NGBI Private Equity portfolio business Horizon Care has made a bolt-on acquisition with the help of its backer.
Midlands-based specialist care and education business Horizon Care has bought Educare Adolescent Services for an undisclosed amount.
Horizon Care provides children with severe and complex needs with specialist care and education. It has bought local company Educare Adolescent Services to bolster the number off homes and schools and has now added sites in Shropshire and Leicestershire.
NBGI Private Equity initially acquired Horizon Care back in June 2012 and has now gone on to support the bolt-on deal.
The investment firm bought the company on the premise that it would look to double its size through acquisitions and organic growth over the coming three to five years.
Speaking then, the firm revealed that acquisition targets would arise from the economic pressure which has been placed on small care providers.
The purchase of Educare also brings to Horizon a new education service for children of primary age.
Thelma Turner, who was installed as chief executive of Horizon Care back in June, says that Educare offers ‘highly complementary’ services to Horizon and has a shared ethos.
‘We look forward to working with the Educare team and growing the combined business, based on Horizon Care’s psychologically informed model of care and support,’ she adds.
Belinda Berkeley, lead for NBGI Private Equity on the deal and associate director at the firm, comments, ‘This acquisition is a significant step in Horizon Care’s strategic growth plan, with Educare providing an increased geographical presence and additional expansion opportunities.
‘We will continue to invest in the business’s future growth, both organically and through acquisition where there is a strong strategic fit and high quality of service.’