ISIS sells community care firm SLC
A LANCASHIRE-based community care company has changed hands after a five-year growth spurt under the ownership of ISIS Equity Partners.
Chorley-based SLC Group has been bought by London firm Lifeways Community Care for an undisclosed sum.
Turnover at SLC grew from around £7m to more than £21m after it made five strategic acquisitions under the ownership of ISIS’ Manchester office. The number of people using its services grew in the same period from 200 to nearly 1,000.
SLC provides supported living and specialist community support services for people with learning disabilities, physical disabilities as well as mental health and sensory needs – including people from within the deaf and blind communities.
ISIS invested in SLC on behalf of the ISIS III fund in December 2006 through the acquisition of Chorley based Paragon (UK) Ltd. This acted as the platform for subsequent acquisitions and also organic growth.
From its Lancashire base SLC has expanded into Merseyside. Derbyshire, Yorkshire and the Midlands.
Charles Eggleston, chief executive of SLC said: “In the last five years we have been able to build on the foundations of the original Paragon business and create a scalable, high quality supported-living business which now supports almost 1,000 users across the North and the Midlands.
“The supportive partnership that the SLC team has enjoyed with the ISIS team has been critical to that journey.”
Pete Clarke, ISIS added: “Charles and the team have worked tirelessly to create a great business with a real emphasis on the quality of support delivered to service users, their families and the local authorities.
“ISIS has used its M&A skills, funding capability and network of experienced and relevant people to support the business in growing sustainably over the last five years, and we wish the business well under Lifeways’ ownership.”
Clarke said his team of seven were now focused on finding more opportunities in the region: “We have a big fund to invest and a large team in the region so we’re really hungry for deals and are looking for growth businesses across all sectors.”
Advisers on the deal included Paul Lupton and David Jones from Deloitte
and Paul Rimmer from DLA Piper.
