Newcastle care home operator Hark Group Holdings has expanded with a flurry of acquisitions in the region.
The care provider, founded by husband and wife team Hardip Kang and Rupinder Kang, bought the business and assets of Cedar House Care Home in Sunderland and Thorncliffe Care Limited, which operates Thorncliffe House in Sunderland. Funding for the undisclosed deal came from Allica Bank, while Hark was advised by Newcastle-based Mincoffs Solicitors and accountancy group Azets.
Hark has indicated it will make further acquisitions in the near future.
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Hardip Kang, director and owner of Hark Group said: "Our expansion and growth this past year was greatly assisted with the knowledge, experience and eye for detail from Chris Hughes and all the team at Mincoffs. It’s the kind of reassurance a growing business needs when trying to achieve their growth targets. Lee Humble and the team at Azets provided me with the financial advice and assistance to accelerate the momentum needed to get the deal over the line. I look forward to working with both again for any possible future acquisitions.”
Chris Hughes, corporate partner at Mincoffs Solicitors, said: "It has been fantastic to work closely with both Hardip and the team at Hark and with Lee and the team at Azets to deliver Hark Group Holding’s vision for the North East care sector. Thorncliffe House and Cedar House Care Home are fantastic additions to Hark’s portfolio and it has been a pleasure to assist the group in acquiring these two business, so it can continue to provide essential, top quality, care across the region.
"We have an excellent healthcare merger and acquisition team at Mincoffs and we look forward to facilitating the group’s further growth."
Lee Humble, corporate finance partner at Azets said: “It has been a pleasure to work with such a strong team with a compelling growth vision. I am excited to see what the future holds for the group, and we are delighted to be part of their journey.
The sector is extremely active at present, and we are always keen to help facilitate transactions for businesses like Hark."
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