Background

Founded in 2011, Bournemouth-based Nourish Care Systems is the leading provider of digital care planning software to the UK health and social care markets. The business, which uses cloud technology and data insights to help carers optimise care outcomes, has grown rapidly in recent years, and services more than 300 care providers across 1,800 UK settings. Livingbridge, one of the UK’s leading mid-market private equity investors, was looking to invest in Nourish, and appointed FRP Corporate Finance to secure a finance package to support the deal.

Action

FRP Corporate Finance’s Debt Advisory team has a wealth of experience and extensive knowledge of debt financing and mergers and acquisitions. The team was able to identify and secure the best available annual recurring revenue (ARR) debt structuring to support Livingbridge’s investment in Nourish, which is underpinned by the PE company’s two decades of experience in the social care, health care and software sectors.

Outcome

The successful transaction – the fourth time FRP Corporate Finance’s team had supported Livingbridge within a year – has resulted in a partnership that closely aligns the values of the two businesses. Nourish can now further develop its best-in class platform, continue to innovate in its use of data to improve care outcomes, and broaden the number of care settings it can support.