Sovereign Capital announces £12 million acquisitions for SENAD

Sovereign Capital, the independent UK lower mid-market private equity provider and the largest UK owner of independent mainstream and Special Educational Needs (SEN) schools, is pleased to announce that portfolio company SENAD Group ("SENAD"), the residential schools group for children and young adults with SEN, has made two acquisitions.

Sovereign has supplied funds to support the £12 million acquisitions of Tregynon Hall, a residential school for children with Behavioural, Emotional and Social Difficulties ("BESD") and of Aran Hall, a residential school for children with Severe Learning Difficulties ("SLD"). Both of these acquisitions reflect SENAD's strategy for organic and acquisitive growth and bring schools of a complementary quality to the SENAD brand.

SENAD Group is an investment created in January 2003 by Sovereign from the £22 million IBO of Honormead Schools and the £9.5 million acquisition of Principal Care Services. The schools include Alderwasley Hall, which is the UK's leading school for children and young adults with SEN.

These new acquisitions consolidate SENAD's position as the pre-eminent dedicated provider of SEN schools in the country and further widens SENAD's product portfolio across the same broadly defined pupils base. In total, SENAD now caters for over 390 children and young adults across six schools and young adult facilities.

Tregynon Hall is a long established school in Tregynon, mid-Wales, which had been owned by the vendors since 1989. The school has an excellent reputation for providing high quality residential education, care and therapy to children with BESD. Equally, Aran Hall, in Dolgellau in Snowdonia, cares for children and young adults with SLD, particularly for pupils demonstrating challenging behaviour. In both cases the vendors were looking to pursue other interests and Sovereign was able to provide a solution which also gave them the assurances that SENAD would build upon the excellent reputations the schools' had already achieved.

Ryan Robson, Partner, Sovereign Capital commented on the acquisitions:

"We are delighted with these acquisitions for SENAD which are a clear reflection of Sovereign's focus on buy & build strategies. SENAD has been looking to develop its portfolio of services and this is now in place. Both of these acquisitions presented a strong fit for SENAD and most importantly place quality care at the heart of their offering. The management team, which we put together at the time of the IBO, is doing a tremendous job in developing the Group."

Terry Lee, Chief Executive, SENAD commented:

"We are very pleased to have these two schools as part of our group. We want to provide the best outcomes for the children and young people in our care working in partnership with the clients, their parents and the placing authorities. Our enhanced service provision will support this fundamental principle."