Limerstone buys Patricia Whites and Country Cousins for £14m

The companies are said to have generated revenues of almost £4m, according to press reports.

The vendor of the companies is Saga, which divested the business to reduce leverage and dispose of non-core assets, according to a statement. The proceeds of the sales are expected to reduce short-term bank debt.

Grant Thornton was engaged to explore an auction process for the assets in December 2019.

The GP is currently investing from Limerston Capital Partners I, which closed on £200m in August 2017. The fund makes majority investments in UK companies with EBITDA of £5-15m.

Company
Founded in 1959 and based in Surrey, Country Cousins is a live-in care introductory agency, providing professional home care services for the elderly.

Founded in 1989 and based in Salfords, Patricia Whites is a home care agency offering live-in care services across the UK.

Advisers
Vendor – Grant Thornton (corporate finance).

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