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Sovereign Capital acquires care business for City & County Healthcare

Sovereign Capital has acquired Guardian Homecare as the second bolt-on for its domiciliary care provider, City & County Healthcare, in six months.

Established in 2000, Guardian employs around 275 care workers, directly delivering over 10,000 hours per week of care and support in the home, mainly to elderly people and those with learning disabilities.  

The business has five branches across north-west and south-east England and Northern Ireland and seven franchises in England.

The location of its branches and franchises complement those of City & County as they are either in areas not currently covered by City & County, or areas that will strengthen City & County’s presence further, such as the South East.

Together, Guardian and City & County Healthcare will provide over 50,000 hours per week of care in a wide range of services, from help with household tasks to assisting those with complex care needs requiring a number of care and support services.

The Guardian management team, led by Sue Wheeler, will work alongside City & County’s team, headed by Craig Rushton, to operationally integrate the businesses and continue to grow the regional client base.
Lloyds TSB Corporate Markets acquisition finance structured a GBP5m senior debt facility to support the bolt on.
Dominic Dalli, partner at Sovereign, says: “The demand for high-quality domiciliary care continues to grow as it provides a cost-effective alternative to residential care, while also satisfying the personal preference of many end users, who prefer to remain in their own homes. The acquisition of Guardian complements City & County’s offering and geographic coverage, and we look forward to supporting management to capitalise on the growth opportunities of the expansion.”
Steve Carr, associate director at Lloyds TSB Corporate Markets acquisition finance, adds: “Guardian is an excellent strategic fit for City and County Healthcare Group, as it complements the business’s existing approach and provides strong opportunities to expand geographically to become a domiciliary care provider with national reach.”
Sovereign has committed total funding of GBP25m to City & County.

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