Loughborough-based care homes group Rushcliffe Care, has acquired learning disabilities company, Moorcourt Developments Limited, in a multi million pound deal.
Rushcliffe, which already operates homes in Leicestershire, Derbyshire and North and South Essex, will now operate two residential facilities for adults with learning disabilities in Staffordshire following this latest acquisition.
The group was advised on the deal by David Kaplan, Head of Corporate and Commercial at East Midlands’ law firm Flint Bishop and Barnett, with Colin Peacock, Head of Corporate Finance at accountants Greenhalgh & Co in Nottingham advising on the tax, accounting and commercial aspects.
Both advisers acted for Rushcliffe Care two years ago when the group purchased Derby-based Arleston View Limited.
Moorcourt Developments – which was acquired from Moorcourt Holdings Limited and trades as Moorcare – operates an adult residential facility from an eight acre site in Uttoxeter. This site incorporates two registrations; the first, Highfield Hall and the second, Highfield Court, which consists of 23 separate bungalows of various sizes. The whole village-type complex is registered for 80 learning disabilities places.
Moorcare’s 100 plus support staff, together with its management team, increases Rushcliffe’s rapidly expanding workforce to approximately 1,000 people. This now makes Rushcliffe one of the largest independently owned healthcare companies in England.
Rushcliffe Care, whose head office is in Epinal Way, Loughborough was named as one of the East Midlands’ fastest growing 50 companies by Finance Midlands Insider Business and Finance magazine in 2004.
An Investor in People, it has won a number of industry accolades, including the best employer of more than 250 staff award in the National Training Awards 2004 and Independent Care Operator of the Year 2001.
Director Surjit Rai said the acquisition of Moorcourt Developments was part of the group’s ongoing planned programme of expansion throughout England and now made it one of the major players in healthcare.
He added: “It is part of our strategy to achieve further growth through acquisition and new build and this deal also represents a move further afield geographically into the Staffordshire specialist care sector.”
David Kaplan said he was delighted to advise Rushcliffe Care on another major deal and to assist it with its continued expansion plans.
He added: “What is key to our approach is our understanding of our clients’ requirements and being able to deliver a service that produces the desired results.”
“As a result of our understanding of Rushcliffe’s growth plans and requirements, we were able to identify this opportunity through our contacts and introduced this transaction to Rushcliffe”
Colin Peacock added: “Greenhalgh & Co have been involved with Rushcliffe Care since its inception 17 years ago and were pleased to provide further advice as the business continues to go from strength to strength.
“By working as a team all the parties ensured the deal was completed smoothly and efficiently.”
Solicitors Hacking Ashton LLP of Newcastle under Lyme advised Moorcourt Holdings Ltd, while corporate finance advice to the seller was provided by Chris Jones of Bates Weston Corporate Finance.