BGF invests GBP4m in CSN Care Group
BGF has invested GBP4 million in fast-growing UK homecare business CSN Care Group (CSN) to support the company with its longer-term growth plans.
CSN is a leading social care provider which operates a national network of owned and franchised branches across the UK with headquarters in Edinburgh and Milton Keynes. Its care brands include Carewatch, MyLife and New Directions.
The business was founded by Executive Chairman, Scott Christie, and Managing Director, Craig Hendry, in January 2019 as a result of a management buyout of part of the Carewatch Group. Since the MBO the Group has grown significantly to deliver more than 50,000 weekly hours of care providing a broad range of homecare services including social care, privately funded care, live-in care and high-acuity specialist care services.
BGF’s funding will be used to support continued organic growth and to pursue selected M&A opportunities to supplement CSN’s existing branches, with a particular focus on providers of private and high-acuity care.
Alongside BGF’s investment, CSN has appointed Dr Andrew Dun to the Board as Non-Executive Director. Dun has a strong clinical and quality background and a wealth of experience in the social care sector. Early in his career Andrew was a GP before taking on several commercial roles in the social care sector, including as CEO of Enara, a highly acquisitive and fast-growing social care business. Andrew has served on numerous Boards including most recently Orbis Education and AJM Healthcare.
Scott Christie, Executive Chairman at CSN Care Group, says: “We are pleased to be partnering with BGF for the next stage of our growth. BGF were selected as the right partner for us due to their long-term approach and the strong relationship we have built with the team over several years. We look forward to working with Andrew and the BGF team as we continue to provide high quality care, build our capabilities in high-acuity care and make acquisitions that have a strong cultural fit with CSN.”
David Gammie, who led the investment for BGF, says: “We are delighted to announce our investment in CSN. It has grown extremely well over the last couple of years providing a broad mix of care across the UK.
“We are backing a strong and highly-experienced management team in Scott and Craig, and we are pleased the Board has been further strengthened with the appointment of Dr Andrew Dun. We look forward to working with the whole team to support CSN on the next stage of its growth journey.”
Dr Andrew Dun, incoming Non-Executive Director says: “CSN is an extremely well-run business, committed to providing high quality care outcomes to their customers. I am delighted to be joining the Board and I look forward to working with the CSN management team and BGF to support the business in achieving its longer-term growth objectives.”