London care group completes first acquisition with seven-figure funding
A London-based care firm has kicked off its growth strategy with the acquisition of a care home in Somerset.
Allegra Care has acquired St. George’s Nursing Home in Weston-Super-Mare, with support of a seven-figure funding package structured by Allied Irish Bank (GB).
Opened in 2012, the 66-bed nursing home comprises accommodation over two floors as well as a cinema room, hairdressing salon and nail bar, reading room and several lounge areas.
Established in 2018, Allegra Care is part of the DGS Capital Partners group of companies, as well as sister company to assisted living business Amicala.
The firm hopes that the acquisition marks the first of many deals designed to bolster the group’s offering and expand across the country.
Helen Jones, CEO at Allegra Care, commented: “I am delighted to complete our first acquisition and would like to thank Denis and Ben at Allied Irish Bank (GB) for providing the funding which has helped us to get started and grow our business.
“St George’s Nursing Home is a beautiful home and we are absolutely delighted to work with all our new colleagues.
“The excellent leadership team and care provision provided at St George’s Nursing Home really impressed us and we are actively looking for further acquisition opportunities of the same high standards as St George’s Nursing Home to enhance our services in the UK.”
Denis Knockton, head of healthcare London and South at Allied Irish Bank (GB) added: “The management team at Allegra Care is extremely strong with extensive experience in the care sector.
“They have demonstrated a very clear understanding of the sector and their aspirations to expand further, with the acquisition of St George’s Nursing Home considered to be the first of many acquisitions. We are delighted to support the team during this very exciting time.”
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