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Travers Smith advises Patron Capital on the sale of the Badby Group

Saturday, 21 October 2017
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Tuesday, 18 April 2017

Travers Smith LLP has advised long-standing client Patron Capital, the pan-European real estate private equity fund, on the sale of specialist neuro disability care provider The Badby Group to Elysium Healthcare, the specialist mental healthcare provider backed by BC Partners.

Private equity partner Edmund Reed and head of real estate Simon Rutman led a cross-departmental team which also included private equity associates Laura Pembridge and Adrian Duncan and real estate associates Charlotte Fletcher and Elizabeth Duan.  Tax advice was provided by tax partner Kathleen Russ and tax associate Edward Humphreys.  Employment law advice was provided by Alex Fisher.

The multi award-winning Badby Group, led by healthcare specialists Tim Street and Daniel Kay of Patron Capital has four facilities across the country and has grown from 68 beds to 316 beds over a five-year period.  Tim Street, senior advisor at Patron Capital, commented: "Patron has a proven track record for investing in award-winning healthcare businesses that create and deliver quality outcomes, and this deal follows on from the sale of Gracewell Healthcare to Welltower in 2014."  Travers Smith also advised Patron Capital on the Gracewell Healthcare sale.

Patron Capital represents approximately €3.4 billion of capital across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses.

Since it was established in 1999, Patron Capital has invested in over 69 investments and programs involving over 65 million square feet (6 million square metres) in 16 countries, with many of these investments realised. The main investment adviser to the Patron Funds is Patron Capital Advisers LLP, which is based in London. Patron also has offices across Europe including Barcelona, Milan and Luxembourg.

Elysium Healthcare was advised by Dickson Minto. 


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