BGF has successfully exited its minority stake in care service provider, The Good Care Group, alongside all other shareholders. Following a period of significant organic growth, the company has been acquired by Sodexo UK.
The Good Care Group offers industry-leading live-in care services which help people live well at home for longer by providing specialist care in the comfort of the home.
Founded in 2009 by Fiona Lowry, the group provides care to clients around the UK. The business is leading the way in supporting those with medical conditions including dementia, Parkinson’s, MS and Motor Neurone disease – helping to improve their wellbeing and overall quality of life.
BGF invested £2.5m into the group in 2016 to support its ambitious growth and development plans. The capital has been used to drive organic growth through recruitment, marketing and technology – digitalising its processes to better manage care plans and interventions.
The funding also supported the integration of Oxford Aunts, allowed angel investors to exit and incentivised the management team and employees. Shortly after the partnership with BGF, the company received an outstanding rating from the Care Quality Commission (CQC).
Following the acquisition by Sodexo, CEO Fiona Lowry and FD Steve Crowther will step down from their roles and provide consultative support. MD Belinda Berkeley and COO Dominique Kent will remain in the business. The exit has resulted in strong returns for all shareholders, which includes a significant number of employee stakeholders.
Fiona Lowry said: “We have achieved a phenomenal amount over the past 10 years, accelerated by BGF’s support and funding. I’m immensely proud of what the entire team has achieved and of their unrelenting commitment to care. I know that they are now looking forward to the next stage of growth with Sodexo.
“Having worked with private equity companies before, I know that BGF is great to work with – responsive, flexible and supportive. It’s been a pleasure to work with them.”
Will Gresty, BGF said: “When we first met the team at The Good Care Group, it was clear that they were dedicated to driving up standards and professionalising home care. Fiona has built a top rate team around her and developed a sense of employee ownership across the group that has helped deliver exceptional care and growth. We are delighted to see that this has been recognised through the acquisition by a world-leading business such as Sodexo and wish the team continued success within Sodexo.”
BGF’s investments in health and care include Springfield Healthcare Group (Leeds), Dolphin Homes (Portsmouth), Parklands Group (Moray) and Brindley Healthcare (County Donegal).