The investment is the first to be made through the Southampton-based firm’s fund Altitude One, which exceeded its first close target during April this year.
Simon White, partner and co-founder of Altitude Partners, says, ‘The Care Division has been growing well over the last couple of years and we see it having good growth over the next few years, so it’s exactly the type of business we like to help.’
He told GrowthBusiness that the company sits in a ‘robust market’, where there is a move from institutionalised care to ‘care in the community’.
The funding will allow the company to restructure its shareholder base and to invest in building a new IT platform for monitoring and compliance purposes.
The Care Division’s focus is on the provision of a supported living service for adults with learning disabilities. The business offers one-to-one support to individuals, or through large organisations such as the Hampshire and Wessex Autistic Societies, local authorities and NHS Trusts.
The Altitude Fund remains open for investment for a further four months. Investors coming into the fund prior to its final close will participate in the investment in The Care Division and subsequent funding.
Altitude Partners typically provides capital investment and strategic support to established businesses in Southern England that have ‘a clear strategy for the next three to four years’.