During the five years that Sovereign backed Complete Group, the company more than doubled its client base to become one of the UK’s leading promoters of independent, supported living to those suffering from severe long-term illnesses.
Sovereign’s extensive healthcare services experience enabled the firm to recognise Complete as a premium service provider in the growing market of healthcare at home.
In 2002, Sovereign backed co-founder and CEO, Barbara Scandrett, in an MBO to acquire Complete Personal Assistance (Complete), a specialist provider of bespoke care packages to adults and children with severe long-term illnesses or disabilities in areas such as spinal injury recovery. With significant barriers to entry and unmet demand fuelled by new clients wanting independence, as well as the need to unblock beds from spinal units and hospitals, Sovereign shared Barbara’s vision and passion for growth.
In partnership with Sovereign, Complete was able to invest significantly in building its business. The company hired a new Finance Director and Chairman and expanded its services geographically as well as being able to provide care for a broader range of disabilities. In 2007 Complete made the bolt-on acquisition of Paediatric Nursing Link, which enhanced the group’s penetration into high end paediatric care and improved Complete’s reach into the London area.
At exit, Complete Group had more than doubled its client base and experienced strong and consistent year-on-year revenue growth, averaging 27% per annum during the final three years of the investment.
In Sovereign we were fortunate to find a partner who shared our vision and passion. We are now able to provide our care to many more clients, making a real difference to their quality of life.
Barbara Scandrett / Founder