Montreaux Healthcare Fund acquires North West services provider
The Manchester office of Mazars, the international accountancy and advisory firm, has advised the shareholders of Chester Healthcare Limited – also known as “Jane Lewis” – on the sale of the business to The Montreux Healthcare Fund, which is advised by Montreux Capital Management (UK).
Established in 1987, Jane Lewis is a specialist healthcare provider supplying quality nurse staffing services to the NHS and private healthcare operators.
The business operates across the North West and North Wales delivering bespoke, person-centred complex home care packages via a team of specialist healthcare professionals.
The acquisition, for an undisclosed sum, sees Jane Lewis join the fund’s neurological care platform, Active Assistance.
The bolt-on adds £1m in EBITDA and enables Active Assistance to expand its offering and enter new geographies.
Becky Garnett-Buchma, managing director of Jane Lewis, will continue to lead the business following the acquisition.
Montreux acquired Active Assistance from August Equity in January 2018.
Oliver Harris, Montreux Capital Management (UK) chief executive, said: “The purchase of Chester Healthcare Limited is a good strategic acquisition for Active Assistance as it will allow the business to have access to a flexible staffing pool at much lower cost than most of its competitors.
“We feel that the acquisition will help with the staffing headwinds which might occur post-Brexit and that, more importantly, the integration of this business will increase Active Assistance’s appeal upon exit.”
Becky Garnett-Buchma said: “This deal will allow Jane Lewis to undertake its ambitious growth strategy with the support of the wider Active Assistance Group.
“Our advisors, David Hilton and James Rosthorn from Mazars, were integral to ensuring a successful process from start to finish which allowed the shareholders to achieve their objectives.”
David Hilton and James Rosthorn provided corporate finance advice to the shareholders of Jane Lewis, with legal advice provided by Anton Stirrett and Holly Bartlett from Bermans.
David Hilton, partner, Mazars Deal Advisory, said: “Jane Lewis has a fantastic management team and the deal with Montreux will allow the business to implement its ambitious expansion plan.
“We continue to see significant activity levels in the healthcare sector from both trade acquirers and private equity firms, which reflects opportunities for mid-market business owners.”
Crowe Clark Whitehill and Gowling WLG advised Montreux Capital Management.
