Private equity firm Sovereign Capital has backed the management buy-out of Eden Supported Housing.

Private equity firm Sovereign Capital has backed the management buy-out of Eden Supported Housing.

The Nottingham office of Midlands law firm Browne Jacobson advised on the deal, which was for an undisclosed sum.
Nottinghamshire-based Eden was founded in 1994 and provides living support services for adults with learning difficulties. The company has six offices and 560 staff across Nottinghamshire, Lincolnshire and South Yorkshire.

Oliver Pritchard, corporate partner at Browne Jacobson who advised the management team, comments: ‘The healthcare sector, particularly domiciliary care and supported living, has been an active area for private equity houses for the last 12 months.’

Sovereign Capital announced that it is also in discussions with a number of Supported Living businesses across the UK to expand Eden’s geographic reach through acquisitions.

The new management team will be led by managing director Paul Adcock and property director Mick Nichol Smith, and will be joined by finance director Michael Bryant.

Adcock says: ‘The number of service users in Supported Living has increased by 35 per cent over the past three years, driven by the trend to encourage people to live as independently as possible with support and care packages tailored to their particular needs.’