NBGI Private Equity Acquires Horizon Care

NBGI Private Equity has acquired Horizon Care, a specialist child care provider based in the Midlands in the UK and has committed further funds for expansion. NBGIPE has backed a newly appointed senior management team comprising Thelma Turner as CEO, David Burton as financial director and Stephen Lambert as chairman to join Horizon Care and work alongside the existing management team led by Amanda Knowles, the care and operations director.

PRESS RELEASE

NBGI Private Equity (“NBGIPE”) has acquired Horizon Care, a leading specialist child care provider based in the Midlands and has committed significant further funds for expansion.

Horizon Care provides care for children with severe emotional and behavioural difficulties and currently operates 13 residential care homes and 3 schools in the West Midlands, North West and Kent. Horizon Care represents a strong platform from which to grow and expand services to develop a leading child care business offering Local Authorities a high quality, long-term, value for money care solution.

NBGIPE has backed a newly appointed senior management team comprising Thelma Turner as CEO, David Burton as Financial Director, and Stephen Lambert as Chairman to join Horizon Care and work alongside the existing management team led by Amanda Knowles, the Care and Operations Director, who is a leading figure in the child care services sector.

Amanda has developed Horizon Care’s services around a ‘Therapeutic Care Model’, offering highly supportive care for children, in a nurturing environment with a strong emphasis on educational achievement where fostering is not always an appropriate solution. This intensive care service encourages a child’s development and helps to reduce the young person’s future reliance on care services. Amanda has fostered a culture of excellence in the business reflected in the majority of homes being rated as ‘Outstanding’ by Ofsted, the industry regulator.

Economic pressure has put a number of the smaller care operators at risk, providing Horizon Care the opportunity to make acquisitions and build a sustainable business offering flexible services and long-term value for money to Local Authorities. NBGIPE has a proven track record of investing in small and medium sized growth businesses and employing a supportive, proactive approach in order to develop stronger, more valuable businesses.

Belinda Berkeley, who led the transaction for NBGIPE and will join the Board, commented “I am delighted to have the opportunity to work with a dedicated and passionate management team to assist in Horizon Care’s future growth, building on the business’s existing strengths and creating a leading multi-regional children’s care provider with a reputation for positively changing children’s lives whilst offering long-term value for Local Authorities”.

Thelma Turner, CEO comments: “I am excited to be joining what is already an extremely well run business that leads its industry in care and support. We are confident that with NBGIPE’s capital and operational backing we will be able to develop a business over time that rewards all of its stakeholders and I am looking forward to a dynamic future with my new partners.”

Care and Operations Director, Amanda Knowles comments:
“With NBGIPE’s backing and the support of this very experienced management team, I am confident that Horizon Care will strengthen its position as an already well respected provider of quality therapeutic care and will go on to become a market leader in the development of complimentary services, providing creative solutions, value for money and good outcomes for young people, their families, placing authorities and government.”

Mark Owen, Belinda Berkeley and Rupert Brown worked on the transaction. The Cooperative Bank provided the debt. NBGIPE were advised by Hazlewoods LLP, CIL, KPMG Transaction Services and Pinsent Masons LLP.

© 2012 NBGI Private Equity Limited. All rights reserved.