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Graphite Capital backs MBO of City & County Healthcare

Mid-market private equity specialist Graphite Capital has backed the management buy-out of City & County Healthcare Group (C&C), the UK’s fourth largest home care provider, from Sovereign Capital Partners.

This is the first investment made from Graphite’s new GBP500m fund, Graphite Capital Partners VIII, which closed in October.
 
C&C 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, C&C’s carers provide care to over 15,000 individuals a year, primarily on behalf of local authorities and the NHS, as well as to private clients.
 
Chief executive Craig Rushton and the senior management team, who are all re-investing a substantial part of their sale proceeds, have grown the business significantly since its creation in 2009, completing and integrating 15 acquisitions. Graphite and the C&C management team plan to expand the business through a combination of organic growth initiatives, strategic acquisitions and the development of specialist care services, in partnership with the NHS and local authorities across the UK.
 
Rushton says: “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, adds: “C&C 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, C&C will capitalise on its excellent potential for growth, both organically and via strategic acquisitions.”

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