News Releases
1st August 2007
Statement by Delta (Two) Limited regarding Care Principles
Three Delta, which provides corporate finance services to the Delta Fund, announces the successful completion of the Delta Fund’s acquisition from the global private equity and venture capital company, 3i, of Care Principles, the leading UK specialist care provider for adults with learning disabilities and behavioural issues, for £270 million.
Established in 1997, Care Principles has over 380 occupied beds and employs more than 1500 staff, providing assessment, treatment, care and rehabilitation for adults requiring long-term therapy and treatment for severe learning disabilities and mental health problems. Care Principles is led by CEO, Paul Preston, former managing director of General Healthcare Group’s BMI Hospitals.
Three Delta has extensive experience in the healthcare sector and the acquisition of Care Principles, through the Delta Fund, will be a strong addition to its portfolio of healthcare investments. Three Delta’s existing healthcare portfolio comprises Four Seasons Health Care, a leading UK care home group; the Senad Group, an operator of special needs schools and NHP, a property company owning 294 nursing homes predominantly let to Southern Cross. Care Principles further bolsters the Fund’s position in the sector, with healthcare investments currently exceeding £3 billion.
Three Delta Principal, Paul Taylor, commented: “We are delighted to announce the successful completion of the Care Principles acquisition. The acquisition demonstrates our commitment to invest in well-run businesses with robust operations. Our strategy is to grow the business whilst maintaining a quality care offering.
“We recognise that there is increasing demand for services across the healthcare industry, and we are delighted that the acquisition will diversify the offerings of Three Delta’s current healthcare portfolio, whilst simultaneously providing strong opportunities for integration.
“Care Principles boasts a first class management team with strong sector expertise. We have every confidence in them and we look forward to working with the team in realising the full synergies across our healthcare portfolio.”
