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Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Notes follow-on investment of £3.2 million into existing royalty partner Tristone Healthcare Ltd to fund its acquisition of residential and nursing care provider K Bond Healthcare Ltd, which trades as Next Steps. Tristone provides specialist residential and domiciliary care in two end-markets: high acuity adults with severe mental, physical or learning disabilities, and care leavers, aged between 16 and 19, who are transitioning out of social care and into independent living.
Duke Royalty has now invested £17.6 million into Tristone.
Duke Royalty Chief Executive Neil Johnson comments: ‘Next Steps provides the highest quality of care and maintains a culture that aligns well with Tristone’s own core set of beliefs. This acquisition represents an important strategic step in expanding Tristone’s geographical presence in the North West and there is scope to open further facilities, replicating Next Steps’ existing and highly successful model.’
Current stock price: 35.92 pence, down 2.1% in London
12-month change: down 19%
By Sophie Rose, Alliance News reporter
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