News » UK
18. März 2011     Print Print 

GI Partners acquires 30 residential care homes

GI Partners has announced the £28 million acquisition of Advanced Childcare. Based in Stockport, Greater Manchester, and employing over 350 people, ACL is a leading provider of outsourced children’s care and education services in the U.K. ACL has a market-leading record of excellence with 25 separate awards for ‘Outstanding Provider’ from the Office for Standards in Education (“Ofsted”), the U.K. Government body responsible for regulating and inspecting facilities that provide education and care for children. ACL currently operates 30 residential care homes and a fostering service and has been awarded six regional contracts from local authorities in Manchester, Oldham, Birmingham, Wolverhampton, Bradford and Blackpool.

ACL is the latest addition to GI’s growing portfolio of specialist care and education companies. GI intends to use ACL as a platform to create a multi-regional, industry-leading childcare services business leveraging its significant experience in the healthcare industry to date. GI already owns The Cambian Group, which it has built up through proactive management and selective acquisitions to become the U.K.’s largest provider of specialist services in education, mental health rehabilitation and learning disabilities. Cambian provides services for over 1,100 individuals in 60 facilities, works with 140 public authorities and employs more than 3,500 people. GI has similar growth aspirations for ACL and expects to invest additional capital through the platform.

The transaction was funded by capital from GI Partners Fund III L.P. and was supported by a conservative amount of debt financing provided by Yorkshire Bank, the sister bank of Clydesdale Bank plc, through a combination of term facilities and funding for future capital expenditures.