Buy and build investment group, Tristone Capital, has acquired Premier Care Management through its care division, Tristone Healthcare.
Premier Care Management was founded in 2009 by Steve Bristow as a provider of community and outreach services within the Southwest as an alternative to residential accommodation and support, for vulnerable adults, young people and young offenders.
The Bristol-based organisation provides supported accommodation for young adults across 13 properties with a team of 26.
As part of the transaction, Hayley Williams will retain a minority shareholding and continue in her role as managing director. She said: “We’ve built a strong reputation for providing alternatives for those in care and those leaving care, to move from adolescence into adulthood and ensure its successful and a safe transition. Our experienced team strives to provide our young people and adults with positive and successful outcomes to reach their full potential. We believe the business has significant future potential and to maximise this, we would need to find a partner to support the next stage of growth and ensure an effective succession plan. As well as sharing our values and vision for Premier Care Management, Tristone brings the deep industry expertise, infrastructure and business experience that we were looking for.”
Tristone recently launched an independent safeguarding board made up of seven of industry’s leading figures responsible for observing and overseeing care and safeguarding matters for Tristone Healthcare’s portfolio of businesses.
Yannis Loucopoulos, founder and chief executive of Tristone Capital, said: “Hayley and the team at Premier Care Management have built a highly-regarded business delivering life-changing support services. As we continue to grow our community of investment businesses across the UK, we recognised that Premier epitomised our acquisition criteria – a company which delivers outstanding services and is well-run, profitable and cash generative. In addition, we identified clear synergies with the service offering and location of current portfolio business, Sportfit Support Services. We look forward to working with the team to support future growth and delivery of the excellent support which has become Premier Care Management’s hallmark.”
The deal was brokered by estate agency Redwoods Dowling Kerr. Tristone was advised by business advisory and accountancy firm MHA Moore and Smalley. St John’s Legal provided legal advice. Richardson Swift provided tax and accounting advice to the vendors. Ince Metcalfes provided legal advice.
Simon Carruthers, corporate finance director at MHA Moore and Smalley, said: “Premier Care Management is a great addition to Tristone Healthcare’s impressive portfolio of purposeful businesses that are creating real community impact. We’re proud to have assisted Tristone on this strategic acquisition that will deliver benefits for a wide range of stakeholders, especially in allowing Premier Care Management to secure the investment needed to help even more people.”
Date published: June 10, 2021