07 April 2022

Carey Olsen advises on sale of LV Care Group

Carey Olsen has advised LV Care Group, the leading adult care group offering premium services in Jersey and the Isle of Man, on its sale.

The transaction involved the acquisition by Emera Group, one of Europe's leading care groups, of a majority equity stake in the operating group with local founders, Nick Bettany (CEO) and Chris Shelton (COO), remaining as co-owners.  At the same time, Aedifica, a Belgian regulated real estate company listed on Euronext Brussels and Amsterdam, which is a specialised investor in healthcare real estate with a portfolio in excess of €5 billion, acquired several of the group's properties in Jersey and the Isle of Man.

The Carey Olsen Jersey team acted as lead counsel on the transaction, supporting LV Care Group and the company's investor, RoundShield, an independent private investment firm. The team was led by partner David Taylor, principally assisted by associate Steven Khan. The real estate team comprised partner Chris Philpott, counsel Will Whitehead and conveyancer Eleanor Witterick, with finance support provided by counsel Lizzie Chamberlain and associate Connor Alexander. Cains provided local corporate law and real estate advice in the Isle of Man.

David said: "Since first working with LV Care Group and RoundShield in 2016, we have seen the group go from strength-to-strength, in particular through a series of bolt-on acquisitions, redevelopments, extensions and its expansion into the Isle of Man. We were delighted to assist with this transaction and wish the group and management every success with the next phase of growth."

The portfolio of care homes currently houses 237 residents, but extension and internal redevelopment works to be carried out during the course of this year at several of the sites will see that accommodation total rise to 289 residents in fully en-suite single bedrooms. The group will continue to operate the care homes, community care services, the LV Pharmacy, and L.I.N.C Mental Health & Wellbeing.

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