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Here2Care Sold to Not for Profit Organisation

The owners had grown the highly regarded domiciliary care business and now wanted to develop their exit strategy to allow them to retire. Over a two year period Avondale worked closely with the couple and their accountant to prepare the business for sale at maximum value.

One of the main concerns was that the Local Authority was re-tendering all contracts. After discussing this point in detail with Avondale it was decided the sale should not be put on hold. The directors instructed Avondale and the marketing process began, whilst the re-tendering process continued in the background. 

Avondale generated a significant number of interested parties and negotiated with two purchasers willing to put an offer forward before the tender was due to be announced. Alternative offers were also agreed between parties if the tender contracts were not won. 

The chosen buyer was a Not for Profit organisation looking to further expand within the sector. The deal completed ten months after instruction.

To talk to Avondale about your objectives, call 01737 234892 or email iod@avondale.co.uk

 

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