UK - Graphite completes £53m Willowbrook acquisition

Willowbrook is a new company aiming to develop premium quality nursing and dementia care homes across the UK. It will trade under the name Avery Healthcare, a former portfolio company sold by graphite to Southern Cross in 2007 for £96.5m, but whose name it retained. Also trading under the Avery name will Optimum Care, another of care home provider owned by Graphite.

Graphite provided £23m of equity, while Royal Bank of Scotland, Allied Irish Bank and Bank of Ireland supplied a £30m debt package to support the transaction.

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• Topics
• Buyouts
• UK / Ireland
• Healthcare