A care firm in Cardiff has been acquired Birmingham-based specialist care provider. Recovery Care, located in Cardiff Business Technology Centre in Wentloog, has been purchased by Accomplish Group for an undisclosed sum.
Founded in 2012, Recovery Care provides specialist supporting living services to people living with complex mental ill health, learning disability or substance misuse. It offers support to 70 service users across its 13 care homes.
Accomplish Group supports adults with autism, brain injuries, mental health needs and learning disabilities. The company, which was previously known as Tracscare, was bought by G-Square Capital in 2014.
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It recently merged with another G-Square Capital portfolio company, Keys Group, earlier this year. Keys Group is a provider of specialist education and care for children and young people. The combined group will now have a turnover of more than £200m.
Accomplish Group said the deal will give it a strategic position in the region in supported living and complement its other services locally.
The deal was advised on by Lexington Corporate Finance, while Capital Law provided legal advice.
This is the third business transaction that the corporate finance advisor has completed in the specialised care sector including the sale of New Bridges in Newport to Accomplish Group and Caerphilly-based Montana Healthcare to Achieve Together in Bath.
Lexington director Thomas Edwards said: "It’s been a pleasure to have acted for Andrea and Conor and the sale of their business to Accomplish. The process was very competitive which is testament to the hard work of the shareholders as they have built Recovery Care to be one of the leading providers in the region.
"Accomplish quicky emerged from the competitive process as the preferred acquirer given the strategic rationale and we look forward to seeing the businesses continue to grow in the future.”
Conor Rooney, who co-founded Recovery Care in 2012 with Andrea Williams, said: "Working with the team at Lexington has been a very positive experience. The whole team was always on hand to offer advice and reassurance throughout the whole sales process.
"They are professional and at the same time are very down to earth which made it easy to ask any questions however minor they may have been. I would have no hesitation in recommending Lexington to anyone contemplating selling their business.”
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