UK mid-market private equity firm August Equity has launched a buy-and-build play in the UK home care market with two acquisitions in the sector.
Platform company Enara is a West London-based provider of private and social services-based home care for the elderly and adults with special needs. Enara, acquired for an undisclosed amount, operates in the London and Home counties.
In concert with the acquisition of Enara, August purchased complex care provider First Call as an add-on for an undisclosed amount. Essex-based First Call provides home care for children and adults with injuries to the spine and brain.
Enara has a “strong pipeline” of additional acquisitions, August said in a statement, for which the private equity firm has contributed an additional £20 million (€24.7 million; $31.5 million).
August exited a buy-and-build play in the residential care home sector in April 2008, selling UK-based Healthcare Homes to Bowmark Capital for £75 million.
August originally bought the company in August 2005 for £37 million and then made eight add-on acquisitions.
August typically invests between £10 million and £50 million of equity in UK-based companies in the healthcare, media and technology, industrial products and services and consumer products and services sectors. The firm has £285 million in capital under management.