Horizon Care has completed the strategic acquisition of Educare Adolescent Services. Horizon Care is backed by NBGI Private Equity and is a UK-based provider of specialist care and education to children with severe and complex needs.
Horizon Care, a leading Midlands based provider of specialist care and education to children with severe and complex needs, backed by NBGI Private Equity (“NBGIPE”), has completed the strategic acquisition of Educare Adolescent Services Ltd (“Educare”).
Educare, which is also based in the Midlands, works closely with local authority commissioners to deliver high-quality care and education to children aged between 11 and 18 in attractive, homely residences located near to their family’s origin.
Following the acquisition, Horizon Care comprises 34 homes and 7 schools. The investment adds to Horizon Care’s existing services in Staffordshire, Greater Manchester and Kent, providing a presence in Shropshire and Leicestershire, as well as introducing a new education service for children of primary school age.
NBGIPE acquired Horizon Care in June 2012 – one of three new investments completed last year. The acquisition of Educare represents the firm’s third add-on deal in the past 12 months.
Belinda Berkeley, who led the deal for NBGIPE, supported by David Turner, commented:
“This acquisition is a significant step in Horizon Care’s strategic growth plan, with Educare providing an increased geographical presence and additional expansion opportunities. We will continue to invest in the business’s future growth, both organically and through acquisitions where there is a strong strategic fit and high quality of service.”
Thelma Turner, Chief Executive of Horizon Care, said:
“Educare offers highly complementary services to those of Horizon Care and there is a shared ethos for delivering the very best care and education to young people in a homely environment. We look forward to working with the Educare team and growing the combined business, based on Horizon Care’s psychologically informed model of care and support.”
The Co-operative Bank provided additional debt facilities to support the transaction.
For further information please contact:
NBGI Private Equity Belinda Berkeley +44 (0)20 7661 5678
Equus Communications (for NBGIPE) Piers Hooper / Sam Barton +44 (0)207 223 1100
NOTES TO EDITORS
NBGI Private Equity (www.nbgipe.co.uk)
• NBGI Private Equity (“NBGIPE”) launched in June 2000 with a particular focus on investments in established businesses in the UK or Ireland;
• NBGIPE typically invests in businesses of £5m to £50m in value. It invests in established businesses alongside strong management teams, supporting their business development plans and providing additional funding where needed for both organic growth and acquisitions. NBGIPE invests across a range of sectors, deploying its capital in a variety of investment structures including management buy-outs, management buy-ins, growth capital and turnarounds;
• In total NBGIPE manages approximately €900million across a number of funds in the UK, Western Europe and Emerging Europe;
• The NBGIPE investment team is deliberately top heavy and most have managerial experience in industry prior to their extensive experience in private equity. Their approach is commercial, focusing on the key business issues to ensure a rapid response to investment opportunities and an efficient process through to completion. The company’s Investment Committee comprises its four executive directors, allowing it to deliver promptly on key decisions; and
• NBGIPE sees its role as a partnership with its investee companies, to back up and add to the judgment of management with its strength of resources, both human and financial.
NBGI Private Equity Limited is Authorised and Regulated by the Financial Services Authority.