August sells Active Assistance to Montreux Capital

Under the vendor's eight-year holding period the company undertook an acquisitive growth strategy and expanded into the case management market. It recently appointed former Nuffield Health deputy CEO Kevan Peter Doyle as CEO in September 2017.

Active Assistance will look to further consolidate the UK specialist care market under the Montreux's stewardship. The acquirer drew capital from Montreux Healthcare Fund to make the acquisition.

Active Assistance's current management team will remain in place following the transaction, which took place via a competitive auction process.

Previous funding
Active Assistance first received private equity backing in June 2018, when Livingbridge invested £2.8m in the company with capital drawn from its Baronsmead VCTs.

August Equity then invested £2.8m in the company in March 2010, before providing follow-on funding to support the acquisition of Communicare in April 2012, according to Unquote Data.

Company
Founded in 1992 and headquartered in Sevenoaks, Kent, Active Assistance provides care and support for patients with conditions including acquired brain injury, spinal cord injury and other neurological disorders.

The business generates a turnover of £60m, according to a statement, while publicly available documents reveal the company generated an operating profit before amortisation of goodwill and exceptional costs of £9.2m on a turnover of £47m in the year ending in March 2017.

People
August Equity – Phillip Rattle (managing partner).
Montreux Capital Management – Oliver Harris (CEO).
Active Assistance – Kevan Peter Doyle (CEO).

Advisers
Vendor – DC Advisory (corporate finance).

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• Topics
• Buyouts
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• UK / Ireland
• Healthcare
• United Kingdom
• August Equity LLP
• Secondary buyout
• DC Advisory Partners