Aedifica has invested £58 million in a portfolio of five LV Care homes, four in Jersey and one on the Isle of Man.

LV Care Group was founded and is run by Jersey-born Chris Shelton and Nick Bettany, who established the business to provide premium care facilities and services for the Island.

“We are looking forward to the new partnership with Emera, one of the leading French care home operators, which will have a very positive impact on the care sector locally,” said LV Care chief executive and co-founder Bettany. “We will be able to leverage off their extensive experience to further optimise how we deliver care to our residents.

 “We pride ourselves on the high-quality facilities and services that we provide and the additional investment from Aedifica, will enable us to have a strong pipeline of growth across Jersey and the Isle of Man. We are delighted with this investment for the business, for our staff, and the Island.”

Aedifica is a listed company that specialises in investments in European healthcare real estate, in particular, housing for seniors with care needs.

“Thanks to this acquisition, we continue to expand our collaboration with the Emera Group, an established European care operator with a proven operating model,” said Aedifica chief executive officer Stefaan Gielens.

Bruce Walker, country manager of Aedifica UK, added: “The properties are located in Jersey and the Isle of Man and will, after completion of the envisaged extension and reconfiguration works, comprise 283 en-suite bedrooms for seniors requiring continuous care. This transaction will further strengthen our position and visibility in the British market, increasing our portfolio in the United Kingdom (including the Crown Dependencies Jersey and Isle of Man) to over €1 billion upon completion of all development projects.”

With more than 5,000 employees in France and Europe, the Emera Group benefits from know-how in the management of retirement homes and senior residences, through experience acquired by all of its management for nearly 30 years.

 “Emera is very much aligned with the LV Care Group ethos and values of high-quality care and we are thrilled that their founders – Nick Bettany and Chris Shelton – have chosen to partner with our Group to consolidate and continue LV Care’s expansion plan in Jersey and the Isle of Man,” said Emera Group executive chairman Eric Baugas. 

“We will jointly leverage Emera’s 30-year expertise as an operator and Nick and Chris’ experience and understanding of local habits, regulation and management for the further development of high-quality and innovative services for elderly people in the Channel Islands,” says Eric Baugas, Executive Chairman of the Emera Group.

Connell Consulting produced the vendor commercial due diligence to support the sale of LV Care Group to Aedifica and Emera.