City & County Healthcare acquires Sterling to create UK's 5th largest domiciliary care provider Monday, 19th April 2010
Sterling Homecare Limited ("Sterling") has recently been sold to City & County Healthcare (formerly London Care). This is the first bolt-on acquisition for City & County since it was acquired by Sovereign Capital.
Based in Blidworth, Nottinghamshire, Sterling provides c. 7,000 hours of care per week to the elderly in their own homes, under contract to Local Authorities, Primary Care Trusts and a number of private clients. Each of Sterling's five branches across Nottinghamshire and Leicestershire are rated as "good" by the Care Quality Commission, as reflected in the strong customer relationships and local market reputation.
The acquisition of Sterling, which employs over 300 people locally, creates the fifth largest provider of domiciliary care in the UK. The Group now employs 1,800 staff across 18 branches, including 1,680 care workers, assisting elderly people with their everyday tasks and enabling them to receive care at home in their later years.
The Sterling management team, led by Stuart Carlton and Debbie Woolley, will continue to work in the business alongside City & County’s CEO, Craig Rushton, to operationally integrate the businesses and continue to grow the regional customer base.
The Vendors were advised throughout the transaction by Andrew Durbin and David Crump of Smith Cooper Corporate Finance (“SCCF”) and Philip Raven, Paul Feenan and Rumit Nanji from law firm, Freeth Cartwright.
Stuart Carlton commented: “I am looking forward to continuing the development of Sterling with the added support of City & County. I am also grateful to the teams at SCCF and Freeths for their invaluable help in guiding me through a non straightforward process.”
Craig Rushton, CEO of City & County Healthcare added: "We are pleased to welcome the team at Sterling to the Group and look forward to working with them to take advantage of the significant tender opportunities available to build on their impressive growth in the Midlands."
