Midland solicitor completes three deals in care homes sector
Mar 17 2009 by Tom Scotney, Birmingham Post
Thomas Guise Solicitors has completed three separate care homes deals for clients across the Midlands.
The hat-trick of deals comes as part of £18 million worth of transactions completed by the Midland firm’s corporate team in recent months.
The firm has a specialist Care Homes division, which has acted on behalf of three sets of purchasers in the sector.
Thomas Guise represented Dreamcare Homes in acquiring a 13-bed care home near Ross-on-Wye.
The company has ambitious development plans for the residence in the months ahead.
The firm also acted on behalf of the purchaser of The Old Hall in Lincolnshire, a business bought from administrators. The rescue of the home, registered for 21 people, means that local jobs in the area can be preserved.
And in Coventry, Thomas Guise represented Fountain Lodge Care Home Ltd in buying 30-bed Fountain Lodge, with finance provided by Lloyds TSB Commercial.
Thanks to the purchase, Fountain Lodge has now received additional investment, from upgrading facilities in rooms to providing an activities coordinator to organise games, bingo and quizzes with the residents.
New owner Danny Singh said: “When I bought a previous care home in Birmingham I found the experience quite stressful.
“Thomas Guise helped to make the process very easy and lifted a weight from my shoulders. Their advice was very down to earth and offered great value for money.”
Thomas Guise director Stuart Bailey said: “These recent deals show that despite the credit crunch, there are still plenty of opportunities around, especially in the care homes sector where Thomas Guise has particular expertise.
“We have a dedicated team who are able to advise on a number of aspects relating to the sale or purchase of a care home, from negotiating commercial contracts to reviewing employment arrangements.
“By bringing a range of services together we can advise our clients on all aspects of the deal and help things to go through smoothly.”
Managing director Wayne Thomas added: “Our multi-disciplinary team includes specialists in raising finance, regulation and compliance and shareholders’ agreements. By combining our strengths our team has managed to put together some great deals on behalf of clients.
“The current climate means that owner-managers are looking to get good value from all of the services that they purchase, and legal advice is no exception.”
Healthcare has been one of the few markets with some life during the recession, as public money continues to be used despite the private sector shrivelling up.
Richard Bailey, a director of Birmingham-based Catalyst Corporate Finance, has seen the firm make some promising investments in the sector.
At the time of the last one, he said: “Businesses in the healthcare sector, while they are suffering the same challenges as the rest of the market, have more secure revenue streams. The healthcare sector is backed by a lot of government spending, which is relatively secure.”
