Corporate Bulletin Update - August 2007
Experts In Care
Sector Transactions
There has been significant growth in the private health care sector, with an enormous amount of consolidation in the market.
As the regulatory requirements become more and more stringent, larger firms with greater resources have been on the acquisition trail. Our specialist knowledge and experience in the care sector ensures transactions can be properly structured and any legal questions answered quickly and effectively. It’s this ability to assist clients that has seen the firm’s care team, led by corporate finance partner Philip Raven, build up a significant portfolio of satisfied clients.
Read what our clients have to say . . .
David Messenger, managing director of the Elder group, comments: “I have been working with the care sector team at Freeth Cartwright for a number of years now and continue to be impressed with their knowledge of this specialised sector and their ability to deliver a deal in the face of adversity. “In particular, I find the way in which they identify issues and deal with them either before completion or by re-structuring an element of the deal not only avoids operational issues post-completion but also saves us money.”
Recent deals handled by the team include advising Acorn Home Care during its acquisition by the Claimar Care Group plc for £10,250,000. Nottingham-based Acorn had itself recently acquired Twenty4Seven Homecare Services Limited and Stockwell Care Services Limited - with Freeth Cartwright advising on both deals.
Acorn Home Care’s founder Patrick Quinn, commented:
“We have built up a good relationship with Freeth Cartwright, whose knowledge of the sector and market place has been a tremendous benefit to us.” Recent account wins and the two acquisitions made Acorn a healthy prospect for Claimar, which was looking to consolidate its position as a leader in its field of operation.
Another recent deal is the £175m management buy out of Leeds-based Orchard Care Homes, which looks after local authority-funded customers and private clients. Orchard is one of the fastest-growing care home businesses in the country, priding itself on its standards of care and
commitment to ensuring that its elderly customers have better places in which to live.
Freeth Cartwright also advised Leeds-based Maria Mallaband on its recent acquisition of Dawaking Care Limited, a northwest-based company that specialises in residential care homes
for people with learning disabilities. This deal followed shortly after Freeth Cartwright supported the firm as it secured a multi-million funding package, allowing it to continue its acquisitions.
Philip Raven concluded: “In order for deals and acquisitions like these to run as smoothly as possible, it’s vital that our clients have confidence in our specialised knowledge of the sector, together with our extensive experience in corporate finance. Our growing reputation in this sector is built on our clients particularly liking our commercial approach in providing answers, rather than just options.”
If you want to know more…
speak to us today and find out what we can do for you.
Please contact any of the following:
www.freethcartwright.co.uk
Freeth Cartwright LLP Solicitors, Cumberland Court, 80 Mount Street,
Nottingham, NG1 6HH, United Kingdom
Philip Raven, Tel: 0845 634 9781,
philip.raven@freethcartwright.co.uk
John McLauchlan, Tel: 0115 935 0604,
john.maclauchlan@freethcartwright.co.uk
Nicole Joynson, Tel: 0845 634 9784,
nicole.joynson@freethcartwright.co.uk