Apposite Capital buys Swanton Care & Community

Financial details surrounding the transaction remain undisclosed. However, the new shareholder is willing to support the company's expansion both organically and through strategic acquisitions, according to a statement.

An undisclosed term loan was provided to complete the acquisition, according to a source close to the matter.

The deal is the GP's third investment this year, following a €7m injection into Spanish genetic diagnostics laboratory NIMGenetics in May and the acquisition of the social care divisions of UK-based services provider Mitie for a cash consideration of £2, in March. Furthermore, this is the fourth transaction for Apposite Healthcare Fund II, which launched in September 2015 with a £125m target and held a first close on £70m in May 2016.

Company
Founded in 2006, Swanton provides residential and supported living care for adults with complex learning disabilities, mental health disorders and acquired brain injuries. The company is based in Birmingham and manages 24 care homes across the UK.

The business employs 780 people and generated £25m in revenues in 2016.

People
Apposite Capital – David Porter (managing partner); Sam Gray (partner).

Advisers
Equity - Trowers & Hamlins (legal); Hazelwoods (financial due diligence, commercial due diligence, tax).

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• Topics
• Buyouts
• Healthcare
• UK / Ireland
• Apposite Capital
• United Kingdom