RECEPTION WELCOME
4 CARE HOME PROFESSIONAL | August 2019
Fears over the future of Four Seasons have eased with
news that a number of investors are interested in buy-
ing the beleaguered care home group.Administrator Alvarez & Marsal (A&M) has reported
that more than 45 potential buyers have shown an
interest in Four Seasons with a deal hoped for before
the end of the year.Bidders are believed to include H2 Capital Partners,
the company’s largest creditor, asset management
and investment company, Cheyne Capital, US-based
Davidson Kempner Capital Management and property
investor, Roundhill Capital.Bids have reportedly been placed as low as £400m, or half the £825m the business was
bought for by Terra Firma seven years ago. The slump in valuation reflects the increas-
ing challenges facing care home providers and the particular operational issues at Four
Seasons. The group’s more profitable 24 homes run by brighterkind targeted at the
private fee payer have, meanwhile, been put up for sale separately for around £200m by
Terra Firma. Former Four Seasons founder Richard Kilgour is reported to be among other
interested parties.
Bidder interest will allay the fears of Four Seasons’ 16,000 residents and 22,000 employees
and comes in stark contrast to the stalled sale of fellow major providers HC-One, Barches-
ter and Care UK, which appear to be another casualty of Breixt uncertainty.
Concerns remain over whether a private equity investor will be the right partner to
address the major structural challenges affecting Four Seasons, however, so don’t be
surprised if we end up back in the same place in five years’ time!
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Good news for Four Seasons?
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