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Cornerstone Healthcare

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Cornerstone Healthcare

Cornerstone Healthcare

We have recently acted for management buy in team on their investment into Cornerstone Healthcare Group Limited, the vehicle formed by Ignite Growth LLP and Kvika Securities Limited to acquire South Africa Lodge Holdings Limited and Kitnocks Specialist Care Limited.

South Africa Lodge and Kitnocks Specialist Care operate specialist residential care homes providing nursing care to adults with neurological, physical and mental health conditions coupled with challenging behaviours; together the two homes provide accommodation for up to 154 residents and are situated close to the south coast in Hampshire.

Johann van Zyl, newly appointed CEO of Cornerstone Health commented “It was to be expected that as a management buy in, this project would not be easy and that management would require more than just “off the shelf advice”. On behalf of the management team, EMW handled all negotiations with our equity investors to ensure we, as the original visionaries of this project, obtained a deal that we deserved and that exemplified the huge potential and future of Cornerstone Healthcare. With their wide range of expertise ranging from property advice, employment law and concluding the complex equity negotiations, EMW actually allowed us to concentrate on due diligence so that we could close the deal on time”

Our healthcare team was led by Principals Joe Soul and Ian Morris with support from Legal Director Sophie Clarke from our employment team. Corporate Finance advice was provided by Justin Crowther at Alantra.

Ian Morris commented, “we were delighted to have worked with Ignite Growth,Kvika and the management team on another healthcare transaction that further strengthens our increased presence and expertise in this sector. We congratulate all concerned on completion of the acquisitions and look forward to working with the new group as it pursues its ambitious plans for future growth”

For more information on this deal, please contact Ian Morris, or you can give us a call on 0345 070 6000.