H.I.G. Capital, a prominent global alternative investment firm managing $65 billion in assets, has announced a significant expansion into the U.K. elderly care sector. H.I.G.'s portfolio company, Lovett Care, has successfully acquired New Care, marking a strategic move to strengthen its presence in the market. Lovett Care, established in 2009 in Newcastle-under-Lyme, has built a strong footing with 16 care homes across England and Wales, providing 1,091 care beds. Its commitment to excellence in elderly care through continuous investment in facilities and systems has been a cornerstone of their growth.

The recent acquisition of New Care, based in Cheshire, enhances Lovett Care’s standing further. New Care, known for its modern and purpose-built facilities, operates 15 care homes offering 1,057 beds. This strategic acquisition results in a combined group of 31 facilities with a total capacity of 2,148 beds, positioning it among the top 20 care home operators in the U.K. and as one of the largest operators in the Midlands.

Riccardo Dallolio, Managing Director and Head of H.I.G. Realty in Europe, expressed his enthusiasm for the transaction, emphasizing their strategy to establish a leading presence in the U.K. elderly care sector.

H.I.G. has a track record of developing successful real estate platforms in sectors characterized by strong secular trends, including hospitality and logistics. Stelios Theodosiou, another Managing Director at H.I.G. Realty, highlighted the strategic nature of the acquisition, which pairs two award-winning entities with a proven capability to manage high-quality, next-generation care facilities.

The acquisition aligns with H.I.G.'s ambition of expanding Lovett Care both organically and inorganically, with the ultimate aim of making it a top 10 care home operator in the U.K. Lovett Care’s CEO, Keith Crockett, shared his excitement about integrating New Care’s residents and staff into the Lovett family, viewing the acquisition as a significant milestone in their ongoing strategy to deliver premier quality care in key market locations.

H.I.G. Capital, founded in 1993, is recognized for its versatile investment approaches, managing both equity and debt across diverse sectors globally. With headquarters in Miami and offices in major cities across the United States, Europe, Latin America, and Asia, H.I.G. deploys a flexible, operationally focused investment strategy.

Their equity funds engage in management buyouts and corporate restructurings, while their debt funds provide a range of financings tailored to mid-market companies. In the real estate domain, H.I.G. pursues value-added investments, benefiting from innovative asset management strategies. The firm’s current portfolio spans over 100 companies, with a collective revenue exceeding $53 billion, underscoring its expansive reach and influence in the investment landscape.

For further details, potential stakeholders and interested parties are encouraged to visit H.I.G.'s official website at hig.com.