Tue, 27 Jul 2010 | BUSINESS SALE
Mental health service operator, Care Principles, has been put up for sale by its owner Barclays Capital.
Four Seasons Healthcare is currently in talks to acquire the business of Care Principles, considered to be a good fit for Four Seasons’ division Huntercombe Group, which runs care homes specialising in mental health problems, brain injury and care of children with special needs.
Four Seasons is working to finalise an extension on its debt repayments that will enable it to purchase the business. 75 per cent approval is needed from its bondholders, or Care Principles will be auctioned off instead.
Barclays Capital supported Three Delta in its purchase of Care Principles in 2007 for a total of £270 million. Barclays took control of the care operator last year, however, when Three Delta struggled under the weight of hefty debts.
Barclays wrote down the value of the Suffolk-based business by over £200 million in 2009. For the year to April 2009 profits stood at £4.5 million.
Founded in 1997, the service has 1,500 staff attending to 430 beds in 16 homes and hospitals in the UK.
The company is a supplier / installer of lightweight roofs, internal insulation and double glazing for conservatories, offering a wide range of related services.
Having been established for many years, this commercial van dealership has built a superb reputation.
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This long established Commercial Cleaning Business has been operating for 40 years employing circa 80 staff with 96 regular clients ranging from schools, medical facilities, offices etc within a 10-15 mile radius of the operation centre.
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