UK - Sovereign Capital backs £18m acquisition of London Care

Sovereign has committed a total of £25m to London Care to help fund a buy and build strategy for the company. Lloyds Banking Group acquistion finance team provided a £7.5m debt package to support the transaction.

Operating from 13 sites across the UK, including 11 offices in the South East, London Care provides over 30,000 hours of personal support per week to vulnerable people in their own homes, mainly under contract to local authorities and primary care trusts. The business was established in 1995 and employs 1,500 staff, including 1,400 care workers.

As part of the deal, Sovereign has appointed Robbie Burns as chairman and Mark Harrison as finance director of the company.

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