August Equity has secured a £23 million acquisition facility for portfolio company Enara, a domiciliary care provider. The facility, provided by HSBC, was partially drawn on completion to fund the acquisitions of Marian Homecare, Abbey Home Care Agency and Community Careline Services Limited. Since the initial acquisition Enara has announced 9 bolt-ons. The companies now making up the group are:
Enara is led by Stephen Booty, CEO, who has extensive experience in the healthcare sector having previously been chief executive of Nestor Healthcare. August Equity has appointed Charles Auld as chairman. Charles is ex-chairman of Healthcare Homes Group, a previous August Equity portfolio company, and a former CEO of General Healthcare Group.
Philip Rattle, the August Equity partner who sits on the Enara board, said: “We are pleased with the new acquisition facility provided by HSBC which will allow the group to continue its rapid growth, as seen by the latest round of acquisitions. The management team is of a high calibre and is well placed to grow the business. We are keen to add to the current high service levels offered by the group and hope to announce additional acquisitions in the near future.”
For further details of the transactions contact Philip Rattle at philip.rattle@augustequity.com