Midland-based care homes provider St Cloud Care has been sold to a joint venture partnership in a deal worth more than £30 million.
St Cloud Care comprises five establishments including The Boynes in Upton-upon-Severn and Holmwood in Kidderminster.
The family-owned group was put up for sale due to the retirement of Linton Connell, who owned and operated the group jointly with his brother Philip Connell, and has been acquired by Golden House and Ravad.
Richard Knight and Nigel Horn from West Midlands law firm Harrison Clark Rickerbys advised on the deal along with Andy Kay, Midlands corporate finance director at accountancy firm Crowe Clark Whitehill.
Mr Kay said: "The Connells have always taken great pride in creating a caring and friendly environment, with dedicated staff focused on delivering the highest standards, within a comfortable and safe environment for the elderly.
"Hopefully, following this transaction, staff and residents can rest assured as to their continued welfare."
Charlotte Thornton-Smith, partner and head of health and social care team at Harrison Clark Rickerbys, added: "This deal comes at the end of a busy year of transactions in the healthcare sector.
"We were delighted to conclude the sale for St Cloud Care who are long standing clients of the firm."