Investment in City & County Healthcare Group

RNS Number : 9558U

Graphite Enterprise Trust PLC

06 December 2013

 



GRAPHITE ENTERPRISE TRUST PLC

5 December 2013

Graphite Enterprise Trust PLC ("the Company") is pleased to report the first investment by Graphite Capital Partners VIII ("Graphite VIII"), in which the Company is an investor.

Graphite VIII, a fund managed by Graphite Capital, has backed the management buy-out of City & County Healthcare Group ("C&C"), the UK's fourth largest home care provider. The Company has invested £14.2 million in C&C through Graphite VIII. This represents 3.2% of the value of the Company's portfolio as at 31 October and C&C is now the Company's third largest underlying investment.

About City & County Healthcare Group

C&C provides high quality home care assistance, primarily for the elderly. It also provides specialist care services for young people and adults with more complex or long-term conditions such as learning disabilities, mental health needs and brain injuries. Operating from 64 branches across England, Wales and Northern Ireland, C&C's carers provide care to over 15,000 individuals a year, primarily on behalf of local authorities and the NHS, as well as to private clients.

Graphite Capital has a successful long-term track record of investing in health and social care businesses. It has invested in a total of seven elderly care businesses through various stages of the economic cycle over the last 20 years. They all generated strong returns on exit, including Optimum Care and Willowbrook Healthcare which were sold earlier this year.

 

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