A South West care provider has been acquired for an disclosed sum.
Plymouth-based Beyond Limits specialises in supporting people with learning disabilities and mental health issues. The business operates across Devon, Cornwall, Somerset, and Dumfries and Galloway in Scotland, employing around 130 staff and supporting 26 individuals.
Tristone Healthcare - the care division of Manchester investment group Tristone Capital - has bought the company which is rated ‘outstanding’ by the Care Quality Commission (CQC).
Managing director Doreen Kelly, who founded Beyond Limits in 2011, will retain a shareholding and remain in the business as part of the deal.
Ms Kelly said she had considered a number of exit options, including a management buyout or establishing an employee ownership trust, as part of succession plans towards her gradual retirement.
The entrepreneur was advised by Torquay-based law firm PKF Francis Clark, who said the sale would provide Ms Kelly the “best exit route”, amid a “healthy level” of transactions in the social care sector.
Dave Armstrong, corporate finance director at PKF Francis Clark, said Tristone was the “ideal partner” to take Beyond Limits through its next stage of growth.
Mr Armstorng added: “Thanks to the hard work and dedication of Doreen and her team, Beyond Limits has established itself as a growing, high quality operator in a challenging market, and we look forward to seeing this success continue with the backing of Tristone.”
Tristone founder and chief executive Yannis Loucopoulos said: “[Beyond Limits] has all the hallmarks of a business we love to invest in – one which is delivering outstanding care and support, has a great management team, clear opportunities for growth and strong financial fundamentals.
“Demand for services in the geographical areas in which Beyond Limits operates is extremely high and we will be supporting the management and staff teams to unlock sustainable growth and value and ultimately positively impact more lives.”
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
