AN OPERATOR of care homes in Wales has expanded its portfolio with a triple acquisition from Priory Group.
Caron Group has acquired purpose-built sites in Aberdare, Ammanford and Swansea in a deal brokered by specialist business property adviser Montane Care. Financial terms of the transaction are undisclosed.
The deal takes the number of Caron Group’s care homes to 17, all of which are in south and mid-Wales.
The acquired homes are Parc Wern in Ammanford, Carmarthenshire, The Beeches in Aberdare in the Cynon Valley and St Mark’s Court in Swansea. The homes provide nursing and dementia care as well as palliative and respite care.
Between them they have 142 bedrooms in total, with 59 at Parc Wern, 45 at The Beeches and 38 at St Mark’s Court.
Caron Group was founded in 2002 with the acquisition of its first two care homes in Swansea. Caron means ‘loving’ or ‘kind’ in Welsh and is derived from the word caru, which means ‘to love’.
Chariman Sanjiv Joshi said: “We are delighted with the acquisition of St Mark’s Court, The Beeches and Parc Wern care homes and look forward to integrating these homes into Caron Group.”
Priory Group is divesting of a number of older people care homes, and in recent months Montane Care has brokered several transactions on its behalf, including the sale of Cooper House in Bradford to Strong Life Care, and Abbey Court in Bourne, Lincolnshire, and Avondale in Motherwell to Maven Healthcare.
Montane Care director Anthony Rae said: “We are pleased to have successfully undertaken the sale of Parc Wern, The Beeches and St Mark’s Court to Caron Group, an experienced regional operator.
“The homes proved an attractive acquisition opportunity and it was a pleasure to receive multiple offers in a short period of time.”