August Equity LLP ("August Equity") is pleased to announce that its portfolio company Lifeways Community Care Limited ("Lifeways"), has acquired Kentwood Limited ("Kentwood"), a provider of care and support to adults in residential, domiciliary and supported living environments, for an undisclosed price.
Kentwood is an established care provider operating throughout Gloucestershire, Bristol and Worcestershire. It offers specialist care to people with challenging needs such as autism, mental health disorders, physical disabilities and learning disabilities. The company provides care for 60 service users in their own homes or in residential care homes.
Lifeways, backed by August Equity in July 2007, is a market leading for-profit provider of supported living for people with complex needs and, together with debt provided by HSBC, August Equity has now invested almost £60 million to the buy-and-build strategy.
The acquisition by Lifeways follows the strategy developed by August Equity and the management team to increase the scale of Lifeways' geographical influence through organic and acquisitive growth. August Equity will continue to support the Lifeways management team in continuing to develop the business whilst maintaining the high standards and ethics that have been central to the company's success.
Commenting on the acquisition, Philip Rattle, partner at August Equity, said: "The acquisition of Kentwood reinforces Lifeways' reputation as a leading provider of a flexible and service user focused approach and further highlights its commitment to high quality service throughout the UK."
Aatif Hassan, at August Equity, commented "We want to capitalise on the huge growth opportunities in the healthcare service industry at the moment and are planning further acquisitions in the near future."
Paul Marriner, chief executive, Lifeways, said: "Since its inception in 2003, Kentwood has shown impressive growth built on its excellent reputation for quality of care provision. The acquisition will help us to enhance the service offering to our clients and develop our next phase of growth."