French care group takes stake in LV and Brussels firm buys properties

Thursday 28 April 2022

French group Emera has taken an equity stake in LV Care while a Belgium-listed real estate investor has agreed to purchase five of its properties.

LV, which was founded and is run by Jersey-born Chris Shelton and Nick Bettany, has homes homes in Jersey and another in the Isle of Man. It also runs a number of community care services.

It said that Emera had a “long-term vision to support the further development of its care offering in the Crown Dependencies to meet the growing demand for health services, while consolidating the high quality positioning of the homes”. 

LV Care added that the local team would retain “significant ownership of the group” and it will continue to manage and operate all areas of the business, including the care homes, community care services, the LV Pharmacy, and L.I.N.C Mental Health & Wellbeing.

Brussels-based Aedifica has agreed to purchase five of the properties currently owned by LV Care. Aedifica specialises in investing in European healthcare facilities, in particular housing for seniors with care needs. 

Pictured: LV Care Group CEO Nick Bettany.

LV Care has planning applications submitted for two sites in Jersey, and two in the Isle of Man. Its growth has been supported by RoundShield, an independent private investment firm, which has financed the business since 2016.

Nick Bettany, CEO and co-founder of LV Care Group said: “We are looking forward to the new partnership with Emera, one of the leading French care home operators, which will have a very positive impact on the care sector locally. 

“We will be able to leverage off their extensive experience to further optimise how we deliver care to our residents. We pride ourselves on the high quality facilities and services that we provide and the additional investment from Aedifica will enable us to have a strong pipeline of growth across Jersey and the Isle of Man. We are delighted with this investment for the business, for our staff, and for the island.”

Driss Benkirane, the Founder and Managing Partner of RoundShield, said: “RoundShield has worked closely with LV Care Group as the business has grown into a trusted care provider with an outstanding reputation in Jersey and the Isle of Man. We are pleased to have supported the management team in developing state-of-the-art homes which provide care of the highest quality, benefitting residents, their families, and the wider local community.”

Eric Baugas, Executive Chairman of the Emera Group, said: “Emera is very much aligned with the LV Care Group ethos and values of high-quality care and we are thrilled that their founders have chosen to partner with our Group to consolidate and continue LV Care’s expansion plan in Jersey and the Isle of Man. 

“We will jointly leverage on Emera’s 30-year expertise as an operator and on Nick and Chris’s experience and understanding of local habits, regulation and management for the further development of high-quality and innovative services for elderly people in the Channel Islands.”

Stefaan Gielens, CEO of Aedifica adds: “We are very pleased with the expansion of our healthcare real estate portfolio and look forward to the collaboration between Aedifica and the LV Care Group. This partnership, with an established local operator in the Channel Islands, will strengthen our position and visibility in the market.”