Gresham House acquires New Century Care
London-based alternative asset manager Gresham House has acquired New Century Care, a care home provider for the elderly, for £21 million, according to online reports.
The investment was made by Gresham House’s second sustainability fund, BSIF II, in partnership with specialist care and education provider Salutem, which operates more than 130 sites across England and Wales covering 150 different funding bodies.
New Century Care caters to almost 300 elderly residents across six sites in the South of England and Scotland. Under Gresham House’s ownership and management, its capacity will increase, as will its offer which will include specialist dementia care.
Connell Consulting produced the commercial due diligence report for this transaction for Gresham House and Salutem Healthcare.