Caledonia Investments plc and the management of Choice Care Group, led by the Chief Executive Officer Edwina Johnston, acquired Choice Care Group from Sovereign Capital Limited Partnership II, managed by Sovereign Capital Partners LLP, for £86 million.
August 07, 2013 at 09:30 am IST
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Caledonia Investments plc (LSE:CLDN) and the management of Choice Care Group, led by the Chief Executive Officer Edwina Johnston, acquired Choice Care Group from Sovereign Capital Limited Partnership II, managed by Sovereign Capital Partners LLP, for £86 million on August 7, 2013. Caledonia Investments plc acquired 97.7% stake and the management rolled over its equity. The transaction was financed by equity financing of £49.5 million by Caledonia Investments and £40 million in senior debt financing from The Royal Bank of Scotland plc, AIB Group (UK) plc and Santander UK plc. Choice Care Group reported EBITDA of £8.9 million and gross assets of £45.8 million for the year ended September 30, 2012.
Peter Hewer and Katerina Soumilova of Tulchan Communications Group and Mike Hicks of Catalysis acted as public relations advisors, Mark Spinner and Ben Truman of Osborne Clark acted as legal advisors, Richard Clark, Phillip Gutzwiller, Vincenzo di Nicola, Simon Chambers, Julia Tan, James Pople, Sarah Davies and Torera Oyewo of DC Advisory acted as financial advisors, Clare Connell of Connell Consulting acted as management consultant, Tim Haden of Deloitte UK and Jason Wakelam of PricewaterhouseCoopers LLP acted as accountants and JLT and Aon acted as insurance brokers for Caledonia. Stuart Brinkworth of Hogan Lovells acted as legal advisor for The Royal Bank of Scotland. Chris Spanoudakis of Equita Corporate Finance acted as financial advisor and CMS Cameron McKenna acted as legal advisor for the management team. Jefferies International Limited acted as financial advisor and CMS Cameron McKenna acted as legal advisor for Sovereign Capital Partners.
Caledonia Investments plc (LSE:CLDN) and the management of Choice Care Group, led by the Chief Executive Officer Edwina Johnston, completed the acquisition of Choice Care Group from Sovereign Capital Limited Partnership II, managed by Sovereign Capital Partners LLP, on August 7, 2013.
Caledonia Investments plc is a United Kingdom-based self-managed investment trust company. The Company holds investments in both listed and private markets, covering a range of sectors and particularly through its fund investments. It invests in managed businesses that combine long-term growth characteristics with, in many cases, an ability to deliver increasing levels of income. It manages assets of circa £2.9 billion across an international, multi-asset portfolio, with a focus on companies that have the potential to generate long-term shareholder value. The Companyâs fund types include private equity funds, funds of private equity (PE) funds, and quoted market funds. It invests in a range of sectors, such as information technology, industrials, consumer staples, materials, healthcare, financials, communication services, utilities, real estate and consumer discretionary. It invests in various regions, such as the United Kingdom, Asia, Europe, and North America.
Caledonia Investments plc and the management of Choice Care Group, led by the Chief Executive Officer Edwina Johnston, acquired Choice Care Group from Sovereign Capital Limited Partnership II, managed by Sovereign Capital Partners LLP, for £86 million.
CALEDONIA INVESTMENTS PLC 
