North Somerset care home sale arranged by Milsted Langdon’s corporate finance team

January 16, 2020

The Bristol-based corporate finance team of South West accountancy firm Milsted Langdon has completed the sale of a care home in Clevedon.

Oak Tree Lodge owners Richard and Sue Pike sold the family-run care home for an undisclosed sum after deciding to retire.
The Pike family successfully built up the profitable and highly regarded home – a Victorian detached house in an elevated position with 34 client bedrooms over three floors, pictured – gaining a reputation for delivering excellent quality care. The business traded with a mix of self-funded and local authority-funded clients.

The sale – to established care home services business Manor Community – was made through property advisors Christie & Co.

Soundwell, Bristol-based Manor Community, which was launched in the 1990s by psychiatric nurse Muriel Chester, runs two care homes in the city along with a range of other social care services including supported living and homecare and community outreach.

Manor Community director Deian Glyn said: “This acquisition was a natural fit for us and we’re looking forward to working with the team to continue delivering high-quality, person-centred care at Oaktree Lodge.

“Milsted Langdon provided expert guidance through a number of complexities on this transaction. [Corporate finance manager] Olly Pullin’s excellent technical knowledge, coupled with a friendly, easy going manner and strong commercial acumen was a tremendous help in getting us to a fair deal for all parties.”

Olly Pullin, pictured, added: “It was a pleasure to work on this project and it is always very rewarding to take a deal to completion where all parties are satisfied with the result. I wish Deian and the Manor Community team every success with their new acquisition”.

Milsted Langdon, which also has offices in Bath, London, Taunton and Yeovil, offers a large range of services for businesses from routine compliance matters to specialist tax advice and planning, corporate finance, business intelligence, insolvency, forensic accounting and mediation services.

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