Alchemy Partners is to sell the Four Seasons Group, the biggest privately-owned nursing home operator in the UK, for £775m, earning the firm over £300m, more than 4x its original investment.
The company will be acquired by Allianz Capital Partners, the private equity arm of Allianz Group, Germany’s biggest insurer. The deal is subject to EU merger clearance.
The group was formed in 1999 when Alchemy merged two care home companies, CrestaCare, which it took private, and Four Seasons Health, which it bought for around £133m.
In 2002 Four Seasons acquired Omega Worldwide and Principal Healthcare Finance for £318m.