H.I.G. Realty Strengthens Its Position in the Elderly Care Sector
H.I.G. Capital, a prominent global alternative investment firm with significant capital assets, is excited to announce the successful acquisition of New Care by its portfolio company, Lovett Care, a leading elderly care home provider.
Acquisition Details and Increased Capacity
Founded in 2009, Lovett Care operates a network of 16 homes, providing care to 1,091 residents. With the integration of New Care, which has a strong reputation for high-quality care and a network of 15 modern facilities serving 1,057 residents, the newly combined organization will have 31 care homes with a total capacity for 2,148 beds. This strategic expansion ensures the company ranks among the top 20 care home operators in the United Kingdom.
Leadership Insights
Riccardo Dallolio, Managing Director of H.I.G. Realty in Europe, expressed enthusiasm on the completion of the acquisition, emphasizing the firm’s strategic goal of becoming a leading player in the UK's elderly care market. Highlighting previous successes in other real estate sectors, he noted their commitment to working with top management teams to drive growth and excellence.
Expansion Strategy in the Elderly Care Market
Stelios Theodosiou, another Managing Director at H.I.G. Realty, pointed out that the acquisition illustrates their capability to identify and execute synergistic, off-market transactions. The merging of these two well-respected groups aims to enhance operational quality in care homes, reinforcing their position in the sector.
Commitment to Quality Care
Keith Crockett, CEO of Lovett Care, welcomed the residents and staff from New Care, emphasizing a shared commitment to providing top-tier care in attractive settings. This merger signifies a pivotal moment in Lovett Care’s mission to deliver superior elderly care across appealing market locations.
About H.I.G. Capital
H.I.G. Capital specializes in alternative investments with a rich history dating back to 1993, managing approximately $65 billion in assets and focusing on mid-sized company investments. The company operates globally, with a presence in major cities across the United States and several affiliate offices across Europe and Latin America. H.I.G. is recognized for its flexible approach, providing equity capital through management buyouts, recapitalizations, and corporate carve-outs.
Investment Focus
With a diverse portfolio that spans several sectors, including hospitality and logistics, H.I.G. continues to expand its investment in real estate, specifically targeting properties that can benefit from effective management practices. Moreover, H.I.G. Infrastructure targets value-add and core plus investments within the infrastructure realm.
Contact Information
For inquiries, contact Riccardo Dallolio or Stelios Theodosiou, managing directors at H.I.G. Realty. Both can be reached through their respective emails for direct communication.
Frequently Asked Questions
What is the significance of the acquisition made by H.I.G. Realty?
The acquisition is a strategic move to strengthen Lovett Care's position in the elderly care sector, enhancing its capacity and quality of service.
How many care homes will Lovett Care operate after the acquisition?
After the acquisition of New Care, Lovett Care will operate a total of 31 care homes.
What is H.I.G. Capital's focus in the investment market?
H.I.G. Capital focuses on mid-sized companies, providing both debt and equity capital with an emphasis on operationally focused value-added approaches.
Who can be contacted for more information regarding Lovett Care?
Riccardo Dallolio and Stelios Theodosiou are the primary contacts, available through email for more detailed inquiries.
What is the ultimate goal of this merger?
The merger aims to establish Lovett Care as a top 10 care home operator in the UK while enhancing the quality of care across its facilities.
