RMT Accountants Scaling up With Nine New Recruits
September 13, 2019
A North East care professional has completed her second residential care home acquisition six months after her first – and she is already on the lookout for further similar properties to add to her growing business.
After acquiring the Langley House Residential Care Home in Horden near Peterlee last year, Elaine Reay has now bought the Carntyne Residential Care Home in Hexham through her consultancy Resolve Care.
Elaine was approached about taking on the 19-bed property by its founders, the Sisters of Mercy in Sunderland, who wanted to ensure it could have a sustainable future and could continue to provide great care to its residents.
Carntyne is run by a 35-strong team, all of whom are being retained by the home’s new owners, and it takes the number of people employed by Resolve Care to around 120.
Michael Cantwell of RMT Accountants & Business Advisors worked with Elaine on all aspects of the acquisition, while legal advice was provided by Craig Malarkey, partner in the corporate & commercial team at Tilly Bailey & Irvine LLP and advice on personnel matters by Michael Dobson of MD Advisory Services.
The Sisters of Mercy were advised on the disposal by Emma Moody, partner and head of charities at Womble Bond Dickinson in Newcastle.
Situated in the centre of Hexham, Carntyne Residential Care Home was founded in 1990 following a request to the Sisters by the late Roman Catholic Bishop Hugh Lindsay.
It is located close to the Sele Park in the centre of the town and also has its own extensive private grounds.
Most of its residents come from along the Tyne Valley and live there on a permanent basis, but it also offers respite care beds.
Sister Aelred of the Sisters of Mercy says: “The Sisters set up Carntyne Care Home in 1990 and we have many happy memories of the staff and residents there, but with fewer Sisters in the community now, we can no longer continue to be responsible for running it.
“In order to ensure the best possible outcome for our residents and staff, we agreed to transfer the business to Resolve Care and worked closely with Emma and her team at Womble Bond Dickinson to make this happen.
“We wish all concerned a very happy future, thank the people of Hexham for their support and care over the years, and send the residents and staff every good wish.”
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: “Carntyne has great facilities, terrific staff and a lovely atmosphere, and its position in the centre of Hexham means many of our residents can get out and enjoy what the town has to offer.
“The Sisters rightly wanted to know that whoever took over the property would continue to look after its residents in the right way and we’re fully committed to doing just that.
“We also want to become more involved in the local community and plan to hold coffee mornings and other events that will enable residents to interact and build relationships with other local people and groups.
“We’re looking for opportunities to acquire several more similar-sized properties to Langley and Carntyne, but want to stay within the North East, so that we can retain a hands-on, personal style of management and ensure that all our properties are always run to the high standards that our expert staff set. We do not want growth to compromise quality of care in any way.
“RMT and TBI’s expert guidance and advice has helped ensure the purchase process has gone extremely smoothly, and they will both be a central part of realising our future growth plans for Resolve.”
Michael Cantwell, head of corporate finance at RMT Accountants, adds: “Carntyne is a high-quality property that fits perfectly with Elaine’s experience and style of management.
“She has the industry and commercial knowledge behind her to create a strong regional care home group and we’re very pleased to be using our own care sector expertise to support her in realising this ambition.”
Craig Malarkey, partner in the corporate & commercial team at Tilly Bailey & Irvine LLP, says: “We were thrilled to work again with Elaine in bringing Cartnyne into the group. I’m looking forward to continuing our partnership with Elaine and Resolve, and helping her realise her ambitions of creating a group of care homes which is focussed on high levels of care and service for the residents.”
Emma Moody, head of charities at Womble Bond Dickinson, says: “I am delighted that my team could support the Sisters in the sale of Carntyne, making their vision for its future a reality. We wish Elaine every success.”