Spring Ventures backs Creative Care MBO

Thelma Turner, who has her own specialist care business Thelma Turner Homes, acquired the business from founder Richard Wass.

Mike Quinn of Baker Tilly introduced the deal. The fresh funding will be used to develop new facilities.

Debt funding
Santander provided debt facilities for the MBO.

Company
Founded in 2004 and based in Nottinghamshire, Creative Care provides long-term residential care for people with autistic spectrum disorders. The company operates out of five residential care homes, which cater to 35 people.

People
Richard Wass is the founder of Creative Care. John Hudson and Alex Brebbia from Spring Ventures joined the Creative Care board.

Advisers
Equity – Coombes Corporate Finance (Corporate finance); Connell Consulting (Commercial due diligence); Hazlewoods (Tax); Shoosmiths (Legal).
Vendors – Baker Tilly, Mike Quinn (Corporate finance).

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• Topics
• UK / Ireland
• Buyouts
• Healthcare
• United Kingdom