Waterland acquires Sandcastle Care

Details of the transaction remain undisclosed, though Waterland is currently investing from its seventh fund, which closed on €2bn in 2017. The deal is Waterland's third UK platform investment since opening its UK office in Manchester in 2017.

The existing management team will remain in position under the company's new owners. The company is currently in the process of opening two new homes, according to its website.

Debt
Barclays provided a debt package to support the transaction.

Company
Founded in 2004, Blackpool-headquartered Sandcastle Care provides long-term residential care to children from vulnerable backgrounds. The business operates across 18 homes across the north-west of England and employs a therapeutic approach with children that face emotional and social difficulties.

People
Waterland Private Equity – Andy Scaife (managing director); Ryan Hallworth (senior investment manager); Robin Elley (investment analyst).
Sandcastle Care – Darren Yates (CEO).

Advisers
Equity – Clearwater International (corporate finance); Addleshaw Goddard (legal); Deloitte (financial due diligence); PwC (tax); Candesic (commercial due diligence); GK Strategy (political due diligence).
Company – CLB Coopers (corporate finance, tax); Shoosmiths (legal).

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• Topics
• Buyouts
• UK / Ireland
• Healthcare
• United Kingdom
• Waterland Private Equity