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Connell C - LB Mar 2022

Tristone Healthcare secures £20m royalty financing

Tristone's Rob Finney, Yannis Loucopoulos and Phil Ledgard
From left: Tristone’s Rob Finney, Yannis Loucopoulos and Phil Ledgard © Darren Robinson Photography

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 stated that its strategy is to acquire high-quality businesses with strong fundamentals, delivering outstanding care and support to vulnerable people who need it most.

Through its royalty financing Duke Royalty supports management teams and, as a minority investor, allows business owners to retain control and focus on growth. 

Tristone founder and chief executive 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’s chief information officer Peter Madouros added: “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 Capital was advised by Blacksquare Advisory (corporate finance), Moore & Smalley (financial due diligence) and St John’s Legal.

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