Hundreds of jobs at dozens of care homes across the º£½ÇÊÓƵ have been secured after a charity’s services were bought by South West care group Agincare Holdings.
Agincare has acquired the majority of business operated by care and support services charity Ambient Support and its subsidiaries.
Ambient Support had appointed Julie Palmer and Andrew Hook from Begbies Traynor Group and Robert Insall from BTG Advisory for restructuring advice. Begbies Traynor recommended a sale of the business and began an accelerated sale process, which saw 31 interested parties consider the purchase under NDA and six parties make an offer.
The deal completed this week and will see Agincare acquiring the services offered by Ambient, mainly including care and support to people over the age of 18 with mental health needs or learning disabilities. It will see the continued operation of 80 homes and services across the º£½ÇÊÓƵ, securing more than 800 jobs and protecting some 700 people's care and support provision.
Dorset-based Agincare was founded in 1986. Today the family-owned group employs more than 4,500 care professionals across more than 100 locations.
Julie Palmer, managing partner at Begbies Traynor, said: “The completion of this deal means that a significant number of residents can continue to access crucial health and social care services while preserving the jobs of more than 800 specialist employees.
“Under the new leadership of Agincare, the business can move forwards and the residents and their families will be pleased after a period of uncertainty.
“Early engagement with the Begbies Traynor Group team working across a number of its service lines from restructuring to advisory together with our in-house specialist property team has been crucial to helping Ambient progress.â€
Raina Summerson, group CEO of Agincare Holdings, said: “We are delighted to complete this deal to keep 80 sites across the º£½ÇÊÓƵ open and welcome the talented 800-strong team to our group.
“It is critical that high-quality, affordable, social care is there for people when they need to draw on it. We want to thank Begbies Traynor for the support and advice in getting this deal over the line and we are committed to reinvigorating the Ambient services and investing in the workforce as part of our sustainable growth across the group.â€
