Gowling WLG has advised Montreux Healthcare Fund on its acquisition of neuro rehabilitation business Christchurch Group.
The acquisition will add £3.6m earnings before interest, taxes, depreciation, and amortization (EBITDA) to Montreux Healthcare Fund's portfolio with capacity of 136 beds.
The Christchurch Group is headquarted in Northampton and comprises ten facilities with 98% of the beds being freehold. Its services are Headway accredited - the only provider in the country to receive this accolade across all of its sites, with all facilities expected to be rated Good or Outstanding by the Care Quality Commission.
Gowling WLG corporate partner Hugh Maule and Legal Director Neil Hendron led on the transaction, supported by associate Chelsie Taylor.
Hugh said: "We are pleased to support long-standing client Montreux Healthcare Fund on the acquisition of Christchurch Group. The Fund has been extremely acquisitive during 2019 and we are pleased to have supported its latest expansion."
Montreux Healthcare Fund said Christchurch Group will deliver considerable value to the wider group, with several key staff retained at a senior level. The acquisition offers the opportunity to drive forward occupancy and offers plans for expansion of 22 additional organic beds in the short term.
Oliver Harris, CEO, Montreux Capital Management said: "The Christchurch Group acquisition is a step forward in the Montreux Healthcare Fund's strategy, providing 136 high quality care beds with further expansion planned in the medium term. My team and I have worked hard to secure this acquisition in a short time frame and believe this will deliver good value to our investors."