McCarthy & Stone commences full review of strategic options and appoints financial adviser
26 November 2012
26 November 2012: McCarthy & Stone (‘McCarthy & Stone’ or ‘The Company’), the largest developer of privately owned retirement property in the UK, announced today that it has formally commenced a strategic review process and has appointed Moelis & Company (‘Moelis’) as financial adviser to the Board to assist with this review.
Alan Bowkett, Chairman of McCarthy & Stone said:
"Following a pleasing set of results in the year to August 2012, we have decided under the leadership of our new Chief Executive, Mark Elliott, to launch a comprehensive review in order to evaluate our options and take advantage of the exciting growth opportunities that lie ahead."
Moelis will undertake a review of a broad range of strategic and financing options available to McCarthy & Stone, as it looks to take advantage of the market opportunities ahead and achieve its strategic growth objectives in an accelerated timeframe.
As a key part of its work, Moelis will consult directly with McCarthy & Stone’s major stakeholders over the coming weeks. Any stakeholder that has recently made an investment in McCarthy & Stone, but has not yet become a shareholder or lender of record, is invited to contact the Company or Moelis directly.
Moelis is expected to present its strategic review to the Board by the end of January.
Moelis & Company
020 7634 3633
020 7634 3652
Kate Holgate / Azadeh Varzi
+44 (0) 207 404 5959