Accomplish Group merges with Keys Group
As exclusively revealed by HealthInvestor in February, specialist residential and supported living provider to adults Accomplish Group is merging with Keys Group, a provider of specialist education and care for children and young people.
The combined organisation will provide specialist support and education for more than 2,000 children, young people, adults and families in services and schools across England and Wales.
The merger will see the organisation operate three distinct divisions including:
- Adult residential will include all of the current adult residential homes currently run by Accomplish
- Independent living and activity services will include the Accomplish supported living services and Keys leaving care services, adult day centre, activity centres and activity homes
- The children’s residential and education division will operate all the residential homes (including family assessment) and schools currently run by Keys.
Mel Ramsey, the current chief executive of Accomplish, will take up the role of non-executive director on the newly formed combined board of the merged organisation and will also become an operating partner for G Square, which owns both Accomplish and Keys.
David Manson, the current chief executive of Keys Group will become the chief executive of the combined organisation. Both Accomplish and Keys will retain their individual brand identities for the foreseeable future.
Manson said: “The combination of Keys and Accomplish creates not just an additional wealth of expertise but also a natural pathway for the people supported by Keys to move into specialist high quality adult care, where it is appropriate for them, more easily. It will enable both organisations to benefit from each other’s investments over the last five years and to accelerate progress for both.”
Accomplish’s latest accounts for the year ending March 2021 put its revenue as an individual group entity at £43 million and EBITDA at roughly £8.4 million. Consolidated accounts for the same period of time have the group’s revenue at £104.6 million and its EBTDA before exceptionals at £22.3 million.
Keys’s most recent filings show £34 million gross profit on £110.6 million revenue the year to 31 March 2021.
Goodwin Procter acted as legal advisors and PwC provided structuring and integration support.