Ridgmont Care Homes has been the subject of a secondary buyout by private equity firm Graphite Capital. Ridgmont was established in 1995 and provides nursing and residential care through 17 homes nationwide. The company was founded by Roger Storey who remains a managing director.
Ridgmont intends to continue expansion under Graphite Capital through organic growth and acquisition of additional nursing homes.
Storey said, “This investment by Graphite Capital and the additional resources it has committed will allow the company to resume its expansion path through selected acquisitions in an industry that will undoubtedly see further consolidation.”
Graphite Capital, established 20 years ago, manages six funds totalling GBP500 million and provides private equity for mid-market companies valued at between GBP5 million to GBP50 million.
Graphite Capital’s own management buyout follows the sale of HypoVereinsbank‘s majority stake in Foreign & Colonial Management. Graphite Capital is now 100% owned by employees.
Stephen Cavell, partner of Graphite Capital, said: “The refinancing led by Graphite Capital gives Roger Storey and his team the opportunity to pursue profitable growth after a period of restructuring and consolidation in the care home sector.”