August sells Enara for £111m

This is the first exit for August's AEP II fund, which was launched in 2008 and closed on £155m. The GP also sold healthcare services provider Lifeways to OMERS PE in June this year.

Previous funding
August Equity bought Enara in 2008 as part of a £20m primary buyout, aiming to pursue a buy-and-build strategy in the fragmented UK domiciliary care market. Four years on, the business has performed more than 50 bolt-ons and its profits have grown fifteenfold.

Enara most recently bought Angels Care Services, Training and Care Solutions Essex, Extracare and Home Comforts (South) in July.

Company
London-based Enara is an independent provider of private and social services-based homecare in London and the Home Counties. It focuses on care for the elderly and adults with learning difficulties and mental health needs.

People
Aatif Hassan and Philip Rattle worked on the deal for August Equity.

Advisers
Vendors – KPMG, Andrew Nicholson (M&A); Shoosmiths, Emma Gibson (Legal); PricewaterhouseCoopers, Chris Glazier (Financial due diligence); Hazlewoods, Andy Brookes (Financial due diligence).

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• Topics
• UK / Ireland
• Exits
• Healthcare
• United Kingdom
• August Equity LLP
• Trade sale