Quantuma sells nursing home out of administration

12 November 2020 Consultancy.uk 1 min. read

Consultants from Quantuma have completed the sale of a Welsh nursing home for more than £2 million. The deal follows the home’s owner, Gwent Nursing Homes, placing itself into administration more than a year ago.

Quantuma Managing Director Chris Newell, who was a joint administrator of Gwent Nursing Homes, said, “We have been trading Caerleon House Nursing Home since being appointed as administrators in August 2019. During this period, we have successfully turned the business around, improving occupancy and profitability.”

Gwent Nursing Homes, which traded as Caerleon House Nursing Home, went into administration last year following what the administrators called "a period of financial instability.” Located in the heart of the village of Caerleon, Newport, the nursing home is registered for 54 clients.

Quantuma sells nursing home out of administration

As the company folded, it appointed Newell, alongside fellow Quantuma experts Graham Randall and Paul Zalkin, to secure the future of the home. It operated successfully under Quantuma’s instruction, despite the Covid-19 pandemic, and having received strong interest from a number of existing care home providers and investors, Quantuma was eventually able to agree a sale to Bal and Bindu Brainch. The new ownership also acquired Pentwyn House Nursing Home in Marshfield, Cardiff, in February 2018.

Newell added, “This has not only led to securing the long-term future for the business, but also brought peace of mind to the residents, their families and staff during an otherwise uncertain time. This is a huge success for all involved and we are delighted to have sold to the new owners who are well-positioned to take the business through its future endeavours.”

The purchase was funded by Cynergy Bank, while Blake Morgan supplied Quantuma with legal services, and Elliot Mather represented Bal and Bindu Brainch. Specialist business property advisor Christie & Co also advised on the sale, which completed for a guide price of £2,550,000.