Gowling WLG has advised Cairngorm Capital Partners LLP (Cairngorm Capital) on its acquisition of Millbrook (Millbrook) Healthcare as its first investment in the assisted living sector.
The firm's Private Equity team advised Cairngorm Capital's second fund, Cairngorm Capital LP II, in acquiring the healthcare outsource provider, which has 29 service centres across the UK, and Millbrook Healthcare's subsidiaries, Ultimate Healthcare Limited and Consolor Limited.
Following the transaction, Cairngorm Capital is partnering with the existing management team to expand the reach and broaden range of services offered by Millbrook, which currently provides mobility-related services, including wheelchair, community equipment, telecare and home improvement, to local authorities and NHS trusts around the UK.
Corporate Partner and Head of Private Equity Ian Piggin led on the transaction, supported by a Corporate, Finance and Tax Principal Associate Stephen Bowman, and Associates Fabiano Iesini and Tom Smith.
Partner Ian Piggin, said: "Cairngorm Capital is extremely active in the mid-market and we're delighted to support the team their 21st proprietary transaction, following our recent advisory on the acquisitions of Stamco and Fairalls. This is their first foray into the assisted living sector, and we wish Cairngorm Capital all the best with this latest venture and we look forward to supporting their continued growth in the sector."
Dr Amit Thaper, who led Cairngorm Capital's team on the investment, said: 'Our firm is very conscious of the need to support the evolving needs of an ageing population and to reduce the pressure on acute services - it has long been an objective of ours to support companies delivering the solutions to do so. The team at Gowling WLG were dedicated to helping us secure this latest acquisition and to getting the deal completed efficiently and effectively. Their expertise and in-depth knowledge of the market has been invaluable throughout."
Gowling WLG's team of Private Equity experts advises private equity and venture capital investors on a broad range of investments, acquisitions, reorganisations and exits in the mid-market and lower mid-market.