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RMT Accountants’ corporate finance team has advised on Lenore Care’s acquisition of the 34-bedroom Melbury House residential care home in Dawdon, County Durham.
Michael Cantwell and Julie Cuthbertson from the firm worked on the transaction and were introduced to Lenore Care by Michael Wicks, relationship manager at Unity Trust Bank.
Originally a vicarage, the main part of the property dates back more than a century and retains many of its original features, including stained glass windows in the main lounge and a feature central staircase.
Lenore Care now has four North East residential and dementia care homes and expects to make further regional acquisitions over the next five years.
The 47-person team at Melbury House will all be retained. The company currently has a staff headcount of 115 across all of its properties.
Jack Jenkinson, owner of Lenore Care, said: “We’re adding a successful business to the Lenore Care portfolio, as well as inheriting a great deal of goodwill.
“Our growth plan for Lenore Care is to make further acquisitions in the next five years as and when the right properties come along in the right regional locations.”
Michael Cantwell, head of corporate finance at RMT, added: “Being able to introduce the sellers of Melbury House to Jack and Grace, and to then support the completion of a transaction where both the purchaser and vendor are so well matched, is especially satisfying.
“The couples’ respective ambitions and priorities matched extremely well, and we’re very pleased to have helped this deal reach a successful conclusion.”
