Marian Homecare is a Surrey-based care agency providing support to four local healthcare authorities in South East England, as well as private clients.
The owners of Marian Homecare were looking to secure an exit, and engaged Avondale to drive the sale. The team was able to generate interest from several parties, resulting in three strong offers. However, a number of problems then occurred: a new sale contract, that was expected to significantly increase turnover and profits, was delayed. Meanwhile, two private clients had also been lost, severely affecting year-end profits.
Avondale reached out to each of the bidders, assuring them that the dip in performance was the result of a series of chance external factors. With an excellent management team in place and a major new contract on the horizon, the drop in profits would not have a lasting impact on the value of the business. Their concerns assuaged, the eventual purchaser, Enara Homecare, agreed to proceed with the acquisition.
Having brought the sale project back on track, Avondale was able to guide the deal to a smooth conclusion, with the final sale price fully meeting the vendors’ original objectives. The new contract has since been secured, and Marion Homecare is thriving under new ownership, with the existing management team at the helm.