Cera Care buys HCRG’s homecare division
HBI can exclusively reveal that London-based tech-savvy Cera Care has acquired homecare businesses CRG Homecare and Allied Healthcare from recruitment group HCRG.
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The buyer’s details can be found in filings at companies house, and Cera Care has subsequently confirmed the acquisitions to HBI. With around 6,000 employees this year, privately-held Cera Care had 2020 revenue of around £54.2m in FY 2020.
Combined, the two acquired businesses have a revenue of around £75m, giving the new entity a revenue of around £129m. Financial details of the transaction have not been disclosed.
HCRG acquired Allied Healthcare in 2018, when it was on the brink of financial collapse. Twenty20 Capital (which HCRG is part of) then merged Allied with its existing homecare brand (CRG Homecare). The same management team will lead the brands, which will continue to operate as normal. Changes are not expected to the services provided.
Cera Care has seen dramatic growth over the last two years, with a whopping 1,183% increase in revenue in FY2020, from £3.6m the previous year to £46.2m. Around 750 staff will be now added to the group’s workforce as a result of the deal.
Allied Healthcare is one of the UK’s larger care providers specialising in home care services encompassing both visiting care and more specialist requirements. Its remit extends to caring for children with behavioural needs, support for people with disabilities, reablement care for those recovering from illness or injury, and expert clinical care by community nurses. CRG Homecare is a provider of domiciliary care, supported living and continuing healthcare.
Igal Aciman, chief commercial officer at Cera, tells HBI: “We’re hugely excited to have completed the acquisition of CRG Homecare and Allied Healthcare, and to be welcoming them into the Cera family. This deal provides us with an ideal springboard through which to accelerate our growth throughout the UK, as well as to recruit more professional carers and nurses and, most importantly, reach a greater number of older and vulnerable people.”
Tristan Ramus, chairman at Twenty20 Capital, said: “Twenty20 Capital is proud to be able to announce the transfer of ownership of our homecare group. Having acquired Allied Healthcare, on the brink of insolvency, the business has been transformed during our period of ownership. The core principles of Twenty20 Capital’s investment philosophy have driven an outstanding shareholder return in under three years. Supporting and augmenting the management team to execute challenging strategic and operational decisions has created a highly attractive, scaled and profitable platform in this highly competitive homecare services market.”
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