Deal

FRP secures healthy future for Ludlow

Corporate Finance team advises on sale of healthcare group to Holmleigh

We’re pleased to have advised specialist care provider Ludlow Street Healthcare Group on a successful sale that maximises value for shareholders while securing an excellent new home for the company, its service users and staff.

Cardiff-based Ludlow Street Healthcare Group provides specialist care, education and treatment for adults with complex needs associated with mental ill-health, learning disabilities, autism, acquired brain injury and neurodegenerative conditions in England and Wales across its three mental health hospitals, 16 community based care homes and its further education college.

On being appointed by the company’s main shareholder to find a suitable new owner, our Corporate Finance team managed the entire sale process, working closely with management to prepare the business for sale, generating significant levels of interest before identifying and approaching potential buyers.

We subsequently selected London-based infrastructure investment manager Ancala Partners LLP and its Gloucester-based portfolio company Holmleigh Care Group – a residential and supported living provider sharing Ludlow’s passion for providing safe, compassionate and dignified care – as the most appropriate buyer.

Our team, led by Corporate Finance Partner Mark Naughton, then negotiated the final deal and managed the sales process to completion.

David Lawrence, Chief Executive of Ludlow Street Healthcare Group, said: “We chose FRP to help us find a new owner because we felt there was a strong match between them and what we felt we needed from our advisors. Throughout the process the FRP team was hugely supportive, and we always felt that they were doing their utmost to deliver the best result for our shareholder. Their commitment was key to delivery of the deal between us and Holmleigh and we now look forward to the next exciting chapter in the development of the business as part of a like-minded and financially strong Group”

Mark Naughton, Corporate Finance Partner at FRP Corporate Finance, said: “We were delighted to work with the shareholders and senior management team to find a suitable partner for the business. Despite the challenges presented by COVID-19, our team was able to generate significant levels of interest from a wide pool of potential buyers. Holmleigh Care Group is an exceptional business that shares the same values and focus on quality of care as Ludlow, and we wish them well for the future.”

Related team

Mark Naughton

Mark Naughton

  • Partner
  • Corporate Finance
  • Bristol

Alex Sargeant

Alex Sargeant

  • Director
  • Corporate Finance
  • Bristol

Freddie James

Freddie James

  • Associate Director
  • Corporate Finance
  • Bristol