JP McManus: One of the owners of the Barchester Healthcare group Picture: Sportsfile
LIMERICK’S JP McManus is poised to reap the rewards of a potential sale of one of Britain’s biggest home care groups.
According to reports, the Martinstown man and business partners Dermot Desmond and John Magnier could share in a windfall of €2.8bn if the Barchester Healthcare group is put up for sale.
The trio of businessmen own Barchester through an investment vehicle and have instructed JP Morgan to look at options for the home care group, with a sale a likely outcome in the near future, according to multiple reports.
It is thought likely, according to the reports, that only offers above €2.8bn will be considered.
Mr McManus, Mr Desmond and Mr Magnier have been involved in several ventures together, the most high profile of which was a stake in Manchester United, which was sold off in 2005.
Barchester Healthcare counts over 200 care homes with 11,000 elderly occupants and 17,000 staff among its ranks.