South: James Cowper advises City & County Healthcare Group on MBO
Thames Valley accountants and business advisers James Cowper has advised City & County Healthcare Group on a successful secondary management buyout (MBO) from Sovereign Capital Partners LLP with backing from Graphite Capital.
City & County provides high-quality home care assistance, primarily for the elderly. It also provides specialist care services for young people and adults with more complex or long-term conditions such as learning disabilities, mental health needs and brain injuries. Operating from 64 branches across England, Wales and Northern Ireland, City & County’s carers provide care to over 15,000 individuals a year, primarily on behalf of local authorities and the NHS, but also to private clients.
James Cowper has been advising City & County for four years as the company has expanded its geographical reach, including its first Welsh acquisition of ISS Healthcare.
Stuart Williams, corporate finance senior manager at James Cowper, said: “City & County is an extremely successful company that has established itself as a leading UK domiciliary care provider. I look forward to assisting them as they embark on the next leg of their journey.”
This is the first investment made from Graphite's new £500 million fund, Graphite Capital Partners VIII, which closed in October.
Craig Rushton, chief executive, City & County, commented: “Graphite brings a wealth of experience in the care sector and has been successful in backing and developing a series of best-in-class businesses. We are looking forward to working together to provide the elderly and less able with the highest-quality home care services.”
Mark Hall, Graphite partner, added: “City & County is a first-class business run by a strong management team and provides a critical service. The care sector is one we know well and we believe that, with our help, City & County will capitalise on its excellent potential for growth, both organically and via strategic acquisitions.”
In 2013, James Cowper’s corporate finance team advised on 20 corporate finance transactions.
