Wilmslow based Four Seasons has today agreed a deal with a completion date of July 16th 2012.
Four Seasons is the largest independent care provider in the UK. The independent sector is worth £15 bn.
Four Seasons acquired 140 Southern Cross homes when the beleagured company was broken up. Operating 445 care homes in the UK with over 22,000 beds and more than 30,000 staff, they have recently been under duress to secure and restucture loans.
Terra Firma is lead by tycoon Guy Hands who once owned EMI.
Four Seasons chairman Geoff Westmore said
“Our number one priority is to ensure that Four Seasons delivers consistent high-quality care and peace of mind for residents, service users and their families.”
He added “This transaction is a great result for all our stakeholders, including our residents and their families, care commissioners and our dedicated caring staff as well as our lenders and shareholders.