The deal
Specialist residential and outreach service provider, New Bridges, has been acquired by brain injury support specialists, Tracscare, in a deal supported by our Corporate Finance team.
New Bridges provides residential service in small, specialist homes for adults with complex needs and an acquired brain injury or a learning disability, including difficult or challenging behaviour. They work collaboratively with case managers, social services, local health boards, general practitioners, consultant psychiatrists, occupational therapists, physiotherapist & speech and language therapist, solicitors & private consultants.
Tracscare is a specialist, outcome focused provider of support to people with Mental Health needs, Learning Disabilities, Autism and Acquired Brain Injuries. They work in partnership with commissioners to deliver responsive, flexible, specialist support in registered residential and supported living settings.
Our Corporate Finance team led by Partner Gary Partridge facilitated the sale of New Bridges acting for the shareholders throughout the deal. The purchase of New Bridges is part of Tracscare’s ongoing growth strategy to provide a comprehensive range of services supporting people with acquired brain injuries, learning disabilities, autism, and mental health needs.
This acquisition will provide high-quality social care across residential homes, individual flats and outreach support services in the Newport and North Somerset area.
Gary Partridge, FRP Corporate Finance Partner said: “The acquisition of New Bridges by Tracscare will enable the business to provide a wealth of specialist support services for people with acquired brain injuries and mental health needs across Wales.
“Both organisations will benefit from the knowledge and expertise of the other with the acquisition providing an industry-leading service. We would like to wish both Tracscare and New Bridges every success in their new venture.”
Deal summary
Date:
November 2016
Sector:
Healthcare
Deal type:
Selling a business
Deal size:
Undisclosed