Aspirations team closes BIMBO
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August Equity has led a buy-in management buy-out (BIMBO) of Aspirations Care Group, a Gloucestershire-headquartered community care business.
The existing management team of Aspirations Care Group has completed a buy-out of the business alongside a group of new managers.
The private equity firm, which closed its last deal in late April through a four-business acquisition bolt-on play for Enara Group, is backing a management team led by CEO Christine Cameron.
Former COO of Craegmoor, Cameron is joined by new chairman Stephen Booty. Cameron has 20 years' experience in the health and social care sector and specialises in learning disability and autism.
Aspirations Care provides services related to aiding people with 'complex and challenging behaviour'. The business supports 700 people and employs 1,000 staff.
Cameron comments, 'Through August Equity backing we have the opportunity to create one of the UK's leading and highest quality services, supporting those who others see as challenging.
'Our management team is passionate about providing an outstanding service to people with complex needs and challenging behaviours and we firmly believe the service we provide is what we would demand if any of our family required support.’
Aatif Hassan, partner at August Equity, says Aspirations Care is one of the largest businesses in its field and has a strong track record of supporting adults and children with challenging behaviour.
Other deals closed by August Equity in the past six months include a number of bolt-on acquisitions for Enara, Active and Funeral Services Partnership.