At the time of realisation Sona was the leading provider of in-house fitness and wellbeing services to corporate clients in the UK.
During the investment period the business achieved significant growth and extended its services into areas such as physiotherapy, nutrition, complementary therapies and medical services. It had an extensive blue-chip client list including sector leaders such as GlaxoSmithKline, Vodafone, Clifford Chance and HSBC. The management team was led by Chris Jessop, chief executive.
Funds managed by August Equity completed the £6.6 million MBI of Sona in 2001. Sona was initially identified as a platform to build a leading corporate healthcare services provider. In the two years following the investment, five businesses were acquired and successfully integrated. This strategy, as well as providing strong revenue growth, also allowed a re-rating of the business and generated a strategic premium on exit.
The realisation of Sona Group was completed in 2005 via a trade sale to Nuffield Hospitals. August Equity negotiated and structured the sale directly with Nuffield following an approach in late 2004. Nuffield was attracted by Sona's leading market position and its strong relationship with blue-chip corporate clients.