UK Private equity house Maven Capital Partners (Maven) has led the management buyout (MBO) of Acton Banks Limited (Acton Banks), a UK healthcare staffing business.
The transaction is Maven’s third investment from its buyout fund, having earlier this year led an investment in Manchester-based hardware designer and supplier UAP Limited and Glasgow-based John McGavigan Limited, a leader in decorative technology used in the automotive sector.
The transaction, which includes an investment of £9.65 million from Maven and a significant investment from the senior management team, will enable Acton Banks to continue to roll-out its highly efficient operating model, further enhance its breadth and depth of service offering to existing clients, as well as expand into new territories outside the Midlands and the North West.
Acton Banks operates a 24-hour, seven-day-a-week service, placing registered nurses and healthcare professionals throughout the Midlands and North West into nursing homes, NHS hospitals, care homes, residential homes, and rehabilitation centres in both the private and public sector. Established in 2006, Acton Banks has grown to become one of the largest and most respected healthcare staffing providers in the region.
Demand for Acton Bank’s services remains strong given the continued pressures in the healthcare markets driven by supply and demand for leading healthcare professionals. The team has built-up a strong network of healthcare professionals across a range of specialisms, which it plans to expand further as part of Maven’s investment. They differentiate themselves through speed of response, breadth of candidates, personal service and the ability to provide bespoke training for both customers and candidates.
Andrew Ferguson, Partner at Maven, says: “We are delighted to have completed the third investment on behalf of Maven’s UK Buyout Fund. Acton Banks is a high growth, market leading business in the staffing agency sector with a highly professional and experienced management team. Maven will provide the business with committed capital to pursue its growth strategy, with senior management knowing they have a supportive investor backing their strategic growth plans. We look forward to working with the company as it continues its regional expansion and seeks to deliver on its ambition to create a nationwide multi-service healthcare business.”
Dharsa Mander, CEO of Acton Banks, adds: “We are really pleased to have an experienced private equity team with sector experience supporting the business; one which supports our vision of creating a much larger leading healthcare services business with an expanded geographical footprint. We are well-positioned to invest in our staff and candidates with a view to expanding our offering to the market. We have been impressed with the team at Maven and look forward to working with them over the coming years.”
Alantra introduced the deal and advised management on the transaction.