Bespoke Health & Social Care Ltd (BHSC) has acquired two complementary specialist complex healthcare providers with a unitranche funding arrangement with Shawbrook Bank.
This follows the original buy-out of BHSC by Westbridge in June 2020 for which unitranche debt funding was provided by the Shawbrook Financial Sponsors team.
The Nottingham-based firm, which already has operations across the Midlands as well as North and South West of England, will expand into the South Coast following the purchase of Team Healthcare Acquisition Ltd (THA).
TMA consists of two wholly owned operational businesses based in Southampton – Team Medical Limited (TMS) and Team Brain Injury Support Limited (TBI).
Both companies provide specialist home care support for individuals with acquired brain injuries and other neurological disorders, which are complementary to BHSC’s offering.
Shawbrook Bank is part funding the acquisition through a unitranche facility, helping BHSC to acquire 100% of the share capital of TMA.
Tim Whittard, partner at Westbridge Capital, owners of BHSC, said: “We are delighted to have supported the first acquisition for BHSC.
“The business has performed very well since our initial investment and has grown faster than originally predicted and therefore it was well placed to take advantage of the opportunity to acquire THA just six months after our initial investment.
“As investors in high quality independent businesses, we need to operate at pace. Speed, certainty and flexibility are the essential characteristics we look for in any funding partner – Shawbrook has continued to deliver on all three aspects and we are pleased with the support provided by the Shawbrook team on this growth opportunity for BHSC.”
Deepak Parekh, senior director within Shawbrook’s Financial Sponsors team, added: “We have been impressed by the progress made by BHSC over the past six months and we are delighted to support their continued success through the provision of funds to support this acquisition.
“THA is a well-established business which aligns well with BHSC’s growth strategy and will further broaden its market presence both from a service proposition and geographical footprint perspective.
“WestBridge are experienced mid-market investors and operators with an established track-record in the healthcare sector and in buy-and-build growth strategies in particular. It has been a positive experience working with them and BHSC’s management team on this transaction.”