UK mid-market firm August Equity’s portfolio company Lifeways Community Care has acquired both Clover Care and Home Support Services (HSS) for an undisclosed sum.
Based in Lancashire, Clover Care provides supported living for young adults with learning disabilities and challenging behaviours. HSS is based in Inverness, Scotland and also operates living services for young adults with learning disabilities.
The acquisitions were funded by debt provided by HSBC and represent an expansion into two new geographies by Lifeways.
August Equity’s Aatif Hassan said: “The two new acquisitions are an exciting development for Lifeways. They broaden its geographical scope and further strengthen its commitment to high quality service throughout the UK. We are keen to continue the development of Lifeways and hope to announce more acquisitions in the near future.”
August Equity typically invests between £10-50m of equity in UK-based companies. It initially backed Lifeways in July 2007.