Azets, the UK Top 10 accountancy firm, has advised Care Homes for Adults with Disabilities Ltd (CHAD) on its sale to Swanton Care & Community Ltd (Swanton).
CHAD was founded in 2005 and operates three properties across Whitley Bay in Tyne and Wear. It has evolved to become a leading care home for adults with learning difficulties. CHAD is a well-recognised provider and together with Swanton will work on further local expansion of its services.
Swanton provides specialist, high-quality supported living, residential and nursing care for adults and children with autism and learning disabilities and other services through its leading-edge facilities across England, Wales, and Scotland. The acquisition of CHAD will allow Swanton to further expand its North East hub. Swanton is funded by Apposite Capital, an experienced Private Equity funder committed to investing in the healthcare sector and in growing such investments both organically and via acquisitions.
Azets’ Corporate Finance team in the North East provided lead advisory services to CHAD, led by Corporate Finance Partner Lee Humble. He was supported by Mike Williams, Associate Director and John Aitken, Corporate Finance Senior Executive.
Legal services were provided by Womble Bond Dickinson led by corporate lawyers Oliver Rickett (Managing Associate) and Becky Brook (Solicitor), supported by Ellie Tilbrook (Trainee Solicitor) and real estate lawyers, Jenny Smith (Managing Associate) and Lydia Sharpe (Solicitor).
Andrew Dalton, Chief Executive Officer, Swanton Care & Community said:
“We are delighted to have acquired CHAD, an established and highly reputable company with a great track record. This deal will support our expansion into the North East.”
“They received terrific support from Azets, who helped navigate and negotiate the acquisition. We appreciate the dedication of the team in managing a smooth process throughout and delivering a successful transaction.”
Michele Millen, Owner of CHAD said: “We are delighted to have handed over the reins to Swanton Care ensuring the high-quality standard of care remains for all of our Service Users. Many thanks to Azets and Womble Bond Dickinson for their assistance and exceptional service throughout.
“Azets were absolutely fantastic throughout and went above and beyond to ensure we got the best deal available. We were kept up to speed every step of the way and we were delighted at the timely advice that we received. We would thoroughly recommend Lee Humble and Mike Williams to anyone looking to sell their business.”
Lee Humble, Corporate Finance Partner at Azets said:
“We are delighted to have advised CHAD on its sale. Swanton are in a fantastic position to take CHAD from strength to strength building on its excellent reputation for providing care to adults and children with complex needs and supporting them in achieving greater independence.
“This is one of several care related businesses we are currently advising and see no slowdown in demand for well managed assets in this sector.”
Oliver Rickett, corporate lawyer at Womble Bond Dickinson said:
“We very much enjoyed working with Lee and the Azets team on the sale of CHAD to Swanton; another great example of Private Equity backed national acquirors recognising the high potential and calibre of businesses within the North East.
CHAD is a truly successful business and delivers for a great cause – we’re really looking forward to following its continued progress under Swanton’s stewardship.”