6 August 2014
Partners Group and Duke Street/Tikehau to lead GBP 375 million acquisition of Voyage Care from HgCapital
A consortium of Partners Group, the global private markets investment manager, Duke Street, the European mid-market buy-out sector specialist, and Tikehau, the multi-asset class investment manager, today announced the acquisition of Voyage Care on behalf of their clients from HgCapital, the European private equity investor, in a GBP 375 million transaction.
Voyage Care, headquartered in Lichfield, UK is one of the UK’s leading providers of specialist residential services and supported living for people with learning disabilities, associated physical disabilities, autistic spectrum disorders, acquired brain injuries or other complex needs. The vast majority of people supported by Voyage Care typically require high levels of support throughout their lives. Under HgCapital ownership, Voyage has grown to a business with approximately 8,500 employees, supporting over 2,000 people across 290 care homes as well as supporting approximately 1,000 individuals in supported living and their own homes. The company has also developed a strong reputation for high quality care provision.
“We are very excited about the new partnership with Partners Group and Duke Street to support our business values and commitment to quality,” said Kevin Roberts, Chief Executive Officer at Voyage Care. “The combined network and sector experience of our new partners provide the ideal platform to support us in further expanding our service offering throughout the UK while ever improving our quality standards for the people we are privileged to support.”
Kevin Roberts adds: “We appreciate the excellent strategic support that HgCapital has provided during their ownership, which has helped to establish Voyage Care as a leading specialist care provider with exceptional service quality.”
“This is a company and sector we know very well having owned the business and worked with management closely over a very successful period of its development through to its sale to HgCapital”, said Charlie Troup, Duke Street partner. “We have also worked closely with Partners Group and are delighted to be combining our deep knowledge of this sector to support the business through its next phase of growth while maintaining the very highest standards of quality care.”
"We are really looking forward to working with the whole management team of Voyage Care, particularly as it is the clear market leader with a reputation for providing very high quality care, together with Duke Street”, said Andrew Deakin, Managing Director in Partners Group’s Private Equity team. “Due to our strong global industry network, we are well-positioned to support the company’s buy-and-build strategy within a highly fragmented market, and continue to build its services which are of essential importance for the well-being of society.”
Philipp Schwalber, a Director in HgCapital’s Services team said: “We wish Voyage Care every success under its new ownership. HgCapital is proud to have supported Voyage Care in becoming a quality leader in its market and invested in its growth. Voyage Care operates as an industry champion, has a strong management team in place, a clear strategy, and above all, a culture which ensures absolute commitment to providing the highest levels of service to those under its care. This is a strong base from which Voyage Care can continue to grow.”