Bowmark Capital, a UK mid-market firm, has sold Advanced Childcare to GI Partners for £28 million (€32 million; $45 million).
The sale has generated a return of more than four times Bowmark’s investment, according to a company statement. UK-based Advanced Childcare provides care and education to children with behavioral and emotional disorders. Since acquiring the business in 2004, Bowmark has more than quadrupled the number of the company’s care homes.
On 15 March, Bowmark backed the management buyout and expansion financing of Glenside Manor Healthcare, a UK independent neurological rehabilitation centre.
Bowmark closed its fourth fund on £265 million in January 2008.
Founded in 1997, the firm specialises in investing in smaller UK companies, managing and advising funds totaling £700 million on behalf of public pension funds, insurance companies and banks from the UK, US and Continental Europe.