Sovereign extends healthcare expertise with £25m commitment to London Care

Sovereign Capital, the UK private equity Buy & Build specialist, is pleased to announce the £18 million acquisition of London Care Plc, one of the largest domiciliary care businesses in the UK. 

Operating from 13 sites across the UK, including 11 offices in the South East, the company provides over 30,000 hours of personal support per week to vulnerable people in their own homes, mainly under contract to local authorities and primary care trusts.     

Established in 1995, London Care employs 1,500 staff, including 1,400 care workers, enabling those who have physical or psychological needs to manage their daily lives.  In addition to assisting elderly people in their own homes, the highly trained carers also support those with mental health needs as well as children and adults with learning disabilities. 

Sovereign is bolstering the management team, led by Angelo Rombo as Managing Director, with the appointment of Robbie Burns as Chairman and Mark Harrison as Finance Director.  Robbie Burns has specific experience of the domiciliary care sector having been CEO of Clinovia (now part of BUPA) and Mark Harrison has held a number of senior financial positions, most recently as Group Finance Director at Reliance Security. 

Sovereign's strong track record and longstanding relationship with the Acquisition Finance team at Lloyds Banking Group enabled a £7.5 million funding package to be secured for the London Care transaction. 

Commenting on the acquisition, Dominic Dalli, Partner at Sovereign said: "We have known and followed London Care since 2005 and witnessed strong growth in the business.  Revenues have increased to over £20 million driven by the increasing demand for high quality home care, as both a personal preference for end users enabling many to remain in their own homes for longer, whilst offering value for money to local authorities.  We look forward to working alongside the London Care team to further grow and develop the business." 

Robbie Burns, Chairman of London Care added: "We are excited by the new opportunities that working with Sovereign will bring to the business, in taking London Care to the next stage of its development.  Sovereign has very strong credentials in the healthcare services sector and their ongoing financial commitment to London Care will allow us to further expand our operations throughout the UK and diversify our care offering." 

Sovereign have committed total funding of £25 million to London Care and are in active discussions with a number of complementary domiciliary care businesses as part of its proven Buy & Build strategy.