Agilitas sells Exemplar to Ares Management

Alessia Argentieri
09 November 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

Agilitas has sold residential nursing care provider Exemplar Health Care to Ares Management.

Agilitas backed the buyout of Exemplar in July 2016. The total financing package for the deal, including potential follow-on funding, was in the region of £150m. Rothschild Five Arrows Credit Solutions and RBS provided a debt package to support the transaction.

The deal was made via Agilitas 2015 Private Equity Fund, which focuses on companies with enterprise values of €50-300m, operating across various sectors with a special focus on environmental services and technologies, as well as TMT, healthcare and aerospace.

Under Agilitas's ownership, Exemplar expanded its capacity with the launch of new homes and "step-in and step-out" facilities, and increased its staff to 3,000 people. The company introduced new operating protocols and key performance indicators focused on the quality of care, and improved its staff recruitment and development process with the launch of the MyExemplar smartphone app for staff to share ideas and insights.

This exit follows Agilitas's sale of Recover Nordic, a Norway-based property remediation specialist, sold to EQT Partners.

Agilitas recently acquired TenCate Advanced Armor, a manufacturer of soldier armours and vehicle protection systems, from Royal TenCate, a textile manufacturer backed by Gilde Buy Out Partners and Parcom Capital.

Company
Established in 2003 and headquartered in Rotherham, Exemplar provides residential nursing care to patients with physical and mental disabilities (including neurodisabilities caused by brain injury, spinal injury and stroke, complex dementia and autism), as well as those with learning disabilities.

The group operates 32 nursing homes located across Yorkshire, the Humberside, the Midlands, and the north-east and north-west of England.

People
Agilitas – Martin Calderbank (managing partner); Liam Goddard.
Exemplar Health Care – John Whitehead (CEO).

Advisers
Vendor – Macquarie Capital (corporate finance); Pinsent Masons (legal); PwC (financial due diligence); Connell Consulting (commercial due diligence); Grant Thornton (corporate finance); Ashurst (legal); EY (tax); Deloitte (tax).