A Manchester-based buy and build investment group has acquired a Bristol care firm helping vulnerable adults, young people and young offenders.
Tristone Capital has today announced the acquisition of Premier Care Management, a firm founded in 2009 as a provider of community and outreach services within the South West as an alternative to residential accommodation and support.
The Bristol-based organisation provides supported accommodation for young adults across 13 properties with a team of 26.
The acquisition was completed through Tristone's healthcare division, and as part of the transaction, Hayley Williams will retain a minority shareholding and continue in her role as managing director.
Ms Williams said: “We’ve built a strong reputation for providing alternatives for those in care and those leaving care, to move from adolescence into adulthood and ensure its successful and a safe transition.
"Our experienced team strives to provide our young people and adults with positive and successful outcomes to reach their full potential.
“We believe the business has significant future potential and to maximise this, we would need to find a partner to support the next stage of growth and ensure an effective succession plan. As well as sharing our values and vision for Premier Care Management, Tristone brings the deep industry expertise, infrastructure and business experience that we were looking for.”
The move comes as part of Tristone's ongoing growth strategy, with the firm having recently launched an independent safeguarding board.
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The board is made up of seven leading industry figures responsible for observing and overseeing care and safeguarding matters for Tristone Healthcare’s portfolio of businesses.
Tristone founder and CEO, Yannis Loucopoulos, added: “Hayley and the team at Premier Care Management have built a highly-regarded business delivering life-changing support services.
“As we continue to grow our community of investment businesses across the 海角视频, we recognised that Premier epitomised our acquisition criteria - a company which delivers outstanding services and is well-run, profitable and cash generative. In addition, we identified clear synergies with the service offering and location of current portfolio business, Sportfit Support Services.”
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He added: “We look forward to working with the team to support future growth and delivery of the excellent support which has become Premier Care Management’s hallmark.”
The deal was brokered by Redwoods Dowling Kerr. Tristone was advised by business advisory and accountancy firm MHA Moore and Smalley, led by corporate finance director, Simon Carruthers and tax partner David Bennett, who provided deal advisory and taxation due diligence support.
St John’s Legal provided legal advice.
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Mr Carruthers, corporate finance director at MHA Moore and Smalley, said: “Premier Care Management is a great addition to Tristone Healthcare’s impressive portfolio of purposeful businesses that are creating real community impact.
"We’re proud to have assisted Tristone on this strategic acquisition that will deliver benefits for a wide range of stakeholders, especially in allowing Premier Care Management to secure the investment needed to help even more people.”