Joe Quiruga sits down with Antony Brister, chief financial officer at Aria Care, to find out more about the social care market, Aria’s acquisition of Future Care Group, and its growth plans for 2025 and beyond

Antony Brister

The elderly care sector faces headwinds from rising labour costs, as do many other UK businesses.

Recent rises to National Insurance and the National Living Wage have hit care businesses, with cost rises equivalent to employing a significant number of new care team members full time.

Yet international investors, most notably Welltower, retain a strong interest in the sector.

And Brister believes the dynamics and potential for growth are extremely strong.

He said: “Financial institutions and investors are already committed to the UK market, which is significantly attractive to both UK and overseas investors as an excellent long-term investment.

“Demand for care remains strong and the sector is forecasted to grow as the age profile of the UK population shifts driving the need for new care homes.”

Aria’s owners point to their capital investment as a sign of their commitment to the sector.

Aria has invested £25m in the estate, aiming to improve the quality of the homes and the resident experience.

Financial institutions and investors are already committed to the UK market, which is significantly attractive to both UK and overseas investors as an excellent long-term investment

It also acquired Future Care Group’s 18 homes in July 2024.

Aria embarked on a six-month integration strategy before fully merging the two brands in January this year.

Brister explained: “I think that period allowed us to really understand what we’d acquired and understand some priorities for investment as well.

“You can do all the due diligence in the world, but you need to own the business for a while before you can really understand it.

“Future Care really stood out among the opportunities in the market because it was such a good fit with the Aria portfolio in terms of both overall group and home size, locations, fees, and resident mix between funded and self-pay. These were foundational to a good integration.

“We were consultative and transparent throughout the integration period and we’re particularly proud to have retained those home managers who were in place when we acquired the business, so I think we’ve done that successfully.”

You can do all the due diligence in the world, but you need to own the business for a while before you can really understand it

He added: “Looking ahead, we’ve learned so much through the Future Care transaction and integration that we are well placed for further acquisitions where we see an opportunity as well as an alignment to Aria.

“This is certainly part of our road map as well as organic growth; we’ve started work on new builds in Orpington and Fareham and fully expect to have six plus sites in progress by the end of the year.

“The portfolio currently stands at 67 homes, with a vision shared by the owners and leadership to expand to 100.”