A CARE home business based in the North-East last night revealed it is planning to more than treble the value of the company to £20m within two years.

The Four Winds Group, which has a portfolio of six homes in Hartlepool and Trimdon, County Durham, plans to increase its total number of beds from under 200 to 300 by extending each of the properties.

Last night, group owner Matt Matharu told The Northern Echo he expected the value of the company to rise from £6m to about £20m by 2009.

Mr Matharu set up the company in 2000 with Jean Kennedy by buying his first home in Hartlepool.

He has since built up a business with an annual turnover of more than £3m and a staff of almost 200 people.

The company has invested more than £750,000 in developing the homes - four in Hartlepool and two in Trimdon - a figure which will increase "significantly" once the expansion programme begins.

Mr Matharu said: "We have planning permission either granted or pending for all of the extensions, and the first of which will be completed in the next five or six weeks.

"In the last five years we have done nothing but invest in the homes, and every penny we make goes back into the business. We've invested at least £750,000 in the past few years, and that will increase significantly when we are starting on the expansion."

He would not rule out making future acquisitions if the opportunity arose, saying: "I have never looked to buy any of the homes, they have come to me.

"I like a challenge, and would only consider homes threatened by closure or where its standards are badly in need of improvement.

"A good home with a poor manager is no challenge.

"If an opportunity did come along, of course I would consider it - I run all my businesses very hands-on, and know what is needed. But for the moment, increasing the size of our six homes is the main project."