The Chandos Fund, North West Business Investment Scheme and both of the British Smaller Companies VCTs all invested in the £6 million deal.

The buy-in team is headed by MD Chris Birkett and operations director Annie Lea, along with David Johnson as executive chairman. RSM Bentley Jennison Corporate Finance acted as lead advisors on the deal, with bank funding provided by The Co-operative Bank.

Able Care provides home-based care to elderly and disabled people, and was established ten years ago by Irene Mayers, who is retiring following the sale. It has more than 300 care staff and is based in north-west England.

YFM manages over £295 million for institutional and private clients, specialising in investments with equity up to £8 million. In the year to November, the firm invested £42.7 million in deals worth around £212 million.

The Chandos Fund’s investment team is led by Paul Cannings, a former employee of private equity group 3i. The fund aims to raise £40 million and finances buy-ins, buy-outs and expansion.

The North West Business Investment Scheme is backed by the European Union and the Northwest Regional Development Agency.