Hazlewoods Corporate Finance supports on Civitas's latest £200 million acquisition

Published: Thursday 15 December 2022

A £200 million property portfolio has recently been acquired by Civitas Investment Management (Civitas) from the UK-based social care and education services provider CareTech. 

The acquired portfolio comprises a mix of specialist schools and children’s homes. The process which began earlier in the year was run by global property consultancy Knight Frank.

Civitas Group Director, Tom Pridmore, said, “This [transaction] reinforces Civitas’s commitment across the whole spectrum of the specialist care sector which is reorganising its balance sheets to reduce exposure and risk.

“A key consideration when selecting CareTech’s portfolio was the quality of the care provider, the provision of the services, the infrastructure that supports those services and the real estate itself which is excellent.”

Hazlewoods Corporate Finance team undertook financial due diligence on behalf of Civitas.

Richard Dade, Hazlewoods Partner, said, "We have developed really close working relationships with both Civitas and CareTech, supporting each with their investment activity in the sector over several years. It was great working with both teams on this innovative and successful project."

Vivienne Howell, Healthcare Director at Civitas, commented, “There was a really thorough due diligence on the portfolio, and we were able to talk to some of the senior management team to get really comfortable with the wider operations. It is an exciting deal for us to get such a strong foothold in the special schools' market with a strong care provider.”

If you are considering selling your company, buying a business or are looking for ways to finance your growth plans and would like to find out more about the process, please contact Richard Dade on richard.dade@hazlewoods.co.uk or call 01242 237661.