Duke Capital announces £2m follow-on investment into Tristone Healthcare
Duke Capital has announced a follow-on investment of £2m into its existing capital partner, specialist healthcare provider Tristone Healthcare, to enable it to complete a further acquisition.
Duke, which provides hybrid capital solutions for SME business owners in Europe and North America, will provide funds to Tristone to facilitate the acquisition of Serenity Care Homes.
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The round of financing increases Duke’s total credit financing to Tristone to £21.2m. As part of the deal, Duke will also invest £500,000 of equity in Tristone, increasing its ownership stake to 28.4 per cent.
Once the acquisition of Serenity Care Homes is complete, Duke will have supported five Tristone acquisitions.
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“The acquisition of Serenity Care Homes will enable Tristone to cater for a growing number of young adults with complex needs, expanding its presence in the South of England,” said Neil Johnson, chief executive of Duke Capital.
Duke announced earlier this year that it predicted a 12pc revenue rise in Q4 of the financial year ending 31 March 2025.
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