Clifford House acquired for £10m
Herefordshire-based children's homes provider Clifford House has been bought by Advanced Childcare in a £10m deal.
The bolt-on acquisition will provide Stockport-based Advanced Childcare with an additional 13 residential homes and one school located across the West Midlands and Nottinghamshire.
Clifford House will expand the company's home portfolio by 35 per cent to 49 homes with 200 places.
Advanced Childcare said the acquisition would enable it to meet increasing local authority demand for high-quality homes.
Riz Khan, founder and chief executive of Advanced Childcare, said: "Clifford House will enable us to build deeper partnerships with Local Authorities to meet their increasing need for locally-based children’s homes which can deliver better outcomes for more complex young people at lower cost.
"The acquisition strengthens Advanced Childcare’s offerings and represents a further step in our plans to invest up to £100m to transform Advanced Childcare into the market leader."
Khan described Clifford House as a "key hub" for further expansion into the South East and other regions of the UK.
The transaction was funded by capital from GI Partners Fund III L.P.
