MBO at Eden Supported Living
Supported living provider Eden Supported Housing has undergone a management buyout (MBO) with the backing of private equity group Sovereign Capital. The buyout of Newark-based Eden was advised by Midlands law firm Browne Jacobson.
Eden provides long term care and support for adults with learning disabilities through its six offices in Nottinghamshire, Nottingham City, Lincolnshire and South Yorkshire.
The new management team will be led by managing director Paul Adcock and property director Mick Nichol Smith. They will be joined by finance director Michael Bryant.
Oliver Pritchard, corporate partner at the Nottingham office of Browne Jacobson, advised the new management team.
He said: “The healthcare sector, particularly domiciliary care and supported living, has been an active area for private equity houses for the last 12 months. We are delighted to have acted for a first class management team that unquestionably has the expertise, drive and passion to ensure the business achieves its ambitious growth plans and we look forward to working with them in the near future.”
Chartered accountant Cowgill Holloway and law firm HBJ Gateley Wareing advised the selling shareholders.
KPMG, legal adviser Pinsent Masons and Clearwater Corporate Finance advised Sovereign Capital.
The sum of the MBO was not disclosed.
