Beaconsfield, UK – June 25, 2018
Today it has been announced that Signature Senior Lifestyle, a UK developer and operator of premium senior care and nursing homes has been acquired by Revera Inc., a Canadian-based owner, operator and investor in the senior living sector. Revera and Signature have enjoyed a close working relationship since 2015, when Revera partially funding an MBO, by the then current management team.
This acquisition cements a very beneficial partnership, providing Revera with a UK platform from which to expand, and Signature with the backing of a secure long-term owner and investor. Signature develops and operates bespoke luxury care-homes and presently operates 10 open homes with a further 3 under construction and a pipeline of other projects, all in and around London and the Home Counties area. Revera owns or operates in excess of 500 senior living sites in Canada, the US and the UK and both feel their vision for future growth and each company’s individual values, are perfectly aligned.
Signature’s senior management team remains with the company and continues to drive both strategy and operational excellence. The acquisition has led to a number of role changes, with Tom Newell now becoming the Chair of the Executive Board in the UK, Aidan Roche will become CEO, Tom Ball will become Chief Financial Officer, while Wayne Pryce continues to lead overall Development and Construction.
Thomas Wellner, President and CEO of Revera Inc. said, “This announcement gives us an opportunity to increase our presence in the UK, which is experiencing accelerated growth in the senior living market, with the over 85 age group projected to almost double by 2036. This acquisition reflects our commitment to this sector not only in Canada but in key growth markets. The United Kingdom, with our shared history and values, offers strategic alignment as well as strong growth potential.”
Signature Senior Lifestyle was established in 2006 and originally funded by private equity investment. In 2015 the senior management team went through an MBO jointly funded by Welltower and Revera with the objective of underpinning a future growth platform for premium senior living development. Signature combines a unique product concept, developed in-house and specifically for the UK customer and is aimed at the luxury end of the market. More information regarding Signature can be found at www.signature-care-homes.co.uk
Revera is a leading owner, operator and investor in the senior living sector. Through its portfolio of partnerships, Revera owns or operates more than 500 properties across Canada, the United States and the United Kingdom, serving more than 55,000 seniors. The company offers seniors’ apartments, independent living, assisted living, memory care and long term care. With approximately 50,000 employees dedicated to providing exceptional care and service, Revera is helping seniors live life to the fullest. Through Age is More, Revera is committed to challenging ageism, the company’s social cause of choice. Find out more at ReveraLiving.com, Facebook.com/ReveraInc or on Twitter @Revera_Inc.