Balhousie Care Group has been acquired by international healthcare firm AcalisCare.
A statement explained that the deal will further Balhousie’s expansion and capital investment plans with the current management.
The Scottish group's 1,400 staff will now enter an “exciting growth phase”, according to former chairman Tony Banks, who founded the business 30 years ago.
Balhousie is now home to almost 1,000 residents in 26 care facilities, ranging from residential and nursing to specialist care, across six regions of Scotland.
The agreement with AcalisCare is that Banks remains an investor in Balhousie and that the business retains its name and its head office in Perth.
He said: “It was hugely important to me that any investment partner we worked with shared Balhousie’s values and aspirations, and I believe AcalisCare does.
“This is the start of an exciting new growth and investment phase for the business, for our staff and for residents - it will ensure that the Balhousie brand grows even stronger over the next 30 years.”
Lieven Baten, partner in AcalisCare and the new chair of Balhousie, said: “Balhousie Care is a natural fit for us and this deal gives us an important foothold in Scotland.
“We see huge potential to grow and expand the services under the brand.”
Balhousie’s planned capital investment includes extensions to two of its flagship homes, in Broughty Ferry and Bonnybridge. It is also advancing plans for new care homes in Dundee, Perth and Callander.
Justin Crowther, partner and UK head of healthcare, and Matthew Kumeta, sourced, secured and structured the sale for Alantra.
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