GA Solicitors advises on the sale of four Plymouth Care Homes
GA Solicitors’ corporate commercial, commercial property and employment teams have advised the sellers of prominent care provider, Mannamead Care, on the sale of its four Plymouth residential care and nursing homes, and an additional independent living unit.
Having been owned and managed by Phil and Tonya Gerry for more than 20 years, Mannamead Care had grown to house more than 156 residents and employ nearly 200 staff across its five residences. These include Greenacres Care Centre, Greenacres Independent Living, Seymour Court, Thorn Park and Charlton House.
GA’s experienced corporate commercial solicitors in Plymouth worked closely with the sellers to ensure all aspects of the transaction were comprehensive, safeguarding their two decades of investment. The team liaised with Phil and Tonya Gerry to understand their objectives and then assisted with the preparation of appropriate heads of terms to guide the structure of the deal.
At the heart of the negotiations, and when choosing the buyer, Mr and Mrs Gerry wanted to ensure that the residents and staff would be well looked after. Maintaining the excellent service and standards of care was essential.
As part of their role within this business sale, the corporate team assisted with the negotiation of the key contractual documentation, such as the Share Purchase Agreement. This included discussing relevant warranties and potential claims a buyer could bring against a seller in the future. The deal required extensive disclosure of business information, and the team assisted Mr and Mrs Gerry with coordinating responses and ensuring they remained protected.
GA’s multi-department involvement
Due to the complex and sizeable nature of the transaction, various specialist solicitors across GA’s multiple disciplines were required.
In addition to the corporate support detailed above, the following GA Solicitors teams were also involved:
Commercial Property: The commercial property team, led by healthcare specialist Tony Cusack, dealt with the real estate owned by the group. This included complex due diligence across the five properties, dealing with warranties, indemnities and responding to any additional enquiries raised.
Employment: Our employment law solicitors, led by head of team Rob Zacal, handled all the employment elements of the transaction which related to nearly 200 staff members across the five sites.
Mannamead Care has been purchased by Smart Care Homes, which operates in the South East of England. Managing Director, Asim Chaudhary, felt this acquisition was the perfect opportunity to expand his operations to the South West.
Talking of the sale, James Peterson, head of GA’s corporate commercial team, commented: “This was a significant matter that was of huge personal significance to our clients. Having devoted 20 years to the business, they were invested both emotionally and financially. They wanted to be certain that their staff and residents would remain well cared for and this played a big part in choosing the buyer and in the structure of the sale.
“There were various complex elements to the transaction, particularly with so many staff involved. It was therefore useful to be able to call on experts across the firm to ensure a smooth transaction and uninterrupted client service.”
Phil Gerry, seller of Mannamead Care and client of GA Solicitors, added: “After 20 years, Tonya and I are sad to say goodbye to our friends, colleagues and residents. However, we can now plan for a well-deserved retirement after dedicating the majority of our adult lives to the care of others.
“We are confident that Asim and Smart Care Homes will ensure all residents and staff are well looked after and that the integrity behind the business we built will remain.”
If you would like to discuss the sale or purchase of a business, or any other element of corporate law, then please get in touch with our experienced commercial solicitors to see how we can help. Ranked in both The Legal 500 and Chambers UK you can be assured you are in safe hands.
Call us today at 01752 203500 or email us directly at jack.ross@GAsolicitors.com or james.peterson@GAsolicitors.com.
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