Bridges Ventures invests in Alina Homecare
Bridges Ventures (“Bridges”) has announced its investment in Alina Homecare, a new organisation that has been established to provide high quality homecare across the South of England.
Alina Homecare, the latest investment of the Bridges Sustainable Growth Fund III, has a clear mission to improve standards of care within the home setting. A key organisational focus is to provide better support with greater and more specialised training for its care staff, leading to improved outcomes for service users. It aims to work closely with service users, local authorities, the NHS and other organisations to innovate and be a catalyst for the much needed integration between health and social care.
The company has just completed its first acquisition, a family-owned single-branch business in Hertfordshire with over 100 staff and a strong local reputation for providing excellent quality care. This acquisition follows the opening of Alina’s first ‘greenfield’ branch on the South Coast in March.
Garret Turley, Partner, Bridges Sustainable Growth Funds, said: “Demographic trends in the UK are placing increased demand on the current healthcare infrastructure and the need for more high quality home care services is growing fast. The highly fragmented sector is undergoing a period of consolidation and we believe that Alina’s ambitious growth plans and experienced management team, makes the firm expertly placed to provide best-in-class home care.” Garret Turley is leading the investment in Alina, alongside Ian Taylor, Investment Director, and Pam Wei Liu, Associate.
James Deeley, Chief Executive, Alina Homecare said: “This marks the true beginning of Alina Homecare and our first acquisition of a business with an excellent reputation for quality homecare. It also seals our close partnership with Bridges Ventures, an organisation that shares the values and objectives of the management team to create a company that enhances quality, individual choice and consistency of service standards.”
The Bridges Sustainable Growth Fund III achieved its final close at £125m last year, exceeding its original target of £100m. The fund focuses on the provision of growth capital to ambitious businesses that generate impact through the products they sell in certain sectors like health & well-being, education & skills or the environment, or to consumer champion businesses serving underserved markets or companies building economic dynamism in under-invested areas.
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Bridges Ventures (www.bridgesventures.com)
Bridges Ventures LLP (“Bridges Ventures”) is a specialist fund manager dedicated to using an impact-driven investment approach to create superior returns for both investors and society at large. Bridges Ventures has raised seven funds to date which total £340m: Sustainable Growth Funds I, II and III, the Bridges Sustainable Property Fund, the CarePlaces Fund, the Bridges Social Entrepreneurs Fund and the Bridges Social Impact Bond Fund.
Advisers to Bridges Ventures:
Jason Zemmel, Jenny Stephenson
CMS Cameron McKenna LLP
Advisers to Alina:
Andrew Brookes, David Main, John Lucas
Richard Wilkey, Charlotte Thornton-Smith, Rebecca Leask
Harrison Clark Rickerbys Ltd
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