Private equity firm Metric Capital Partners has closed its third deal in six months by backing the management buy-out (MBO) of Kedleston UK.

London-based Kedleston provides care, education and support services for children with emotional, behavioural and learning disabilities.

In its current state it has nine schools located throughout the UK and cares for children aged 7-18.

The deal has been financed through a credit instrument with equity participation and achieves an exit for Lydian Capital, the backer of the business’ previous management buy-out.

Metric Capital Partners was launched in May 2011 by John Sinik, former managing director at TowerBrook Capital Partners, alongside Peter Cornell, previously managing director at Terra Firma, and John Connolly, former global chairman of Deloitte.

The firm raised €100m (£80 million) of its €300m target within eight months, the point at which a firm can begin investing, in March.

Its first deal in April involved the acquisition of LM Funerals for £37.5 million alongside Duke Street and Babson Capital Europe. Earlier in September the firm invested in Dutch hotel business TVHG in an undisclosed transaction.

Giovanni Miele, partner at Metric Capital Partners, comments, ‘Our focus will be to further develop the business through new school openings and continue turning children’s lives around.

‘This transaction is consistent with our investment philosophy, given the strong downside protection in our investment coupled with the opportunity to generate attractive risk-adjusted returns through our equity ownership.’