Slee Blackwell act in major Devon care home share acquisition
The subject of this share acquisition was the Somerforde care home in Newton Abbot. It is a 22 bed-roomed residential care home for the elderly, fully occupied, with a staff of 21 with both private and NHS contracts. It was bought by husband and wife team, Jon and Jules Lobb. The latest CQC report for the care home, before purchase, was ‘good’ and it is Mr and Mrs Lobb’s aim to improve that to an ‘outstanding’ status.
We worked closely with the buyer’s professional advisors, including Nick Connors of RBS, who provided the funding; Andy Hawkes and Tim Godfrey of Bishop Fleming; and Simon Harvey at Christies.
One of the partners in the Corporate Team handling the share acquisition at Slee Blackwell commented:
“It was a pleasure to work for Jon, he was focused and passionate about the acquisition throughout the protracted negotiations and I am sure that he will take what is already a good business and turn it into a great place for his residents to see out their final years. The success of the transaction was dependent on working as a team with Jonathan’s other advisers, who were all as motivated and a pleasure to work with,”
News of the care home share acquisition was featured in the Herald Express.
