A Liverpool-based care services provider has been bought by a rival company in a multi-million pound deal.
Raglin Care, based in Netherton, provides services for people with physical, mental and learning disabilities in St Helens, Southport, Formby and Liverpool.
The company was acquired by private equity outfit ISIS on behalf of Paragon UK, based in Adlington, near Chorley.
Raglin Care is the latest acquisition in the care sector by ISIS, which has a portfolio of investments including Care Management Group, Independent Living Services and Pathway.
The deal was jointly originated by corporate finance specialist John Fowler, of Liverpool-based Brabners Chaffe Street, and Pete Clarke at ISIS.
Mr Fowler said: “When we became aware that the shareholders of Raglin were looking to exit we were able to use our connections and knowledge of the health and social care sector to quickly introduce and then advise ISIS and Paragon on the acquisition.
“This is another example of the growing amount of private equity deals that the Brabners Chaffe Street Corporate Finance team are advising on.�
Mr Clarke added: “We were attracted to Raglin because there was a strategic fit between the two companies. Like Paragon, Raglin has strong local authority relationships and a reputation for providing supported living services to service users in its local market – St Helens, Southport, Formby and Liverpool.
“There was also a strong geographical fit as this deal extends Paragon’s reach beyond Greater Manchester and Lancashire and into Merseyside.�
Lawyer Mark O’Connor, of Liverpool-based O’Connors LLP, advised Raglin Care on the deal, assisted by John Spofforth and David Malone.