Bracebridge Corporate Finance has advised on the £16.9m sale of Selborne Care Ltd to CareTech Holdings PLC.
Selborne is a high quality provider of specialist residential care, supported living and day care services for adults with learning disabilities and challenging behaviours. Selborne is based in Droitwich in Worcestershire and operates across the Midlands and the South West.
Selborne was founded in 2006 by John McAllister, Mike Stratford, Simon Bishop and Peter Mooney, who all have extensive healthcare experience. Selborne has delivered year on year growth since it was founded.
Mike Stratford, Chief Executive of Selborne commented: “We are extremely proud of the entire team at Selborne and we have every confidence that the company will continue to expand and provide high quality services under CareTech’s ownership”.
Bracebridge Corporate Finance was appointed to explore the strategic options for sale and to advise on the sale process, identifying potential purchasers and advising on the financial and commercial aspects of the transaction. Andy Moore, Managing Director of Bracebridge Corporate Finance added: “This is an excellent result for the shareholders of Selborne and is in line with CareTech’s strategy of geographic expansion and strengthens its presence and service offering in the Midlands and South West”.
”We have enjoyed working with Bracebridge. Andy’s depth of knowledge and experience of the care and support industry together with his quality strategic advice has led to a successful conclusion of our objectives.”
CareTech, which is listed on the AIM market of the London Stock Exchange, is a pioneering provider of specialist social care services.
Legal advice to the vendors was provided by Peter Hill, Thomas Rainey and Naomi Spring from Freeths.
Photo: L-R: Peter Mooney, Lynne McAllister, Simon Bishop, Mike Stratford, Andy Moore and John McAllister.