Baird sells Castlecare to Priory

Alice Murray
04 December 2014

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Baird Capital has sold care provider Castlecare to Priory Group, which is owned by Advent International.

Under Baird's stewardship, the company has increased its geographical reach organically and through acquisitions. The number of sites has increased from 25 to 34 under Baird's management.

Previous funding
Baird acquired Castlecare in July 2014. According to unquote" data, Baird initially invested £9m to support Castlecare's management buyout, which had a total value of £22.4m. The deal saw Baird acquiring a 70% stake in the business. The transaction was supported with an £8m senior debt package supplied by Barclays.

In January 2005, Baird invested £1m to support Castlecare's acquisition of Quantum Care, according to unquote" data. In September of the same year, Baird invested a further £1.275m to facilitate Castlecare's acquisition of Sovereign Care.

Company
Castlecare is a provider of care and education for young people with emotional and behavioural difficulties. The company now operates 34 children's homes and five specialist schools.

The group was established in 1989.

People
Dennis Hall is managing director of Baird.