Readcrest Capital AG: Trading update following the sale of the UK care home business

Hamburg, April 17, 2026 – Readcrest Capital AG (“Company”, DE000A0LE3J1; WKN A0LE3J) announces that its subsidiary has closed the transaction to sell its UK care home business for an initial consideration of £ 44 million (approx. EUR 50.6 million) as announced on March 31, 2026.

The Company will use most of the proceeds to pay down debt at its UK subsidiary. Following the sale of the care homes the UK business now solely consists of Grosvenor Health & Social Care, the third largest provider of home care in the UK. Grosvenor generated 2025 EBITDA of approximately £11 million and has leverage (net debt/EBITDA) of under 2.5 times following the care home sale.

The successful exit of the care home portfolio is a strategic milestone for Grosvenor as it significantly enhances the balance sheet and its capacity for growth. 

Grosvenor chief executive officer Darren Stapleberg said “having completed the sale of the care home business and significantly enhanced our balance sheet, we are primed to execute on our goal to further consolidate the UK home care sector.  Our proven track record and unique operating model provides us with strong conviction of achieving an EBITDA run rate of over £15 million at Grosvenor in the mid-term.”

Readcrest chief executive Rolf Elgeti continues: “This transaction is a highly accretive way to recycle capital for the benefit of our shareholders. Not only will it make our UK business much more cash flow producing but it will also allow us to benefit from even more opportunities in the German real estate market.” 

The Company is in advanced stages of planning and financing for the already acquired projects in Germany and will provide updates soon.

Contact
Readcrest Capital AG
Rolf Elgeti, Dr. Marcus Kiefer – Management Board
Schopenstehl 22, D-20095 Hamburg
Tel.: +49 40 679 580-22
info@readcrest.com
http://www.readcrest.com