NursePlus
Nurse Plus provides domiciliary care services and temporary care workers to residential care establishments. At the time of Key’s investment the business had 26 branches, predominantly in the south of England.
Key was a very supportive partner throughout our involvement with them. From being understanding, responsive and decisive in our initial negotiations to acquire the business, through providing considered input into the development of our strategy and management team and finally assisting us in securing the best price for the business at exit. The Key team's informal style, years of experience and understanding of our business made them a valuable shareholder and member of the team.
Working with NursePlus...
Investment process
Our £6.5 million investment supported the management team of Nurse Plus, led by CEO Heath Blake, to acquire the business from two founders who were no longer actively involved in the Company.
Growth process
Following the management buy-out, we worked with the team to plan and execute a twin track growth strategy of accelerating the rate of new branch openings combined with capability enhancement in existing branches. To facilitate this accelerated growth we supported the recruitment of additional middle tier managers including a dedicated head of compliance and internal audit team.
Exit process
We recommended a firm of specialist corporate finance advisers to manage the sale of the business. Numerous offers were received for Nurse Plus from both trade and private equity, with the eventual buyer being a private equity investor. The sale resulted in a 5 times return on investment for Key.