The sale of Craegmoor to Advent International, the private equity group, is expected to close on Friday, four months after the care home operator was put on the market by owner LGV Capital.

The sale price is about £290m ($579m). At various stages in the course of the bidding, rumours of a possible sale price had ranged between £250m and £300m, but the deal does not appear to have been adversely affected by the recent difficulties of Southern Cross, one of Craegmoor’s biggest competitors.