Clece Care Services acquires CSN Care Group
National care provider Clece Care Services has acquired Edinburgh-headquartered CSN Care Group from BGF.
Clece Care Services operates more than 70 locations across the UK. It is part of Clece Group, headquartered in Spain, which employs more than 75,000 people across Spain, Portugal and the UK.
BGF invested £4 million in CSN in December 2020 helping it to grow its network by completing four acquisitions in Glasgow, Welwyn Garden City and Horsham.
CSN operates a national network of branches across the UK. Its care brands include Carewatch, MyLife and New Directions and it delivers around 36,000 hours of care a week through its owned branches. Executive chairman, Scott Christie, and managing director, Craig Hendry, founded the company in January 2019 via a management buyout of part of the Carewatch Group.
Christie said: “This is an exciting next step for CSN which will continue to expand its presence in the care sector across the UK under Clece’s ownership. BGF’s support over the last couple of years has been invaluable in allowing us to acquire like-minded and high-quality businesses across the UK.”
Javier Roman Hernando chief executive at Clece Group added: “Acquiring CSN is an important part of growing our operations across the UK. It is clear that the company’s initial management buyout, coupled with BGF’s investment, have put CSN on an exciting upward trajectory in a growing and indispensable sector.”
Paddy Graham, head of Scotland for BGF, commented: “CSN has achieved incredibly rapid growth in a short period of time. The broad mix of specialist services and commitment to high-quality care was one of the things that initially attracted us to CSN, as was its strategic focus on private and high-acuity services. BGF is a flexible and patient investor therefore this is an earlier exit than we are typically accustomed to, however the very successful growth since investment coupled with the strong strategic fit with Clece meant that we were delighted to support an exit at this time. We have thoroughly enjoyed working with Scott and his team over the past two years and look forward to seeing CSN grow as part of Clece.
Date published: March 29, 2022