H.I.G. Capital Expands Its Investment in Elderly Care
H.I.G. Capital, a prominent global alternative investment firm managing an impressive $65 billion in assets, has announced a significant step in enhancing its portfolio. Its company, Lovett Care, which specializes in providing care homes for the elderly, has completed the acquisition of New Care. This move not only strengthens Lovett Care's footprint in the market but also underscores H.I.G. Capital's commitment to the healthcare sector, particularly in elderly care.
About Lovett Care and Its Commitment
Founded in 2009 and located in Newcastle-under-Lyme, Lovett Care operates a growing network of 16 care homes, offering a total of 1,091 beds. The organization has built a reputation for excellence, focusing on becoming the premier provider of elderly care services. Their dedication to investing in state-of-the-art facilities and nurturing their workforce sets them apart in a competitive industry.
The Synergy of New Care Acquisition
With New Care as part of its family, Lovett Care's assets will increase to 31 homes, accommodating a total of 2,148 residents. This acquisition positions Lovett Care among the top 20 care operators in the U.K., significantly boosting their reach and impact in the Midlands.
Leadership Insights on Industry Expansion
Riccardo Dallolio, Managing Director at H.I.G. Realty in Europe, expressed enthusiasm about finalizing the acquisition, stating that they are keen on establishing a leading presence in the U.K. elderly care market. Dallolio further noted the firm's history of creating successful platforms across various sectors, driven by strong foundational trends in the industry.
A Vision for Future Growth
Stelios Theodosiou, also a Managing Director at H.I.G. Realty, shared insights into the strategic advantages provided by this acquisition, emphasizing the collaborative potential of merging two award-winning teams. Both organizations aim to maintain high standards of care in next-generation facilities. Moving forward, they plan to explore Organic and inorganic avenues to further expand Lovett Care's market presence.
Welcoming New Residents
Lovett Care's CEO, Keith Crockett, expressed his excitement about integrating New Care’s residents and staff into the Lovett Care family. He views this acquisition as a critical milestone in fulfilling the company's long-term vision of providing superior quality care in prime market locations.
Understanding H.I.G. Capital's Reach
H.I.G. Capital has established itself as a key player in the investment arena since its inception in 1993. The company operates globally, with a substantial presence in both the United States and international markets, including major cities such as Miami, Los Angeles, London, and Paris. Their primary focus encompasses providing equity and debt capital to mid-sized companies with the intent of leveraging operational efficiencies.
In addition to its efforts in elderly care, H.I.G. Capital has various funds that facilitate investments across different sectors, including manufacturing, services, and infrastructure, showcasing their versatility and strategic vision.
Looking Forward
As Lovett Care continues to evolve, the backing of H.I.G. Capital assures stakeholders of significant growth and increased capacity to meet the demand for elderly care services across the U.K. Their commitment to quality and operational excellence positions them to adapt to the ever-changing landscape of elderly care.
Frequently Asked Questions
What recent acquisition did H.I.G. Capital announce?
H.I.G. Capital announced the acquisition of New Care by its portfolio company Lovett Care.
What is the combined capacity of Lovett Care and New Care?
The combined capacity will be 2,148 care beds across 31 homes.
Who is the CEO of Lovett Care?
Keith Crockett serves as the CEO of Lovett Care.
In which regions does Lovett Care primarily operate?
Lovett Care operates primarily in England and Wales.
What is H.I.G. Capital's total capital under management?
H.I.G. Capital manages a total of $65 billion in capital.
