Foundation Partners and Deer Capital agree to acquire Hartford Care
As the first step of an ambitious UK healthcare investment strategy, Foundation Partners and Deer Capital have entered a definitive agreement for the acquisition of Hartford Care for a sum in excess of £100m. The transaction also provides significant additional capital to execute our expansion strategy, which will see Hartford Care double in size by 2026 with the strategic acquisition of new care homes, and the expansion of our existing portfolio of 21 homes. Our existing growth plan has already taken us from 600 to 1,000 beds in the past two years.
Kevin Shaw, Chief Executive of Hartford Care, comments: “Fundamental to our growth strategy is the exceptional high quality of care we offer and the ways in which we enhance the lives of our existing residents. We thank our outgoing shareholders for their commitment to our values and unwavering support over the last 20 years. As well as enabling the continued growth of Hartford Care, our exciting new partnership with Foundation Partners and Deer Capital is strongly aligned with our ethos of investing in innovation and creating a ‘home from home’ setting; we can move forward in growing the Hartford Care brand to create new caring communities that are kind and welcoming of everyone.”
Ben Puddle of Foundation Partners, comments “We are delighted with this initial transaction as part of our exciting joint venture with Deer Capital as we share the same values and beliefs as Kevin and his team. We support their ambitious growth plan and expect the business to continue to flourish under his exceptional leadership. Foundation Partners have a proven track record of establishing value through the repositioning, redevelopment, and asset management of real estate assets and operational improvements in their respective corporate entities. We look forward to working with the whole team at Hartford Care in delivering on their unrivalled promise”.
Mark Sonnenschein of Deer Capital, comments “We have been actively looking for a UK care home operator for the last few years as we begin our ambitious expansion into the UK and Europe and are delighted to have supported Foundation Partners and Kevin in the acquisition of Hartford Care. Kevin and the Management team have a wonderful track record and we are looking forward to working with them over the coming years”.