Sovereign's Christchurch Group makes acquisition

Carmen Reichman
29 August 2012

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Sovereign Capital portfolio company Christchurch Group has acquired Woodlands Respite Care Centre from the MS Society.

The deal was financed largely by existing equity commitments from the GP and additional debt.

The acquisition has provided Christchurch Group with a base in northern England and has expanded its service offering. The Woodlands site continues to provide respite care for patients with multiple sclerosis as well as offering a full-service neuro-rehabilitation centre providing long-term care.

The acquisition follows the group's opening of a facility in Bedford and the development of transitional living facilities in Northampton. Sovereign bought Christchurch Court in September 2010 in a deal thought to be worth €30m, including debt from Santander. Christchurch is looking to make further acquisitions to develop its service offering.

Company
York-based Woodlands was purpose built for the MS Society in 1991. The business provides short-stay respite care for people with multiple sclerosis over the age of 18, and also operates a neuro-rehabilitation centre. It employs more than 70 staff.

People
Dominic Dalli is a partner at Sovereign.