Sovereign announces the appointment of a New Chairman to Eden
Sovereign Capital, the UK private equity Buy & Build specialist, is pleased to announce that it has appointed Ted Smith as Non-executive Chairman to portfolio company Eden Supported Living Limited (“Eden”), one of the largest independent Supported Living businesses in the UK.
Ted, who has significant experience in the healthcare sector, was previously Chief Executive of Craegmoor, the UK’s largest independent provider of care and support to adults with a range of specialist needs across 250 care homes, supported living units, independent hospitals and specialist colleges. At Craegmoor Ted led the business through its sale to Advent International in 2008 and implemented the change in strategy from recovery to growth leading to its second sale to Priory Group in 2011. He is currently Chief Executive of European Care which supports approximately 4,000 people and has 6,000 staff.
Established in 1994, and based in Newark, Eden’s 600 staff provide flexible long-term support for adults with learning disabilities, physical disabilities and other health needs in their own homes.
Sovereign backed the Management Buy-out of the business in September 2010, since which time the business has opened further services to accommodate and provide support to 12 service users. Another site is under construction and the total number of service users supported by Eden has increased from 240 to over 290 adults. The business has built a strong reputation locally for its services and has developed close links with the commissioning authorities that value its services as an alternative to costly, low secure provision or mainstream residential care.
Ted Smith, Chairman at Eden, said: “Eden is a business that I’ve known and admired for a long time. They have a first class offering and benefit from excellent relationships with their key commissioners.”
Paul Adcock, Managing Director at Eden, commented: “Ted’s experience of both the sector and operating in a private equity-backed environment will prove invaluable in taking Eden to the next stage of its development”
Commenting on the appointment, Dominic Dalli, Partner at Sovereign said: “We are delighted that Ted is joining Eden. He brings a breadth and depth of expertise which will be a great benefit as the business rolls-out and develops its service offering. The trend to encourage people to live as independently as possible remains strong and Eden is well placed to support service users with care packages tailored to their particular needs.”
For further information please contact: Julie Sieger, Sovereign Capital, on +44 (0)20 7340 8800 or email: email@example.com