BGF invests £4.4m in Springfield Healthcare Group

The minority investment is composed of a £2.5m injection into Springfield Homecare and £1.9m into Seacroft Care Village. Both businesses are owned by Springfield Healthcare Group. BGF approached the group for the transaction.

Earlier this month, BGF backed ATM provider Cennox with £3m.

Company
Springfield Healthcare Group is a British care provider business, founded in 1967 in Leeds. It serves around 2,000 clients. The group has a total annual turnover of £15m.

Springfield Homecare was founded in 1998 and operates in Leeds, Wakefield, Hull, East Riding, York, North Yorkshire, and Sheffield.

Seacroft Care Village is a Leeds-based institution providing living arrangements and day care for the elderly. It is currently in development.

People
Andy Gregory, regional director for Northern England, led the investment for BGF. Graeme Lee is founder and group chairman of Springfield.

Advisers
Equity - Squire Sanders (Legal); BDO (Financial due diligence).
Company - Park Place Corporate Finance (Corporate finance); Watson Burton (Legal); Sagars (Tax).

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• Topics
• UK / Ireland
• Healthcare
• Expansion
• BGF (Business Growth Fund)
• United Kingdom