We are delighted to announce that we have successfully exited our six-year partnership with MACC Care, one of the UK's leading elderly care providers.

The partnership with MACC Care, which operates a network of luxury care homes across the Midlands, saw Downing provide around £70 million in funding for acquisitions, refurbishment and development across six care homes that collectively provide 454 beds, including two with close care retirement living apartments, and two further development sites.

Overall, MACC Care - which was founded by two practicing doctors in 2004 - operates 13 care homes with more openings planned this year and employs 750 staff looking after 831 residents.

Downing first invested with Birmingham-based MACC Care in 2017 after identifying the company as a high-quality care home operator and developer. The management team is focused on strong growth, along with the objective of addressing the undersupply of high-quality care home beds.

The investment, structured across numerous transactions, has helped MACC Care to scale up and create an enviable estate of modern purpose-built care homes and has delivered attractive risk-adjusted returns for Downing’s investors during a low-interest rate environment.

Mark Gross, Partner and Head of Development Capital, Downing LLP, said: “Our six-year partnership with MACC Care marks a successful period for both of us. Throughout the partnership, we have been impressed by the quality and specification of the sites being developed as well as the level of care provided.”

“As a certified B Corporation, we are delighted to have helped develop a market-leading provider of elderly care, delivering much-needed fit-for-purpose care beds into the West Midlands market and created new local employment opportunities.”

“We wish the management and employees of MACC Care all the very best for the future as they embark on their next stage of growth”.

Find out more about the Development Capital team

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