The private equity arm of Allianz has agreed to buy Four Seasons, the nursing home business being sold by rival buyout firm Alchemy, for £775 million, a source said today.
Allianz Capital Partners beat out rivals including US giant The Blackstone Group, to win the deal, which also includes Four Seasons' management team led by chief executive, Mr Hamilton Anstead, the source added. The deal is set to be announced later today.
Four Seasons includes over 300 nursing homes, with around 14,600 beds, and was seen as a prime candidate for private equity firms looking for steady revenues.
