Ipswich law firm helps established primary care developer through multi-million pound acquisition
Solicitors based in Ipswich have acted for a primary care developer in its acquisition by a leader in its field.
Prettys supported the shareholders of Apollo Capital Projects Development Limited in the company’s recent sale to Assura plc, the national primary care property specialist.
The pairing is set to strengthen development pipeline and capability at Assura with Apollo adding a 20-year track record of developing high-quality primary care properties across the UK and an experienced four-person development team to its assets.
The transaction has seen the Assura team swell to 11 specialist surveyors and extend its development pipeline by an initial eight schemes with an estimated total capital expenditure of £50 million.
John Dryburgh, who was Apollo’s largest shareholder and chief executive, said: “We were pleased to have Prettys support and experience to negotiate an agreement which works for both parties and allows our business to continue to grow and flourish under a new brand name.
“Their experience was very valuable in ensuring that the transaction was completed on time in what was a challenging timescale.”
Ian Waine, who led the Prettys team, said: “We were delighted to have been involved in this transaction which has recognised the strength of Apollo’s offering and the expertise of those working there within the primary care property sector.”
Assura is a real estate investment trust and long term property partner to almost 600 primary care buildings across the country, in which more than 500 GP practices operate and from which more than five million patients are served www.assuraplc.com @assuraplc