Ardenton acquires Pebbles

Katharine Hidalgo
28 November 2019

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Ardenton Capital has acquired residential care and education provider Pebbles Care.

Pebbles represents the firm's sixth investment in the UK. Other UK-based investments include Budget Greeting Cards and Food Innovations Baking Group in 2019.

Operations director Alison Moore has been named managing director and is joined by Michael Walsh as CEO. The rest of the management team is comprised of Richard Graveling, head of education, James Doyle, head of commissioning, and Joy Wakenshaw as head of care.

Clydesdale Bank provided senior debt for the acquisition.

Company
Headquartered in Leeds and Dunfermline, Pebbles is a provider of residential care and education for young people. Founded in 2003, the company operates 41 residential care homes and four schools in the north of England and Scotland.

People
Ardenton Capital – Iain Marlow (director).
Pebbles Care – Luiz Guilherme (director); Alison Moore (managing director); Michael Walsh (CEO); Richard Graveling (head of education); James Doyle (head of commissioning); Joy Wakenshaw (head of care).

Advisers
Equity – Castle Square Corporate Finance, Kevan Shaw, Steve Bell, Patrick Lynch (corporate finance); Addleshaw Goddard, Andrew Green (legal); Connell Consulting, Clare Connell (commercial due diligence); KPMG, Simon Wormald, Ian Roberts (financial due diligence); PwC, Catherine Kay, Nathan Main (tax); Marsh Group (insurance due diligence).
Vendor – Orbis Partners, Shah Zaki, Steve Nock, Steph Mersh (corporate finance).
Debt – Browne Jacobson (legal).
Management – Freeths (legal).