Second bolt-on acquisition for SpringfieldJuly 2013 | Portfolio News
BGF portfolio company Springfield Homecare Services Ltd, part of Springfield Healthcare Group, has announced the acquisition of Helping Hand HCS Limited, based in Selby, North Yorkshire. Springfield Homecare is one of the largest independent providers of domiciliary care in Yorkshire, Humberside and the North East.
Helping Hands represents the second bolt-on acquisition for Springfield following on from the acquisition of Positive Life Choices (PLC), based in Newcastle, in March 2013.
Helping Hands was established in 2004 by the vendor, Denise Chester. The business has established itself as a key provider of domiciliary care services to both local authority and private clients in and around the Selby district.
The acquisition complements Springfield’s existing operations in East Leeds, York and Humberside providing services to an area not previously covered by Springfield. Helping Hands currently provides circa 650 hours of service and employs 30 staff. The acquisition also allows Springfield to enhance its service provision within the North Yorkshire County Council region as well as providing a foothold for consolidation, expansion and in-fill of provision around the South York and Selby regions.
Graeme Lee, founder and CEO of Springfield Healthcare commented:
“I am delighted to announce the acquisition of Helping Hands. This represents our second bolt-on acquisition since we received investment from Business Growth Fund (BGF) in June 2012 and demonstrates the effectiveness of our plan to expand into new regions and establish ourselves further as a main service provider in the Yorkshire, Humberside and the North East region. This acquisition gives us access to a new area within our focus region and provides us with a platform to grow and expand the volume and range of services we can offer.
“The BGF investment and along with support from our bankers, NatWest, have given us the capabilities to identify suitable opportunities, understand vendors’ requirements and invest quickly and professionally, all of which have been demonstrated with both the PLC and Helping Hands acquisitions.”