Aurelius partially sells embattled Nestor to trade buyer CRG

The transaction does not include the company's Northern Irish and Irish divisions, which will remain under Aurelius's ownership.

The deal comes seven months after the company, which operates under the Allied Healthcare and Allied Primecare brands, agreed a company voluntary agreement with its creditors.

It also comes a month after regulator Care Quality Commission (CQC) issued a notification to local authorities warning of a "credible risk" that the company would cease trading after 30 November.

Nestor had been attempting to secure a new financing arrangement prior to the CQC notification. However, the company said in a statement that it had been unable to secure a refinancing, in part due to the notification, and had instead secured an extension of funding until 21 December.

Nestor also said that some local authorities and clinical commissioning groups have since terminated their contracts with the firm.

Previous funding
Aurelius acquired Nestor from listed trade vendor Saga for a reported £19m in 2015.

Company
Founded in 1972, Stafford-headquartered Nestor provides domiciliary care to elderly patients and people with critical needs, in addition to outsourced primary healthcare services such as out-of-hours GPs, walk-in centres and dental practices.

People
Allied Healthcare – Narinder Singh (CEO).

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• Topics
• Exits
• UK / Ireland
• Healthcare
• United Kingdom
• Aurelius Equity Opportunities
• Trade sale
• Partial sale