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!
An established, highly profitable and well-respected home care agency which has been trading and growing successfully since 2020, when it was established by the current owners.
This well established residential facility has been operating since 2008, and has been working tirelessly since then to develop a flexible home care service, with their customers at the heart of it. They assist their clients in their own homes, provi...
The company offers specialist care and residential accommodation for children aged between four and 18 years with learning difficulties, and complex emotional and behavioural problems. Priding itself on its highly trained staff and exceptional reputa...
Interflex Limited, a manufacturer of automotive parts in Not...
Fox Industrial Services Limited, a construction firm based i...
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
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.