Key Capital Partners backs Nurse Plus management buyout
Independent private equity house Key Capital Partners has supported the GBP15m management buy-out of nursing and care staffing specialists Nurse Plus.
Established in 2005, Nurse Plus specialises in staffing solutions for domiciliary care and the provision of temporary professionals to the healthcare sector, including learning disability and mental health units, schools, prisons, hospitals and care homes.
Canterbury-based Nurse Plus operates from a network of 26 branches in the UK and manages over 1,000 temporary workers. The firm maintains its own in-house training facilities for regular training courses for its staff and is licensed to provide services by the Care Quality Commission.
The GBP6.5m investment from KCP will fund the expansion of the business to 40 branches within five years and support the development of over a thousand more highly trained nursing and care staff. The Co-operative Bank provided a GBP4.3m debt facility to support the management buyout.
KCP investment partner Mike Fell and director Philip Duquenoy will join the board at Nurse Plus.
Heath Blake, managing director of Nurse Plus, says: “Our determination to improve patient care has been integral to our decision to take on external investment. Expanding the branch network and increasing our capacity to train more quality staff is essential to our business and in helping those in need. We look forward to working closely with the team at KCP to fulfill our ambitions.”
Fell says: “The UK’s ageing population, coupled with the Government’s drive to increase choice for NHS-funded services through its ‘Any Qualified Provider’ commitment is driving demand for high quality and flexible nursing and care services.”
- Special Reports
- By Location
- By Subject
Latest Special Report
- How to set up a hedge fund