James Cowper advises City & County Healthcare Group on MBO
Accountant and business adviser firm James Cowper has advised City & County Healthcare Group on a secondary management buy-out from Sovereign Capital Partners with backing from Graphite Capital.
City & County provides 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’ 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.
James Cowper has been advising City & County Healthcare Group 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, says: “City & County Healthcare Group 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 GBP500m fund, Graphite Capital Partners VIII, which closed in October.
Craig Rushton, chief executive, City & County, 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, says: “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.”
In 2013, James Cowper’s corporate finance team advised on 20 corporate finance transactions.
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