RMT Accountants’ Corporate Finance Team Expands on Back of Successful 2018
April 2, 2019
An experienced care professional is set to combine her healthcare and business expertise after acquiring a County Durham residential care home.
Elaine Reay has been managing the Langley House Residential Care Home in Horden near Peterlee through her care consultancy Resolve Care for the last four years on behalf of the Durham Aged Mineworkers Homes Association.
She has now acquired the 26-bed property from the charity with a view to extending the care services it provides to residents out into the local community.
And Elaine is also looking at further care home acquisition opportunities across the North East as part of plans to build a wider healthcare group across the region.
Michael Cantwell and Matthew Flinders of RMT Accountants & Business Advisors worked with Elaine on all aspects of the acquisition, while legal advice was provided by Craig Malarkey, partner in Corporate & Commercial Team at Tilly Bailey & Irvine LLP.
Langley House is a purpose-built single storey nursing care home situated in the centre of Horden, close to all local amenities, and is run by a 35-strong team. Most of its residents live there on a permanent basis, but it also offers two respite care beds.
A nurse by training, Elaine Reay has been working in the healthcare sector for more than 30 years. She moved into the private sector in the mid 1990s and established her own care consultancy ten years ago to provide bespoke care planning, management and consultancy services to a range of industry clients.
Elaine Reay says: “Langley House is a high quality facility run by an excellent team, and having managed for the last four years, we know both the property and the people living and working there very well.
“When the opportunity arose to take it on, it seemed like a very natural step to take, and it’s exciting to have now completed the purchase.
“We’ll be maintaining our links with the Durham Aged Mineworkers Homes Association, and will be looking to extend the services that we offer within Langley House out into the local community, so that older local people can also get the support they need within their own homes.
“We believe there are also opportunities to build a small group of residential properties within the region through which we can provide a consistent level of high quality care services, and we’re now actively looking at further acquisition options.
“The advice and guidance I’ve had from both RMT and TBI has been absolutely first class. Their support has been central to making this acquisition plan a reality and they helped take all the worries right out of the purchase process.”
Michael Cantwell, head of corporate finance at RMT Accountants, adds: ” Elaine has both a hugely impressive industry track record and a real passion for providing the best possible support for the people in her care, and we’ve been working with her for many months to ensure everything about this acquisition went as smoothly as possible.
“Langley House and its residents are in extremely safe hands and we’re pleased to have played our part in enabling her to make this acquisition, as well as to be supporting Elaine as she plans her next move.”
Craig Malarkey, partner in the Corporate & Commercial Team at Tilly Bailey & Irvine LLP, says: “It was a pleasure to work with Elaine and Michael on this transaction. Elaine clearly has the residents’ interests at heart and it was our job to ensure the process went as smoothly as possible to allow her to focus on continuing to provide the best possible service to the residents.
“I am pleased that we have managed to achieve this and that Elaine can take the business forward with the exciting plans she has in place. “