Independent Living Group
Deal Status: Exited, 2006. LBO - Buy and Build
The Independent Living Group ("ILG") operates care homes focused on adults with learning disabilities.
In late 2004, EPIC Private Equity provided £4.6 million for the acquisition of Iliace and the subsequent bolt-on of three further care homes - Opus, Eversleigh and Communitas, with a combined turnover of £8 million, to form ILG.
At the time of investment, the care homes sector was highly fragmented but undergoing consolidation. EPIC Private Equity saw the opportunity to back a proven management team with a successful track record in care homes. EPIC Private Equity closed underperforming homes and improved retention and fee rates by increasing the quality of service. By exit, ILG had grown to be a 300 bed group and top 10 operator in the UK market.
In December 2006, EPIC Private Equity completed the sale of ILG to Hermes Private Equity for £52.2 million, achieving an IRR of 35.2%.
Link: www.ilg.co.uk
