Perth-based Balhousie Care Group has been sold to an international healthcare firm in a multi-million-pound deal.
Balhousie was started by Tony Banks 30 years ago with the purchase of a care home in Kirriemuir.
It now has almost 1,000 residents in 26 care facilities, in six regions of Scotland.
Mr Banks had 100% ownership of the business and will retain a minority stake following the undisclosed investment by AcalisCare.
Proud of 30 years of Balhousie Care
Mr Banks has stepped down as chairman.
He said: “After three decades of building Balhousie Care Group, I am extremely proud of what the group and the brand has become, which is a highly respected player in the care sector.
“It was hugely important to me that any investment partner we worked with shared Balhousie’s values and aspirations, and I believe AcalisCare does.
“This is the start of an exciting new growth and investment phase for the business, for our staff and for residents.
“It will ensure that the Balhousie brand grows even stronger over the next 30 years.”
The agreement with AcalisCare is that the business retains its name and head office in Perth. Its offices are at Broxden Business Park.
Balhousie investments
Balhousie, which has 1,400 staff, said the investment means it will enter an “exciting growth phase”.
It recently announced plans to spend £10m in its homes. This include a 10-bedroom extension and full refurbishment at Balhousie Moyness in Broughty Ferry.
AcalisCare has almost two decades of international experience in operating and developing care homes in Belgium, Chile, Colombia, Uruguay and Turkey.
Lieven Baten, a partner in AcalisCare, is the new chairman of Balhousie Care Group.
He said: “Balhousie Care is a natural fit for us. This deal gives us an important foothold in Scotland.
“Balhousie brings innovation and excitement to Scotland’s care sector. We see huge potential to grow and expand the services under the Balhousie brand.”
Tony Banks, who was born in Dundee, acquired the pilot training facility Tayside Aviation in January this year.
Balhousie Holdings Limited reported turnover of £47.6m for the year to September 2021 and pre-tax profits of £8.3m.
