Bespoke Health & Social Care Ltd (BHSC) set for growth following private equity buy-out

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  • PE investor, WestBridge Capital, acquires BHSC with unitranche debt funding support from Shawbrook Bank
  • The funding facility, including both first and final credit approvals, was finalised during Covid-19 lockdown
  • In addition to financing the acquisition, the multi-million-pound facility also provides working capital support

Bespoke Health & Social Care Ltd, a specialist provider of care services to individuals across England, is set for expansion after it was acquired by a private equity firm.

WestBridge Capital, an award-winning private equity house, successfully completed the multi-million-pounds purchase of BHSC with funding support from Shawbrook Bank.

Nottingham-based BHSC provides specialist care support to individuals with long-term and high acuity medical conditions in their home environment, with provision of services across England.

Shawbrook’s unitranche debt funding package – which was successfully completed during lockdown despite Covid-19 restrictions – will support BHSC’s future merger and acquisition plans, with WestBridge having the option to enlarge the facility if required.

The investment by WestBridge will strengthen the foundations of BHSC’s operations and provide an enhanced platform for growth moving forward.

Paul Sais, BHSC Founder, said:

“We are delighted to conclude this deal, which will enable Bespoke to continue pursuing growth while maintaining the highest standards of care.

“The WestBridge team impressed us with their pragmatic approach and we look forward to working with them over the next phase of our journey.”

Tim Whittard, Partner at WestBridge Capital, said:

“The team at Shawbrook were diligent, professional and passionate about the project from day one. Their commitment to delivering what was a thoughtful and considered funding proposal was second-to-none, not least given the current circumstances, and their knowledge of both the sponsor market and the healthcare sector gave us the reassurances we’re dealing with the right funding partner.”

Mr Whittard continued: “As investors in high quality independent businesses, we need to operate at pace. Speed, certainty and flexibility are the essential characteristics we look for in any funding solution, and Shawbrook delivered on all three.”

Deepak Parekh, Senior Director with Shawbrook’s Financial Sponsors team, said:

“We are pleased to support the continued success and growth of BHSC by funding this strategic investment by WestBridge Capital.

“WestBridge are experienced mid-market investors and operators with a track-record in the healthcare sector and in buy-and-build growth strategies and it’s been a positive experience working with them and getting to know the management team at BHSC throughout this transaction.”

He added: “With deep experience of the healthcare sector, we were immediately impressed with BHSC’s service proposition and understood the value WestBridge could bring as dynamic financial sponsors.

“Notwithstanding the unfortunate onset of Covid-19 and the nationwide lockdown measures, we have worked remotely alongside all other key stakeholders and are delighted to have been able to achieve the collective objectives of the sponsor and management team. It’s been a great team effort!”

Shawbrook Bank’s legal advisor was Travers Smith LLP.