Buy and build social care investment group, Tristone Healthcare, has received £20 million of funding from Duke Royalty to support its long-term growth ambitions. The capital will be used to refinance Tristone’s existing facilities, as well as supporting current investments and future acquisitions.
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.
Through its innovative royalty financing, capital partners Duke Royalty support strong management teams with a strong track record of successful operations and healthy revenues. As a minority investor, Duke Capital’s model allows business owners to retain control and focus on growth.
Tristone founder and CEO, Yannis Loucopoulos, said: “We were looking for a funding partner that shared our values and vision for building a group of care businesses with a long term, care-centric focus which prioritises delivering outstanding care and support.
“The long-term, non-controlling characteristics of this financing was compelling as it enables us to focus on what we do best without any refinancing risk or having to compromise our values or approach. We look forward to working with the team to deliver our shared ambitions.”
Duke Royalty CIO, Peter Madouros, said: “We are excited to be partnering with Tristone in the specialist care space. There is a growing need for high-quality operators in Tristone’s target markets and the team have a proven track record growing capacity while delivering outstanding care.”
Tristone has built a strong pipeline with several acquisitions in progress and this deal will assist Tristone in delivering its growth plan.
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 industry’s leading figures who are responsible for observing and overseeing care and safeguarding matters for Tristone Healthcare’s community of businesses.