Albion exits Berkley Care for 2.5x return

The sale has realised a total return of 2.5x for Albion's venture capital trust investors.

Albion first partnered with Berkley Care in July 2014, when it invested £16m in two UK-based care homes for the elderly, situated in Oxford and Greater London, to be managed by Berkley Care Group. Albion and Berkley each owned a 50% stake in the newco.

Albion's capital was drawn from the Albion VCT Trust, Kings Arms Yard VCT and Crown Place VCT funds. Additional funding was provided in several further tranches.

The facilities sold to Korian have a total of 201 beds and provide care for elderly and fragile people.

Headquartered in France, Korian manages 1,000 care facilities across six European countries. The business has recently acquired Spanish mental health clinics operator Ita Mental Health from private equity firm Magnum Capital.

Company
Berkley Care operates six facilities across the south, south-west and Midlands regions of England, offering care services for the elderly.

People
Albion Capital – Emil Gigov (partner).
Berkley Care Group – Seamus Halton (founder, executive chair).

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• Topics
• Exits
• UK / Ireland
• Healthcare
• Albion Ventures
• United Kingdom
• Trade sale