Springfield Homecare tops £13m turnover after BGF backs PLC deal
YORKSHIRE-BASED Springfield Homecare Services has completed the acquisition of North East business Positive Life Choices with backing from the Business Growth Fund.
The deal sees Springfield Homecare add the Newcastle upon Tyne-based Positive Life Choices (PLC), a domiciliary care business, to its operation, which is already one of the largest independent providers of domiciliary care in Yorkshire with turnover of £13m and 800 staff.
It will add around 2,000 hours of care to Springfield Homecare, which gives the business a new presence in the North East and strong relationships with a number of new local authorities.
Springfield Homecare financed the acquisition following two investments totalling £4.4m made in June 2012 by the Business Growth Fund (BGF), established to help Britain’s growing smaller and medium sized businesses and backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS, and Standard Chartered.
PLC represents the first acquisition that Springfield has made using BGF capital.
Of the £4.4m invested by BGF, £1.47m has already been used to fund the development on The Grange Care Village in Seacroft, Leeds which is expected to be completed in the autumn of 2013.
Graeme Lee, founder and chief executive of Springfield Healthcare commented: “I am delighted to announce our acquisition of Positive Life Choices. This marks the start of an exciting period of growth into the North East for Springfield Home Care, alongside its existing progress within Yorkshire and Humberside.”
PLC specialises in the provision of care services to individuals with learning disabilities and older people and currently covers Newcastle, Gateshead and Darlington.
The company was founded in 2007 by husband and wife team Ian and Amanda Dickinson and has grown steadily, employing 90 staff with a turnover of approximately £1m a year. Following the acquisition, Mrs Dickinson will continue to play an active part in the company she founded by taking on the role of general manager.
Seacroft Grange Care Village will consist of 79 care units and 17 independent apartments situated right in the heart of the Seacroft community, overlooking the Village Green. A whole range of holistic care options will be offered, from aspirational day care, dementia, nursing and end of life care. The centre piece will be the restoration of Seacroft Grange, a 400 year old listed building which will form the central hub of the care village.
