Care Home Share Acquisition

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Emma Reed led the Corporate legal team at Slee Blackwell in the acquisition of the entire share capital of the group owning Somerforde Care Home.

The care home in Newton Abbot 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.

Emma 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. “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 dependant on working as a team with Jonathan’s other advisers, whom were all as motivated and a pleasure to work with” explained Emma Reed, Partner of the Corporate Team at Slee Blackwell.

Jonathan commented that “he would be delighted to recommend Emma Reed” and regarded her service throughout the transaction as “excellent”.

News of the acquistion was carried in the Herald Express. You can read the story here

Emma Reed can be contacted on 01271 349940. Alternatively you can email her at [email protected]