August buys The Old Deanery Care Village

The GP invested via August Equity Partners III, which held a first close on £100m in June this year. The fund has a £180m target. The deal is the second completed via the vehicle, following the investment in Minerva Education in July.

The transaction was sourced off-market.

Company
The Old Deanery Care Village comprises two care homes, the Old Deanery and St Mary's Court, on a 10-acre site. The Old Deanery is a 93-bed home focused on older patients with dementia and special disabilities. St Mary's has 90 beds and operates specialised care services including young onset dementia.

People
Philip Rattle, managing partner at August, worked on the deal alongside partner Aatif Hassan. The firm's management team is led by Charles Auld, former chairman of August portfolio companies Healthcare Homes Group, Enara Group and Active Assistance.

Advisers
Equity – Shoosmiths, Emma Gibson, Nina Smith (Legal); Hazlewoods, Richard Dade (Financial due diligence); BDO, Adam Frais (Tax); Candesic, Leonid Shapiro (Commercial due diligence); Nexus Corporate Finance, Andrew Barnsley (Corporate finance); Gallagher Heath, Peter Casciani (Insurance due diligence).

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• Topics
• UK / Ireland
• Healthcare
• Buyouts
• United Kingdom
• August Equity LLP