Thu, 29 Apr 2021 | BUSINESS SALE
Envivo Group has completed the acquisition of Cardiff-based specialist nursing care firm Crusader Medical Care. Cheltenham-based Envivo, which was founded to acquire and grow care homes in the UK, was supported in the deal by leading healthcare real estate investor Civitas Investment Management.
Crusader operates two care homes, employing over 100 staff members. The company specialises in providing for acute, complex care requirements and in care for challenging behaviours, such as mental illnesses or acquired brain injuries.
The family-owned business was founded more than twenty years ago and the acquisition will see existing shareholders exit the business. In its most recent accounts, to the year ending March 31 2020, Crusader reported turnover of £5.5 million and post-tax profits of £1.4 million.
Following the acquisition, Vincent Ashley, Founder and Director of Crusader, commented: “Our business has developed a strong reputation for care quality and its commitment to our residents and staff. It was important that a suitable acquirer was found that would continue to operate the business in this manner and I believe that Envivo fits the criteria perfectly.”
Envivo Executive Chairman Paul Mariner added: “We are delighted to have partnered with Civitas to acquire Crusader Medical Care. Crusader is a well-respected, high quality care provider that will be supported by Fieldbay, led by Paula Lewis, which has homes across South Wales.”
“We are looking forward to working with the Crusader management team to invest in systems and infrastructure to further enhance their quality, and to achieve excellent outcomes for the people the group supports, as part of the wider Envivo family.”
Grant Thornton provided tax advisory services on the transaction, with the firm’s Cardiff Corporate Finance team also advising the shareholders, alongside Capital Law.
Jamie Roberts, Corporate Finance Director at Grant Thornton, commented: “Crusader is an outstanding business and we are delighted to have completed this deal which has provided a successful exit for the shareholders.”
Read more about how the UK's care home sector is ripe for consolidation.
Find businesses for sale here.
If you are looking for an exit, we can help!
Early expressions of interest are invited for the sale of a portfolio of purpose built residential care homes conveniently clustered in the Midlands. Overall occupancy is at c. 84% and increasing, with strong levels of private paying clients
LEASEHOLD
Well established pharmacy. Ground floor approximately 125 sq. meters. Suspended ceiling with concealed lighting. Retail counter, electronic cash register, display stands. At present staff operated.
LEASEHOLD
This practice is located in a coastal town in Dorset, the residents of which have a good level of disposable income and is perfect for private dentistry. Potential to introduce specialist treatments. Located in a coastal town. Desirable area for priv...
LEASEHOLD
|
16
|
|
May
|
Manx Financial Group to acquire Payment Assist in potential £9m deal | BUSINESS SALE
Manx Financial Group Plc has announced the acquisition of Pa...
|
13
|
|
May
|
Assets set to be sold as modular housing joint venture enters administration | ADMINISTRATION
The US House Group modular housing joint venture has fallen ...
|
12
|
|
May
|
Bathroom panel firm acquired for up to 9.1x EBITDA | BUSINESS SALE
Bathroom and kitchen products firm Norcros has agreed a deal...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources