Private equity-backed home care business expands
Article Date: Mar 02 2009Enara Group, a provider of domiciliary care services backed by private equity firm August Equity, has made two further acquisitions in Kent.
The group bought County Care, which provides care to the elderly, as well as five of the six businesses of The Home Service Group, which provides support to older people and adults with health problems or learning difficulties.
Aatif Hassan, an investment director at August Equity, says Enara has announced six bolt-on acquisitions since the original buy-out last November for £20 million.
Hassan adds, ‘The acquisitions [of Country Care and The Home Service Group] allow Enara to expand its geographical reach with entry into the Kent market.’
Financial advisers on the deal included Iain Highland of Highland & Co, who acted for Home Service, and Peter Nuttall of EBIDTA representing County Care.
With £285 million under management, August Equity makes investments of between £10 million and £50 million in UK-based companies in the healthcare, technology and media, industrial products, and business services sectors.
