August Equity, a UK lower mid-market private equity firm, has backed a second round of bolt-on financing in a week for portfolio company Enara Group.
On Friday 30 January, Enara bought Beech Care and Nursing Agency, a privately-owned domiciliary care agency. Today it added the simultaneous acquisitions of Companions Care and Freshford Homecare.
Deal terms were not disclosed for any of the transactions.
Both Companions Care and Freshford Homecare are based in East Sussex and provide home care for the elderly on behalf of local authorities and private individuals.
August Equity carried out a £20m buy-and-build of Enara in November 2008 with the initial buyout of Enara and the simultaneous acquisition of First Call Care Services.
London-based August Equity, previously known as Kleinwort Capital until a change in its investment base in 2006, has one other healthcare investment in its current portfolio, Lifeways Community Care, a supported living business acquired for an undisclosed sum in 2007. Realised investments include Healthcare Homes, InterMed, Ora Dental and Health Clinic.
Source: Thomson Merger News