Birkett Long Closed Deal on Multi-Million Buy-out
Essex law firm, Birkett Long, has helped complete a deal worth £75 million involving its client, Healthcare Homes Group.
The deal involved a sale of the shareholding of venture capitalist August Equity in the residential care provider to private equity firm, Bowmark Capital. Healthcare Homes Chief Executive, Richard Clough, has worked with Bowmark Capital in previous deals and sees this move as beneficial for the residential healthcare sector in East Anglia.
Philip George, Managing Partner at Birkett Long, was responsible for heading the diverse team of legal experts that worked on the deal, including Commercial & Corporate Finance lawyers David Wisbey, Andrea Brown and Kate McCormick; Commercial Property experts Jane Calnan, Ron Rosenthal, Chris O’Mahony and Vanessa Gardezi; and trainee lawyers Emily Brown and Jonathan Evans.
Mr George said: “We have had a long relationship with this client and are delighted to see them going from strength to strength. Healthcare Homes will benefit from a £35 million injection of equity funding from Bowmark as it pursues its strategy of growth through targeted acquisitions.” The deal was also funded by £40 million from the Royal Bank of Scotland.
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