Established in 2002, Here 2 Care was an important provider of domiciliary healthcare and other home support services, serving the Dartford and Medway communities of Kent, South East England.
The joint owners of Here 2 Care were looking to step back from running the business, and approached Avondale to help develop an exit strategy. Avondale’s team worked closely with the owners and their financial advisors over a number of months to generate the highest possible value at sale. However, during this period, the Local Authority began re-tendering its contracts for care provision, threatening to remove a vital source of income for the business.
After extensive consultation, the Avondale-Here 2 Care team decided to proceed with the sale. Drawing on its extensive industry network, Avondale was able to generate a significant volume of interest. A short list was drawn up, leading to initial negotiations with two potential buyers. It was agreed that the companies would both place two alternative offers, to be contingent on the outcome of the tendering process.
The Authority’s decision ultimately favoured Here 2 Care, allowing the firm to retain its important contracts with the local community. A deal was agreed with a not-for-profit organisation that was looking to expand its recach within the care sector. With terms agreed, Avondale brought the deal to a successful conclusion 10 months after initial instruction.