Apposite scores 3.5x on By the Bridge sale

The deal generated a 3.5x return for Apposite, which acquired the company in 2006. The number of children By the Bridge looks after has since grown five-fold, while revenues have increased by 4.5x to around £25m. Apposite also supported the opening of five new offices, as well as a bolt-on acquisition.

Company
By the Bridge provides foster care services for children with challenging needs. It currently supports 516 children and 346 foster families. 

The company places children into specialist foster care, providing a specialised service due to its emphasis on selecting and training foster parents.

In 2014, By the Bridge generated revenues of £25m and adjusted EBITDA of £5.2m.

People
Steve Adkin is a partner at Apposite and sat on By the Bridge's board. David Porter is managing partner at Apposite. Nicola Tunbridge is managing director of By the Bridge.

Advisers
Vendor – DC Advisory, David Sanders (Corporate finance); Pinsent Mason (Legal).

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• Apposite Capital