Rutland reaps 2.6x on Advantage Healthcare sale

The deal was completed in December 2012. Rutland acquired the company for an overall consideration of £10.5m in March 2005. The transaction was financed with a £5m debt package from Lloyds, including a term loan and invoice discounting facilities. Rutland committed £5.5m in equity as part of the deal. The company was then trading as BUPA Healthcare Professionals.

Over the course of 2012, Rutland divested three other portfolio companies – NoteMachine, Pule Home Products and Attends Healthcare – returning an overall £190m to its investors.

Company
Advantage Healthcare is a British provider of home healthcare services to both public and private organisations and individuals. It operates a network of 27 outlets across the UK. 

In 2012, the company's sales amounted to £41m, with an EBITDA of around £3m.

People
Rutland managing director Nick Morrill and partner Oliver Jones led the deal on behalf of the seller. Phil Burrows is the managing director of Advantage Healthcare and Adrian Ringrose is CEO of Interserve.

Advisers
Company – Walker Morris (Legal).
Vendor – PwC (M&A); Eversheds (Legal). 

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

• Topics
• UK / Ireland
• Healthcare
• Exits
• Rutland Partners
• United Kingdom
• PricewaterhouseCoopers
• Eversheds
• Trade sale