Ermine acquired by Care Principles

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

Specialist care provider Care Principles has completed its first acquisition following a £90 million buy-out by venture capital group 3i in March. For an undisclosed sum, the company has acquired Ermine Care Ltd, a group of three independent hospitals and one care home in Lincolnshire and Cambridgeshire, providing residential and domiciliary services to people with learning disabilities and mental health problems detained under the Mental Health Act. Care sector consultants GLP brokered the transaction. GLP director Ian Wilkie said the sale had been completed on the same day as the 3i buy-out was announced. “We were aware that 3i was restructuring its investment in the company which has now taken its stake from 38 per cent to 85 per cent of the Care Principles business,” Mr Wilkie said. “Managing the Ermine Care transaction in tandem with this process threw up some challenges, but Ermine Care is an excellent strategic fit for the Care Principles business model and this will provide the platform for additiona

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