International alternative asset fund management group Bridgepoint has sold care home provider Care UK which it bought in 2010.

On the back of the transaction, Care UK’s homes will be run by an operating company that has been acquired by company management. Financial details of the transaction have not been disclosed.

Care UK operates 163 care homes across the UK, having more than doubled its estate under Bridgepoint ownership from 59 at entry. It has also increased the proportion of higher-margin private-pay residents from 5% to more than 50%.

Acquired by Bridgepoint in 2010, the business was formerly part of a broader platform that also included a Healthcare division (rebranded as Practice Plus Group, subsequently divested in 2019 and still owned and managed by Bridgepoint).

Andrew Knight, chief executive of Care UK, said: “Bridgepoint has been an incredibly supportive investor for almost 14 years which has enabled us to deliver some of the highest quality care in the UK, alongside what is arguably the largest long-term newbuild development programme in the sector.”

He added:  “Care UK is now well positioned to continue delivering the very best care for residents and to drive our ambitious plans for future growth. The Care UK leadership team remains committed to delivering the highest quality of care and we are looking forward to this next step in the evolution of Care UK.”

Bridgepoint was advised by: Barclays (corporate finance), A&O (legal) and EY (financial/tax).