BGF invested €10 million in The Brindley Manor Federation of Nursing Homes, which does business as Brindley Healthcare, in exchange for a minority stake in the privately owned nursing home operator.
Brindley has a portfolio of eight nursing homes with more than 400 beds in Ireland. It aims to use BGF's investment, along with existing debt facilities from Ulster Bank, to fund acquisitions and meet its domestic expansion target of 1,000 beds by 2020.
Leo Casey, head of BGF in Ireland, will join Brindley's board as part of the transaction. The transaction marks BGF's first investment in Ireland. The firm invests between €1 million and €10 million in U.K. and Irish small and medium-sized companies.
BGF received legal advice from A&L Goodbody, financial and tax due diligence advice from Deloitte and regulatory compliance advice from HCI. Brindley was advised by PKF O'Connor Leddy & Holmes, with Byrne Wallace serving as its legal counsel.