This post first appeared in LV Care Group’s Partnership with Emera and Aedifica.
Carey Olsen, working alongside Cains, acted as lead counsel on the transaction, supporting LV Care Group and the company’s investor, RoundShield, an independent private investment firm.
LV Care Group has entered into a new partnership with two European healthcare focused organisations in order to develop its care home and social care provisions for Jersey and the Isle of Man.
The transaction involved the acquisition by Emera Group, one of Europe’s leading care groups, of a majority equity stake in the operating group with local founders, Nick Bettany (CEO) and Chris Shelton (COO), remaining as co-owners.
At the same time, Aedifica, a Belgian regulated real estate company listed on Euronext Brussels and Amsterdam, which is a specialised investor in healthcare real estate with a portfolio in excess of €5 billion, acquired several of the group’s properties in Jersey and the Isle of Man.
The portfolio of care homes currently houses 237 residents, but extension and internal redevelopment works to be carried out during the course of this year at several of the sites will see that accommodation total rise to 289 residents in fully en-suite single bedrooms.
The group will continue to operate the care homes, community care services, the LV Pharmacy, and L.I.N.C Mental Health & Wellbeing.
The Carey Olsen team was led by partner David Taylor (Picture), principally assisted by associate Steven Khan. The real estate team comprised partner Chris Philpott, counsel Will Whitehead and conveyancer Eleanor Witterick, with finance support provided by counsel Lizzie Chamberlain and associate Connor Alexander. Cains provided local corporate law and real estate advice in the Isle of Man.
The Cains teams were led by partner Scott Leonard-Morgan with support from managing associate Alex Poole-Wilson and associates Kirsten Porter and Holly McGarrigle.