RDCP Care has completed the acquisition of Nottingham-based Monarch Healthcare for an undisclosed sum.

The deal strengthens RDCP Care’s position as a top 10 tier healthcare operator in the Midlands, with 1,200 employees.

Following the acquisition, RDCP Care will operate a £100m freehold nursing home portfolio, managed by Rosie Howell as chief executive.

This consists of 21 freehold nursing homes under ownership, and 883 beds under management.

RDCP Care completed its first acquisition in 2016 of Kings Bromley Care Home and since this time has grown significantly under the management of Sameer Rizvi, Iryna Dubylovska, and Howell.

Further acquisitions followed of Birmingham-based Dignus Healthcare, Wolverhampton-based Coton Care, and now Monarch Healthcare.

Monarch Healthcare is headquartered in Nottingham and provides personalised care, with specialised services in nursing care, residential care, and dementia care across 13 care and nursing homes, located across South Yorkshire, Lincolnshire, Derbyshire, Nottinghamshire, and Staffordshire.

The team offers short-term, respite, and long-term residential care.

Monarch Healthcare employs 850 and has a turnover of £25m and EBITDA of £6m.

Outgoing shareholders, Angela Bir and Hiten Shanghavi will work as consultants for Monarch Healthcare and will work collaboratively over the coming months with Howell to deliver growth across the group.

Howell said: “Monarch Healthcare is an attractive business with an impressive portfolio with a real focus on personal care.

“I’m delighted to welcome the team to the RDCP Care. It will be business as usual for the employees and elderly residents, ensuring no business disruption of any nature.

“The synergies between both our businesses are evident and we now have a fantastic opportunity to work together to deliver further growth and continue to deliver exceptional quality of care.”

Rizvi, founder and chief executive of RD Capital Partners, added: “When Iryna Dubylovska and I founded RD Capital Partners in late 2015, we launched RDCP Care shortly after as our dedicated healthcare platform focused on investing in and operating elderly care homes across the UK.

“Our first acquisition was Kings Bromley Care Home in 2016, where we also welcomed Rosie Howell – employee number three – who has played a pivotal role ever since and became chief executive of RDCP Care in 2019.

“Since then, we’ve built a strong and resilient platform through the acquisitions of Dignus Healthcare and Coton Care, growing RDCP Care to eight freehold nursing homes.

“Today, with the acquisition of Monarch Healthcare, we are proud to expand our portfolio to 21 homes and 883 beds under management, firmly establishing RDCP Care as one of the top 10 elderly care operators in the Midlands.”

Finance for the deal was provided by Barclays, represented by Julian Kilsby, Edward Hastrop, and Steve Fergus.

Founded in 2015 by Sameer Rizvi and Iryna Dubylovska, RD Capital Partners (RDCP) is a diversified investment group with an enterprise value of $650m, generating $405m in annual revenue and $42m in EBITDA, and employing over 2,000 people across multiple sectors in the UK.

RDCP Care, a wholly-owned subsidiary of RDCP, is a leading elderly care provider operating 21 freehold nursing homes with 883 beds.

With a presence across the Midlands and beyond, it is now recognised as one of the top 10 elderly care operators in the region.

RDCP deal team:

RDCP: Sameer Rizvi, Iryna Dubylovska, Martin O’Donoghue, and Rosie Howell

Lending Partner: Barclays

Legal Advisors: Sheridans and HCR Law

FDD Advisors: Kent Finance

Sale Advisors: Grant Thornton