August Equity has continued its healthcare buy-and-build strategy for platform company, Enara Group, with the acquisition of two UK home care providers, Companions Care and Freshford Homecare.
The acquisitions are the third and fourth add-ons for Enara, following the purchase of Beech Care and Nursing Agency last week.
Enara and its first add-on, First Call Care Services, were acquired simultaneously in November 2008, and as part of the original acquisition strategy August allocated £20 million for further buyouts.
“We are delighted with the rapid development of the buy-and-build…and we are constantly looking for new acquisitions that will enhance Enara’s portfolio,” Aatif Hassan, investment director at August, said in a statement.
UK-based August has £285 million under management, and typically invests between £10 million and £50 million into healthcare, media and technology and consumer products and services.