Residential care firm snapped up by national player in seven-figure deal
A Derbyshire provider of residential care for adults with learning disabilities, mental health needs and associated complex requirements, has been sold to one of the biggest UK firms operating in the sector.
Chesterfield-based Heathcotes Group, which runs 72 specialist adult healthcare properties, has been snapped up by Envivo Group.
Paul Hainsworth, chief executive at Envivo Group, said: “The acquisition of Heathcotes is an exciting next step for Envivo Group. It is a well-respected, high-quality care provider.
“We are looking forward to working with the Heathcotes management team to further enhance the quality and breadth of their operations as part of the wider Envivo Group family.”
Shawbrook Bank supported the acquisition of Heathcotes by providing Envivo Group with a commercial loan facility.
Claire Perman, associate director of Shawbrook’s Healthcare Finance team, said: “With an estimated 1.5 million people with learning disabilities in the UK, including over 800,000 adults, demand for best-in-class mental health care and learning disability facilities has never been higher. This is largely driven by the increasingly complex care needs and challenging behaviours exhibited by young adults ageing into adult services and stepping down from hospitals.
“The adult care industry in the UK – like much of the UK’s healthcare landscape – remains underfunded. By supporting ventures such as Envivo Group’s latest acquisition we are supporting the industry at a crucial time.
“This is an excellent opportunity to strengthen our partnership with a strong Group with an outstanding reputation in the specialist care industry. From enquiry to completion in just 15 business days is unprecedented and we believe this acquisition will complement the wider Group’s existing business by providing outstanding care and increasing geographical spread.”
She added: “A huge thank you to Addleshaw Goddard, our trusted legal advisor, on the transaction as the excellent work completed by them ensured the tight completion deadline was met.”
Dasos Kirtsides, head of healthcare dinance at Shawbrook Bank, said: “Envivo Group is an outstanding business with a top-class management team and we are delighted to have backed them in this acquisition, which is within a specialist sector that we are keen to continue supporting.
“Claire did a fantastic job of pulling out all the stops to get this deal completed on time, which not only benefits the Envivo Group but the wider mental health and adult care sector also.”