Olswang takes care

Firm completes another deal in care home sector

Building on the Firm's considerable experience in the care home sector, Olswang has completed the sale of Care Aspirations, a privately-owned family business, to US private equity house, GI Partners, for an undisclosed sum.

Care Aspirations is one of the leading providers in Britain of specialist care services for adults with severe learning disabilities. The Company currently operates 11 wholly-owned facilities throughout the South East of England, with a total of 102 beds, and is developing a further four facilities.

Acting for the founding shareholders of Care Aspirations, the Olswang team worked with the healthcare team at Deloitte Corporate Finance to complete the transaction, which will allow GI Partners to build on the respected brand and operational excellence of Care Aspirations.

Olswang's experience in the healthcare sector has been steadily expanding over the past three years. The Firm has advised the shareholders of Medscreen Holdings Ltd, Europe’s leading dedicated provider of drug and alcohol testing services, on the Company's £30 million sale to Concateno plc; Graphite Capital on its backing of a highly experienced care home management team, Avery Healthcare, and the subsequent sale of Avery Healthcare to Southern Cross, as well as on its equity investment in new company, Optimum Healthcare. Previously the Firm advised on the auction sale of Ridgmont Care Homes to Ashbourne Healthcare in a transaction which valued the care home group at £88 million, as well as Nations Healthcare, Inc. on its sale to the UK's largest healthcare partnership, Centres for Clinical Excellence.

Corporate Partner Stephen Rosen and Corporate Associate Tom Crease led the Olswang team, which included Corporate Partner Andrew Peddie, Real Estate Associate Claire Coburn, Employment Partner Melanie Lane, Tax Partner Stephen Hignett and Legal Advisor in the Tax Group, Matthew Wentworth.

Trowers & Hamlins acted for GI Partners.