Wed, 22 Sep 2010 | BUSINESS SALE
Private equity firm, Bowmark Capital, has placed its business Advanced Childcare, the provider of care for teenagers with behavioural challenges, on the market for over £30 million.
Based in Stockport, the company offers education and care services to 11-18 year olds with behavioural, social and emotional difficulties. It has about 250 staff.
Set up in 1996 by chief executive Riz Khan, Advanced Childcare runs a total of 25 care homes with 96 beds in the Midlands and the North West, along with a school with 36 places and a fostering service.
KPMG has been drafted in to act as advisers for the sale. It is thought likely that trade buyers and rival private equity outfits will place bids for the firm. The deal is expected to take place early next year.
A source close to the business commented: “The business has grown strongly and has had excellent ratings for the quality of the care it provides. It’s got a fantastic reputation and a strong management team. All options are being explored with a view to a sale.”
For the year to September 2009, the firm enjoyed revenues just shy of £11 million with operating profits of about £1m. The growth has been attributed to heightened occupancy, expansion and new contracts.
London-based Bowmark invests in the healthcare, leisure, business services media and IT sectors.
This is a unique opportunity to acquire two well-established B2B companies operating across multiple sectors throughout the UK, boasting strong client relationships and secure contracted revenues poised for further expansion.
LEASEHOLD
This is a unique opportunity to acquire a prominent company in a specialist sector with a high barrier to entry, offering integration potential and a cash-generative model with repeat revenue.
This business presents an enticing opportunity with established relationships with blue-chip organisations globally, a strong client retention rate, and the potential for relocation.
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