Routes Healthcare Set for Growth Following Private Equity Buy-Out

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  • PE investor, Palatine Private Equity, acquires Routes Healthcare with Unitranche debt funding support from Shawbrook Bank
  • Firm set for a period of organic and acquisitive growth

Routes Healthcare, a specialist provider of care services across the North of England, is set for a period of growth after it was acquired by private equity firm Palatine.

Palatine Private Equity, an award-winning private equity house, successfully completed the multi-million-pound purchase of Routes with funding support from Shawbrook Bank.

Routes, headquartered in Macclesfield, provides support to individuals with specialist and personalised health care needs in their home environment, with provision of commissioned home care services across England.

Shawbrook’s unitranche debt funding package will support Routes’ future acquisition and organic growth plans, with the investment by Palatine strengthening the foundations of Routes’ operations and providing an enhanced platform for growth moving forward.

Jackie Lindsay, CEO at Routes Healthcare, said: “The investment by Palatine presents an outstanding opportunity for the company in terms of our ambitions for growth and in continuing to enhance and deliver the services we already provide to the individuals we support across Northern England.

Jackie added:

“Out of all the banks and lenders we spoke with, the team at Shawbrook had a far better understanding of our business and what we were looking to achieve as a management team under private equity ownership.

“The Shawbrook team clearly had experience of working with businesses in the care industry and understood that the demand for home care is rising quickly. They were a pleasure to work with and fully supported our plans for growth.”

Tom Wildig, Investment Director, Palatine Private Equity, 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. The Bank’s knowledge of both the sponsor market and the healthcare sector gave us the reassurance that we were dealing with the right funding partner.”

Tom continued:

“As investors, we need to operate at pace. Speed, certainty and flexibility are the essential characteristics we look for in any funding solution, and it was a delight to work with Deepak and the team at Shawbrook who 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 Routes Healthcare by funding this strategic investment by Palatine Private Equity.

“Routes is a high-quality business operating in a segment of the healthcare market that is seeing demand rising for high quality care against a backdrop of fragmented provision.  Routes has huge potential to make a considerable impact on the individuals to whom it provides care and support, but also on the wider market as demand for care delivered in domestic settings increases. So we’re proud to play a part in their journey. 

“Palatine are experienced investors and operators with a track-record in the healthcare sector and in buy-and-build growth strategies. It has been a hugely positive experience working with them once again and in getting to know the management team at Routes throughout the process.

“We were immediately impressed with Routes’ proposition and understood the value Palatine could bring as dynamic financial sponsors.”