Care home operator trebles in size on the back of recent acquisitions03/04/2023
An ambitious, fast growing, North East care provider has trebled in size within the last 12 months, thanks to support from Mincoffs Solicitors and accountants and business advisory group, Azets and funding from Allica Bank.
Hark Group Holdings, which was founded by husband and wife team Hardip Kang and Rupinder Kang, has gone from strength to strength during the last year following a number of acquisitions across Tyne and Wear.
This includes the business and assets of Cedar House Care Home, Sunderland, and the entire issue share capital of Thorncliffe Care Limited – which operates Thorncliffe House, Sunderland – with a view to further acquisitions in the near future.
The teams at Mincoffs Solicitors and Azets worked closely together with Hark Group Holding’s senior management team to successfully structure, fund and transact the deals.
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.”
“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,” he said.
“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 M&A 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.”
Mincoffs Solicitors has provided expert legal services and advice across the North East and beyond for 75 years.
Alongside corporate and commercial services, the firm’s offering includes real estate, dispute resolution, employment law, licensing and gaming, residential conveyancing, family law and wills, probate and trusts.