UK lower mid-market buy-and-build firm Sovereign Capital has acquired Paediatric Nursing Link for £2.2 million (€3.2 million, $4.3 million) through a portfolio company Complete Personal Assistance.
Paediatric Nursing Link was founded in 1999 to provide child care staff for hospitals. The business now provides full service child care for 11 out of the 33 primary care trusts in London.
Its staff will bolster the services offered by Complete such as spinal recovery and ventilation support.
Sarah Persey of Sovereign Capital said the decision to purchase Paediatric Nursing Link had been taken in conjunction with the Complete management. Sovereign’s investment strategies typically last from 4 to 8 years and health care will remain a prominent sector in the Sovereign deal pipeline.
Former dinner lady and social worker Barbara Scandrett started up Complete in 1995.
Sovereign bought Complete in 2003 for £5.7 million. Complete has a turnover of £28 million.
Bank of Ireland is providing debt for the transaction.