Project Cardinal sold to corporate buyer
8th October 2020
Redwoods Dowling Kerr is excited to announce the sale of Project Cardinal, a well-established care home providing residential and dementia care to elderly residents, based in Middlesbrough.
Originally founded in 1999, the care home was purchased by the current owners in 2007, who have operated the facility and have grown the company into a well-run, profitable business with significant scope for growth.
The team currently consists of 28 members of staff, who are all experienced and capable of managing the day-to-day running of the business without additional input from the Directors.
Registered with the Care Quality Commission, the care home delivers an excellent level of care for up to 20 residents and has a strong reputation within the local community.
The owners decided to sell their much-loved business as they wish to enjoy their retirement and approached Redwoods Dowling Kerr to provide a suitable buyer.
After a comprehensive marketing campaign which generated 12 viewings and nine strong offers for the popular care home, Project Cardinal was snapped up by a corporate buyer who wants to expand their portfolio across the UK.
Upon completion of the sale, the vendor was satisfied that a quick sale was delivered.
The vendor said: “I would like to thank Redwoods Dowling Kerr for their professional service in the sale of our care home. I sincerely would like to express my thanks to Asif Musa for all his help and efforts.
“Asif kept us informed throughout the sale process and has gone the extra mile in selling our care home and I would have no hesitation in recommending Redwoods Dowling Kerr to anyone who is considering selling their business.”
The buyer has previously used Redwoods Dowling Kerr to acquire care homes and they have plans to improve the Care Quality Commission rating and increase occupancy levels at the home.
The buyer said: “I am delighted to have used Redwoods Dowling Kerr once again in buying my third care home.
“The professionalism and attitude of Asif Musa was fantastic, reassuring and never faltered. He was always available to speak when needed. I would buy again from Redwoods Dowling Kerr and many thanks for a great personal service.”
Sales Negotiator Asif Musa said the current market remains positive for buyers despite the pandemic.
He commented: “The market remains strong, particularly for existing operators who have the potential to acquire care homes and expand their portfolio. I would like to wish my clients all the best for the future.”