August Equity has launched a buy-and-build strategy in the domiciliary care market with the acquisitions of platform company Enara and First Call Care Services.
The Enara platform deal is the third from August’s latest fund, and the firm will commit £20m (€25m) to support Enara’s buy-and-build platform.
Enara, based in Ealing, West London, is an independent provider of private and social services-based homecare for the elderly and adults with learning difficulties in London and the Home Counties.
Essex-based First Call provides homecare for children and adults with spinal injury, brain injury and challenging behaviour.
The August Equity investment team consisted of Philip Rattle, Aatif Hassan and Keith Davidson. Aatif Hassan will join the board as non executive directors.
August Equity has introduced Charles Auld, former chief executive of General Healthcare Group and ex-chairman of Healthcare Homes Group, as non-executive chairman.
“The homecare market is growing at an attractive rate, driven by long-term demographics and government policy. It is also highly fragmented, creating opportunities for consolidation,” said Hassan.
Domiciliary care has attracted increasing private equity investments. Both Baird Capital Partners Europe and Lyceum Capital have recently completed deals in the market.