August Equity has purchased Beech Care and Nursing Agency, a domiciliary care agency based in the UK, as part of a buy-and-build strategy for portfolio company Enara Group.
Healthcare companies Enara Group and First Call Care services were acquired simultaneously in November 2008, with an additional investment of £20 million for investment in add-on companies. The full terms of the transactions were not disclosed.
“We have a strong pipeline of further deals, which we hope to complete in the near future,” Aatif Hassan, investment director at August, said in a statement.
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. It had made eight add-on acquisitions to the company, having initially purchased it in 2005 for £37 million.
Other August Equity portfolio companies include: UK television production company, Hat Trick Productions; media company, Imagine Publishing; and media technology firm, Boat International.
August Equity invests between £10 million and £50 million into UK-based companies within healthcare, technology, media, industry and consumer products. The firm currently has £285 million under management.