SOLD TO:

Private Individual

INDUSTRY:

Care and Nursing

Established in 1991, Abacus Care is part of a national franchise, providing qualified nurses and healthcare assistants to residential and nursing homes across several UK regions.

After a successful career managing Abacus Care, the owners were looking to retire. Aware of Avondale’s strong track record of success in the care sector, they instructed the firm to help find an acquirer. However, a condition of the franchising agreement meant that the business could not be sold to a firm with direct involvement in the care and nursing sector, significantly narrowing the pool of potential buyers.

Drawing on its extensive network of active acquirers, Avondale began making discreet enquiries to a broad range of potential buyers. These efforts identified a private individual with the financial means to acquire Abacus Care. As a former employee of a large nationwide care corporation, the individual possessed the industry knowledge needed to run and expand the business.

The sale successfully completed under Avondale’s guidance, nine months after initial instruction. The fee, paid 100% in cash on completion, more than met the vendors’ original expectations. Despite the initial challenges surrounding the project, Abacus’ previous owners were left extremely satisfied by the outcome, and have been able to enjoy a well-earned retirement.

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