Backed by Frontier Development Capital, Armighorn Capital has acquired one care home in north Liverpool with two more in its sights. Tony McDonough reports

Healthcare investor Armighorn Capital is investing £2m in three care homes in Liverpool with the first deal now completed.

West Midlands-based Armighorn has bought Amberleigh House Care Home in Aintree thanks to a funding package provided by Frontier Development Capital (FDC). The package will support two further planned acquisitions in the city.

The deal marks the latest in a round of acquisitions for Armighorn, which currently operates five homes across the Midlands and West Yorkshire, managing the care of approximately 350 elderly residents.

The newly named ‘Abbey Wood Park Nursing Home’ is located adjacent to Aintree Hospital and will soon be opened, following a full refurbishment programme that is currently under way. Abbey Wood Park will offer beds and services for up to 38 residents.

The demand for care home beds is set to increase in the future, with the UK population over the age of 65 expected to rise from 10.6m in 2010 to 16.1m in 2035. Navjot Singh, director at Armighorn, said: “Armighorn has a strong track record of reopening, and transforming, care homes requiring improvement.

“Residents are our most important priority and that is why when acquiring a new site, we work hard to not only to make physical upgrades, but also assess and implement operational changes to raise service quality.

The £2m funding line, in addition to the initial £3m investment received in 2019 from FDC’s growth capital team, enables Armighorn Capital to continue the delivery of its ambitious growth plans.

FDC investment director Carl Perry added: “The business provides an outstanding level of care to residents despite the current pandemic, and we are committed to working with Armighorn’s management team to help navigate the firm’s expansion both organically and through acquisition.”