Pan-European mid-market private equity firm Agilitas has supported the management buyout of Exemplar Healthcare, a UK provider of residential nursing care for adults with acute physical and mental disabilities (PMD) and learning disabilities (LD).
Consideration on the transaction is not being disclosed.
The group, which is based in Rotherham, operates 25 high quality, purpose-built specialist nursing homes, providing more than 700 beds across Yorkshire, Humberside, the Midlands and the North West. It employs approximatly 2,100 staff and generated revenues of GBP55 million in the year ended 31 March 2016.
Exemplar has an experienced management team, which is led by managing director Euan Craig.
As part of the transaction, additional capital has been committed to the group to fund its future expansion. The group is planning to invest in new care homes and in creating additional “step-out” units as extensions to existing homes to extend care pathways for adults ready for more independent living, but with close care supervision.
There are currently 18,000 to 25,000 younger adults with complex PMD in England who are currently in some form of residential care. The most common conditions are schizophrenia, early onset dementia, Huntington’s and Acquired Brain Injury (ABI). A further 5,000 are believed to be in NHS long-stay hospital care. There are 10,000 to 15,000 users with complex and high acuity LD needs. Funding for care of these people comes mostly from the NHS and from local authorities.
Martin Calderbank, managing partner at Agilitas, says: “Exemplar is one of the regional leaders in the care of individuals who live day to day with these complex conditions. We are excited by the opportunity to help Euan and his team expand their operations and make Exemplar’s high standards of care available to many more people.”
Tor Midsem, Agilitas partner and Exemplar board member, says: “We have been impressed by what has been achieved at Exemplar so far and look forward to working with Euan and all the team to help continue the forward momentum.”
Euan Craig, managing director of Exemplar, adds: “We are building a reputation at Exemplar for bringing an end to cycles of failed placements by tailoring care to meet complex needs. The outcomes we achieve enhance lives and better meet the needs of the CCGs and local authorities and trusts that we serve. We are determined to bring our high standards of care to far more people suffering acute illness and injury, and the investment that Agilitas brings will enable us to build many more homes and further develop our services.”
