Care home provider looks to capitalise on industry fragmentation

Thu, 13 Apr 2023 | Business Information

Care home provider looks to capitalise on industry fragmentation

North East-based mostly treatment company Hark Team Holdings has reported it is trying to find to go on to expand through acquisitions as it capitalises on fragmentation in the Uk care sector. Above the last yr, acquisitions have helped the enterprise to treble in dimensions.

In the previous 12 months, the company has acquired the small business and belongings of Sunderland treatment house Cedar Dwelling, as properly as the entire issued share money of Thorncliffe Care Minimal, which operates the Thorncliffe Property treatment house in Sunderland (pictured higher than).

Hark Group labored with Mincoff Solicitors and accountancy and company advisory Azets on the discounts, with funding furnished by Allica Financial institution. The group’s leadership suggests it is aiming to function with both of those Mincoff and Azets on long term M&A specials.

Hardip Kang, director and owner of the Hark Group, who established the enterprise with his spouse Rupinder Kang, commented: “Our growth and advancement this past yr was significantly assisted with the know-how, knowledge and eye for depth from Chris Hughes and all the team at Mincoffs.”

“It is really the type of reassurance a rising organization needs when seeking to realize their expansion targets. Lee Humble and the workforce at Azets offered me with the economic tips and aid to speed up the momentum desired to get the offer more than the line. I look forward to doing the job with equally all over again for any doable upcoming acquisitions.”

Mincoff Solicitors Corporate Spouse Chris Hughes mentioned: “It has been great to perform intently with the two Hardip and the workforce at Hark and with Lee and the crew at Azets to provide Hark Group Holding’s vision for the North East care sector.”

“Thorncliffe Household and Cedar Property Treatment Residence are amazing additions to Hark’s portfolio and it has been a enjoyment to assist the group in acquiring these two business enterprise, so it can keep on to present essential, leading quality, treatment across the location.”

Azets Corporate Finance Partner Lee Humble extra: “It has been a pleasure to do the job with these kinds of a strong crew with a compelling development eyesight. I am enthusiastic to see what the potential retains for the Group, and we are delighted to be portion of their journey.”

Fragmentation and a large number of owner exits because the COVID-19 pandemic have driven a growth in dealmaking in the care sector and Lee Humble noticed: “The sector is incredibly energetic at current, and we are usually eager to support aid transactions for enterprises like Hark.”

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