Greater Manchester young people’s services provider acquires residential care operator
A Greater Manchester company which provides care services to vulnerable young people has purchased a children’s residential care provider also based in Greater Manchester, with funding support from Shawbrook.
At a glance
A Greater Manchester company which provides care services to vulnerable young people has purchased a children’s residential care provider also based in Greater Manchester.
CFS Care was established in 2016 and is based in Atherton, Greater Manchester. The OFSTED-regulated company provides fostering, supported accommodation and residential care services for local authorities across the Northwest and employs around 55 staff.
The company has purchased Next Stage 4 Life, a residential young person’s care operator based in nearby Bolton, which manages eight homes on behalf of local authorities across Bolton, Bury, Wigan and Chorley. The business employs around 65 staff.
The acquisition will allow CFS Care to expand its young people’s care operations complementing its existing fostering, supported accommodation and residential young people’s care provisions. It was funded through a debt facility provided by Shawbrook Bank’s specialist Healthcare Finance team, led by Christos Christodoulou and Benjamin Sanders.
Our business is built on the principle of putting the young people in our care, as well as our carers, at the heart of everything we do and this was the key reason behind the acquisition.
Kim York continued:
“Expanding our residential care service means we can offer the support which best suits the particular needs of young people brought into our care and gives them a safe and nurturing home environment - whatever that may be.
“Next Stage 4 Life has a strong reputation in the Greater Manchester and Lancashire area with an excellent and experienced team. I’ve thoroughly enjoyed welcoming them to the CFS Care family.”
National accountancy and business advisory firm MHA supported CFS on the acquisition, providing a wide range of corporate finance and due diligence advice, alongside banking and finance services.
Benjamin Sanders, Associate Director, Healthcare at Shawbrook said:
“The UK’s care sector provides vital services to people of all ages and needs and supporting its growth directly impacts the lives of vulnerable people across the country.
“It’s vital that acquisitions of this type are properly financed, which often includes growth capital, so the companies involved can expand the scope and range of their services to best suit the needs of those they help, increasing their positive contribution to society.
“It’s been a pleasure to work closely with all parties involved to support this acquisition and I’m looking forward to following CFS Care’s continued growth over the coming years.”
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