Last checked at 17 Nov 2014 15:34
The following announcement was released earlier today. The heading should have stated that this was a £0.5bn transaction. The body of the text is correct and remains unchanged.
17 November 2014
Christie Group plc
("Christie Group" or the "Company")
Christie + Co advises Care Group in £0.5bn transaction
Christie Group plc (CTG.L), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, is pleased to announce that Christie + Co, its specialist provider of agency and advisory services, has successfully advised on a £477m transaction in the care sector.
HC-One was created by NHP and Court Cavendish in November 2011 out of the largest part of the former Southern Cross portfolio. It is now the third largest care home operator in the UK, providing dementia, nursing, residential and specialist care for over 10,000 residents.
Christie + Co has been advising HC-One since its inception in 2011. In this transaction, Formation Capital has acquired the NHP business whilst retaining the HC-One operating vehicle, with debt being provided by HCP.
Martin Robb, Director at Christie + Co said: "We are delighted to see this deal now completed and pleased that Christie + Co has been able to support HC-One, Formation Capital and HCP through this process. The deal sees HC-One well positioned to exploit further opportunities in the market."
Enquiries:
Christie Group plc
David Rugg 020 7227 0707Chief ExecutiveDan Prickett 020 7227 0700
Chief Financial OfficerNicole PerryChristie + Co Head of Media Relations 020 7227 0794
Richard Lunn 020 7227 0716Christie + Co Head of Corporate HealthCare
Charles Stanley Securities:
Russell Cook / Carl Holmes 020 7149 6000
Nominated Adviser & Broker
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional business services group with 44 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.