Sovereign Capital announces first exit

Posted on July 1st, by editor in Caring Times. No Comments

Independent lower mid-market UK private equity provider Sovereign Capital Partners LLP (Sovereign Capital) has realised its investment in specialist education provider SENAD Group through the sale of the Group in a £130m deal to an unnamed corporate buyer. Sovereign says the transaction generated an IRR of 110 per cent. This is the first exit from the £120m Sovereign Capital Limited Partnership I fund (SCLP I), which closed in May 2002. SCLP I has a further 14 investments pursuing Sovereign’s buy-and-build strategy. SENAD, which operates residential schools for children and care homes for young adults with Special Education Needs in Derbyshire, Staffordshire and Wales, was created in January 2003 by Sovereign Capital from the £22m institutional buy-out of Honormead Schools and the subsequent £9.5 million acquisition of Principal Care Services. Since then, the Group has grown both organically and through three further acquisitions, Tregynon Hall, Aran Hall and Orchard School. Today. SENAD offers over 400

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