One of the UK's largest independent elderly and specialist care provider
Four Seasons Health Care Group (Four Seasons) was one of the UK’s largest independent elderly and specialist care provider. Terra Firma acquired the Group in 2012 and undertook a detailed and comprehensive strategic review of the business. This led to a reorganisation of the Group into three separate businesses: Four Seasons Health Care (FSHC), which providing care services with a particular focus on dementia; brighterkind, focusing on private residential and nursing care; and The Huntercombe Group (THG), providing specialised services in mental health, brain injury and neurodisability.
Four Seasons represented a compelling opportunity to acquire a stalled, ex-growth business which had a strong position within a changing industry. In segmenting the organisation, Terra Firma installed new CEOs in each of the three businesses, ensuring each has the leadership focus necessary to drive further growth.
The Group undertook a significant capital expenditure programme to enhance the quality of care through its industry-leading Quality of Life programme. Brighterkind was awarded Residential Care Provider of the year in 2017.
During its ownership, Terra Firma and the Group had been clear that, given the challenges faced in the sector, the capital structure of the bond-financed part of the Group was not suitable for the long-term needs of the business. From late 2017, the bond-financed part of the business had been in discussions with its largest creditor to deliver a restructuring of its capital structure and Terra Firma had not exercised control over that part of the group since that time. In April 2019, administrators were appointed in connection with the sale of the bond-financed part of the Four Seasons Health Care Group.
In November 2019 Terra Firma agreed the sale of the 24 brighterkind branded care homes to Barchester Healthcare, a leading operator in the UK elderly care sector. The sale completed in January 2020.