BDB Pitmans advises Acorns Health Care buy-out
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BDB Pitmans advised Acorns Health Care on a management buy-out, helping the company transition to new ownership
BDB Pitmans has successfully advised the shareholders and management team on the management buy-out (MBO) of Acorns (Southern) Limited, operating as Acorns Health Care, which was completed on 29 October.
Acorns Health Care is a leading provider of supported living services for individuals with learning disabilities and complex mental health disorders. Founded by Sue Vaughan in Southampton, the company is known for its commitment to delivering high-quality, transformative care to some of society’s most vulnerable individuals.
The BDB Pitmans team was led by Corporate Partners Oliver Kelly and Sean Kelly, who were supported by a dedicated group of professionals, including Leah Houghton, Fin McKenzie, David Crease, Gemma L’Esperance, and Charlotte Wilkinson from the Corporate team, as well as Chris Green (Employment), Mark Challis (Planning), Philip Alfandary (Tax), and James Barnett (Real Estate).
The management team of Acorns Health Care was funded by Ignite Growth LLP, advised by Trowers & Hamlins, with Shawbrook Bank providing financing, advised by Bevan Brittan. Corporate finance advice to the sellers was provided by Quantuma, while K3 offered tax advice.
Oliver Kelly of BDB Pitmans commented, “Our team brings considerable expertise in corporate finance transactions, particularly within the health and social care sector, and we are pleased to have supported Acorns as it enters this exciting new phase under management ownership.”
Sue Vaughan, the Founder and Director of Acorns Health Care, expressed her satisfaction with the transaction, saying, “Selling a business built with such passion and purpose is never easy, but I’m thrilled to sell to a management team that shares our commitment to improving lives. I’d also like to thank the BDB Pitmans team for their excellent advice, which ensured the deal was completed ahead of the October Budget.”
The successful MBO marks a significant milestone for Acorns Health Care, enabling the company to continue its important work under new ownership while ensuring the continuity of its values and high-quality care services.