The Montreux Healthcare Fund has completed the purchase of neurological rehabilitation specialists Christchurch Group for an undisclosed sum.
The acquisition is said to add £3.6m EBITDA to the fund’s portfolio.
Headquartered in Northampton, Christchurch Group comprises ten facilities with 136 beds, 98% of which are freehold.
The business will aim to deliver considerable value to the wider group, with several key staff retained at a senior level. The acquisition also offers the opportunity to drive forward occupancy and expansion, with plans for 22 additional organic beds in the medium term.
The Montreux Healthcare Fund already has a significant presence in the specialist care market through its stake in Active Care Group, which comprises various companies specialising in care and support for adults and children with spinal injury, acute brain injury, epilepsy, learning disabilities, respiratory and other complex care needs.
‘The Christchurch Group acquisition is a step forward in the Montreux Healthcare Fund’s strategy, providing 136 high quality care beds with further expansion planned in the medium term,’ said Oliver Harris, chief executive officer of Montreux Capital Management (UK). ‘My team and I have worked hard to secure this acquisition in a short time frame and believe this will deliver good value to our investors.’
Connell Consulting carried out commercial due diligence on the transaction on behalf of the vendor.