Buy and build investment group Tristone Capital has acquired one of the 海角视频's leading businesses providing care for people who have complex support needs.
ProCare (Wales) Ltd employs 140 staff across two care homes and a community living service in North Wales, and has been bought as part of the second deal in the past six months for Tristone Capital's healthcare division.
Rhyl-based ProCare was founded in 2001 by Helen Shepherd and claims to be one of the 海角视频’s leading high acuity care businesses, providing care for people with complex support needs, including learning disabilities, autism, mental health disorders and acquired brain injuries.
As part of the transaction, Helen Shepherd will retain a minority shareholding and continue in her role as managing director.
Ms Shepherd said: “I am extremely proud of Procare’s track record in striving for excellence, and in consistently delivering high quality support to the people we care for.
"I am delighted that in Tristone we have found a new partner, with the right values that are closely aligned with our own.
"This partnership will enable our work to continue in a way which maintains the strong reputation we have established in the communities we serve."
Tristone Healthcare said its investor’s strategy is to acquire high-quality businesses with strong fundamentals, delivering outstanding care and support to vulnerable people who need it most.
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Tristone founder and CEO, Yannis Loucopoulos, added: “We have been speaking to Helen for some time and over that period it was evident that under her leadership, the team has built a highly successful and respected company that delivers best-in-class care and support.
"ProCare fits well with our acquisition criteria, as a company which delivers outstanding services and is well-run.
"We are excited to work with such an experienced management team and are looking forward to supporting ProCare’s next chapter of growth, delivering additional services and in the process creating more jobs for the local community."
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Led by Jason Whitworth and Chris Cumber, BDO LLP provided M&A corporate finance advice and tax advisory services to ProCare.
Hill Dickinson LLP, led by Craig Scott and Elan Iorwerth, provided legal advice to the vendor.
Mr Whitworth said: “We are delighted to have worked with Helen and her team to deliver this transaction.
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"Helen has built a business with an exceptional reputation in caring for some of the most vulnerable people in the community. Working with the team at Procare, Tristone will be able to support the business to develop and expand the care it can deliver.
"It is a fantastic outcome for all parties.”
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 financial and taxation due diligence support