equity funds invest in management buyouts, recapitalizations, and divestitures of both profitable and underperforming manufacturing and service industries. HIG’s debt funds invest in senior, unitranche and junior debt financing for companies of various sizes on both a primary (direct origination) basis and in the secondary market. HIG also manages a publicly traded BDC, WhiteHorse Finance. HIG’s real estate funds invest in value-added real estate that can benefit from improved asset management practices. HIG Infrastructure focuses on value-adding and core-plus investments in the infrastructure sector.
Since its founding in 1993, HIG has invested in and managed more than 400 companies worldwide. The company’s current portfolio includes more than 100 companies with combined sales of more than $53 billion. For more information, please visit HIG’s website (hig.com).
*Based on total capital raised by HIG Capital and its affiliates.
contact:
Riccardo D’Alloglio
President
(email protected)
Stelios Theodosiou
President
(email protected)
HIG Capital
10 Grosvenor Street
London W1K 4QB
England
P +44 (0) 207 318 5700
hig.com
SOURCE HIG Capital
Want your company’s news featured on PRNEWSWIRE.COM?
Over 440,000
newsroom and
influencer
9k+
digital media
outlet
Over 270,000
journalist
opt-in
