“We were looking for the right finance partner to support us in our ambitious growth strategy,” he says. “We felt that Close Ventures offered a very attractive proposition and we are very excited about having them on board.” Prime Care, which was founded in 2002, provides home-care services in East Sussex and live-in care services throughout East and West Sussex. It has also developed a franchise proposition under the Purple Care brand. The company employs more than 130 full-time and part-time care staff. Close Ventures aims to use Prime Care as a platform to create a domiciliary care business with a presence throughout the South of England through selective bolt-on acquisitions and organic growth. The growth of the domiciliary care market, which is currently estimated at £2.6bn, is being driven by long-term demographic changes, according to Close Ventures director Emil Gigov, who will join the board of Prime Care as a non-executive director. “However, it remains very fragmented – the top five national players account for only 20 per cent market share, leaving plenty of room for consolidation,” he says. “Prime Care is well positioned to play a role in this process and also capitalise on the government’s drive to promote individual budgets, which will favour top-rated care providers.” Picture source
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.