Deal is perfect match for healthcare services provider
THE sale of health care services provider CM Community Services to rival SevaCare has been completed for an undisclosed sum.
Huddersfield-based CM Community Services is a regional provider of domicilary, community healthcare and specialist services offering services within a 15-mile radius of Batley.
The company, which trades as SureCare West Yorkshire, was founded by medical professionals Christine and Malcolm Hall who have grown the business since Mrs Hall bought a franchise licence from SureCare Community Services.
Mr Hall joined the team in 2002 – the same year that the company became an accredited supplier to Kirklees Metropolitan Council.
The business was incorporated in 2006 and up to the sale employed 78 staff and generated pre-tax profits of £140,000 on a turnover of £1.1m.
The sale will enable its owners to retire.
Corporate finance boutique BCMS Corporate, which handled the sale, said it had identified 284 potential acquirers for the business, which resulted in seven offers being made prior to a deal being struck with Midlands-based SevaCare.
The sale is expected to expand SevaCare’s coverage, provide access to a local authority and present potential growth opportunities within the UK market, which is estimated to be worth around £2.8bn.
Mrs Hall said: “SevaCare stood out for us as the company is a good cultural fit. We are very quality driven and both have a similar passion, which I think is just as important as the enterprise value.”
IIan Elfassy, BCMS corporate deal leader who managed the sale, said: “We managed the complete sale despite tough economic conditions.
“The clients were passionate about their business and the reputationa they had built up within the care sector. The ethos and the company values of the potential acquirer were just as important to the clients as the overall deal value.”
