Tracscare Group MBO supported by Clydesdale Bank

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Clydesdale Bank-Care Industry NewsClydesdale Bank has provided funding worth £16.75m, as part of a three bank senior debt package, to support the management buyout of specialist care provider Tracscare Group.

The purchase of Tracscare by its management team was supported by pan-European private equity firm G Square and funded through Clydesdale Bank’s Acquisition Finance team and two other club partners.

The Group provides specialist healthcare to a range of service users with learning disabilities, acquired brain injuries, mental health or autistic spectrum disorders.

Established in 1985 when it opened its first residential care unit in Hazeldene, Swansea, Tracscare has since undergone major expansion and now provides care facilities in 75 homes across England and Wales.

Paul Constable, Chief Executive of Tracscare, said: ““The last decade has seen substantial growth for the Group with ongoing development of our facilities across the country.

“Our strong occupancy rates are testament to the reputation we have developed as a provider of quality services.

“Having now completed the management buy-out of the Group, our focus in the coming months will be on building further on the success Tracscare has achieved to date.

“The team at Clydesdale Bank have demonstrated their understanding of the healthcare business and an appreciation of our ambitions for the Group as we move into the next phase of our development.”

Mike Tarr, Director for Acquisition Finance at Clydesdale Bank, said: “Tracscare has a well-deserved reputation across the healthcare sector for the high standards of its services.

“Paul and his team have an ambitious strategy for the future of the business and we look forward to working with them and with G Square to support our expansion plans.”

Edward J. De Nor, Partner at G Square, said: “Clydesdale supported our vision for Tracscare from the beginning and delivered a financing solution that will enable management to turn that vision into reality.”

Clydesdale Bank’s Acquisition Finance team works closely with management buyout teams, private equity investors and corporate finance advisers to provide innovative debt funding structures for a broad range of deal sizes and types.

Using leveraged and specialist finance, the team structure a wide range of transactions in the lower mid-market, across a variety of sectors and on a sole bank or club bank basis, from private equity sponsored institutional buyouts to more traditional management buyouts.


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