Carewatch, the homecare service provider backed by growth investor Lyceum Capital, has completed three bolt-on acquisitions.
Carewatch, the homecare service provider backed by growth investor Lyceum Capital, has completed three bolt-on acquisitions.
In a series of deals completed this year to increase its geographical reach, Carewatch has purchased the franchise businesses Graham Home Care, Carewatch North and East Riding of Yorkshire, and Carewatch Greenwich. Since being backed by the private equity firm in October 2008, the homecare service provider has made 19 acquisitions, which brings the total number of branches under its control to more than 150.
To increase services in London, Carewatch has acquired its largest franchise operation, Graham Home Care. Established in 1996 by Sally and Ian Graham, Graham Home Care provides support services to around 850 users, delivering over 13,000 hours of care each week. The company specialises in children and family care, serving the elderly, physically disabled, people with learning disabilities and also provides palliative care.
The Carewatch Greenwich branch in London provides about 1,500 weekly hours of homecare mostly on behalf of Greenwich Council. The third acquisition, Carewatch’s North and East Riding of Yorkshire franchise, offers services primarily for the frail, elderly and younger adults with disabilities.
In 2010, Lyceum Capital arranged an additional £25 million of funding in part to enable Carewatch to continue making further acquisitions.
David Lyon, chief executive of Carewatch, comments, ‘These three bolt-ons represent a significant step forward in our delivery of high quality services to the population of Greater London, Yorkshire and Edinburgh. We aim to continue the management teams’ focus on maintaining and enhancing their high standards and further build the enlarged company’s support network.’
