Cambian Group has secured a deal to buy Woodleigh Community Care for an enterprise value of £63m. The deal will be funded from the group’s banking facilities. Woodleigh, which has its head office in Leeds, operates 152 beds, across 13 residential homes and supported living units and one hospital in Yorkshire.
The business provides specialist, community-based, care for adults with complex needs, challenging behaviours and learning disabilities.
According to Cambian, Woodleigh’s approach is aligned with Government care policies. The deal also provides Cambian with a platform to introduce these services outside Yorkshire.
Saleem Asaria, the chief executive of Cambian, said: “We are delighted to have acquired Woodleigh. It enables us to enter the Yorkshire and Humber region, and, importantly, brings increased specialist capability to the group which will enable us to extend the services we offer across the business.”
Lawyers from Leeds-based Walker Morris provided advice in connection with the deal.
John Hamer, the head of corporate at Walker Morris, said: “The specialist care sector is undergoing significant change at a time when local authority budgets are under huge pressure, and demand for specialist care services is increasing. The sector remains highly fragmented and we expect to see further merger and acquisition activity.”
Corporate finance advice to the sellers was provided by a Leeds-based team from KPMG, which included Christian Mayo, Giles Taylor, Dan Smith and Andrew Nicholson.