Pinsent Masons advises on management buyout
LAW firm Pinsent Masons has advised private equity firm Sovereign Capital Partners on the management buy-out of Eden Supported Housing Ltd, one of the largest, independent Supported Living businesses in the UK.
The Pinsent Masons team advising Sovereign was jointly led by Gregg Davison and Ed Stead, assisted by Andy Phillips and Laura Coulter (corporate), Matt Rowlands (property) Pippa Whitmore (banking) and Jon Robinson (tax).
Mr Stead said: “We are delighted to have been able to call upon our healthcare sector expertise in advising Sovereign on this transaction, which represents the second transaction we have advised them on in the last six months. We wish Sovereign and management every success as they seek to develop Eden’s already strong position in the Supported Living sector.”
Based in Newark, Eden operates from six offices across Nottinghamshire and South Yorkshire and its 560 staff provide long-term care and support for more than 250 adults with a learning disability living in the community.
Eden, established in 1994, provides approximately 1,000 hours of domiciliary care per week. The business’s innovative, Eden Enhanced service offers tailored support and care packages for people with a learning disability and additional complex needs/challenging behaviours and/or mental health support needs.
Birmingham based Clearwater Corporate Finance advised Sovereign Capital on the deal.
Sovereign has been actively investing in the healthcare services sector since 2002, specialising in acute care provision. Its current portfolio includes Cascade Care, which provides residential care for adults with mental health needs, and Select Living Options, which supplies supported living for adults with learning disabilities and mental health needs.
