on Readcrest Capital AG (isin : DE000A0LE3J1)
Readcrest Capital AG Completes Sale of UK Care Home Business
Readcrest Capital AG has finalized the sale of its UK care home business for £44 million, approximating EUR 50.6 million. This move allows the company to significantly enhance its financial position by reducing debt in its UK subsidiary. As a result, the UK business will focus solely on Grosvenor Health & Social Care, a leading home care provider generating £11 million in 2025 EBITDA. The sale reduces Grosvenor's leverage to under 2.5 times EBITDA.
The sale marks a strategic milestone, bolstering Grosvenor’s growth capacity. CEO Darren Stapleberg expressed confidence in achieving a mid-term EBITDA run rate of over £15 million. Rolf Elgeti, CEO of Readcrest, highlighted the transaction's potential to improve cash flow and facilitate further opportunities in the German real estate market.
R. H.
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