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Bowmark Capital sells Advanced Childcare

Bowmark Capital, a mid-market private equity firm, has sold Advanced Childcare to GI Partners, a private equity firm focused on investments in asset-intensive businesses and real estate platforms, for GBP28 million. 

Advanced Childcare, which is based in Stockport, Greater Manchester, provides care and education to young people with behavioural, emotional and social difficulties.
Since Bowmark acquired the business at the end of 2004, Advanced Childcare has expanded across the north of England and the Midlands, growing from a base of seven care homes with 40 residential beds to its current estate of 30 care homes with 123 residential beds and two fostering agencies.  Advanced Childcare now has more than 60 local authority clients across England and has an outstanding reputation for high quality care, as a result of the successful outcomes it achieves for young people, and its market-leading quality ratings from Ofsted. 
The sale generated a return of more than four times Bowmark’s investment.
Ron Pearson (pictured), a partner of Bowmark, says:  “Advanced Childcare has capitalised on the increasing demand from local authorities for high quality, fair value care provision, by combining the highest standards of care with a broad range of services to meet the diverse needs of individual clients.   It has an excellent record of achieving positive outcomes for young people, and the success of the company under our ownership is a testament to the quality of the management team.”
Rizwan Khan, chief executive of Advanced Childcare, adds: “Our partnership with Bowmark has been very successful.  We now look forward to our next phase of development, with our new capital partners, GI Partners, when we will aim to capitalise on the significant growth opportunities in our market.”

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