Cardiff-based residential care specialist Positive Lifestyles has been purchased by Swansea- based Alkare Holdings. Both companies provide care for adults with mental health needs and learning difficulties.
Cardiff-based residential care specialist Positive Lifestyles has been purchased by Swansea-based Alkare Holdings. Both companies provide care for adults with mental health needs and learning difficulties.
The transaction, of which financial details are undisclosed, was supported by private equity group Sovereign Capital, which backed the management buy-out of Alkare last year for £22 million. The deal is in line with Sovereign’s stated buy-and-build strategy, which it claims to apply to all of its investments, having made 27 follow-on acquisitions over the past two years.
Dominic Dalli, director at Sovereign Capital, says: ‘Both Positive and Alkare have established reputations for high standards and quality of care with a specialist client group. Together they are well positioned to work in partnership with their local authority customers and support clients in the step-down from hospital.’
Positive Lifestyles was established in 2001 and works in partnership with Cardiff and other South Wales authorities. It currently has 32 clients with intensive support needs across nine homes.
The acquisition of Positive is the second deal backed by Sovereign this month, following the purchase of gas maintenance specialist TA Horn by property management services group Kinetics.