Bridges Ventures-backed Alina Homecare completes second acquisition
Bridges Ventures (“Bridges”) announced today that portfolio company Alina Homecare (“Alina”) has completed the successful acquisition of a high quality homecare provider in the Midlands. This is the second deal completed by Alina and follows the acquisition of a homecare provider in Hertfordshire in May this year. Alina is continuing to invest in ‘greenfield’ branches and, in addition to the first branch that it opened on the South Coast in March, it is now opening a further two ‘greenfield’ branches in the region.
Bridges announced its backing of Alina in May 2014 as the latest investment of the Bridges Sustainable Growth Fund III.
Alina has a clear mission to improve standards of care within the home setting. A key organisational focus is to provide better support with greater and more specialised training for its care staff, leading to improved outcomes for service users. It aims to work closely with service users, local authorities, the NHS and other organisations to innovate and be a catalyst for the much needed integration between health and social care.
Garret Turley, Partner, Bridges Sustainable Growth Funds, said:
“We are delighted to announce another acquisition for the business as well as two additional ‘greenfield’ sites and are excited about Alina’s continued growth. Alina’s experienced management team and ambitious growth plan have proven in a short space of time that they have the requisite expertise to meet the fast rising demand for high quality home care services in the UK”
James Deeley, Chief Executive, Alina Homecare said:
“Alina continues to grow from strength to strength and this second acquisition has doubled our size allowing us to provide the highest quality homecare to yet more people. We have been very pleased with the ongoing success of the business and look forward to building on this as we expand further.”
Bridges Sustainable Investment Fund III focuses on the provision of growth capital to ambitious businesses that generate impact through the products they sell in certain sectors like health & well-being, education & skills or the environment. It also supports consumer champion businesses serving underserved markets or companies building economic dynamism in under-invested areas.
0203 219 8805
Notes to Editors
Bridges Ventures LLP (“Bridges Ventures”) is a specialist fund manager dedicated to using an impact-driven investment approach to create superior returns for both investors and society at large. Bridges Ventures has raised eight funds to date which total £460m: Sustainable Growth Funds I, II and III, the Bridges Sustainable Property Fund, the CarePlaces Fund, the Bridges Property Alternatives Fund, the Bridges Social Entrepreneurs Fund and the Bridges Social Impact Bond Fund.
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