Scottish care home entrepreneur Robert Kilgour secures £30m acquisition pot
Mr Kilgour has previously signalled he wants to see the number of homes under his Renaissance Care group increase to 30 from 16 currently.
The acquisition funding with an unnamed backer came as the company also announced a £14m investment programme to improve energy efficiency and add beds in its current homes.
More than £6m will be spent over the next three years on refurbishments including new windows, LED lighting, improved insulation, boilers, and better heating controls. A further £8m is earmarked for projects to add 56 bedrooms at six of its existing care homes.
Mr Kilgour, who is executive chairman of the Musselburgh-based firm, said the moves were part of efforts to “futureproof the business”. He added: “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 future plans.”
The group recently announced a “cultural review” across its 16 homes in response to exhaustion across the care sector following the pandemic. Staff across the homes will now be offered a range of new benefits including flexible working and a pay review across all roles.
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