Dundonian Tony Banks opened his first care home in Kirriemuir in 1991 and grew Balhousie Care Group to 26 sites and 1,400 staff.
After more than 30 years at the helm, he has sold a majority stake in the Perth-based care group to AcalisCare. He will retain a minority shareholding.
In an exclusive Courier Q&A, Mr Banks reveals the reasons behind the investment – though he has no plans to retire yet.
Q. Why is now the right time to give up control of Balhousie Care?
It seems like a fitting end to Balhousie’s 30th year in business.
I’m proud of what we have achieved in three decades and I am excited to see what’s next for it as a brand and a provider.
For me personally the timing just works. I turned 60 last year and although I’m not ready to retire, I do want time to concentrate on my other businesses.
This includes growing Tayside Aviation to be Scotland’s premier flight training school and continuing to build Affertons Funeral Care.
Q. How did the investment come about?
I’ve had on-and-off discussions with business investors since Balhousie Care Group was formed.
It felt like the right time to finally entertain some of that interest and enter into serious discussions.
When AcalisCare emerged as an interested party they were immediately attractive as a buyer.
They understand the business and the sector and don’t want to change the brand.
Q. What will the investment allow Balhousie to do which it may not have been able to do otherwise?
Balhousie’s expansion plans have been hampered by the pandemic, as well as the borrowing restrictions and the increasing costs all businesses are facing right now.
AcalisCare will provide the investment needed to take forward plans for new care homes and refurbishment of existing ones.
With a portfolio of 26, as you can imagine, maintaining and improving the portfolio is a continuous and expensive job.
Q. Why was it important to you that Balhousie keep its headquarters in Perth?
That was never in doubt.
We wanted the least disruption possible for staff, and our Perth headquarters has always served us well both in terms of the facilities offered and the geography of it.
Perth is a great central point for the six regions we operate in.
Q. Looking back at 30 years controlling and building the business – what are you most proud of?
I’m very proud of what we have given to so many local communities.
To be an employer and a community player is a big responsibility but it also brings great rewards.
I think we saw that throughout the pandemic with the amount of support the communities gave us as they recognised how tough a time our care home homes were having.
I’m equally proud of the staff. I have always said that buildings don’t deliver care, people do. Ours are committed and work not only as teams but as families.
Q. How involved do you intend to continue to be with Balhousie?
It was important to me to remain an investor in the company – which says a lot about my love for Balhousie!
I won’t be involved day-to-day any more but will be a board member. My main business focus now will be my other ventures.
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