The Montreux Healthcare Fund acquires Jane Lewis
Trading as Jane Lewis, Chester Healthcare Ltd was established in 1987 to supply nurse staffing services to the NHS and private healthcare operators. It works across the North West and North Wales.
The acquisition – which has been completed for an undisclosed sum – involves the company joining the fund's neurological care platform Active Assistance. The bolt-on adds £1m in EBITDA.
Becky Garnett-Buchma, managing director of Jane Lewis, will continue to lead the business.
Oliver Harris, chief executive of Montreux Capital Management (UK), said: "The purchase of Chester Healthcare is a good strategic acquisition for Active Assistance as it will allow the business to have access to a flexible staffing pool at much lower cost than most of its competitors.
"We feel that the acquisition will help with the staffing headwinds which might occur post-Brexit and that, more importantly, the integration of this business will increase Active Assistance's appeal upon exit."
Garnett-Buchma added: "This deal will allow Jane Lewis to undertake its ambitious growth strategy with the support of the wider Active Assistance Group. Our advisers, David Hilton and James Rosthorn from Mazars, were integral to ensuring a successful process from start to finish which allowed the shareholders to achieve their objectives."
Hilton and Rosthorn provided corporate finance advice to the shareholders of Jane Lewis, with legal advice provided by Anton Stirrett and Holly Bartlett from Bermans.
Hilton said: "Jane Lewis has a fantastic management team and the deal with Montreux will allow the business to implement its ambitious expansion plan. We continue to see significant activity levels in the healthcare sector from both trade acquirers and private equity firms, which reflects opportunities for mid-market business owners."
Crowe Clark Whitehill and Gowling WLG advised Montreux Capital Management.