LONDON , Oct. 30, 2024 /PRNewswire/ -- H.I.
G. Capital ("H.I.
G."), a leading global alternative investment firm with $65 billion of capital under management, is pleased to announce that its portfolio company Lovett Care , a leading provider of elderly care homes across England and Wales , has completed the acquisition of New Care. Established in 2009 and based in Newcastle-under-Lyme , Lovett Care has grown to a portfolio of 16 homes (1,091 care beds) and is committed to becoming the best-in-class provider in the elderly care sector, through continued investment in its facilities, systems, and people.
Cheshire based New Care has a portfolio of 15 facilities (1,057 care beds) and has established a strong reputation for delivering high quality care in modern, purpose-built settings. The combined group will own 31 homes with a total capacity of 2,148 beds, making it a top 20 care home operator in the UK and one of the largest in the Midlands . Riccardo Dallolio , Managing Director and Head of H.
I.G. Realty in Europe , commented: "We are delighted to complete this transaction and to continue in our plan of building one of the leading players in the U.
K. elderly care sector. We have created several successful real estate platforms in sectors with strong underlying secular trends such as hospitality, logistics, and self-storage, working with best in sector management teams.
" Stelios Theodosiou , Managing Director at H.I.G.
Realty, commented: "The transaction demonstrates our ability.
