Care homes boss Kilgour plans £30m acquisition spree
Scottish care home group, Renaissance Care, has raised a £30m acquisition war chest as founder and executive chairman Robert Kilgour plans to double the size of the group.
The company plans to spend £14 million on energy efficiency focused refurbishments, while providing additional beds across its existing care home portfolio, as part of a post-pandemic investment drive over the next three years.
The group, which currently operates 16 care homes throughout Scotland with about 1,200 staff will spend £8m, subject to gaining planning permission, on six major projects – adding a further 56 bedrooms, amongst other improvements, at six of its existing care homes.
These moves are part of the group’s efforts to future proof the business and help with staff recruitment. There are around 60 vacancies in all disciplines.
There will be investment in operational management and accounting systems to improve administrative processing for all staff and to help the company achieve its planned growth.
Mr Kilgour said: “This new investment is substantial but, in our view, vital in maintaining and improving the high standards at our homes.
“The last two years have been an incredibly tough time for residents, families and hard-working team members in care homes across the country and it is important to us that we provide the best possible care and facilities for our people.
“Despite all that we have been through since the start of the pandemic, we remain very positive about the direction of the business and our plans.
“As we look to further growth, we are proceeding with our expansion plans to double the size of Renaissance Care across the country, becoming one of Scotland’s major care home operators.
“At the heart of that, we are investing, developing and working alongside our people, ensuring that we can attract and retain the very best of talent to instil a person-centred approach across each of our homes.”