Brokered deal between LNT Group and Anchor

RNS Number : 1534Y

Christie Group PLC

04 September 2015

 

4 September 2015

Christie Group plc

Christie + Co broker £100m+ deal between LNT Group and Anchor

Christie Group plc ('Christie Group' or the 'Group'), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, is pleased to announced that Christie + Co, its specialist provider of agency and advisory services, have brokered a deal between LNT Group and Anchor for the purchase of 24 residential care homes in a deal worth over £100m.

Christie + Co have longstanding strong relationships with both Anchor and LNT Group and was able to leverage that knowledge to identify the opportunity to create a deal. Anchor will take on 24 homes previously run by LNT Group subsidiary Ideal Carehomes. Anchor also recently acquired two further new build turnkey homes. All of the homes were sold on a freehold basis after the freehold interest in seven leasehold properties was simultaneously acquired from landlord Quercus.

The strategic deal benefits both Anchor and LNT Group, building on synergies between the two companies and provided a unique opportunity for Anchor to acquire the largest residential only, purpose built care home portfolio in the UK, further enhancing their own market leading position. 

Richard Lunn, Head of Care at Christie + Co comments: "The sale is one of the largest deals of the year and demonstrates that whilst the overall care sector is facing challenges, including the national living wage, there is still much appetite within the sector for high quality future-proof residential homes."

Enquiries:

Christie Group plc
David Rugg Chief Executive	020 7227 0707
Daniel Prickett Chief Financial Officer Fiona Fieldhouse Christie + Co Media Relations Manager	020 7227 0700 020 7227 0794
Charles Stanley Securities Nominated Adviser & Broker Russell Cook	020 7149 6000

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 46 offices across the UK, Europe and Canada, catering to its specialist markets in the leisure, retail and care sectors.

Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - Christie + Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

For more information, please go to www.christiegroup.com.

 

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