August Equity managed funds have committed £23 million to fund the merger of Active Assistance and First Call, an existing portfolio company. The commitment will provide funding for further acquisitions.
Active Assistance, based in Sevenoaks, Kent, provides a national live-in care service for adults and children with spinal cord injuries and neurological conditions. Many of its clients are tetraplegics, requiring a constantly high level of care from live-in personal assistants.
First Call, based in Billericay, Essex, with a particular focus on the South East of England, provides a live-out care service to children and adults with a wide range of clinical conditions including spinal injury, cerebral palsy, forensic behaviours, learning difficulties and mechanical ventilation.
Charles Auld, chairman of the group, commented: “I am delighted to have the opportunity to take part in this deal. Both Active and First Call have excellent reputations in the complex homecare market and bringing them together will create natural synergies. August Equity has a long track record of investing in healthcare companies and together we hope to create an even stronger group that will lead the market in its service offerings.”
Aatif Hassan, August Equity, said: “The latest transaction is highly complementary to our current portfolio. We have a great deal of experience in the homecare market and we are delighted to have invested in Active, which is renowned for its strong brand and excellent service offering in spinal injury homecare. The merger with First Call will create a strong group that is ripe for growth and we hope to add new acquisitions within the coming months.”
The latest transaction represents August Equity’s fifth investment from August Equity Partners II. The deal team consisted of Aatif Hassan, Philip Rattle, Keith Davidson and Mehul Patel. Aatif Hassan and Philip Rattle will join the board as non executive directors.
For details on the deal contact Aatif Hassan at aaitf.hassan@augustequity.com