Healthcare group targets Northern growth
Blue Ribbon Healthcare Group, a provider of residential and supported living services for adults with autism and learning disabilities, has received significant investment from London-based investment firm Queens Park Equity.
The deal which was advised on by Castle Square Corporate Finance and Squire Patton Boggs provides Blue Ribbon with the resources to create additional services across the North of England, to help ensure individuals autism and learning difficulties, who may display challenging behaviour or have complex needs, to receive the right level of support in a bespoke environment suitable to meet the needs of the individual.
The company currently operates from nine high-quality bespoke residential properties and supported living services located across the North West having been formed in 2016 but following the funding plans to expand across the North.
Mark Fuller chief executive at Blue Ribbon said the business was excited to have secured the investment.
He added: “Many of the individuals we support come to us from institutional environments and need the bespoke services that we develop. Our partnership with QPE means we can focus on continuing to increase the number of individuals we care for, secure in the knowledge that we have a committed, supportive, and experienced investment partner.”
With prior experience in the specialist care sector, Jonny Kay, Alison Price and Sami Igout from Queen’s Park Equity, led on the transaction on behalf of the investor.
Blue Ribbon is the sixth platform investment from Queen’s Park Equity Fund I, which was oversubscribed and closed at its hard cap of £202m in December 2020.
Price, said: “Blue Ribbon stood out to us because of its uncompromising focus on quality, its innovative approach to partnering with commissioners and its expertise in looking after service users with high acuity Autism and Learning Difficulties.”
Led by Director Patrick Lynch and supported by Brad Green, Castle Square Corporate Finance, acting for the Blue Ribbon management team and shareholders, ran a competitive process. After receiving multiple offers, QPE emerged as preferred investment partner to support the the company’s next stage of growth.
Lynch said: “Blue Ribbon has grown into a market-leading care provider dedicated to supporting vulnerable adults with complex needs. We are delighted to have worked with the Management Team and to play a part in assisting the business through its next phase of expansion. The investment from QPE allows the Management Team to develop new services in much needed areas of the UK, where demand for these services have been vastly under served for far too long. With the support from QPE, I am sure Blue Ribbon will continue and be a huge success”.
The Leeds office of international law firm Squire Patton Boggs, led by private equity head Paul Mann and supported by senior associates Louisa Hine and Hannah Crosland and associates Harry Hobson, Emily Downie and Sarah Hardman, provided legal services and advice to the Blue Ribbon management team.
Mann said: “We are pleased to have supported the Blue Ribbon management team on a transaction that will enable the business to grow and develop at a time when its services are not only highly sought after, but also of vital importance to the communities it serves.”
The QPE investment was accompanied with banking facilities provided by Santander.
Other advisers acting on the transaction included: the London offices of CMS and Grant Thornton.
