Bestport sells Oracle for 3.3x return

The acquirer of the company is undisclosed, however, Unquote understands the company will be taken over by a trade buyer. The process saw several bidders, all of which were trade buyers, participate. Oracle was put up for sale at the end of 2019. 

The deal is the latest for the Bestport LP Fund, which closed on £18m in May 2007.

Catapult was invested from its Catapult Growth Fund, which is now fully deployed and making exits.

During the investment period, Catapult and co-investor Bestport Private Equity supported Oracle's organic growth through the expansion of its residential housing portfolio, education provision and operational infrastructure to deliver a doubling of Oracle's residential and day pupil numbers, according to a statement.

Bestport backed a £6m management buyout for Oracle in January 2012. The deal was funded with £3.5m in equity and £2.5m in debt. Catapult also participated, providing both debt and equity.

Unquote understands the investors also provided a small amount of capital during the holding period to tidy up the company's balance sheet. 

Company
Headquartered in Congleton, Cheshire and Silsoe, Bedfordshire, Oracle provides packages of care, education and therapy for young people with needs who display high-risk behaviours. It was founded in 2006. It employs 50-100 people. 

Oracle Residential has 11 registered children's homes, across Bedfordshire, Cheshire and Staffordshire. Oracle Education provides a range of education packages for young people aged eight to 18 with special educational needs and disability including complex social and emotional needs such as autism, oppositional defiance disorder and pathological demand avoidance.

People
Bestport Private Equity – Ole Bettum (managing partner).

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