We are delighted to have advised Sodexo Ltd on their acquisition of Prestige Nursing + Care.
Sodexo is a global leader in managing and delivering a diverse range of services designed to improve the quality of life for their clients and customers and employs 425,000 staff across 80 countries worldwide.
Sodexo, through their Global Home Care division, is already a big player in the US in the home care market through its Comfort Keepers brand which has over 700 offices worldwide, including one in West Sussex. Sodexo was keen to expand through acquisition to scale its presence in the UK private pay home care market.
As a result of our wide and existing relationships with Sodexo, the London corporate finance healthcare team were invited to present our credentials as part of a competitive tender to help support Sodexo's acquisition strategy.
Having been successfully selected, the team undertook a detailed market mapping exercise of the UK home care market based on Sodexo’s specific criteria. Prestige Nursing + Care was selected as the prime target.
Prestige, established in 1945, is a family business and is recognised as one of the UK’s most respected nursing and care agencies. It has a network of 45 company-owned and franchised branches covering most of the UK, and with over 2,500 nurses and care workers registered with them. Pivotally, Prestige had already begun a strategic transition towards the private pay home care market, making it a strong fit with Sodexo’s Comfort Keepers. Through our existing relationship with Prestige, the two parties were introduced and with the team’s advice and support, Sodexo successfully purchased the business.
“I would like to thank Grant Thornton for their advice, guidance and support in helping us complete this transaction with Prestige enabling us to scale in this market in the UK. We selected the London corporate finance team to support us on our acquisition strategy based on their experience in transacting in the healthcare space and their extensive industry knowledge and connections. We look forward to continuing our work with Grant Thornton as we progress on the home care acquisition trail across Europe as well as the UK. I wouldn’t hesitate to recommend the team.”Dr. Patrick Flanagan Billiter Global Chief Financial Officer, Sodexo Home Care