Christie Group PLC Embrace's care home portfolio sold to Sanctuary
June 19 2017 - 8:23AM
RNS Non-Regulatory
TIDMCTG
Christie Group PLC
19 June 2017
19 June 2017
Christie Group plc
("Christie Group" or the "Company")
Christie & Co sells Embrace Group's care home portfolio to
Sanctuary Group
Christie Group plc (CTG.L), the leading provider of Professional
Business Services and Stock & Inventory Systems & Services
to the leisure, retail and care markets, is pleased to announce
that Christie & Co, its specialist provider of agency and
advisory services, has successfully brokered the sale of a
portfolio of 35 care homes on behalf of Embrace Group.
In one of the largest deals of the year so far in the sector,
Christie & Co has sold the portfolio of predominantly
purpose-built care homes to Sanctuary Group in an off market deal.
The homes, based across the Midlands, North West, North East and
Scotland are focused on both elderly residential and nursing care
plus an element of specialist care, comprising a total of 1,650
beds and one supported living business.
The purchase by Sanctuary Group strengthens their national
presence, particularly in the North and Scotland.
Martin Gould, Head of Brokerage for Care at Christie & Co,
commented; "Having worked with Embrace over the past few years,
this off market transaction is the culmination of our strong
relationships. The sale demonstrates the strength and appetite for
well performing portfolios that meet a strong compliance
level."
Trish Lee, Chief Executive Officer of Embrace Group said; "Our
priorities throughout have been to find the right organisation to
take these services forward, and to ensure minimal disruption to
the people supported and to the dedicated staff teams. Sanctuary
Care shares our values of treating people with respect and dignity,
and our commitment to providing the highest quality care and
support. I would like to thank the team at Christie & Co for
their expertise in helping Embrace and Sanctuary Care to navigate
this process so effectively, with a real emphasis on minimising
disruption for the people we support."
David Bennett, Sanctuary Group's Chief Executive, said; "Embrace
Group shares with Sanctuary a commitment to good quality care for
older people and has built a strong network of care homes with a
workforce of highly motivated employees. We were attracted to this
exciting opportunity because it will enable us to make an even
greater difference to the lives of older people around the country
and will further our charitable objective.
"We have assembled our existing care portfolio through a mixture
of acquisition, development and self-build and as such, we have
extensive experience of integrations of this nature. We believe
that experience combined with a complete dedication to caring for
older residents will ensure that these homes are seamlessly brought
into Sanctuary. Sanctuary is committed to putting kindness at the
heart of our care for older people, giving them and their families
beautiful environments within which they can live fulfilled and
happy lives."
Enquiries:
Christie Group plc
Richard Lunn 020 7227 0716
Managing Director - Care, Christie & Co
David Rugg 020 7227 0707
Chief Executive
Dan Prickett 020 7227 0700
Chief Financial Officer
Panmure Gordon (UK) Limited:
Dominic Morley / Charles Leigh-Pemberton 020 7886 2906
Nominated Adviser & Broker
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional
business services group with 45 offices across the UK, Europe and
Canada, catering to its specialist markets in the leisure, retail
and care sectors.
Christie Group operates in two complementary business divisions:
Professional Business Services (PBS) and Stock & Inventory
Systems & Services (SISS). These divisions trade under the
brand names: PBS - Christie & Co, Pinders, Christie Finance and
Christie Insurance: SISS - Orridge, Venners and Vennersys.
Tracing its origins back to 1846, the Group has a long
established reputation for offering essential services to client
companies in agency, valuation services, investment, consultancy,
project management, multi-functional trading systems and online
ticketing services, stock audit and inventory management. The
diversity of these services provides a natural balance to the
Group's core agency business.
For more information, please go to www.christiegroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 19, 2017 09:23 ET (13:23 GMT)
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