Care provider Anavo Group has acquired five Scottish care homes which it has managed since 2021 following their entering administration.

The homes are: Burnside in Laurencekirk, Cochrane in Johnstone, Newark in Port Glasgow, Ranfurly in Johnstone, and Spiers in Beith.

 Anovo stated: “Working closely as the link between administrators and the homes, we successfully provided the support and structures so that they were in a position to make a solvent exit. Assessing the financial sustainability of the business and believing in the ongoing performance, Anavo decided to make an offer to acquire the five Scottish care homes and this month, completed the purchase.”

The acquisition marks Anavo’s move into the freehold market, having previously focused on management contracts and leasehold acquisitions.

Jamie Braganza, partner at Anavo, said: “We took on this project because we knew we could deliver a strategic plan for the administrators. We soon found that we were working with fantastic care teams who were committed to their residents and had the potential to deliver great outcomes. As the business stabilised, it felt natural to make this acquisition and commit to these homes into the future. We’re delighted to have achieved this milestone and we’re grateful to all partners for aiding us in taking this step. We’re excited to working with the teams and challenging ourselves to keep pushing these services forward.”

Philip Armstrong, former joint administrator at FRP Advisory Trading, stated: “After trading the homes in administration with Anavo’s support for a number of years, we are delighted that we have been able to exit the administrations solvently and secured the sale of these homes to Anavo, who have been instrumental in delivering the improved performance at these homes that has facilitated the ongoing care to residents and secured the jobs at these homes. We wish them continued success in the future”

Richard Harris, head of healthcare at property agent Colliers, stated: ‘We were delighted to assist FRP in the disposal of the five homes to Anavo which followed the disposal of two homes in Yorkshire at the end of last year to Constantia Care. Anavo’s growth trajectory has been impressive over the last couple of years, and we hope to announce further expansion news with them in the near future.”