Nobilis Care Acquires Ashwood Care via RDK
27th June 2019
Redwoods Dowling Kerr sells established home care agency in Hampshire.
Established for over 10 years, Ashwood Care Agency offers morning, afternoon, evening and overnight care for the elderly, assisting with day to day routines such as medication and shopping. On the back of their renowned levels of care, the agency enjoyed regular referrals from industry professionals and social workers, enhancing their historically large client base.
Vendor David Green decided to put the business onto the market with Redwoods Dowling Kerr due to his wish to retire, with the business receiving 9 viewings with 4 offers being made on the back of this. Holding 11 years’ experience within the sector, the successful bid was made by corporate operators Nobilis Care. Saying they were attracted to the opportunity due to the location, size and impressive profitability of the business, the new owners plan to integrate their latest acquisition into their existing Southampton home care setting.
Commending Asif’s handling of the sale, Vendor Mr David Green commented;
“We have worked hard to create a reputable home care agency with good income streams but felt the time was right for us to step back and let another operator develop the business further.”
“We are also delighted that the expanding existing operator Nobilis Care has bought our business and wish them all the best for the future plans moving forward.”
“Asif at Redwoods has helped us throughout the sale process, we had a lot of viewings and with Asif’s efforts we found a suitable buyer which lead to a successful completion. We would like to thank Redwoods Dowling and Kerr and Asif for their guidance and services, we would not hesitate in recommending Redwoods Dowling Kerr to anyone wanting to sell their business.”
Praising the efficiency of the deal, purchaser David Watt said;
“Asif and the team at Redwoods Dowling Kerr have been helpful and proactive in bringing healthcare opportunities to us. We have completed our first acquisition through Redwoods and the process has been smooth and efficient. We are looking at several further opportunities through them.”
Lead negotiator of the sale Asif Musa offered an insight into the sale saying;
“The sale of Ashwood Care to an existing operator demonstrates the continued demand for profitable domiciliary care business across South-east, moreover the market for domiciliary care remains positive particularly for existing operator who have the potential to develop small to medium size domiciliary care business and acquire them as a bolt on to their existing business with a scope to expand their operations to cover different areas. I wish my clients all the best for the future.”