Fri, 09 Jan 2015 | MBO/MBI
Canterbury-based healthcare recruitment firm Nurse Plus has been sold by Key Capital Partners (KCP) as the result of a secondary management buyout that was funded by Sovereign Capital.
Private equity firm KCP invested £6.5 million in the healthcare firm in 2012, receiving a large minority shareholding in the company. This move was part of a management buyout totalling £15 million.
KCP confirmed that it had received an "attractive return" on its investment in Nurse Plus, the latter of which saw turnover double over the course of 2014 to £35.5 million. The price that Nurse Plus was sold for has not yet been disclosed.
Mike Fell, investment partner for KCP, said: “We are convinced that Nurse Plus will continue to go from strength to strength.”
The sale of Nurse Plus represented the third exit for Key Capital Partners over the last year. It also offloaded Scunthorpe-based TSC Foods and furniture firm Neville Johnson, the latter of which was sold for £22 million in a secondary management buyout that was funded by Alcuin Capital Partners.
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