A South Wales nursing home has new owners taking their first step towards building a portfolio of care homes

Ty Ceirios Nursing Home in Pontnewynydd, Pontypool, is registered for up to 40 residents over the age of 65 years with dementia and mental health needs.

Following a confidential sales process with Oliver McCarthy at specialist business property adviser Christie & Co, and with funding sourced through Gary Boyce at Christie Finance, it has been purchased by first-time care home owners, Nikesh Kotecha, a local pharmacist, and Simon Majithia, a business consultant.

Nikesh Kotecha and Simon Majithia said:

“We are very excited to take on this new venture and hope to hit the ground running. We want to continue to grow the business with the same success as the previous owner.”

Oliver McCarthy, Associate Director – Care at Christie & Co, said:

“Our client has owned this home for more than 20 years, so it was a pleasure to be asked to help her sell. I’m sure that Ty Ceirios is in great hands with Nikesh and Simon, and I look forward to seeing them take the business to further success.”

Gary Boyce, Director at Christie Finance, said:

“As first-time purchasers, Nikesh and Simon have significant transferable skills that they can call upon when owning and running Ty Ceirios Nursing Home. We were able to build a successful funding application around their strong professional backgrounds and capabilities, along with the strengths of the care home and continuity of staff that will ensure a smooth transition of ownership.

Nikesh and Simon aspire to build a portfolio of quality care homes and Ty Ceirios provides them with a strong starting point. Having the benefit of a supportive bank that we were able to introduce should enable them to realise this ambition and we look forward to working with them on future acquisitions.”

Ty Ceirios Nursing Home was sold for an undisclosed price.