Envivo Group expands empire with Crusader acquisition
Envivo Group has completed the acquisition of Cardiff-based specialist nursing home outfit Crusader Medical Care.
Crusader, which reported £5.5m turnover and post-tax profits of £1.4m last year, operates two care homes in the Cardiff area – St. Albans and St. Saviours - and employs more than 100 staff.
Established in 2004, Crusader specialises in providing for acute, complex care requirements and in care for challenging behaviours, such as mental illnesses or acquired brain injuries.
"Our business has developed a strong reputation for care quality and its commitment to our residents and staff. It was important that a suitable acquirer was found that would continue to operate the business in this manner and I believe that Envivo fits the criteria perfectly,” said founder and director Vincent Ashley.
Envivo, which is headquartered in Cheltenham, was supported in the transaction by Civitas Investment Management, an investor in UK specialist healthcare real estate.
"We are delighted to have partnered with Civitas to acquire Crusader Medical Care. Crusader is a well-respected, high quality care provider that will be supported by Fieldbay, led by Paula Lewis, which has homes across South Wales,” said executive chairman Paul Mariner.
Grant Thornton's Cardiff corporate finance team and Capital Law advised the shareholders with Grant Thornton also providing tax advisory services.