Exclusive: Accomplish Group to merge with Keys Group

Zina Fragkiadaki
February 25, 2022
M&A

Accomplish Group, an adult specialist care provider, and Keys Group, a specialist care and education provider for children and young people, which are both owned by G-Square Capital, consider floating a joined-up business in due course, HealthInvestor UK can reveal.

This publication has learnt that private equity firm G-Square Capital is mulling to put the two businesses together as part of its efforts to develop a successful exit strategy.

G-Square tried to exit both companies in late 2020 with Rothschild running the processes which fell through, according to sources.

An advisory source describes the upcoming merger as an “interesting move” because it puts together two different types of care creating “a pathway from adolescence through to adult care“.

Established in 1983, the Birmingham-based Accomplish Group – formerly “Tracscare” – focuses on autism, learning disabilities, acquired brain injuries, and mental health. It delivers support to more than 1,000 people across 75 services in England and Wales, providing care pathways ranging from therapeutic settings with clinical teams on site, to registered residential care, and supported living. G-Square has been a long-standing owner of Accomplish since 2014.

Accomplish Group’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.

Founded in 2005, Keys Group is a provider of care and education services to children and young people who have complex needs – emotional, behavioural social, learning or physical needs. The group provides care to more than 1,000 young people and operates across England and Wales with more than 100 residential services and more than 20 specialist schools. G-Square has owned Keys Group since 2017.

The company’s most recent filings show £34 million gross profit on £110.6 million revenue the year to 31 March 2021.

Accomplish, Keys Group, and G-Square did not return HealthInvestor UK‘s requests for comment.

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