Loughborough-based Compass Services for Children Group (Compass) has been added to August Equity’s portfolio by way of an £18 million transaction.
Compass is a fostering group which has some 500 placements with 350 families. Its management team is led by chairman Christa Echtle and CEO Bernie Gibson.
Echtle comments, ‘Together with August Equity we aim to create the highest-quality and most distinctive fostering and children’s services business with a national footprint.
‘The backing provided ensures we have the resources to enhance our service offering and continually provide successful outcomes for the children in our care.’
August Equity’s last transaction came back in October 2012 when it sold its interest in domiciliary care providers Enara to FTSE 250-listed MITIE for £111 million.
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- August Equity disposes of Planit
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August Equity partner, Aatif Hassan, says, ‘We are delighted to be backing the team at Compass to fulfil the growth plans of the business.
‘The team has a wealth of experience in the sector and has a strong track record within private equity backed businesses. The group has a reputation for its high standard of care, successful children outcomes and flexibility in meeting the ever changing needs of Local Authorities in a cost effective way.’