Cooper Parry Corporate Finance have completed another high-profile healthcare deal, advising the shareholders of Tanglewood Care Homes on the sale of its six care homes to Elevation Healthcare Properties (EHP), with Browne Jacobson’s Nottingham team acting as the legal advisers.
Established in 1989, Tanglewood is an award-winning, Lincolnshire-based care home group. Recognised for thirty years of excellence in the area, Tanglewood currently employs over 550 people and supports 400 residents across the six care homes.
This is the fifth acquisition completed by EHP – a real estate fund advised by Elevation Advisors LLP. Following the deal, Tanglewood’s co-founder and director, Tracy Ann Shelbourn, will leave after a period of transition.
Tracy Ann Shelbourn, said:
“Tanglewood is first and foremost a family and I’m so incredibly proud of what we have achieved together over the last three decades. So many different people from all corners of our community have been pivotal to our many successes. I have been truly inspired by our incredible team members – past and present – across the group; their dedication to our residents knows no bounds. Most of all, I am grateful to all the Lincolnshire families who have been part of our journey over the past 30 years and have helped make Tanglewood communities the happy places they are.”
Hunter Drew, Partner at Elevation, said:
“We are delighted to add Tanglewood to EHP’s growing number of operator relationships. Tanglewood is a leading regional operator with an excellent track record of care and wellbeing for its residents. The acquisition will ensure continuity for Tanglewood’s staff and residents and will provide the business with capital for further growth. This transaction is a further example of how Elevation can bring flexible capital solutions to support the growth of its operating partners.”
Ben Rookes, Partner at Cooper Parry Corporate Finance, said:
“We are delighted to have acted on another high-profile healthcare transaction in the East Midlands. Tanglewood is a fantastic local success story and major Lincolnshire employer. The sale to Elevation is a great opportunity for the Tanglewood team to continue to build on a very successful business renowned for providing high quality residential care.”