City & County Healthcare Group expands with eighth bolt-on
Sovereign Capital’s domiciliary care platform Sovereign Capital, the UK private equity Buy & Build specialist, today announces the acquisition of Sage Care by portfolio company City & County Healthcare Group (“City & County”). This is the Group’s eighth bolt-on since it was acquired by Sovereign in September 2009.
Sage Care is a high-quality provider of domiciliary care for elderly people and also for individuals with learning disabilities. It has a diverse range of contracts, including 24-hour care, live-in packages and private care.
The business has expanded significantly since it was founded in 1995 and it now delivers around 6,500 hours of care per week in London and South East England from its three branches, in Welwyn Garden City, Fulham and Biggleswade, Bedfordshire; all three branches are rated as ‘Excellent’ or ‘Good’ by the Care Quality Commission. Sage Care will continue to be managed by its experienced General Manager, Jan Hiscutt, who will report into City & County’s Southern Regional Director, Sue Wheeler.
The acquisition of Sage Care complements City & County’s geographic footprint in London and the Home Counties and increases the number of care hours delivered by the Group to more than 90,000 per week. City and County is now one of the largest dedicated providers of domiciliary care in the UK, with over 9,000 service users nationwide. In recognition of the Group’s strong growth, City & County was recently ranked 36th in the Sunday Times 2012 Buyout Track.
In addition, City & County has acquired the West Berkshire and Leicester franchises of Guardian Homecare; Guardian is a multi-branch domiciliary care business that City & County acquired from BUPA in September 2010.
Commenting on the Sage Care transaction, Dominic Dalli, Partner at Sovereign, said: “Sage Care is a sizeable acquisition in what remains a fragmented market, which extends City & County’s southern coverage following recent acquisitions in other parts of the UK. This bolt-on continues our strategy of only acquiring high-quality businesses, which have seen steady growth as a result of delivering excellent services.”
Craig Rushton, Group CEO of City & County, said: “Sage Care has an outstanding reputation both with local authorities and individual service users. This, together with its focus on quality-of-care and regional location, means we are delighted to bring Sage Care into the City and County Healthcare Group.”
Sovereign has committed total funding of £25m to City & County and continues to assess further Buy & Build opportunities to expand the Group’s reach and develop its service offering.
For further information please contact: Julie Sieger, Sovereign Capital, on +44 (0)20 7340 8800 or email: firstname.lastname@example.org