NBGI Private Equity closes Horizon Care buy
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Childcare provider Horizon Care has been acquired by NBGI Private Equity and the firm will now look to double the size of the business.
Mid-market focused investment firm NBGI Private Equity (NBGIPE) has purchased Horizon Care for an undisclosed amount.
Midlands-based Horizon Care provides for children with emotional and behavioural difficulties. The business has 13 residential care homes and three schools across the West Midlands, North West and Kent.
On the back of the acquisition NBGIPE is planning to double the size of the company by pursuing an acquisition and organic growth-led strategy over the next three to five years.
According to a statement, NBGIPE has been looking to invest in the 'specialist' children's care market for some time and believes that Horizon Care is a 'great opportunity' to build a child care business which can offer Local Authorities a long-term, value-for-money care service.
Following the deal, the existing management team led care and operations director Amanda Knowles will remain with the company. Thelma Turner is being brought in as CEO for the business, on the back of 35 years in the social care sector, and David Burton has been hired as financial director.
NBGIPE says that acquisition opportunities will arise due to the economic pressure which has been placed on 'a number' of small care operators, putting them at risk.
Horizon Care's Knowles says, '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.'
Belinda Berkeley, associate director at NBGIPE led the deal for the firm and will join the board of Horizon Care. She says that the business can build on its strengths to create a leading children's care provider with a reputation for positively changing children's lives.