CARE COMPANY NURSED FROM START-UP TO SALE IN SIX YEARS

CARE COMPANY NURSED FROM START-UP TO SALE IN SIX YEARS

Jane Taylor (foreground) with (left to right) Seamus Gates, Broomfield & Alexander, Nicola McNeely, Capital Law,
Mark Hislop, Broomfield & Alexander and Linda Newton, Positive Lifestyles.

A community nurse turned entrepreneur who opened a specialist care home for people with learning disabilities just six years ago and went on to set up eight more has sold the business to a private equity investor.

On completion of her nurse training at old Ely Hospital, Jane Taylor worked for many years helping to resettle patients from the hospital into their own homes in the community.

After working in both the voluntary and private sector, Jane set up Positive Lifestyles Ltd in 2001 to provide intensive support in small residential care homes throughout Cardiff and the Vale of Glamorgan. Six years on, the company now operates nine homes across the city, caring for up to 32 adults, often with intensive support needs.

Originally employing just 10 people, Positive Lifestyles now employs 125 and saw its turnover grow to over £2m in the last trading year before the sale. The business featured in the Western Mail Fast Growth 50 in 2005, and was a category winner for “Customer/Consumer Care” in 2007.

The company has been sold to Sovereign Capital, one of the UK’s most active private equity investors in the healthcare sector, who acquired it through its portfolio company Alkare Holdings Ltd for an undisclosed sum.

Professional advisors Broomfield & Alexander acted for her in the transaction, along with Capital Law LLP, which has worked for Jane Taylor since she set the company up.

Jane Taylor said the company’s philosophy has always been about providing clients with close, respectful support and a degree of confidence and independence.

“We have achieved this through the development of a best practice approach which has long been recognised and approved by the authorities,” she said.

“We have put together a highly professional, qualified team which has enabled us to grow at a rate we could never have imagined when the company was founded in 2001, and which ultimately, has led to the sale of the business within six years.

“We have received first rate advice and support from the teams at Broomfield & Alexander and Capital Law from the outset, and they guided us in preparation for sale.”

Broomfield & Alexander director Seamus Gates congratulated Jane on the exemplary growth she had achieved.

“Jane and her team have married their overwhelming desire to help people in a compassionate way with an admirable eye for the running and development of a business. It’s been a privilege to have supported them through their growth and the planning and execution of a successful sale.”

Capital Law’s Nicola McNeely said the firm had provided employment, corporate, commercial and property advice throughout the life of its business.

“The business achieved significant growth and the attention of investment companies with a view to a sale within six years – that is remarkable,” she said. “The shareholders’ expertise, ambition and focus has been terrific, and we are delighted to have been with them on the journey.”

Sovereign Capital was established in 1988 and has over £450million of funds currently under management, with over 40 investors, including international pension funds, insurance companies and endowment funds.

They acquired Swansea-based Alkare in February 2006. The business currently employs over 120 staff providing bespoke healthcare services for adults with mental health needs in and around the Swansea area.

Dominic Dalli, Director at Sovereign Capital, said the acquisition of Positive Lifestyles would further strengthen Alkare’s already considerable presence in Wales.

“Both Positive and Alkare have established reputations for high standards and quality of care. Together, they are well positioned to further take advantage of the market opportunity that exists. Sovereign has significant experience of working with healthcare businesses, and will continue to support the strategy for both acquisitive and organic expansion,” he said.

Date: 9th January