Tue, 10 Jun 2014 | BUSINESS SALE
G Square has purchased Tracscare Group, a specialist residential care home provider.
The private equity firm G Square has bought out Sovereign Capital’s investment in the business, with a view to continue its expansion.
Tracscare Group offers services to people with mental health issues, learning disabilities, and autism and brain injuries, among other needs. It was established as Tracs Ltd with its first home in Swansea in 1983.
Sovereign purchased the group in 2004 for about £26 million, and has expanded through organic growth and bolt-on acquisitions. It had 21 homes at the time of the initial investment and has since expanded to 75, now catering for more than 350 service users, up from the original 130.
Rob King, Sovereign’s investment director commented on Tracscare’s development to Insider Media. He said: “When we invested in Tracscare we developed a growth strategy that involved both carefully considered acquisitions and organic growth as we believed that there was increasing demand for the specialist, high-quality care.”
Companies acquired by Tracscare include Compass Care Ltd in May 2005, Alkare in 2006, Alkare Therapeutic Ltd in 2008, Positive Lifestyles Ltd in 2007 and Cascade in 2012 to add complementary services to Tracscare’s offering.
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