August-backed Lifeways acquires SLC

The company was purchased from ISIS Equity Partners. KPMG provided tax advice.

SLC provides up to 24-hour supported living services to people aged 16 and over with a range of learning and physical disabilities and mental health needs. It is the second largest organisation of its kind behind Lifeways, which employs a staff of more than 4,200 people.

Before the acquisition took place, August refinanced Lifeways by securing a debt facility from Ares Private Debt Group. Additional acquisitions are in the pipeline and will be announced in the coming months.

Lifeways' CEO, Paul Marriner, cited SLC's complementary services and geographical reach as the main impetus for the acquisition. The company had been tracking SLC for a number of years and looks forward to stepping up its scale, service and quality as a result of the deal.

August completed the management buyout of Lifeways in July 2007, following a limited auction organised by BDO Stoy Hayward. HSBC provided a debt package to support the investment, which represented an exit for previous minority shareholder Nomura International. August took a majority stake in the newco alongside management.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Portfolio management
• Healthcare
• UK / Ireland
• United Kingdom
• August Equity LLP
• ISIS Equity Partners