Springboard has advised Healthtech platform, Nourish Care Limited on the acquisition of Care Planner Limited, a rostering solutions provider.
Nourish provide care management software into residential care providers and to domiciliary care providers. Nourish currently serves more than 3,500 residential care providers with its flexible digital care management software and aims to adopt a more holistic approach by widening its net and delivering care management and support in the community.
This deal is the first acquisition for Nourish since the company received investment from the private equity firm Livingbridge in 2022 and is part of their strategic aim of being an end-to-end service provider in the healthcare space. Further funding for the acquisition was facilitated by NatWest. CarePlanner provide domiciliary rostering software helping businesses allocate the appropriate level of resource to recipients of care. The business serves more than 2,000 domiciliary care agencies.
Nourish CEO and founder Nuno Almeida commented “When it is done well, social care helps to weave a web of relationships in local communities that add meaning, connection and purpose to our lives. A powerful digital tool keeps everyone informed and coordinated. It also gives the person being cared for a voice. CarePlanner is an ideal partner for us because it enables us to deliver the best possible person-centred care experience in the community.”
Nourish were supported on the deal by Springboard Partner, Simon Ward, Assistant Director, Thomas Hammond and Executive, Liam Bradney. Simon commented “The acquisition of CarePlanner is a truly transformational deal for Nourish. Nuno and his team are relentlessly focussed on building the digital provider of choice in their market. We are delighted to have been able to help them with this important step of the journey.”
About the deal
- Managed a complex transaction which involved follow on funding from institutional investors, management and angel investors;
- Provided debt advisory support by liaising with lenders and advising management on debt structure;
- Supported Nourish on modelling the acquisition structure and future synergies;
- Project managed the financial, tax, tech, legal and commercial due diligence teams.
Nuno Almeida – CEO & Founder
“This was our first acquisition and Springboard provided us with invaluable support and counsel throughout the process. We look forward to working with Springboard as we continue our acquisitive growth journey.”