Buy and build social care investment group, Tristone Healthcare, has announced the acquisition of Essex-based Seaside Care Homes Ltd. This follows the news that the investor has the backing of £20 million of funding from Duke Royalty, which has supported this transaction.
Seaside Care Homes was founded in 2008 and specialises in providing exceptionally high-quality residential care for young people with a variety of complex care needs. With renewed funding, Seaside Care Homes will be able to expand its operations by opening a second home.
Tristone Healthcare’s strategy is to acquire high-quality businesses with strong fundamentals, delivering outstanding care and support to vulnerable people who need it most. The team has quickly built a reputation in the market for its specialism to acquire and grow high-quality social care companies.
Tristone founder and CEO, Yannis Loucopoulos, said: “We’ve been speaking to the team at Seaside Care Homes for a couple of years and have admired the way they’ve built the business. We understand the passion, talent and dedication which has gone into making Seaside such a success to date and look forward to working with the team in its new chapter of growth. For Tristone, it’s fantastic to expand our geographical footprint further into the south as we continue to back businesses right across the UK.”
Seaside Care Home founders Amanda Owen and Sarah Crow will exit the business in coming months, which will continue to be led by a strong and capable management team. Commenting on the deal, Amanda Owen said: “When we were considering the long-term succession planning for the business, we knew we needed a partner with deep sector expertise and experience so we could have the confidence Seaside Care Homes would be in safe hands.”
Founder, Sarah Crow added: “Tristone has demonstrated an exceptional track record and as a result of today’s announcement, we will be able to provide more vulnerable young people without compromising on the outstanding levels of care we have built the business on to date.”
Tristone adds significant value to its community businesses beyond investment through initiatives such as its independent safeguarding board. The board is made up of seven of the industry’s leading figures who are responsible for observing and overseeing care and safeguarding matters for Tristone Healthcare’s community of businesses.