RD Capital Partners, a private equity and real estate investor, has acquired Kings Bromley Nursing Home from Embrace Care Group.
The 55-bedroom facility, located in Staffordshire, will become the flagship home for RDCP Care, RD’s care home management arm.
The home provides specialist residential, nursing, palliative, dementia and physical disability care for older people, and RD plans to refurbish the property.
“As an investment firm, our main focus is buying out and managing care homes and nursing homes across the UK,” said RD’s managing partner Sameer Rizvi. “The UK has a robust care sector and arguably the world’s best investment landscape, which is supported by very favourable demographics and excellent service providers.”
The leveraged buyout was supported by a seven-figure funding package, structured by Allied Irish Bank.
RDCP Care was established in 2015 by Rizvi and Iryna Dubylovska, a senior partner at RD. The firm has plans to acquire two more care homes in 2017, including one in Bath.
The investment in Kings Bromley came from RD’s RDCP Healthcare Opportunities Fund I, an open-ended fund currently managing circa £10m of assets.
Investors in this debut fund include the firm’s general partners and a number of high-net-worth individuals.
RD aims to start raising its second fund this year, which will be closed-ended with a target first close of £25m.